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New economic theories and the improvement of financial statements


[Abstract] into the 21st century, network, information, knowledge and high technology as the main characteristics of the new mode of economic operation began to take shape. In the new economy, the traditional accounting information system began exposing their old, inefficient and not suited to the problem, the financial statements as a result of accounting information system is focused on the output reflects these problems. Therefore, the new economic conditions to improve the financial statements should and should not be limited to the allocation of resources for the traditional services, the financial statements of the goals should be shifted to provide information for the knowledge holders.

[Key words] traditional economic theory; new economic theory; financial statements

into the 21st century, a new mode of economic operation began to show in front of people, this is the network, information, knowledge and high-tech as the main feature of the so-called New economy to the traditional economic theory have a great impact, for example, describes the inverse relationship between unemployment and inflation rates of the increasing marginal costs of supply and demand and the law of diminishing marginal utility has also been questioned. In the new economy, the traditional accounting information system exposed old, inefficient and not suited to the defect, as the output of the accounting information system is focused on the financial statements reflect this problem. This paper from the analysis of economic theory on the new start, trying to find new economic conditions, a breakthrough in improving the financial statements.

First, the traditional economic theory based on the financial statements

is well known that the main objective of financial accounting is to provide an entity's financial position, results of operations, cash flows and other information to assessment of various types of users to help manage the fulfillment of the fiduciary duty, and make economic decisions. Financial accounting information is the primary means of financial statements. Financial statements usually includes the balance sheet, income statement and cash flow, which is a popular international accounting practices. However, a long time, the financial statements has been subject to accounting theory, practitioners and government authorities of the accusations and criticism. Although since the 20th century, 70 years, the world accounting theory and practice in the continuous improvement of financial statements, but has not obtained satisfactory results. We believe that people improve the financial statements, too much attention focused on financial accounting theory and methodology on their own, without research from the economic theories, is the main constraint to improve the financial statements.

then, the traditional financial statements and what is the relationship between economic theory it?

First, traditional economic theory to resources as land, labor and capital,[link widoczny dla zalogowanych], three types of elements, and the scarcity of resources as the basic premise. Scarcity of resources to demand by institutional arrangements (market mechanisms or economic planning), so that each resource can be effectively deployed in the most appropriate place, so as to achieve It is the traditional financial statements to this theory as the fundamental starting point to land and labor resources are relatively unchanged for the hypothesis, the disclosure of capital flows among enterprises and configuration. In capital flows,[link widoczny dla zalogowanych], the financial statements is to play the role of information carrier, which provides financial information through to the outside, so that owners of capital through the reading and analysis of reports to understand the capital input-output ratio, and then make profit and avoid loss of decision-making, that is a profit or a capital devoted to the development prospects of the business, financial condition or the deterioration of the capital from the enterprise in the withdrawal, and ultimately the effective flow of social capital and the best configuration. In traditional economic theory, capital is the core element of resources,[link widoczny dla zalogowanych], land and labor can only play a role by means of capital, which determines the capital owner is the main information users of financial statements to the financial statements of the goals are also located in provide information to the owners of capital

Second, the economics of asymmetric information in the preparation of financial statements of the enterprise theory of the basic theoretical basis. Micro-economics of asymmetric information is one of the core. Accounting information as a special kind of specialized information, there is supply and demand information. The purpose of the preparation of financial statements for the social resources to achieve a reasonable, effective allocation, and information asymmetry will lead to market failure and inefficient allocation of resources. In the traditional economy, information industry, underdeveloped, backward means of access to information, capital owners access to relevant sources of financial information less, which necessarily requires the use of capital enterprises (operators) on a regular basis to provide financial capital owners report, which is an effective solution to the problem of asymmetric information the principal means.

Third, the marginal cost increase, diminishing marginal utility of supply and demand dictates that corporate financial statements reflect the company's material resources are exclusive and exclusive. A fixed assets such as business enterprises are sole use and control, at the same time, other companies can not be shared with, and the resources are gradually consumed. That is, if a resource is being used by others, then you can not get to use its income, that is, resources, diminishing marginal returns. The rules for the financial statements reflect the information provides a basic premise that the resources of the enterprise's unique situation is part of a business can not be shared with other companies. Law of increasing marginal costs of supply or the enterprise product pricing, determine profits, sales revenue and profit distribution as well as the theoretical basis.

In summary, the traditional form of financial statements regardless of their content, or its objectives, the preparation time and the information content point of view, the traditional economic theory are closely related. Traditional economics is based on the scarcity of resources based on the theorem theoretical system, then there is no doubt that the financial statements of this theory is the result of inference.

Second, the new and traditional economic theory, economic theory

the difference between the main characteristics of the new economy: information technology and other high-tech innovation, application and diffusion of the entire national economy development, economic development, high growth, high income, low inflation and low unemployment target. Although the new economy could not be an accurate, scientific definition, but most people think, the real new economy is knowledge-based economy as the core of the economic structure, its operating rules and with the traditional economic development model very different.

New Economy to constitute a real challenge to traditional economics.

First, the resource elements with the new content. The new economy with the resources and the traditional economy is different from the traditional economy emphasizes the material resources and the capital as to promote business growth and economic development of the core elements, and in relying on the knowledge economy of production, exchange, distribution and development of the new economy, knowledge will undoubtedly become the fourth outside the traditional elements of the three elements. In the new economy, resources are mainly used by the information, material resources, only a secondary part. Although it is still important resources of capital, but its importance tends to decrease. Differences in resources lead to production of different objects, the new economy of information products are mainly high value products, which determines the production and operation is very different from the past.

Second, the scarcity of resources has been given a new meaning. The three elements of the traditional production function (land, labor, capital) are the number of hard constraints, can not inexhaustible. In the new economy, knowledge and information to replace the traditional labor and capital, the elements of economic development, the factors of production is the biggest characteristic of sufficiency, in a sense can be said to inexhaustible resources Because the use of knowledge and information has a spillover, repeatability, and in use will not only not reduced, but the use of time because of the continuing and cumulative sum. Resources, this new feature,[link widoczny dla zalogowanych], making the new economy's resources and expanding to a global scale, allocative efficiency also tends to be more effective and reasonable.

Third, the new economy of the new classical economists theory of supply and demand equilibrium analysis of a great challenge. Neo-classical economics, the demand curve slopes downward, upward-sloping supply curve, supply and demand curves intersect to form a market equilibrium. Which also introduced the marginal cost increase, the law of diminishing marginal utility law. But people found in the new economy, network economy will be some of the industry, high fixed costs and low marginal costs to the extreme features, the end seems to negate the law of supply and demand. For example, once for the development of software, chip design, the laying of fiber optic cable cast a high fixed cost, then more or less a consumer a consumer, almost no change in cost, because the low cost replication of information products, or even zero . That is, the production cost of the first information product is very high, but then the marginal cost of production of products can be close to zero, the cost structure from the fundamental denial of the establishment on the basis of marginal cost pricing in the supply curve. Demand curve from the point of view, too. For example, within certain limits, the number of software products using the more consumers to its reputation the better the more he is willing to pay high prices to buy, that is, more demand, and demand the higher bid, which makes the law of diminishing marginal utility failure. Economists call this phenomenon called

Fourth, in the new economy, information economics, information asymmetry hypothesis is also a hit. The new economy has created a lot of information-related industries and practitioners the opportunity to form a specialized in information development, new markets and advisory transactions. Information and knowledge are no longer proprietary and exclusive, the information is as a commodity for development,[link widoczny dla zalogowanych], acquisition, screening and treatment, and by means of network technology, real-time, fast and comprehensive to convey to the user. Access to information is no longer limited by time and space, information asymmetry and incomplete greatly reduced. In short, the powerful

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