George J. Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer
- Published in print:
- 2006
- Published Online:
- February 2006
- ISBN:
- 9780195305838
- eISBN:
- 9780199783342
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305833.003.0002
- Subject:
- Economics and Finance, Financial Economics
Investors, creditors, government officials, and others require information to evaluate companies’ economic position, performance, and prospects. This chapter examines the usefulness of financial ...
More
Investors, creditors, government officials, and others require information to evaluate companies’ economic position, performance, and prospects. This chapter examines the usefulness of financial accounting statements and their limitations in providing this information, particularly measures of economic values. The essential features of the traditional market-transaction, cost-based accounting system, and the benefits and costs of fair-value accounting and of audits and attestations by independent public accountants (IPAs) are described and evaluated.Less
Investors, creditors, government officials, and others require information to evaluate companies’ economic position, performance, and prospects. This chapter examines the usefulness of financial accounting statements and their limitations in providing this information, particularly measures of economic values. The essential features of the traditional market-transaction, cost-based accounting system, and the benefits and costs of fair-value accounting and of audits and attestations by independent public accountants (IPAs) are described and evaluated.
Cheris Shun-ching Chan
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780195394078
- eISBN:
- 9780199951154
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195394078.003.0004
- Subject:
- Sociology, Economic Sociology
Chapters 4 and 5 focus on the dynamics of market exchange. Chapter 4 addresses how sales agents prompt people to buy life insurance. It narrates and explains the strategies, the dramaturgical ...
More
Chapters 4 and 5 focus on the dynamics of market exchange. Chapter 4 addresses how sales agents prompt people to buy life insurance. It narrates and explains the strategies, the dramaturgical performances, and the sales discourses of insurance agents that lead to transactions. It describes how the Chinese insurance agents facilitated their sales by mobilizing the local practices of guanxi (interpersonal relationships) and renqing (interpersonal obligation), and by capitalizing on the norm of reciprocity, the Chinese guanxi hierarchy, and stereotypical gender roles. It further investigates how agents from transnational and domestic insurance firms adopted subtly different sales talks in broaching the need for life insurance. It ends with an analysis of how culture of different forms, together with institutions, affects the adoption and the effectiveness of various sales discourses.Less
Chapters 4 and 5 focus on the dynamics of market exchange. Chapter 4 addresses how sales agents prompt people to buy life insurance. It narrates and explains the strategies, the dramaturgical performances, and the sales discourses of insurance agents that lead to transactions. It describes how the Chinese insurance agents facilitated their sales by mobilizing the local practices of guanxi (interpersonal relationships) and renqing (interpersonal obligation), and by capitalizing on the norm of reciprocity, the Chinese guanxi hierarchy, and stereotypical gender roles. It further investigates how agents from transnational and domestic insurance firms adopted subtly different sales talks in broaching the need for life insurance. It ends with an analysis of how culture of different forms, together with institutions, affects the adoption and the effectiveness of various sales discourses.
