公允价值会计——不断变化的环境分析【外文翻译】

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1、外文翻译原文Fair-ValueAccounting—AnalyzingtheChangingEnvironmentMaterialSource:TheCPAJouranlAuthor:ByRebeccaToppeShortridge,AmandaSchroeder,andErinWagonerAPRIL2006-FASB’sexposuredraft,FairValueMeasurement,hasbroughtrenewedattentiontothedebatebetweenhistorical-costmeasurementandfair-valuemeas

2、urementinfinancialstatements.Perhapsthestrongestargumentforamovetofair-valueaccountingisthathistorical-costfinancialstatementsdonotprovideinformationthatisrelevanttoinvestors.ThefactthatthemarketvalueofpubliclytradedfirmsontheNewYorkStockExchangeisfivetimestheirassetvaluesservestohighl

3、ightthisdeficiency.Theprimarydriverofthisdisparitywasclearlyillustratedbythen–FederalReserveChairmanAlanGreenspan,asquotedinCrackingtheValueCode:HowSuccessfulBusinessesAreCreatingWealthintheNewEconomy(RichardE.S.Bolton,BarryD.Libert,andSteveM.Samek;HarperCollins,2000).Greenspansaid:“[V

4、]irtuallyunimaginableahalf-centuryagowastheextenttowhichconceptsandideaswouldsubstituteforphysicalresourcesandhumanbrawnintheproductionofgoodsandservices.”Thefair-valueexposuredraftwouldestablishaframeworkformeasuringassetsandliabilitiesatfairvalue.Critics,however,haveexpressedconcerns

5、withtheproposal.RecentFASBProjectsFASBhasissuednumerousstandardsinrecentyearstorequiretheuseoforprovideguidanceforcalculatingfair-valuemeasurementsinfinancialaccounting.Thischangefrompriorpracticesignifiestomanyadeliberatemovementawayfromhistorical-costfinancialstatementsandtowardfairm

6、arketvaluestatements.StatementofFinancialAccountingConcepts7.AsFASBincreasestheitemsreportedusingfairvalue,determininghowtoactuallymeasurevalueiscritical.Forexample,howshouldacompanyestablishthevalueofacustomerlistacquiredina9businesscombination?StatementofFinancialAccountingConcepts(S

7、FAC)7,UsingCashFlowInformationandPresentValueinAccounting,providesaframeworkforusingthepresentvalueoffuturecashflowstoestablishfairvalue.AccordingtoSFAC7,“theonlyobjectiveofpresentvalue,whenusedinaccountingmeasurements…istoestimatefairvalue.Stateddifferently,presentvalueshouldattempt