欢迎来到天天文库
浏览记录
ID:347005
大小:47.50 KB
页数:11页
时间:2017-07-26
《公允价值会计和当前的金融危机【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、外文文献翻译原文:FairValueAccountingandtheCurrentFinancialCrisisTheaccountingforfinancialassetsandliabilitiesisacomplexissuethathasbeenevolvingtowardtheuseoffairvalue.BoththeFASBandIASBprovidetheoptionofusingfairvalueaccountinginreportingfinancialassetsandliabilitiesandcertainotherite
2、ms.Thismoveisnotwithoutcontroversy.Manyhaveopinedthattheuseoffairvalueaccounting,asopposedtohistoricalcostaccounting,hashelpedcausetheturmoilinthefinancialmarkets.Researchindicatesthattheexclusiveuseofoneaccountingmethodmaynotbeefficientforfinancialinstitutions.Theauthorsbelie
3、vethattheFASBshouldconsideranalternativeaccountingapproachthatwouldincorporatebothsystemsandmitigatetheinefficienciesofusingjustoneaccountingmethod.BlamingFairValueInseekingtoexplainthecurrentfinancialcrisis,thespotlighthasturnedtofairvalueaccountingandfinancialinstitutions.FA
4、SBissuedSFAS157,FairValueMeasurements,inSeptember2006,Shortlythereafter,theproblemsrelatedtothesubprimemortgagemarketbegantosurface.Manybegantoquestionwhetherornotthecurrentdistressinfinancialinstitutionsisrelatedtothenewaccountingstandard.Didthenewstandardexacerbatetheproblem
5、sormerelyilluminatethem?InOctober2008,then-PresidentGeorgeW.BushsignedintolawtheEmergencyEconomicStabilizationActof2008(EESA),theso-calledbailoutbill.Undersection132oftheEESA,CongressgavetheauthoritytosuspendtheuseoffairvalueaccountingunderSFAS157.Section133requirestheSECtocon
6、ductastudyoffairvalueaccountingasstipulatedinSFAS157.NotethatinSection133,CongressevencallsontheSECto“reviewtheprocessusedbytheFinancialAccountingStandardsBoardindevelopingaccountingstandards.”Thisisamuchbroadermandatethanjuststudyingasingleaccountingstandard.Theuseoffairvalue
7、accountinghasbeenexpandinginreportingstandardsundergenerallyacceptedaccountingprinciples(GAAP)inrecentyears.SFAS157definesfairvalueandprovidesmethodsofderivingfairvaluesfordifferenttypesoffinancialassetsandliabilities.Fairvalueaccountingstandsincontrasttohistoricalcostaccounti
8、ng,whichreportsassetsattheoriginalpricepaidand(insomecases)wi
此文档下载收益归作者所有