資本化的研發(fā)費(fèi)用和盈余管理來自意大利上市公司的證據(jù)【外文翻譯】

1、0外文翻譯原文：CapitalizationofRthatresearchexpensesshallbeexpensedintheincomestatementwhentheyareincurred.ConcerningdevelopmentcostsIASNo.38statesatparagraph57thatanintangibleassetarisingfromdevelopment(fromthedevelopmentphase

2、ofaninternalproject)shallberecognisedifonlyifanentitycandemonstrateallofthefollowing:(a)thetechnicalfeasibilityofcompletingtheintangibleassetsothatitwillbeavailablefusesale(b)itsintentiontocompletetheintangibleassetusese

3、llit(c)itsabilitytouseselltheintangibleasset(d)howtheintangibleassetwillgenerateprobablefutureeconomicbenefits(e)theavailabilityofadequatetechnicalfinancialotherresourcestocompletethedevelopmenttouseselltheintangibleasse

4、t(f)itsabilitytomeasurereliablytheexpenditureattributabletotheintangibleassetduringitsdevelopment.AlthoughIAS38allowscompaniestocapitalizedevelopmentcostsduetotheinherentsubjectivityofthevalidationprocessmanagementcanexe

5、rcisediscretionindecidingwhethertheconditionsofIAS38havebeensatisfied.InessenceIAS38givesmanagementconsiderableflexibilityregardingthetreatmentofdevelopmentcosts.USGAAPtakesastricterapproachtotheissuewhereSFASNo.2:Accoun

6、tingfResearchDevelopmentCosts(FASB1974)requiresthatallRMeetal.2000).ButthereisstillapaucityofresearchthatexplesthemotivesbehindtheaccountingtreatmentofR&Dcostswithinasettingwhereflexibilityisallowed.Testingwhethercompani

7、esengageinearningsmanagementthroughR&Dcostaccountingcansignificantlycontributetothedebatearoundthebesttreatmentfsuchcosts.ThisdebatehasrecentlybeenraisedwithintheconvergenceprojectbyUSGAAPIASIFRS.IllustratingthatR&Dcostc

8、apitalizationismotivatedbyincentivestomanipulateearningswouldsupptthecurrentUSGAAPpositionwhichdoesnotallowthecapitalizationofsuchcosts.OnthecontraryshowingthatcompaniesdonotuseR&Dcostaccountingfearningsmanagementpurpose

9、swouldsuppttheapproachnowstatedbyIASIFRSinwhichcapitalizationisallowedundercertainconditions.ThisstudycontributestothisdebatebyprovidingempiricalevidenceonthemotivationsfR&Dcostcapitalization.Wehypothesizethatthedecision

10、tocapitalizeR&Dexpendituresisrelatedtotwoprimarymotivations:incomesmoothingdebtcontracting.WetestourhypothesesusingasampleoffirmslistedontheMilanStockExchange.MultivariateresultsindicatethatfirmsusecapitalizationofR&Dcos

11、tstosmoothearningswhilethereisnosupptfthedebtcovenanthypothesis.Theseresultsarerobustwithinavarietyoffirmacteristicssuchasfirmsizeriskopptunitiesfgrowthprofitabilitygovernanceacteristicsindustrialmembershiptimecontrol.Th

12、epaperproceedsasfollows.Section2introducesaccountinginItalytheinstitutionalbackgroundrelatingtoR&Daccounting.Section3discussesthepreviousliterature.Section4presentsthehypothesesisfollowedbytheresearchmethodsinSection5.Se

13、ction6presentstheresultsSection7concludesthestudy.2.R&DACCOUNTINGINITALYItalianaccountingregulationhasalwaysallowedfsomeflexibilityinthecapitalizationofR&Dcosts.ThisallowanceissimilartothatofIAS.Accountingfintangiblesinc