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1、本科毕业论文外文翻译外文题目：FairValueAccountingandtheFinancialCrisis：MessengerorContributor?出处：SerieScientifiqueScientificSeries作者：MichelMagnan原文：FairValueAccountingandtheFinancialCrisis:MessengerorContributor?Didfairvalueaccountingplayaroleinthecurrentfinancialcrisis?Thisappendixexplorestheissue.Fairvalueac
2、countingimpliesthatassetsandliabilitiesgetmeasuredandreflectedonafirm`sfinancialstatementsattheirmarketvalue,orclosesubstitutes.Extensiveacademicresearchdoneoverthepast20yearsshowsthatfinancialstatementsthatreflectthemarketvaluesofassetsorliabilitiesprovideinformationthatisrelevanttoinvestors.In
3、othercontext,fairvalueaccountingisjustamessengercarryingbadnews.Incontrast,thereisalsoanotherresearchstreamwhichisquitecriticaloftheperceivedmeritsoffairvalueaccounting,andwhichworriesabouthowitundermineswhatconstitutesthecoreoffinancialreporting.Morespecifically,itisarguedthatfairvalueaccountin
4、gisdifficulttoverify,maybebasedonunreliableassumptionsorhypothesesandprovidesmanagementwithtoomuchdiscretionintothepreparationoffinancialstatements.Hence,accordingtothisview,fairvalueaccountingisnotnecessarilyaneutralorunbiasedmessenger.Moreover,fairvalueaccountingcreatesacirculardynamicinfinanc
5、ialreporting,withmarketsprovidingtheinputforthemeasurementofmanyassets,thusaffectingreportedearningswhicharethenusedbyanalystsandinvestorstoassessafirm’smarketvalue.Ifmarketsbecomevolatile,ashasbeenthecaseinrecentmonths,reportedearningsalsobecomemorevolatile,thusfeedinginvestorsapprehensions.The
6、refore,sincefairvalueaccountingisassociatedwithmorevolatileandlessconservativefinancialstatementsand,itmayhaveallowedmanagerstodelaythedayofrecognitionaswellasdistortedinvestorsandregulators’perceptionsoffinancialperformanceandstabilityattheendofthefinancialbubble.However,oncetheeconomicpendulum
7、swungback,fairvalueaccountingmayhavemagnifiedtheirviewsastotheseverityofthecurrentfinancialcrisis,henceacceleratingsomenegativetrends.ThepurposeoftheAppendixistoprovideadditionalinsightsintotheroleplayedbyfairvalueaccounting
