美國財務(wù)概念框架NO2

Statementof

FinancialAccounting

ConceptsNo.2

CON2StatusPage

QualitativeCharacteristicsof

AccountingInformation

May1980

FinancialAccountingStandardsBoard

oftheFinancialAccountingFoundation

401MERRITT7,P.O.BOX5116,NORWALK,CONNECTICUT06856-5116

Copyright?1980byFinancialAccountingStandardsBoard.Allrightsreserved.No

partofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmitted,in

anyformorbyanymeans,electronic,mechanical,photocopying,recording,or

otherwise,withoutthepriorwrittenpermissionoftheFinancialAccountingStandards

Board.

Page2

CONTENTS

Paragraph

Numbers

SummaryofPrincipalConclusions

GlossaryofTerms

Introduction1-26

TheNatureofAccountingChoices6-20

TheObjectivesofFinancialReporting21-26

TheCentralRoleofDecisionMaking27-31

AHierarchyofAccountingQualities32—45

FeaturesandLimitationsoftheChart33-35

DecisionMakersandTheirCharacteristics36-39

UnderstandabilityandOtherUser-SpecificQualities40-41

RelativeImportanceandTrade-Offs42—45

Relevance46-57

FeedbackValueandPredictiveValueasComponentsofRelevance51-55

Timeliness56-57

Reliability58-97

RepresentationalFaithfulness63-80

DegreesofRepresentationalFaithfulness65-71

PrecisionandUncertainty72-76

EffectsofBias77-78

Completeness79-80

Verifiability81-89

ReliabilityandRelevance90

Conservatism91-97

Neutrality98-110

Comparability111-122

Consistency120-122

Materiality123-132

CostsandBenefits133-144

AppendixA:BackgroundInformation145-151

AppendixB:PrincipalRespectsinWhichThisStatementDiffers

fromtheExposureDraftandOtherResponsestoLettersofComment

ontheExposureDraft152-160

AppendixC:QuantitativeMaterialityConsiderations161-170

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CON2:QualitativeCharacteristicsofAccountingInformation

SUMMARYOFPRINCIPALCONCLUSIONS

ThepurposeofthisStatementistoexaminethecharacteristicsthatmakeaccounting

informationuseful.Thosewhoprepare,audit,andusefinancialreports,aswellastheFinancial

AccountingStandardsBoard,mustoftenselectorevaluateaccountingalternatives.The

characteristicsorqualitiesofinformationdiscussedinthisStatementaretheingredientsthat

makeinformationusefulandarethequalitiestobesoughtwhenaccountingchoicesaremade.

Allfinancialreportingisconcernedinvaryingdegreeswithdecisionmaking(though

decisionmakersalsouseinformationobtainedfromothersources).Theneedforinformationon

whichtobaseinvestment,credit,andsimilardecisionsunderliestheobjectivesoffinancial

reporting.Theusefulnessofinformationmustbeevaluatedinrelationtothepurposestobe

served,andtheobjectivesoffinancialreportingarefocusedontheuseofaccountinginformation

indecisionmaking.

Thecentralroleassignedtodecisionmakingleadsstraighttotheoverridingcriterionby

whichallaccountingchoicesmustbejudged.Thebetterchoiceistheonethat,subjectto

considerationsofcost,producesfromamongtheavailablealternativesinformationthatismost

usefulfordecisionmaking.

Evenobjectivesthatareorientedmoretowardsstewardshipareconcernedwithdecisions.

Stewardshipdealswiththeefficiency,effectiveness,andintegrityofthesteward.Tosaythat

stewardshipreportingisanaspectofaccounting'sdecisionmakingroleissimplytosaythatits

purposeistoguideactionsthatmayneedtobetakeninrelationtothestewardorinrelationto

theactivitythatisbeingmonitored.

AHierarchyofAccountingQualities

Thecharacteristicsofinformationthatmakeitadesirablecommoditycanbeviewedasa

hierarchyofqualities,withusefulnessfordecisionmakingofmostimportance.Without

usefulness,therewouldbenobenefitsfrominformationtosetagainstitscosts.

User-SpecificFactors

Inthelastanalysis,eachdecisionmakerjudgeswhataccountinginformationisuseful,

andthatjudgmentisinfluencedbyfactorssuchasthedecisionstobemade,themethodsof

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decisionmakingtobeused,theinformationalreadypossessedorobtainablefromothersources,

andthedecisionmaker'scapacity(aloneorwithprofessionalhelp)toprocesstheinformation.

Theoptimalinformationforoneuserwillnotbeoptimalforanother.Consequently,theBoard,

whichmusttrytocatertomanydifferentuserswhileconsideringtheburdensplacedonthose

whohavetoprovideinformation,constantlytreadsafinelinebetweenrequiringdisclosureof

toomuchortoolittleinformation.

Thehierarchyseparatesuser-specificqualities,forexample,understandability,from

qualitiesinherentininformation.Informationcannotbeusefultodecisionmakerswhocannot

understandit,eventhoughitmayotherwiseberelevanttoadecisionandbereliable.However,

understandabilityofinformationisrelatedtothecharacteristicsofthedecisionmakeraswellas

thecharacteristicsoftheinformationitselfand,therefore,understandabilitycannotbeevaluated

inoveralltermsbutmustbejudgedinrelationtoaspecificclassofdecisionmakers.

PrimaryDecision-SpecificQualities

Relevanceandreliabilityarethetwoprimaryqualitiesthatmakeaccountinginformation

usefulfordecisionmaking.Subjecttoconstraintsimposedbycostandmateriality,increased

relevanceandincreasedreliabilityarethecharacteristicsthatmakeinformationamoredesirable

commodity—thatis,oneusefulinmakingdecisions.Ifeitherofthosequalitiesiscompletely

missing,theinformationwillnotbeuseful.Though,ideally,thechoiceofanaccounting

alternativeshouldproduceinformationthatisbothmorereliableandmorerelevant,itmaybe

necessarytosacrificesomeofonequalityforagaininanother.

Toberelevant,informationmustbetimelyanditmusthavepredictivevalueorfeedback

valueorboth.Tobereliable,informationmusthaverepresentationalfaithfulnessanditmustbe

verifiableandneutral.Comparability,whichincludesconsistency,isasecondaryqualitythat

interactswithrelevanceandreliabilitytocontributetotheusefulnessofinformation.Two

constraintsareincludedinthehierarchy,bothprimarilyquantitativeincharacter.Information

canbeusefulandyetbetoocostlytojustifyprovidingit.Tobeusefulandworthproviding,the

benefitsofinformationshouldexceeditscost.Allofthequalitiesofinformationshownare

subjecttoamaterialitythreshold,andthatisalsoshownasaconstraint.

Relevance

?Relevantaccountinginformationiscapableofmakingadifferenceinadecisionbyhelping

userstoformpredictionsabouttheoutcomesofpast,present,andfutureeventsortoconfirm

orcorrectpriorexpectations.Informationcanmakeadifferencetodecisionsbyimproving

decisionmakers*capacitiestopredictorbyprovidingfeedbackonearlierexpectations.

Usually,informationdoesbothatonce,becauseknowledgeabouttheoutcomesofactions

alreadytakenwillgenerallyimprovedecisionmakers*abilitiestopredicttheresultsof

similarfutureactions.Withoutaknowledgeofthepast,thebasisforapredictionwill

usuallybelacking.Withoutaninterestinthefuture,knowledgeofthepastissterile.

?Timeliness,thatis,havinginformationavailabletodecisionmakersbeforeitlosesits

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capacitytoinfluencedecisions,isanancillaryaspectofrelevance.Ifinformationisnot

availablewhenitisneededorbecomesavailablesolongafterthereportedeventsthatithas

novalueforfutureaction,itlacksrelevanceandisoflittleornouse.Timelinessalone

cannotmakeinformationrelevant,butalackoftimelinesscanrobinformationofrelevanceit

mightotherwisehavehad.

Reliability

?Thereliabilityofameasurerestsonthefaithfulnesswithwhichitrepresentswhatitpurports

torepresent,coupledwithanassurancefortheuserthatithasthatrepresentationalquality.

Tobeuseful,informationmustbereliableaswellasrelevant.Degreesofreliabilitymustbe

recognized.Itishardlyeveraquestionofblackorwhite,butratherofmorereliabilityor

less.Reliabilityrestsupontheextenttowhichtheaccountingdescriptionormeasurementis

verifiableandrepresentationallyfaithful.Neutralityofinformationalsointeractswiththose

twocomponentsofreliabilitytoaffecttheusefulnessoftheinformation.

?Verifiabilityisaqualitythatmaybedemonstratedbysecuringahighdegreeofconsensus

amongindependentmeasurersusingthesamemeasurementmethods.Representational

faithfulness,ontheotherhand,referstothecorrespondenceoragreementbetweenthe

accountingnumbersandtheresourcesoreventsthosenumberspurporttorepresent.Ahigh

degreeofcorrespondence,however,doesnotguaranteethatanaccountingmeasurementwill

berelevanttotheuser'sneedsiftheresourcesoreventsrepresentedbythemeasurementare

inappropriatetothepurposeathand.

?Neutralitymeansthat,informulatingorimplementingstandards,theprimaryconcernshould

betherelevanceandreliabilityoftheinformationthatresults,nottheeffectthatthenewrule

mayhaveonaparticularinterest.Aneutralchoicebetweenaccountingalternativesisfree

frombiastowardsapredeterminedresult.Theobjectivesoffinancialreportingservemany

differentinformationuserswhohavediverseinterests,andnoonepredeterminedresultis

likelytosuitallinterests.

ComparabilityandConsistency

?Informationaboutaparticularenterprisegainsgreatlyinusefulnessifitcanbecompared

withsimilarinformationaboutotherenterprisesandwithsimilarinformationaboutthesame

enterpriseforsomeotherperiodorsomeotherpointintime.Comparabilitybetween

enterprisesandconsistencyintheapplicationofmethodsovertimeincreasesthe

informationalvalueofcomparisonsofrelativeeconomicopportunitiesorperformance.The

significanceofinformation,especiallyquantitativeinformation,dependstoagreatextenton

theuser'sabilitytorelateittosomebenchmark.

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Materiality

?Materialityisapervasiveconceptthatrelatestothequalitativecharacteristics,especially

relevanceandreliability.Materialityandrelevancearebothdefinedintermsofwhat

influencesormakesadifferencetoadecisionmaker,butthetwotermscanbedistinguished.

Adecisionnottodisclosecertaininformationmaybemade,say,becauseinvestorshaveno

needforthatkindofinformation(itisnotrelevant)orbecausetheamountsinvolvedaretoo

smalltomakeadifference(theyarenotmaterial).Magnitudebyitself,withoutregardtothe

natureoftheitemandthecircumstancesinwhichthejudgmenthastobemade,willnot

generallybeasufficientbasisforamaterialityjudgment.TheBoard'spresentpositionisthat

nogeneralstandardsofmaterialitycanbeformulatedtotakeintoaccountallthe

considerationsthatenterintoanexperiencedhumanjudgment.Quantitativemateriality

criteriamaybegivenbytheBoardinspecificstandardsinthefuture,asinthepast,as

appropriate.

CostsandBenefits

?Eachuserofaccountinginformationwilluniquelyperceivetherelativevaluetobeattached

toeachqualityofthatinformation.Ultimately,astandard-settingbodyhastodoitsbestto

meettheneedsofsocietyasawholewhenitpromulgatesastandardthatsacrificesoneof

thosequalitiesforanother;anditmustalsobeawareconstantlyofthecalculusofcostsand

benefits.Inordertojustifyrequiringaparticulardisclosure,theperceivedbenefitstobe

derivedfromthatdisclosuremustexceedtheperceivedcostsassociatedwithit.However,to

sayanythingpreciseabouttheirincidenceisdifficult.Therearecostsofusinginformation

aswellasofprovidingit;andthebenefitsfromprovidingfinancialinformationaccrueto

preparersaswellasusersofthatinformation.

?Thoughitisunlikelythatsignificantlyimprovedmeansofmeasuringbenefitswillbecome

availableintheforeseeablefuture,itseemspossiblethatbetterwaysofquantifyingthe

incrementalcostsofregulationsofallkindsmaygraduallybedeveloped,andtheBoardwill

watchanysuchdevelopmentscarefullytoseewhethertheycanbeappliedtofinancial

accountingstandards.TheBoardcannotceasetobeconcernedaboutthecost-effectiveness

ofitsstandards.Todosowouldbeaderelictionofitsdutyandadisservicetoits

constituents.

StatementsofFinancialAccountingConcepts

ThisStatementofFinancialAccountingConceptsisoneofaseriesofpublicationsinthe

Board'sconceptualframeworkforfinancialaccountingandreporting.Statementsintheseries

areintendedtosetforthobjectivesandfundamentalsthatwillbethebasisfordevelopmentof

financialaccountingandreportingstandards.Theobjectivesidentifythegoalsandpurposesof

financialreporting.Thefundamentalsaretheunderlyingconceptsoffinancial

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accounting-conceptsthatguidetheselectionoftransactions,events,andcircumstancestobe

accountedfor,theirrecognitionandmeasurement,andthemeansofsummarizingand

communicatingthemtointerestedparties.Conceptsofthattypearefundamentalinthesense

thatotherconceptsflowfromthemandrepeatedreferencetothemwillbenecessaryin

establishing,interpreting,andapplyingaccountingandreportingstandards.

Theconceptualframeworkisacoherentsystemofinterrelatedobjectivesand

fundamentalsthatisexpectedtoleadtoconsistentstandardsandthatprescribesthenature,

function,andlimitsoffinancialaccountingandreporting.Itisexpectedtoservethepublic

interestbyprovidingstructureanddirectiontofinancialaccountingandreportingtofacilitatethe

provisionofevenhandedfinancialandrelatedinformationthatisusefulinassistingcapitaland

othermarketstofunctionefficientlyinallocatingscarceresourcesintheeconomy.

Establishmentofobjectivesandidentificationoffundamentalconceptswillnotdirectly

solvefinancialaccountingandreportingproblems.Rather,objectivesgivedirection,and

conceptsaretoolsforsolvingproblems.

TheBoarditselfislikelytobethemostdirectbeneficiaryoftheguidanceprovidedby

theStatementsinthisseries.TheywillguidetheBoardindevelopingaccountingandreporting

standardsbyprovidingtheBoardwithacommonfoundationandbasicreasoningonwhichto

considermeritsofalternatives.

However,knowledgeoftheobjectivesandconceptstheBoardwilluseindeveloping

standardsshouldalsoenablethosewhoareaffectedbyorinterestedinfinancialaccounting

standardstounderstandbetterthepurposes,content,andcharacteristicsofinformationprovided

byfinancialaccountingandreporting.Thatknowledgeisexpectedtoenhancetheusefulnessof,

andconfidencein,financialaccountingandreporting.Carefuluseoftheconceptsmayalso

provideguidanceinresolvingneworemergingproblemsoffinancialaccountingandreporting

intheabsenceofapplicableauthoritativepronouncements.

StatementsofFinancialAccountingConceptsdonotestablishstandardsprescribing

accountingproceduresordisclosurepracticesforparticularitemsorevents,whichareissuedby

theBoardasStatementsofFinancialAccountingStandards.Rather,Statementsinthisseries

describeconceptsandrelationsthatwillunderliefuturefinancialaccountingstandardsand

practicesandinduecourseserveasabasisforevaluatingexistingstandardsandpractices.*

TheBoardrecognizesthatincertainrespectscurrentgenerallyacceptedaccountingprinciples

maybeinconsistentwiththosethatmayderivefromtheobjectivesandconceptssetforthin

Statementsinthisseries.However,aStatementofFinancialAccountingConceptsdoesnot(a)

requireachangeinexistinggenerallyacceptedaccountingprinciples,(b)amend,modify,or

interpretStatementsofFinancialAccountingStandards,InterpretationsoftheFASB,Opinions

oftheAccountingPrinciplesBoard,orBulletinsoftheCommitteeonAccountingProcedurethat

areineffect,or(c)justifyeitherchangingexistinggenerallyacceptedaccountingandreporting

practicesorinterpretingthepronouncementslistedinitem(b)basedonpersonalinterpretations

oftheobjectivesandconceptsintheStatementsofFinancialAccountingConcepts.

SinceaStatementofFinancialAccountingConceptsdoesnotestablishgenerally

acceptedaccountingprinciplesorstandardsforthedisclosureoffinancialinformationoutsideof

financialstatementsinpublishedfinancialreports,itisnotintendedtoinvokeapplicationof

Rule203or204oftheRulesofConductoftheCodeofProfessionalEthicsoftheAmerican

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InstituteofCertifiedPublicAccountants(orsuccessorrulesorarrangementsofsimilarscope

andintent)才

LikeotherpronouncementsoftheBoard,aStatementofFinancialAccountingConcepts

maybeamended,superseded,orwithdrawnbyappropriateactionundertheBoard'sRulesof

Procedure.

FASBPUBLICATIONSONCONCEPTUALFRAMEWORK

StatementsofFinancialAccountingConcepts

No.1,ObjectivesofFinancialReportingbyBusinessEnterprises(November1978)

ExposureDraftsBeing(orYettoBe)ConsideredbytheBoard

ElementsofFinancialStatementsofBusinessEnterprises(December28,1979)

ObjectivesofFinancialReportingbyNonbusinessOrganizations(March14,1980)

DiscussionMemorandumsandInvitationstoCommentHavingIssuesBeingConsideredby

theBoard

ReportingEarnings(July31,1979)

FinancialStatementsandOtherMeansofFinancialReporting(May12,1980)

OtherProjectsinProcess

AccountingRecognitionCriteria

FundsFlowsandLiquidity

GLOSSARYOFTERMS

Bias

Biasinmeasurementisthetendencyofameasuretofallmoreoftenononesidethanthe

otherofwhatisrepresentsinsteadofbeingequallylikelytofalloneitherside.Biasin

accountingmeasuresmeansatendencytobeconsistentlytoohighortoolow.

Comparability

Thequalityofinformationthatenablesuserstoidentifysimilaritiesinanddifferences

betweentwosetsofeconomicphenomena.

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Completeness

Theinclusioninreportedinformationofeverythingmaterialthatisnecessaryforfaithful

representationoftherelevantphenomena.

Conservatism

Aprudentreactiontouncertaintytotrytoensurethatuncertaintyandrisksinherentin

businesssituationsareadequatelyconsidered.

Consistency

Conformityfromperiodtoperiodwithunchangingpoliciesandprocedures.

FeedbackValue

Thequalityofinformationthatenablesuserstoconfirmorcorrectpriorexpectations.

Materiality

Themagnitudeofanomissionormisstatementofaccountinginformationthat,inthe

lightofsurroundingcircumstances,makesitprobablethatthejudgmentofareasonable

personrelyingontheinformationwouldhavebeenchangedorinfluencedbythe

omissionormisstatement.

Neutrality

Absenceinreportedinformationofbiasintendedtoattainapredeterminedresultorto

induceaparticularmodeofbehavior.

PredictiveValue

Thequalityofinformationthathelpsuserstoincreasethelikelihoodofcorrectly

forecastingtheoutcomeofpastorpresentevents.

Relevance

Thecapacityofinformationtomakeadifferenceinadecisionbyhelpinguserstoform

predictionsabouttheoutcomesofpast,present,andfutureeventsortoconfirmorcorrect

priorexpectations.

Reliability

Thequalityofinformationthatassuresthatinformationisreasonablyfreefromerrorand

biasandfaithfullyrepresentswhatitpurportstorepresent.

RepresentationalFaithfulness

Correspondenceoragreementbetweenameasureordescriptionandthephenomenonthat

itpurportstorepresent(sometimescalledvalidity).

Timeliness

Havinginformationavailabletoadecisionmakerbeforeitlosesitscapacitytoinfluence

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decisions.

Understandability

Thequalityofinformationthatenablesuserstoperceiveitssignificance.

Verifiability

Theabilitythroughconsensusamongmeasurerstoensurethatinformationrepresents

whatitpurportstorepresentorthatthechosenmethodofmeasurementhasbeenused

withouterrororbias.

INTRODUCTION

1.ThepurposeofthisStatementistoexaminethecharacteristicsofaccountinginformation

1thatmakethatinformationuseful.ThisStatementisoneofaplannedseriesofpublicationsin

theBoard'sconceptualframeworkproject.ItshouldbeseenasabridgebetweenFASB

ConceptsStatementNo.1,ObjectivesofFinancialReportingbyBusinessEnterprises,andother

Statementstobeissuedcoveringtheelementsoffinancialstatementsandtheirrecognition,

measurement,anddisplay.TheStatementonobjectiveswasconcernedwiththepurposesof

financialreporting.LaterStatementswillbeconcernedwithquestionsabouthowthosepurposes

aretobeattained;andthestandardsthattheBoardhasissuedandwillissuefromtimetotime

arealsointendedtoattainthosepurposes.TheBoardbelievesthat,inbetweenthe"why"of

objectivesandthe"how"ofotherStatementsandstandards,itishelpfultosharewithits

constituentsitsthinkingaboutthecharacteristicsthattheinformationcalledforinitsstandards

shouldhave.Itisthosecharacteristicsthatdistinguishmoreusefulaccountinginformationfrom

lessusefulinformation.

2.Althoughthosecharacteristicsareexpectedtobestable,theyarenotimmutable.Theyare

affectedbytheeconomic,legal,political,andsocialenvironmentinwhichfinancialreporting

takesplaceandtheymayalsochangeasnewinsightsandnewresearchresultsareobtained.

Indeed,theyoughttochangeifnewknowledgeshowspresentjudgmentstobeoutdated.Ifand

whenthathappens,revisedconceptsStatementswillneedtobeissued.

3.Althoughconventionallyreferredtoasqualitativecharacteristics,someofthemore

importantofthecharacteristicsofaccountinginformationthatmakeituseful,orwhoseabsence

limititsusefulness,turnoutoncloserinspectiontobequantitativeinnature(forexample,

costliness)ortobepartlyqualitativeandpartlyquantitative(forexample,reliabilityand

timeliness).Whileitwillsometimesbeimportanttokeepthosedistinctionsinmind,itwill

usuallybeconvenient,andnotmisleading,torefertoallofthecharacteristicsofinformation

discussedinthisStatementas"qualities"ofinformation.

4.Althoughthediscussionofthequalitiesofinformationandtherelatedexamplesinthis

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Statementreferprimarilytobusinessenterprises,theBoardhastentativelyconcludedthat

similarqualitiesalsoapplytofinancialinformationreportedbynonbusinessorganizations.The

Boardintendstosolicitviewsregardingitstentativeconclusion.2

5.Tomaximizetheusefulnessofaccountinginformation,subjecttoconsiderationsofthe

costofprovidingit,entailschoicesbetweenalternativeaccountingmethods.Thosechoiceswill

bemademorewiselyiftheingredientsthatcontributeto"usefulness"arebetterunderstood.The

characteristicsorqualitiesofinformationdiscussedinthisStatementare,indeed,theingredients

thatmakeinformationuseful.Theyare,therefore,thequalitiestobesoughtwhenaccounting

choicesaremade.Theyareasnearasonecancometoasetofcriteriaformakingthosechoices.

TheNatureofAccountingChoices

6.Accountingchoicesaremadeattwolevelsatleast.Atoneleveltheyaremadebythe

Boardorotheragenciesthathavethepowertorequirebusinessenterprisestoreportinsome

particularwayor,ifexercisednegatively,toprohibitamethodthatthoseagenciesconsider

undesirable.Anexampleofsuchachoice,mademanyyearsagobutstillacceptedas

authoritative,isthepronouncementbytheCommitteeonAccountingProcedureoftheAmerican

InstituteofCertifiedPublicAccountantsthatH...theexclusionofalloverheadsfrominventory

costsdoesnotconstitut