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ID:9938628
大小:40.50 KB
页数:7页
时间:2018-05-16
《公允价值会计和当前金融危机【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、本科毕业论文(设计)外文翻译外文出处CPAJournal外文作者JonhM.TrusselandLauraC.Rose原文:FairValueAccountingandtheCurrentFinancialCrisisTheaccountingforfinancialassetsandliabilitiesisacomplexissuethathasbeenevolvingtowardtheuseoffairvalue.BoththeFASBandIASBprovidetheoptionofusingfairvalueacco
2、untinginreportingfinancialassetsandliabilitiesandcertainotheritems.Thismoveisnotwithoutcontroversy.Manyhaveopinedthattheuseoffairvalueaccounting,asopposedtohistoricalcostaccounting,hashelpedcausetheturmoilthefinancialmarkets.Researchindicatesthattheexclusiveuseofone
3、accountingmethodmaynotbeefficientforfinancialinstitutions.TheauthorsbelievethattheFASBshouldconsideranalternativeaccountingapproachthatwouldincorporatebothsystemsandmitigatetheinefficienciesofusingjustoneaccountingmethod.Inseekingtoexplainthecurrentfinancialcrisis,t
4、hespotlighthasturnedtofairvalueaccountingandfinancialinstitutions.FASBissuedSFAS157.FairValueMeasurements,inSeptember2006.Shortlythereafter,theproblemsrelatedtothesubprimemortgagemarketbegantosurface.Manybegantoquestionwhetherornotthecurrentdistressinfinancialinstit
5、utionsisrelatedtothenewaccountingstandard.Didthenewstandardexacerbatetheproblemsormerelyilluminatethem?InOctober2008.ThenPresidentGeorgeW.BushsignedintolawtheEmergencyEconomicStabilizationActof2008(EESA),theso-calledbailoutbill.Undersection132oftheEESA.Congressgavet
6、heSECtheauthoritytosuspendtheuseoffairvalueaccountingunderSFAS157.Section133requirestheSECtoconductastudyofthefairvalueaccountingasstipulatedinSFAS157.SeeExhibit1forexcerptsfromthesetwosectionsoftheEESA.NotethatinSection133,Congress7evencallsontheSECto"reviewtheproc
7、essusedbytheFinancialAccountingStandardsBoardindevelopingaccountingstandards."Thisisamuchbroadermandatethanjuststudyingasingleaccountingstandard.Theuseoffairvalueaccountinghasbeenexpandinginreportingstandardsundergenerallyacceptedaccountingprinciples(GAAP)inrecentye
8、ars.SFAS157definesfairvalueandprovidesmethodsofderivingfairvaluesfordifferenttypesoffinancialassetsandliabilities.Fairvalueaccountingstand
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