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ID:346948
大小:75.50 KB
页数:14页
时间:2017-07-26
《完全公允价值会计:它的时代已经到来【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、外文文献翻译原文:FullFairValueAccounting:ItsTimeHasComeFairvalueaccountingisnotanewconceptorrecentphenomena:Earnestexplorationoffairvalueaccountingbeganintheearly1980's,longbeforeitbecameaforcerecognizedbyMainStreetandWashington.Elementsoffairvalueaccountingslo
2、wlyenteredintogenerallyacceptedaccountingprinciples("GAAP")aspromulgatedbytheU.S.FinancialAccountingStandardsBoard("FASB").Lower-of-costormarketaccountingbecameanacceptedpractice.Writedowntomarketofpermanentlyimpairedassetsemerged.Investmentaccountingba
3、seduponmanagement'sintentwasinstitutedwiththreeseparateportfoliosandtreatments:held-to-maturity;heldforsale;trading.StatementofFinancialAccountingStandards("SFAS")#159nowallowsaone-timemanagementelectionthatisirrevocablewhereinthereportingentitycanchoos
4、etousefairvalueaccountingforselectedfinancialassetsorliabilities.Theresultofthispiecemealapproachhasbeenapatch-workquiltoffinancialstatementuserconfusionandreportinginconsistencydepravedofconceptualintegrityandheavilydeterminedbymanagementintentorelecti
5、on.Historicalcostaccounting,whereanassetisvaluedatthetimeofacquisitionbaseduponconsiderationtendered,isthoughttohavebeguninthedaysoftheancientRomans.Increasinglythislongstandingaccountingmethodisviewedasirrelevantandmisleading.Depreciationrules,usedtosu
6、bsequentlyreduceassetvaluesbyoneofmanystandardizedandcapriciousmethodstoapproximatetheexpirationofusefulness,areunderstoodtobecrudeestimationswhichprovideonlyminorconceptualinsightrelatedtotheunderlyingandchangingvalueofanassetwithpassingtime.A1983audit
7、clientpointedoutthisillogictomebyvaluingtheirfixedassetsusingaself-determinedandclearlynon-GAAPaccountingmethod.Thisclientproperlyrecordedthefixedassetattimeofacquisition.Thereafterhethendepreciatedtheassetusinganacceptablemethodologyuntilthenetassetval
8、uereachedafully13depreciatedstateofzero.Atthatpointhepersonallyassessedtheasset'sremainingutilityandupondeterminingitwasnotwornoutandindeedwasstillquiteuseful,hemarkedtheassetbackuptoanestimatedcurrentmarketvalue.Afterthewrite-up
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