完全公允价值会计：它的时代已经到来【外文翻译】

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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