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Durchbrechungen des Kongruenzprinzips und Residualgewinne Broken Link Between Accounting and Finance?


  • Krotter, Simon


Ziel des vorliegenden Beitrags ist es, die Auswirkungen von Kongruenzdurchbrechungen auf die Bewertung, Vorteilhaftigkeitsprüfung und Performance-Messung mit buchwertbasierten Residualgewinnen zu bestimmen. Wir wählen dazu folgendes Vorgehen: Kapitel II stellt die Wirkungsweise des Kongruenzprinzips zur Erzielung von Barwertkompatibilität buchwertbasierter Residualgewinne vor. Kapitel III definiert Kongruenzdurchbrechungen bzw. dirty surplus accounting und beschreibt deren Auftreten in den gängigen Rechnungslegungssystemen. Kapitel IV stellt den Kern der Untersuchung dar und zeigt zunächst anhand von Fallbeispielen die aus Kongruenzdurchbrechungen resultierenden Verzerrungen. Diese werden schließlich formalisiert und Ansätze zu deren Korrektur vorgeschlagen. Kapitel V geht der Frage nach, ob dirty surplus accounting den "link between accounting and finance" brüchig werden läßt. Wir werden sehen, daß Kongruenzdurchbrechungen für die empirische Anwendung von Residualgewinnen weit weniger Gefahren bergen, als man zunächst anzunehmen geneigt ist. Kapitel VI faßt zusammen. It is the goal of the paper to determine the impacts of dirty surplus accounting on valuation, net present value calculation, and performance measurement with residual incomes based on book values. The proceeding is as follows: Chapter II introduces the mechanics of the clean surplus relation to assure valuations with residual incomes that are equivalent to those with cash flows. Chapter III defines violations of the clean surplus principle, or dirty surplus accounting respectively, and describes its occurrence in various accounting systems. Chapter IV contains the quintessence of the analysis and identifies on the basis of examples the distortions resulting from dirty surplus accounting. Chapter V goes into the matter if dirty surplus accounting breaks the link between accounting and finance. We will see that violations of the clean surplus relation hold far less pitfalls for empirical applications than previously assumed. Chapter VI concludes.

Suggested Citation

  • Krotter, Simon, 2006. "Durchbrechungen des Kongruenzprinzips und Residualgewinne Broken Link Between Accounting and Finance?," University of Regensburg Working Papers in Business, Economics and Management Information Systems 411, University of Regensburg, Department of Economics.
  • Handle: RePEc:bay:rdwiwi:638

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    References listed on IDEAS

    1. Holthausen, Robert W. & Watts, Ross L., 2001. "The relevance of the value-relevance literature for financial accounting standard setting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 3-75, September.
    2. Dhaliwal, Dan & Subramanyam, K. R. & Trezevant, Robert, 1999. "Is comprehensive income superior to net income as a measure of firm performance?1," Journal of Accounting and Economics, Elsevier, vol. 26(1-3), pages 43-67, January.
    3. Martin Wallmeier, 2005. "Analysts’ Earnings Forecasts for DAX100 Firms During the Stock Market Boom of the 1990s," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 19(2), pages 131-151, August.
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    More about this item


    Unternehmensbewertung ; Economic Value Added ; Controlling ; Projektcontrolling ; Investitionsplanung / Controlling ; Investitionsrechnung ; Rechnungslegung; Residualgewinn ; Kongruenzprinzip ; Lücke-Theorem ; Performance-Messung; Residual Income ; clean surplus principle ; valuation ; performance measurement;

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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