资源描述：
《公允价值会计方面的最新发展【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、外文翻译原文：RecentDevelopmentsinFairValueAccountingSFAS157,FairValueMeasurements,whichbecameeffectiveinJanuary2008,definesfairvalueandprovidescomprehensiveimplementationguidanceforapplyingittoassetsandliabilitiesformeasurementunderGAAP.Sincethen,themeltdownoffinancialmarketsandadeepeningrecessio
2、nhaveledtoareappraisaloffairvalueaccounting.Criticsarguethatthefairvalueaccounting,commonlycalledmark-to-marketaccounting,hasexacerbatedthecrisisbyrequiringsignificantwrite-downofassets,resultinginsharpdecreasesinregulatorycapitalofbanksandotherfinancialinstitutions(seeWilliamIsaac,“HowtoSa
3、vetheFinancialSystem,”WallStreetJournal,September19,2008;JohnBerlau,“MaybetheBanksAreJustCountingWrong,”WallStreetJournal,September20,2008;GaryGorton,“ThePanicof2007,”YaleICFWorkingPaperNo.08-24,ssrn.com/abstract=1255362).ThecrisisledtoswiftandunprecedentedactionsfromtheTreasuryDepartment,t
4、heFederalReserve,andCongress,includingthe$700billionTroubledAssetsReliefProgram(TARP)tohelpfinancialinstitutions.InOctober2008,CongresspassedtheEmergencyEconomicStabilizationAct,authorizingtheSECtosuspendSFAS157forsomeissuersorcertaintransactionsinordertoprotectinvestorsandthepublicinterest
5、.TheactalsodirectedtheSECtostudythestandard’simpactonfinancialinstitutions’balancesheetsandonbankfailures,aswellastosuggestalternativeaccountingstandards.FASBsoonissuedthreeStaffPositions(FSP)—FSPFAS157-4,“DeterminingFairValueWhentheVolumeandLevelofActivityfortheAssetorLiabilityHaveSignific
6、antlyDecreasedandIdentifyingTransactionsThatAreNotOrderly”;FSPFAS107-1andAPB28-1,“InterimDisclosuresAboutFairValueofFinancialInstruments”;andFSPFAS115-2and124-2,“RecognitionandPresentationofOther-Than-TemporaryImpairments”—aspartofitsresponsetotheconcernsrelatedtomeasurementandrecognitionof
7、fairvalueininactivemarkets.TheauthorsdiscusshowtoimplementtheseFSPs,provideexamplesanddecisionflowchartstoaidtheprocess,anddiscusstheirimplications.ForbackgroundinformationonFSPFAS157-4,itslinkagewithSFAS157,andthemarketandpreparers’reactionstoit,see“Fai
