In recent years, there has been increasingly debate about the impact of quality of accounting information on cost of capital or expected return of stock. The focus of these discussions is the quality of accruals. In particular, two recent papers by Francis et al (2004, 2005) were impressive articles in this Field. The two papers were shown the quality of accruals have an inverse relationship between the costs of capital, it means low quality of accruals lead to cost of capital or expected return of stock. However, Core et al (2008) showed that accruals quality developed by Francis and his colleagues were not able to explain the volatility of stocks. Consequently, accrual quality as characteristics of accounting information can help predict future stock returns. Other similar studies, in this research relation between accrual quality and risk premium companies were investigated by data relating to 73 companies during 2009 and 2010. The results of the statistical analysis and hypotheses showed that the relationship did not exist between the quality of accruals and equity risk premium and there is no significant accruals quality and equity risk premium.

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