فصلنامه مطالعات حسابداری و حسابرسی
پیاپی 2 (تابستان 1391)

Graduate Accounting Student at Faculty of Management University of Tehran, IranReview the literature of conservatism in financial reporting indicates the importance of conservatism in accounting profession. Researchers have always tried to determine the degree and factors of conservatism in financial reporting and accounting, although this is not done easily, because there is not a direct measure of conservatism. However, conservatism has always been one of the key principles in accounting, and regardless of the difficulties in its measuring; it can have a major impact on the information content of financial statements. Consequently, the main purpose of this paper is to review the changes of accruals and MTB ratio over time in order to know the changes in financial reporting in Iran, because theevidence in the accounting literature shows conservatism in financial reporting increases over time. In fact, the validity of such claim make all time-series analysis of financial statements meaningless and misleading (which is considered an important source of information in financial markets). So studying about Iran accounting system is important and substantial for all groups of stakeholders. Due to the lack of a generally accepted definition of conservatism, some of conservatism proxies in financial reporting are defined and examined in this paper. This measures focus on the accumulation of non-operating accruals and MTB ratio. Statistical population of this research is the companies listed in Tehran Stock Exchange (TSE) since 2003 to 2011. After adjusting for outliers, sample consists of 116 companies. Although definitive conclusions is impossible, the existent evidence of financial reporting in TSE firms does not support the hypothesis of this paper and shows that the degree of conservatism in accounting has not increased over past decade.

Justice as an effective factor of developing in organizational justice plays an important role in accounting and accountability system. Justice is emphasized as a significant judicative criterion of reporting in ethical principle of accounting. Because such this phenomenon is considered as warranty of accuracy and conformity of financial statements are prepared and verified by accountants. If we accept that accounting system is an information transmission flow between responder and who takes respond, accountant is supposed to be considered as third side of this transmission to secure both sides about developing fluent flow of information. Thus, the role of accountant usefulness as an insurance role in information flow is realized just by conformity to justice.

One of the criteria for evaluating performance and assessing the financial health of the business units is free cash flow (FCF), that for first introduced by Jensen. Free cash flow can be having important and useful applications for business managers and shareholders. An important issue about the free cash flow is the agency problems of free cash flow. According to Jensen research managers in firms with high free cash flows and low growth likely to maintain their interest turn to earning management. Several studies that performed after Jensen research in this field also confirmed earning management in such firms. In this paper, mentioned the definition of free cash flows have been made by the individuals. And the importance and application of free cash flows to shareholders, investors and business executives are examined. And continually several portion about the free cash flows to be expressed. Finally, the role of free cash flow as a stimulus for earnings management in business and the factors that according to research findings can be considered to offset this incentive are examined.

The objective of the present paper is to investigate the effect of oil price and income shocks on stocks’ real return in listed firms of Tehran Stocks Exchange. In order to investigate the effect, seasonal data during 1374-1388 were used and ARDL method was applied. In addition, the effect of GDP, inflation rate, trading volume, exchange rate and cash volume on real return of listed firms of Tehran Stocks Exchange were analyzed. The results showed that the effect of oil price and income shocks on real returns of food, chemical and non-metal industries were negative and significant. Furthermore, the effect of exchange rate on real returns of the mentioned industries was positive and significant. In addition, the effect of inflation rate on food industry is positive. Overall, none of the trading volume, cash volume and GDP variables didn’t have a significant contribution on stocks’ real return fluctuations. In addition, these variables didn’t have any effects on real returns of wood and metal industries.

This paper analyses the benefits of accounting regulation and a conceptual framework using an information economics approach that allows consideration of uncertainty, multiple agents, demand for information, and multiple information sources. It also allows private information to enter the analysis. The analysis leads to a set of fundamental properties of accounting information. It is argued that the set of qualitative characteristics typically contained in conceptual frameworks does not adequately aggregate the information demands of users of accounting information. For example, the IASB’s conceptual framework contains no guidelines for the trade-off between relevance and reliability. Furthermore, neutrality might not be part of an optimal regulation. The statistical bias introduced by the stewardship use of accounting information is not necessarily undesirable and will always remain; stewardship is the characteristic of accounting infbrrnation that provides incentives for management to act in the desired way. Accounting inFormation is inherently late compared to other information sources hut influences and constrains the content of more timely sources. The accounting system does not exist in a vacuum. Other information sources are present and the purpose of’ the accounting system cannot be analysed without considering the existence of other information sources. Finally, financial statements are audited by an independent auditor. This implies that accounting data are hard to manipulate.

Since the inception of governments, Accountability with accounting had connection. In this connection, Accounting has the main role in accountability performance and evaluation. As well as, Accountability considered as base and foundation of accounting. In recent years, has been created new accountability methods, such as web and online accountability. The other, the existent of different perspectives such as democratic, constitutional and learning where caused Dual role of accounting and accountability got public attention. In this paper, states Dual role of accounting and accountability in public with different perspectives. In democratic perspective, accounting and accountability should effectively link government activities to responsibility chains. In constitutional perspective, it is necessary to prevent and or discover financial fraud using accounting information based on accountability. In learning perspective, government accountability efficiency is related with accounting information system efficiency.

The present article intends to study and explain the status of Operatipnal Audit in current economic system of Iran. To do so, populations’ level of recognition for Operational Audit and their sensitivity and stress on its performance for the listed companies in Tehran Security Exchange (TSE) were investigated. The research population included university auditing professors; the board of directors and top managers; TSE trustful auditors; and the experts, the consultants and the financial analysts. Adopting a convencing sampling 116 repondants were addressed in 2011. The cumulated data were classified for 15 variables and Binominal test were run for hyphothesiss testing using SPSS 19 software.The results indicated that the sample had a primery recognition of Operation Audit, were very sensitive and emphatic for its setting down and execution in TSE.