ACCRUAL ACCOUNTING AND CASH ACCOUNTING: RELATIVE MERITS OF DERIVED ACCOUNTING INDICATOR NUMBERS
比较了基于权责发生制的利润表和资产负债表指标与基于现金流的指标，发现资产负债表数字波动更小、持续性更强，这归因于收入平滑和市场选择性反应，对会计准则制定有启示。
The purpose of this study was to evaluate the relative merits of performance indicators derived from either an income statement and a balance sheet both based on accrual accounting, or cash flow accounting. The balance sheet number showed lower variability and a higher persistency than the cash flow accounting and the income statement numbers. This phenomenon was attributed to an income smoothing distortion and a selective market response hypothesis. One implication for the standard setting bodies may be to favour an asset/liability view of earnings rather than either a revenue/expense or cash flow view.