Theoretical and Empirical Research on Recognition and Measurement of Liabilities

• Project/Area Number: 17K04051
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Accounting
• Research Institution: Kyoto University
• Principal Investigator: KUSANO Masaki 京都大学, 経済学研究科, 准教授 (50351440)
• Project Period (FY): 2017-04-01 – 2020-03-31
• Project Status: Completed (Fiscal Year 2019)
• Budget Amount: ¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000); Fiscal Year 2019: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2018: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2017: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
• Keywords: 負債 / 認識対開示 / ストック重視の会計 / リース取引 / 退職給付 / 負債コスト / 株式リスク / 監査コスト / 会計学 / 年金 / 監査報酬 / 会計情報の有用性 / 経営者の裁量

Outline of Final Research Achievements

The purpose of this study is to investigate whether and how the balance sheet approach improves the usefulness of accounting information by focusing on recognition and measurement of liabilities. The main results of this study are as follows. (1) Recognizing leases on lessees' balance sheets provides useful accounting information to capital market participants. (2) Investors' information processing has significant effects on their differential treatments between recognition and disclosure of finance leases. (3) Auditors scrutinize recognized pension liabilities more closely than disclosed pension liabilities, thereby increasing the reliability of accounting information. These results suggest that investors' information processing and reliability of accounting information substantially affect the usefulness of accounting information.

Academic Significance and Societal Importance of the Research Achievements

会計基準設定機関は，投資家の意思決定に有用な会計情報を提供するために，注記での開示よりも財務諸表本体での認識を優先し，会計基準の作成を進めている。しかしながら，注記と財務諸表本体を比較したときに，なぜ注記よりも財務諸表本体の方が有用な会計情報を提供しうるのかについて，研究成果が十分に蓄積されていない。本研究は，負債の認識拡大が会計情報の有用性を改善しうることを示し，どのような要因が会計情報の有用性に大きな影響を及ぼすのかを明らかにしている。これらの証拠を示したことに本研究の学術的意義がある。また，本研究の成果は，日本の会計制度に対して重要な示唆を提供するため，社会的意義も大いに認められる。

Research Products

• [Journal Article] Does Recognition versus Disclosure Affect Risk Relevance? Evidence from Finance Leases in Japan (2020)
  • Author(s): Masaki Kusano
  • Journal Title: Journal of International Accounting, Auditing and Taxation Volume: － Pages: 100303-100303
  • DOI: 10.1016/j.intaccaudtax.2020.100303
  • Peer Reviewed
• [Journal Article] 会計基準のグローバル化の経済的帰結―リース会計基準の改訂を中心として― (2019)
  • Author(s): 草野真樹
  • Journal Title: 国際会計研究学会年報 Volume: 2018年度第1・2合併号 Pages: 19-33
  • Open Access
• [Journal Article] オペレーティング・リース取引のオンバランス化の負債コストへの影響 (2019)
  • Author(s): 草野真樹
  • Journal Title: 企業会計 Volume: 第71巻第10号 Pages: 97-106
• [Journal Article] Recognition versus disclosure of finance leases: Evidence from Japan (2019)
  • Author(s): Masaki Kusano
  • Journal Title: Journal of Business Finance & Accounting Volume: 46 Issue: 1-2 Pages: 159-182
  • DOI: 10.1111/jbfa.12366
  • Peer Reviewed
• [Journal Article] Effects of recognition versus disclosure of finance leases on audit fees and costs: Evidence from Japan (2019)
  • Author(s): Masaki Kusano, Yoshihiro Sakuma
  • Journal Title: Journal of Contemporary Accounting & Economics Volume: 15 Issue: 1 Pages: 53-68
  • DOI: 10.1016/j.jcae.2018.12.004
  • Peer Reviewed
• [Journal Article] ファイナンス・リース取引の認識対開示：監査報酬との関連性分析 (2018)
  • Author(s): 草野真樹・佐久間義浩
  • Journal Title: 企業会計 Volume: 70(2) Pages: 112-121
  • NAID: 40021419903
• [Presentation] IFRS適用をめぐる実証研究の棚卸しと展望 (2019)
  • Author(s): 草野真樹
  • Organizer: 国際会計研究学会第36回研究大会
  • Invited
• [Presentation] Recognition versus Disclosure and Audit Fees and Costs: Evidence from Pension Accounting in Japan (2019)
  • Author(s): Masaki Kusano and Yoshihiro Sakuma
  • Organizer: 2019 Taiwan Accounting Association Annual Conference
  • Int'l Joint Research
• [Presentation] Effects of recognition versus disclosure of finance leases on audit fees and costs: Evidence from Japan (2018)
  • Author(s): Masaki Kusano, Yoshihiro Sakuma
  • Organizer: 2018 JCAE Mid-Year Symposium
  • Int'l Joint Research
• [Presentation] 会計基準のグローバル化とコンフリクト―リース会計基準の改訂を中心として― (2018)
  • Author(s): 草野 真樹
  • Organizer: 国際会計研究学会第35回研究大会
  • Invited
• [Presentation] Does Recognition versus Disclosure Affect Risk Relevance? Evidence from Finance Leases in Japan (2018)
  • Author(s): Masaki Kusano
  • Organizer: 2017 AAA (American Accounting Association) Annual Meeting
  • Int'l Joint Research