The government revenue and government expenditure nexus: empirical evidence from nine Asian countries

The nexus between government revenue and government expenditure has been an important topic in public economics. In this paper, we investigate evidence for cointegration and causality between government revenue and government expenditure for nine Asian countries. We use the recently developed bounds testing approach to cointegration and the conventional F-test to examine Granger causality. Our empirical results suggest that for three out of the nine countries government revenue and government expenditure are cointegrated. Our results on the direction of causation are mixed: (a) for Indonesia, Singapore, Sri Lanka in the short-run and for Nepal in both the short- and long-run we find support for the tax-and-spend hypothesis; (b) Indonesia and Sri Lanka are in conformity with the spend-and-tax hypothesis in the long-run; and (c) for other countries there is evidence of neutrality.     

会计专业毕业生面向有色金属行业就业的探索和实践

有色金属行业是我国国民经济的重要组成部分，直接影响到国家经济的发展和社会的稳定。根据有色金属行业的特点，鼓励和引导优秀毕业生到基层，到祖国需要的地方去，满足有色金属行业对人才的迫切需求，探索一条会计专业毕业生面向有色金属行业就业新途径。     

美国会计目标研究的历史考察及其对我们的启示

会计目标不仅是一个重要的理论问题,亦是一个重要的实际问题。美国是世界上研究会计目标最早、取得研究成果最丰富的国家之一。从美国会计学会1966年发表基本会计理论研究公告算起,美国从事会计目标研究已有30余年的历史。美国会计学会、会计原则委员会、特鲁布罗德委员会、财务会计准则委员会都对会计目标的研究作出过重要贡献,形成了像基本会计理论公告、APB第4号报告、特鲁布罗德报告和企业财务报告的目标等一系列研究成果。通过对美国会计目标研究历史的分析,我们从中可以得到如下三点启示: 第一,会计目标的研究与对会计本质的认识密不可分; 第二,会计目标研究应密切联系一定的社会经济环境; 第三,会计目标研究应采取理论分析与实证研究相结合的方法。     

The Long-run Effects of the Italian Pension Reforms

The paper analysesthe reforms of the Italian mandatory pension scheme for employeeslegislated in the 1990s. To assess the effects of the reforms,a microsimulation model calibrated on cross-section data is developed.The model is aimed at estimating the average income of a memberof a cohort, as well as the average per capita income of allindividuals alive in a given year. The long-run effects of thereform are analysed, comparing the characteristics of alternativefinancing schemes. A substantial improvement of the equity aswell as the long-run sustainability of the Italian public pensionschemes emerges. However, the dreary demographic scenario callsfor further tightening of eligibility rules sometime in the nextdecades if long-run sustainability of public debt is to be achieved.On the basis of sensitivity analysis, some changes aimed at hedgingthe system against unexpected shocks are suggested.     

Free cash flow, debt-monitoring and managers' LIFO/FIFO policy choice

This paper explores the explanatory power of Jensen's free cash flow hypothesis in managers' choice of LIFO versus FIFO. The association between FCF, and choice of inventory methods is based on the assumption that there is a potential conflict of interest between managers and shareholders when LIFO is the tax minimization method and that non-value-maximizing managers of firms with the FCF problem have incentives to choose FIFO, an income increasing method, in order to increase their compensation. However, since debt can act as a monitoring device and mitigate the agency problems of FCF, managers of firms with high FCF and high debt are less likely to choose FIFO than managers of firms with high FCF and low debt. The evidence is consistent with this expectation.     

Goodwill—an Example of Puzzle-Solving in Accounting—a Reply

Grinyer and Russell's (G&R, 1992) contention that Ma and Hopkins (1988) have imposed the mutually exclusive rules of the valuation-based paradigm on the matching-based paradigm that underlies accounting practice is overly defensive and misguided. Our 1988 paper was an attempt to throw light on why there was so little agreement on the rules governing the treatment of goodwill. G&R's comment does not change our view that the only answer to the 'puzzle' lies in the lack of a full understanding of the nature of goodwill.     

An Important Field： Environmental Accounting

With the environmental crisis, the government has issued many regulations, and the importance of environmental accounting also become more and more attached. This paper will focus on the standards and information of environmental accounting.     

加强中小企业财务会计管理工作的探讨

中小企业对我国国民经济的发展起着重要的作用,然而中小企业的财务会计管理工作却存在人才缺乏、机制不健全等问题。针对这一问题,本文提出了加强中小企业的会计核算与财务管理工作的对策。     

管理会计应用调查与反思

本文基于管理会计应用缺乏广泛性及效果不理想的原因进行调查分析,认为迫切需要解决的是降低管理会计技术操作难度,实现管理会计规范化和ERP与管理会计系统的融合的两个突破。     

浅谈会计信息供求的特殊性

会计信息作为一种特殊的商品和普通商品一样,也存在供给方和需求方,会计信息要实现其价值和使用价值,必须在供求双方之间进行交易,因此,会计信息也遵循一般商品的交换规律。但是,由于会计信息既具有公共物品的属性又具有私人物品的属性,所以在供求交换的过程中,又具有自己的特殊性。而正是这种特殊性,使得会计信息市场处于混乱状态,因此,探讨会计信息供求的特殊性具有重要的现实意义。