5Positive Accounting Theory อธิบายและคาดกาล (Explain and Predict)มาตรฐานและวิธีการด้านบัญชีโดยการกำหนดจากผู้สังเกตการณ์
6Agency TheoryThe agent (like the principal) will be driven by self-interest, and therefore the principals will anticipate that the manager, unless restricted from doing otherwise, will undertake self-serving activities that could be detrimental to economic welfare of the principals.
7Efficient Market Hypothesis (EMH) The capital markets react in an efficient and unbiased manner to publicly available information.
8Positive Accounting Theory Assumptions:The accountants (and, in fact, all individuals) are primarily motivated by self-interest (tied to wealth maximisation), and that the particular accounting method selected (where alternative are available).
9The Three Hypotheses The Bonus Plan Hypothesis The Debt Covenant HypothesisThe Political Cost Hypothesis
10The Bonus Plan Hypothesis Bonus based on net incomeTo get more bonus, choosing accounting methods that increase current reported earnings
11The Bonus Plan Hypothesis All other things being equal, managers of firms with bonus plans are more likely to choose accounting procedures that shift reported earnings from future periods to the current period
12The Bonus Plan Hypothesis Because of the nature of of the accrual process, this will tend to lower future reported earnings and bonuses, other things equal.PV of manager’s utility from future bonus stream will be increased by shifting earnings toward the present
13The Bonus Plan Hypothesis การพิจารณาการบริหารและบุคคลากรภายในองค์กร
14The Debt Covenant Hypothesis All other things being equal, the closer a firm is to violation of accounting-based debt covenants, the more likely the firm manager is to select accounting procedures that shift reported earnings from future periods to the current period
15The Debt Covenant Hypothesis Violation of debt covenant is costlyRestriction on dividendsLimit additional borrowingIssuance of stock, …Increase current earnings Assets increaseTo avoid violation
17The Political Cost Hypothesis All other things equal, the greater the political costs (taxes, regulations) faced by a firm, the more likely the manager is to choose accounting procedures that defer reported earnings from current to future periods
18The Political Cost Hypothesis Large firm with high profit attracts media, consumers, and politicians attentionLarge firm trend to reduce profit reports
19The Political Cost Hypothesis การพิจารณาปัจจัยภายนอก การเมือง สภาพแวดล้อม ผู้ถือหุ้น เป็นต้น