The Relevance of Accounting Information:Some Analyses from the Perspective of Accounting Standards

The paper holds the v iew that the quality of accounting standards is a necessary rather than a sufficient condition for the quality of accounting information(including relevancy),and stresses the importance of interpreting the accounting information from the angle of formulating the accounting standards.The paper elaborates on the following points in accounting:(1) That the formulation of the accounting standards is characterized by a process of public choice determines and gives rise to the stringent dilemma of the accounting relevance;(2) The formulation of the accounting standards can not guarantee the availability of completely relevant information required by the interest persons;(3) The accounting standards and general-purpose financial reporting model could result in improper information disclosure costs transferring;(4) The paper,by introducing the concept of sufficient information content,looks at the reasons and behavior factors behind the phenomenon that while there is an increase in information disclosure the information users feel relevance is on the decline;(5) The paper puts forward some policy suggestions.