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1、外文翻译原文ImpairmentofAssetsorImpairmentofFinancialInformation?MaterialSource:http://digitalcommons.bryant.eduAuthor:EmilyGianniniABSTRACTThispaperbeginswithoverviewsoftheStatementsofFinancialAccountingStandards(SFAS)No.144andNo.142astheypertaintoimpairments.Subsequenttotheoverviews,aconceptual
2、evaluationconsidershowtheimpairmentstandardsarerelatedtovariouscomponentsoftheconceptualframework,includingreliability,relevance,andvariouscomponentswithinandrelatedtothesetwocharacteristics.IncorporatedintothediscussionisSFASNo.157andcurrentfairvaluemeasurementsinaccounting.Controversiessu
3、rroundingSFASNo.144andNo.142arediscussedandcompaniesthathaveincurredimpairmentlossesorconductimpairmenttestingonaregularbasisarepresented.Allcomponentsofthispaperaredirectedtoananalysisofthecostsandbenefitsofimpairmenttestingandthepossibleresultofthetrade-off.INTRODUCTIONAsstatedintheFinanc
4、ialAccountingStandardsBoard’s(FASB)StatementofFinancialAccountingConcepts(SFAC)No.1(1978),aprimaryobjectiveoffinancialreportingisto,“provideinformationthatisusefultopresentandpotentialinvestorsandcreditorsandotherusersinmakingrationalinvestment,creditandsimilardecisions…inassessingtheamount
5、s,timing,anduncertaintyofprospectivecashreceipts…”Further,“financialreportingshouldprovideinformationabouttheeconomicresourcesofanenterprise,theclaimstothoseresources…andtheeffectsoftransactions,events,andcircumstancesthatchangeitsresourcesandclaimstothoseresources.”(FASB1978,Page5).Whenlon
6、g-livedassetsareimpaired(thefairvalueoftheassetislessthanbookvalue),theresourcesofacompanyhavechangedinvalue.Thus,itisconsideredimportanttoinformexternalusers,suchascreditorsandinvestors,ofthechangeinfinancialinformationandtoprovidethemwithrelevantinformation.Asaresult,assetwrite-downsmaypr
7、ovideusefulinformationastoanasset’svalue,declineinvalue,andthesignificanceofthedeclineinregardstohowitmayaffectusersofthefinancialinformation.Ifwrite-downsareimportantbecausetheyshowassetsatfairvalue,however,whataboutwrite-ups?Ifassetshaveincreasedinvalu
