完全公允价值会计时代的到来【外文翻译】

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1、本科毕业论文（设计）外文翻译外文出处BankAsset/LiabilityManagement,2009(10):7-8外文作者OrlandoHanselman原文：FullFairValueAccounting:ItsTimeHasComeExecutiveSummary:Itistimetoevaluatefairvalueaccountingobjectivelybyreturningtotheconceptualrootsofourmodernaccountingframeworkanddebunkingcertainfalsedoctri

2、nes.Analyzingtheconceptualintegrityoffairvaluecomparedtohistoriccostaccountingdemonstratestheclearsuperiorityoffairvaluemeasurementandreporting.Truecapitaladequacycanonlybeascertainedonarisk-adjustedbasis.Thestartingpointforsuchneededandsoundrisk-adjustmentisreflectingchangesi

3、nmarketvaluesforallassetsandliabilitiestodeterminetheeconomicvalueofequity.Fullfairvalueaccountingwithappropriatelydetaileddisclosuresshouldberequirednowforallreportingentitiesandforallassetsandliabilities.Sucharequirementalsowouldresultinequitystatedonafullfairvaluebasis.Hist

4、oricalcostshouldbeproperlyrelegatedtonomorethanfootnotedisclosure.Fullfairvalueaccountingsharpensinvestorandmanagementfocusonlong-term,risk-adjustedorganizationalperformanceandtheoptimizationofeconomicvalueofequity.Fullfairvalueaccounting…itstimehascome!Fairvalueaccounting,onc

5、easubjectrelegatedfordiscussionbythegreeneyeshadeandthepocketprotectorcrowd,hasmovedfromaccountingcubiclestoMainStreetandthepoliticalpowercorridorsofAmerica.Muchhasrecentlybeenwrittenaboutit.Muchconversationhasbeenheld.Theissuehastakenonpartisantoneswithbothstaunchproponentsan

6、ddetermined,wellfundedopponentsraisinguptheirvoices.Tosortthroughthisrhetoricitistimetolookatfairvalueaccountingobjectivelybyreturningtotheconceptualrootsofourmodernaccountingframeworkanddebunkingcertainfalsedoctrinesespousedbyfairvalueaccountingcritics.Asthisanalysiswillsubst

7、antiate,nowisthetimeforfullfairvalueaccounting.Fairvalueaccountingisnotanewconceptorrecentphenomena:“Assetvaluations(forfinancialinstitutions)wereatfairmarketvalue.Itwasnotuntil1938thattheFederalReserveforcedtheotherregulatorstoaccedetohistoriccostaccountingforbanks’assets.The

8、1938…accountingchangewasmadetoencouragenewlendingandtoenablep