Financial Reporting.
作者基于在美国财务会计准则委员会的工作经验，讨论了会计准则制定中因变革引发的争议，特别是反对者最常提出的波动性问题，并主张会计应如实反映经济事件而非掩盖波动。
Abstract The article presents the author's opinion on financial accounting standard-setting. New accounting standards inevitably require at least some enterprises to change what they are doing--usually to do what others are doing in the same circumstances. Often the criticism and resistance to change are manifested in predictions of dire economic consequences if certain actions are taken. The perceived consequence that opponents seem to object to most strenuously is the volatility often inherent in recognizing the effects of economic events when those events occur. In at least half of the major projects undertaken during my tenure with the U.S. Financial Accounting Standards Board, concerns about volatility dominated the reactions of those who opposed the board's positions. If it is true that volatility affects market prices of securities and the related costs of capital, it is especially important that, where it actually exists, volatility be revealed rather than concealed by accounting practices. To me, the least effective argument one can make in opposing a proposed standard is that its implementation might cause managers or investors to make different decisions. Whatever management's decision may be, I hope all would agree that the accounting should reflect that management decision, not obscure it. Change in financial reporting can be accommodated most easily when standards are established before a number of alternative accounting methods have become imbedded in practice.