1、中文 3700 字， 1986 单词， 11300 英文字符 出处 : Alfred Wagenhofer,2003 “Economic Consequences of Internet Financial Reporting” . Schmalenbach Business Review,vol.55,no.4,October.pp262-279. 本科毕业外文文献翻译及原文 文献题目 : Economic consequences of internet financial reporting 文献作者： Alfred Wagenhofer 文献翻译：第 1 页至第 4 页 外文文献 :第
2、 5 页至第 10 页 学生姓名： 学 号： 院（部） ： 管理学院 专 业： 会计学 班 级： 指导教师： 周江生 2014 年 6 月 8 日 第 1 页 外文文献 Economic consequences of internet financial reporting Alfred Wagenhofer The last fifteen years or so have seen enormous development of the Internet and an increasing acceptance by its users. Major characteristics of
3、 the Internet are that information can be accessed（ almost） anytime and everywhere, and generally at a low cost, the information is up-to-date； there are few limits on data availability； information can include dynamic presentations and multimedia； and there is the possibility of interactive informa
4、tion demand and supply. These developments have a possibility of interactive information demand and supply. These developments have a significant effect on the dissemination of information and on the trading of goods, including shares, and thus on the organizational structures of how these activitie
5、s are performed. They also open up new and astounding opportunities for financial disclosure that affect all interested parties, notably corporations, investors, auditors, and information intermediaries. Various studies show that most listed corporations now disclose financial information on their w
6、ebsites, and that the level of disclosure has increased over the last years. The Internet has probably become the primary source for users searching for corporate financial reports. Companies invest substantial resources in the development of their websites, and come up with innovative ways to prese
7、nt financial information. While the acceptance of Internet disclosure has increased, most of the information provided is still substantially the same that is available from other sources, too. There are many opportunities for this practice to change. Empirical studies suggest a decline in the value
8、of traditional financial reports. (Lev, Zarowin 1999) Reducing boundaries for generating and disseminating information by Internet technologies may provide theopportunity to change the traditional financial reporting model. For instance, Elliott concludes that “Information technology (IT) is changin
9、g 第 2 页 everything,” (e.g. Elliot 1999) and Trites sees a shift from the Pacioli paradigm to the Google paradigm (Trites 2004).With the advent of Extensible Business Reporting Language (XBRL) as a standardized data description format for financial reporting, there are many studies that describe this
10、 technology and promote the benefits to all preparers and users of financial reports. The effects of new information technologies on financial disclosure have been an issue for standard setters and accountants. (FASB 2000； Lymer et al. 1999； Trites 1999； ICAEW 1998) These studies explore potential f
11、uture developments not only for disclosure, but also for radical changes of the current financial reporting model. For example, they include forecasts like this:” The annual report of the 21st century will not be annual and it will not be a report: it will be an up to date, informative, permanent di
12、alogue.” However, the ballyhooed future directions remain vague. Although visionary thoughts on new opportunities no one has dreamed of before provide an important impetus for financial reporting developments, it is also clear that technology alone does not drive the demand and supply of financial i
13、nformation. It is the preparers and users whose supply and use of the information defines the type and amount of financial information that is being produced and digested. Standard setters and regulators follow up to see if there is a demand for standardization based on changing demand and supply. T
14、he Internet is independent of hardware but, nevertheless, requires a common format of the type of data they process. Standardized information is needed to fully exploit the opportunities of the Internet. The easy availability of information may induce users to request more and more information, incl
15、uding assumptions, effects of alternative accounting methods, multidimensional properties of information and all sorts of non-financial information. Information about intangibles and value drivers are natural candidates. This increased appetite for information raises the question of how much additio
16、nal information firms are prepared to disclose. Besides the direct costs of auditing or reviewing such information, firms may be harmed by adverse actions of competitors and other parties that use this information. Moreover, additional disclosure raises legal concerns. In a litigious environment the legal costs can be substantial. If firms are to be motivated to
