By Christian Leuz, Dieter Pfaff, Anthony Hopwood
Accounting and the function of Accountants has permeated the fashionable societies. For the main half, we've got permitted the impartiality and objectivity of accounting and never famous how accounting structures are embedded in a country's monetary and felony framework, a lot of that's in flip formed by way of political tactics. This net of interactions ends up in complicated financial and political questions which require accounting researchers to target numerous comparable tendencies: info economics, regulatory economics, sociology and political technology. Althouugh significant growth has been made within the box of accounting, many basic questions are nonetheless topic to discuss. during this ebook, major foreign students handle a few vital questions on the function of accounting in society.
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Extra info for The Economics and Politics of Accounting: International Perspectives on Research Trends, Policy, and Practice
Some of the more intriguing models assume the auditor is a rational, utility-maximizing person. Appealing to institutional 22 ALFRED WAGENHOFER audit arrangements, it is usually assumed that the auditor is paid a ﬁxed fee, and the only sanction is if the auditor is caught not having fulﬁlled his task so that a penalty is imposed or a loss of reputation occurs. This setting, while supported by the institutional setting, is clearly a questionable exogenous restriction on feasible contracts with the auditor.
What these “insights” have in common is that they are wrong, at least in the general terms in which they are stated. It is mainly analytical accounting research that explains the reasons for this conclusion, and that suggests that more careful thinking on such issues is warranted. This chapter discusses the approaches taken by analytical research and the types of results that analytical models can achieve. 6 ALFRED WAGENHOFER The objective is to reﬂect on the merits of analytical models in ﬁnancial accounting research and to provide some arguments on why it may be useful to invest in doing, or at least appreciating, this type of research.
G. taking into account differential national tax rates) to inﬂuence games between the ﬁrm and other parties. g. Baldenius and Ziv 2003). See for example Demski and Feltham (1978) and Magee (1980) for budgeting models. For instance, in agency models the agent is usually assumed to accept the contract if it offers the same expected utility than the reservation utility. Assuming instead that the agent must have a strict beneﬁt from accepting the contract may lead to a situation in which, formally speaking, no solution exists, since optimization occurs over an open interval.