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1、外文文献翻译原文：FairValueAccountingforFinancialInstruments：SomeImplicationsforBankRegulationI.IntroductionAccountingstandardssettersinmanyjurisdictionsaroundtheworld,includingtheUnitedStates,theUnitedKingdom,Australia,andtheEuropeanUnion,haveissuedstandardsrequiringrecognitionofbalancesheeta
2、mountsatfairvalue,andchangesintheirfairvaluesinincome.Forexample,intheUnitedStates,theFinancialAccountingStandardsBoardrequiresrecognitionofsomeinvestmentsecuritiesandderivativesatfairvalue.Inaddition,astheiraccountingruleshaveevolved,manyotherbalancesheetamountshavebeenmadesubjecttop
3、artialapplicationoffairvaluerulesthatdependonvariousadhoccircumstances,includingimpairment(eggoodwillandloans)andwhetheraderivativeisusedtohedgechangesinfairvalue(eginventories,loans,andfixedleasepayments).TheFinancialAccountingStandardsBoardandtheInternationalAccountingStandardsBoard
4、(hereafterFASBandIASB)arejointlyworkingonprojectsexaminingthefeasibilityofmandatingrecognitionofessentiallyallfinancialassetsandliabilitiesatfairvalueinthefinancialstatements.IntheUnitedStates,fairvaluerecognitionoffinancialassetsandliabilitiesappearstoenjoythesupporttheSecuritiesandE
5、xchangeCommission(hereafterSEC).InarecentreportpreparedforaCongressionalcommittee(SEC,2005)，theOfficeoftheChiefAccountantoftheSECstatestwoprimarybenefitsofrequiringfairvalueaccountingforfinancialinstruments.First,itwouldmitigatetheuseofaccounting-motivatedtransactionstructuresdesigned
6、toexploitopportunitiesforearningsmanagementcreatedbythecurrent“mixed-attribute”-parthistoricalcost,partfairvalues-accountingmodel.Forexample,itwouldeliminatetheincentivetouseassetsecuritizationasameanstorecognisegainsonsaleofreceivablesorloans.Second，fairvalueaccountingforallfinancial
7、instrumentswouldreducethecomplexityoffinancialreportingarisingfromthemixedattributedmodel.Forexample,withallfinancialinstrumentsmeasuredatfairvalue,thehedgeaccountingmodelemployedbytheFASB’sderivativesstandardwouldallbutbeeliminated,makingitunnecessaryforinvestorstostudythechoicesmade
8、byman
