外文翻譯--稅務(wù)會(huì)計(jì)與財(cái)務(wù)會(huì)計(jì)一致下，影響公司會(huì)計(jì)政策選擇的因素（節(jié)選）

1、<p>　　中文2940字，1990單詞</p><p><b>　　外文文獻(xiàn)翻譯 </b></p><p><b>　　原文： </b></p><p>　　Factors influencing a firm’s accounting policy decisions when tax accounting

2、and financial accounting coincide</p><p>　　1. Introduction </p><p>　　A firm's accounting policy decisions are made on the basis of the economic consequences of the alternative policies.

3、 According to Holthausen and Leftwich, a firm's reporting policy choice has economic consequences when changes in the rules used to calculate accounting numbers alter the distribution of a firm's cash flows, or t

4、he wealth of parties who use those numbers for contracting or decision making. In addition to their use in the contracting agreements between the various parties of a firm,</p><p>　　The aim of this stud

5、y is to provide an understanding of the factors that influence the accounting-policy decisions of firms operating in an accounting environment in which tax rules are used for financial reporting purposes. For this p

6、urpose, the accounting environment of Greece has been chosen. In Greece, tax accounting and financial accounting coincide and it is expected that tax considerations will influence management's accounting policy

7、decisions. This study investigates whether non-tax con</p><p>　　Factors giving rise to significant non-tax costs </p><p>　　The significance of tax benefits and non-tax costs are conditional

8、 upon certain characteristics of a firm. A firm’s ownership structure has been hypothesized to be associated with the magnitude of the non-tax costs that can be generated from tax-minimizing strategy. The manag

9、ement of firms characterized by a diffuse downership and a separation between management and ownership might facesignificant non-tax costs. The extensive use of accounting-basedcontracts in these firms can induce ma

10、nagers to</p><p>　　In Greece, as in many European countries (e.g. France, Italy), the ownership-structure of the majority of the firms is characterized by a high level of concentration (Nobes and Parker

11、, 2000). In most cases the owners are actively involved in their companies’ administration, occupying important posts within the organizational structure of their firms (OECD, 1995; Makridakis et al., 1997; Sykianak

12、is, 2004). Firms’ owners can directly and effectively monitor and motivate their subordinate managers </p><p>　　The use of accounting figures in a firm’s negotiations with the providers of credit capita

13、l, and the inclusion of accounting numbers-based terms in the debt agreements, suggest that a particular accounting choice can generate important non-tax costs (Wolfson,1993). Lower reported profit figures may adver

14、sely influence the banks’credit decisions, and thus raise the cost of capital for the firm (Deakin, 1979).Furthermore, the violation of the terms of loan agreements places a firm in technical def</p><p>　　Ba

15、nks are the main providers of funds for Greek companies. The dominant role of bank credit in the financing of business enterprises is a distinct characteristic not only of the Greek business environment, but also of

16、 many other European countries(e.g. France, Germany). Banks have developed a close relationship with many companies, while in certain cases they own part of the firm’s share capital. Thus, banks in many in

17、stances may directly obtain any relevant financial information, without having</p><p>　　. . . even listed companies in continental countries are dominated by banks, governments or families, th

18、e need for published information is less clear . </p><p>　　Furthermore, in Greece the large state-controlled banks are not supposed to always base their credit decisions on entirely objective and r

19、ational financial criteria (OECD,1995; Papas, 1993; Makridakis et al., 1997). Consequently, the importance of public accounting information may further diminish. Moreover, a consequence of the close relationshi

20、p between banks and companies is such that a violation of a debt covenant may not have serious consequences for a firm. Within this context, a tax-reduc</p><p>　　Yet, some significant non-tax costs can

21、still arise. Even if economic criteria do not always play a crucial role in banks’ credit decisions, most companies will be required to meet some official criteria based on accounting numbers when making a loan appl

22、ication. If the applying firm has a strong link with a particular bank, one cannot rule out the possibility that the bank’s officials will tolerate some “adjusting” of accounting figures in order to allow the firm t

23、o comply with the relevant ter</p><p>　　If managers believe that stock prices react more strongly to reported income than to cash flow, the public capital market introduces a potential non-tax cost that serv

24、es to discourage them from [tax] conformity, even if conformity increases the firm’s expected future cash flows. . . . , if new investors and creditors are willing to supply funds on terms that are af

25、fected by reported accounting numbers, managers and existing shareholders may unanimously wish to report high income, even at the exp</p><p>　　According to the Greek financial press, accounting figures have

26、a dominant influence on the firm’s stock value. Furthermore, it has been asserted that it is not uncommon for listed firms to get involved in income management through the selective application of accounting policie

27、s. Within this context, it can be expected that a tax-reducing policy due to its decreasing influence on the level of reported profits, can generate for the Greek public firms some non-tax costs, which may prevent t

28、hem fr</p><p>　　Methodology </p><p>　　The above discussion indicates that management’s perceptions regarding the impact of accounting figures on the users of accounts might generate important no

29、n-tax costs for a firm pursuing a tax-reducing policy. A postal survey was conducted in order to gather information relating to management’s perceptions about the influence of accounting figures upon the users of ac

30、counts. The respondents were asked to indicate the extent to which they believe that accounting information influences: </p><p>　　. the lending decisions of the providers of debt capital; and&

31、#160;</p><p>　　. the firm’s share price.</p><p>　　Furthermore, this study investigates the extent to which certain profit-related objectives were pursued. The following income-related

32、objectives have been identified: </p><p>　　. the minimization of the firm’s tax burden; </p><p>　　. the reporting of profits that will influence the firm’s share price; 

33、</p><p>　　. the reporting of profits that will influence the banks’ credit decisions; </p><p>　　.the reporting of profits that will enable the firm to avoid breaching the debt covenants. So

34、urce: Christos Tzovas. Factors influencing a firm’s accounting policy decisions when tax accounting and financial accounting coincide[J].Managerial Auditing Journal, 2006:372-386. </p><p><b>

35、　　譯文： </b></p><p>　　稅務(wù)會(huì)計(jì)與財(cái)務(wù)會(huì)計(jì)一致下，影響公司會(huì)計(jì)政策選擇的因素</p><p>　　一個(gè)公司的會(huì)計(jì)政策的選擇是以替代政策的選擇為基礎(chǔ)?；魻査魃腿R夫特威克認(rèn)為， 當(dāng)一個(gè)公司報(bào)告政策的選擇具有經(jīng)濟(jì)后果時(shí)，那么當(dāng)事人一方使用會(huì)計(jì)數(shù)字就可以進(jìn)行財(cái)富的決策，當(dāng)這些數(shù)字的規(guī)則變化了，就會(huì)改變?cè)摴镜默F(xiàn)金流的分布。此外，他們使用各個(gè)公司之間的合同協(xié)議，來(lái)報(bào)告

36、一家公司的稅收水平是否可靠。如果其稅收水平是可靠的，那么相同的會(huì)計(jì)處理就可以用來(lái)反映在財(cái)務(wù)報(bào)告上并達(dá)到稅收的目的。 稅收籌劃可以使該公司達(dá)到少繳稅的目的，因此，其對(duì)一家公司的現(xiàn)金流入具有積極的影響。假設(shè)市場(chǎng)是合理以及高效的，那么，會(huì)計(jì)政策就可以達(dá)到稅收最小化，收入與利潤(rùn)最大化的結(jié)果。然而，考慮到一家企業(yè)稅收負(fù)擔(dān)的減少通常伴隨著其報(bào)告收入的減少，在特定環(huán)境下，稅收籌劃就可能對(duì)公司的一些相關(guān)方面產(chǎn)生重要的影響。該公司的一個(gè)不利方面就顯現(xiàn)出來(lái)

37、了，就是可能會(huì)帶來(lái)該公司報(bào)告數(shù)據(jù)水平的下降，可能影響該公司有關(guān)的能力，股東和經(jīng)理的個(gè)人財(cái)富也可能會(huì)受到影響。這些影響已被指定為“非稅” 的成本或財(cái)務(wù)報(bào)告的成本，從而妨礙了稅收政策實(shí)施的有效性。每一個(gè)企業(yè)應(yīng)該對(duì)隨之而來(lái)的貿(mào)易非稅收成本估量一個(gè)會(huì)計(jì)選擇的稅收優(yōu)惠。這種權(quán)衡的結(jié)果應(yīng)該能影響一個(gè)公司的會(huì)</p><p>　　這項(xiàng)研究的目的是提供一個(gè)可理解的因素，這個(gè)因素可以影響一家公司在特定會(huì)計(jì)環(huán)境下對(duì)會(huì)計(jì)政策的選擇。為

38、此，希臘的會(huì)計(jì)環(huán)境已被選定。在希臘，稅務(wù)會(huì)計(jì)與財(cái)務(wù)會(huì)計(jì)具有一致性，能影響管理層的會(huì)計(jì)政策選擇的確定。研究就是要探討是否非稅收方面的考慮會(huì)影響公司的會(huì)計(jì)政策選擇的決定，并提示他們是否偏離了稅收政策。在希臘更廣泛的經(jīng)濟(jì)及營(yíng)商環(huán)境的結(jié)構(gòu)特點(diǎn)影響了非稅收成本涉及到的特定會(huì)計(jì)政策選擇。希臘會(huì)計(jì)和其他歐洲及非歐洲國(guó)家的營(yíng)商環(huán)境的相似性意味著，這項(xiàng)研究結(jié)果可能對(duì)于在一定程度上了解其他國(guó)家經(jīng)營(yíng)企業(yè)的會(huì)計(jì)政策有幫助。 </p><p&

39、gt;　　在希臘，在許多歐洲國(guó)家（如法國(guó)，意大利），大部分的公司所有權(quán)結(jié)構(gòu)的特點(diǎn)是高水平的高度集中（諾貝斯和帕克，2000年）。在大多數(shù)情況下，業(yè)主積極參與其公司的管理，其在企業(yè)的組織結(jié)構(gòu)中占有重要的崗位（經(jīng)合組織，199年; Makridakis等，1997; Sykianakis，2004）。公司的所有者可以直接和有效 監(jiān)督和激勵(lì)下屬的經(jīng)營(yíng)，他們并不需要使用刺激性計(jì)劃。此外這些公司的經(jīng)理就可以傳遞信息，而不必依賴財(cái)務(wù)報(bào)表直接向上級(jí)所

40、有者傳遞信息。在這種情況下，它認(rèn)為大多數(shù)希臘企業(yè)的所有制結(jié)構(gòu)有助于采納一個(gè)積極的稅收減少的會(huì)計(jì)政策，因?yàn)樗麄兯袡?quán)狀況似乎并沒有產(chǎn)生明顯的非稅收成本。一家公司會(huì)計(jì)數(shù)據(jù)的使用與信貸資金提供者，以及對(duì)以會(huì)計(jì)數(shù)劇為基礎(chǔ)的債務(wù)協(xié)議的條款列入都有關(guān)聯(lián)。</p><p>　　一個(gè)公司的談判表明，使用一個(gè)特定的會(huì)計(jì)選擇會(huì)產(chǎn)生重要的非稅成本（歐勝， 1993）。低報(bào)的利潤(rùn)數(shù)字可能產(chǎn)生不利影響，從而提高公司的資本（迪肯，1979）

41、 的成本。此外，貸款協(xié)議的條款違反了地方的默認(rèn)情況下，會(huì)產(chǎn)生一個(gè)堅(jiān)定的（戈帕拉克里希南與帕卡什，1995 年）特別不利的后果。為了減少這些事件的發(fā)生的可能性， 公司更可能采用收入增加的會(huì)計(jì)政策。然而，這樣的決定是最有可能與重要的稅收成本相聯(lián)系， 因?yàn)閳?bào)告收入的增加很可能會(huì)導(dǎo)致后續(xù)的應(yīng)納稅所得額（Maydew，1997 年） 的增加。一個(gè)企業(yè)的財(cái)務(wù)杠桿運(yùn)用，作為該公司的債務(wù)資本的需求代理，其鄰近違反債務(wù)契約（佳士，1990年）。越是運(yùn)用杠

42、桿的企業(yè)將越面臨更高的非稅收成本， 因此他們更可能選擇的使收入增加得選擇。實(shí)證研究結(jié)果發(fā)現(xiàn)，更多的杠桿企業(yè)從非稅收成本的權(quán)衡中取得稅收優(yōu)惠。 </p><p>　　銀行是希臘公司資金的主要提供者。銀行信貸在企業(yè)融資業(yè)務(wù)的主導(dǎo)作用是它的一個(gè)顯著特點(diǎn)。銀行已經(jīng)與許多公司密切的關(guān)系，在特定情況下，他們自己就是公司的股本的一部分。因此，在許多情況下，銀行可直接獲得任何相關(guān)的財(cái)務(wù)資料， 而不必依靠公開披露的數(shù)據(jù)。有人認(rèn)為，

43、事實(shí)上，很多歐洲的會(huì)計(jì)，尤其是財(cái)務(wù)會(huì)計(jì)一直占據(jù)著國(guó)家的稅收法規(guī)和有沒有發(fā)展成一個(gè)真正獨(dú)立的分支機(jī)構(gòu)可部分歸因于一個(gè)事實(shí)：</p><p>　　國(guó)家甚至大陸的上市公司是由銀行，政府或家庭為主，對(duì)發(fā)布信息的需要是不太清楚。</p><p>　　此外，在希臘的大型國(guó)有控股銀行不應(yīng)該時(shí)刻以完全客觀、其合理的財(cái)政和信貸決策組織為標(biāo)準(zhǔn)（OECD，1995; 帕帕斯，1993 年; Makridakis

44、 等，1997。）。因此，公共會(huì)計(jì)信息的重要性可能會(huì)進(jìn)一步減弱。此外，一些銀行和公司之間的密切關(guān)系，可能會(huì)嚴(yán)重影響一些公司， 違反債務(wù)契約可能沒有為公司帶來(lái)嚴(yán)重的后果。在這種情況下，稅收減少的策略是不會(huì)引起重要的非稅成本。 </p><p>　　然而，一些重要的非稅收成本仍然可以出現(xiàn)。即使經(jīng)濟(jì)條件并不總是允許發(fā)揮銀行的信貸決策的重要作用，大部分企業(yè)將被要求滿足會(huì)計(jì)數(shù)字的貸款申請(qǐng)時(shí)的一些官方的標(biāo)準(zhǔn)。如果申請(qǐng)公司已經(jīng)

45、與某銀行有強(qiáng)有力的聯(lián)系(不能排除這種可能性) 銀行的官員會(huì)容忍一些“調(diào)整” 的會(huì)計(jì)數(shù)據(jù)，以幫助企業(yè)遵守有關(guān)條款。因此，一個(gè)通過適當(dāng)?shù)臅?huì)計(jì)政策選擇的會(huì)計(jì)數(shù)字可能得到加強(qiáng)。此外，它不能假定所有的企業(yè)享有與銀行有密切的關(guān)系的特權(quán)。因此，財(cái)務(wù)會(huì)計(jì)問題仍然可以影響一個(gè)公司的會(huì)計(jì)政策的決定。在一個(gè)有效運(yùn)作的資本市場(chǎng)的框架內(nèi)，公眾（上市）公司的股東希望提高現(xiàn)金流量，因?yàn)檫@將導(dǎo)致更高的股價(jià)。因此，高稅收的儲(chǔ)蓄將是首選。這可能對(duì)希臘的公共企業(yè)而言， 由于

46、他們大部分是業(yè)主控制的公司和持股構(gòu)成，所有者經(jīng)理人的個(gè)人財(cái)富占很大比例。 然而， 會(huì)計(jì)數(shù)劇可能對(duì)提高公司的股價(jià)以及財(cái)務(wù)報(bào)告的數(shù)據(jù)的分配起到重要影響。 一個(gè)公司的管理層可能認(rèn)為，報(bào)告的數(shù)字有一個(gè)相當(dāng)大的影響影響其股價(jià)。這種影響可能比在對(duì)公司的稅務(wù)負(fù)債水平可能發(fā)生變化的總和還多。在這種情況下，它可能是一個(gè)公司的管理層將目標(biāo)報(bào)告更高的數(shù)字，以影響其股票價(jià)格導(dǎo)致的結(jié)果，盡管它的稅收成本相應(yīng)的增加</p><p>　　如果

47、管理者認(rèn)為，股票價(jià)格而不是現(xiàn)金流量的反應(yīng)更為強(qiáng)烈，那么公共資本市場(chǎng)就引入了一個(gè)潛在的非稅收成本， 旨在阻止稅費(fèi)不相符，即使符合增加了公司的預(yù)期未來(lái)現(xiàn)金流量……如果新的投資者和債權(quán)人愿意提供由會(huì)計(jì)數(shù)劇以及管理人員和現(xiàn)有股東的影響可能性一致的報(bào)告，甚至在資金方面支付額外的費(fèi)用高收入的稅收，也就是說，企業(yè)價(jià)值可能被高收入申報(bào)納稅，而不是減少克洛伊德等最大化。 </p><p>　　希臘金融出版社認(rèn)為， 會(huì)計(jì)數(shù)劇有一個(gè)公

48、司的股票價(jià)值占主導(dǎo)地位的影響。此外， 它一直聲稱通過參與管理的會(huì)計(jì)政策選擇中的應(yīng)用，它的情況在上市公司獲得的收入中并不鮮見。在這種情況下，可以預(yù)期：一個(gè)稅收政策由于降低對(duì)報(bào)告的利潤(rùn)水平的影響， 能為企業(yè)帶來(lái)一些公共非稅收成本，而這又有可能會(huì)阻止他們奉行這樣的政策。 </p><p><b>　　方法論 </b></p><p>　　上述討論表明, 管理有關(guān)在用戶帳戶上

49、統(tǒng)計(jì)數(shù)據(jù)的觀念可能產(chǎn)生重要的影響， 即公司追求稅收減少的影響。郵政調(diào)查是為了收集有關(guān)會(huì)計(jì)數(shù)據(jù)對(duì)用戶賬目影響的信息。 受訪者被要求表明在一定程度上他們認(rèn)為的會(huì)計(jì)信息的影響:</p><p>　　. 貸款的決定;  </p><p>　　.債務(wù)資本的提供者; </p><p><b>　　.公司的股價(jià)。</b>

50、;</p><p>　　此外, 本研究旨在探討在一定程度上與利潤(rùn)有關(guān)的追求。以下與收入相關(guān)的目標(biāo)已被識(shí)別: </p><p>　　對(duì)應(yīng)的公司的稅務(wù)負(fù)擔(dān);</p><p>　　利潤(rùn)的報(bào)告將影響公司的股價(jià); </p><p><b>　　銀行的信貸決策; </b></p><p>　　將使該公司避免違