公允价值的解释及其利益关系[外文翻译]

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1、外文翻译ExplanationandBenefitsofFairValueAccountingMaterialSource:internationalsecuritiesindustryassociationrules1.DefinitionFairvalueisanestimateofthepriceanentitywouldrealizeifitweretosellanasset,orthepriceitwouldpaytorelievealiability.Familiarwiththesituationofbuyersandsellersinfairtradingconditi

2、onsaredetermined,andthepriceofthepartiesorassociationinfairtradeundertheconditionsofanassetcanbebuyingandsellingprice.Inthefairvaluemeasurement,theassetsandliabilitiesinthefairtransaction,accordingtothecircumstancewithassetexchangebetweenpartiesortheamountofliabilities.Manyfinancialinstruments–s

3、uchassharestradedonanexchange,debtsecurities(U.S.Treasurybonds),andderivativesaremeasuredandreportedatfairvalue.2.UseofFairValueFairvalueisarequiredmeasureformanyfinancialinstruments.Determiningwhetherafinancialinstrumentshouldberecordedatfairvalueinacompany’sfinancialstatementsdependsinpartonwh

4、attypeofinstitutionownstheinstrumentandtheintendeduseofthatinstrument.Forexample,inthecaseofabroker-dealer,ahighpercentageofitsassetstypicallyaretradedandmustthereforebeaccountedforatfairvalue.Otherinstitutionsrecordfinancialinstrumentsatfairvaluedependingonwhattheirintentisforholdingtheinstrume

5、ntorthenatureofthebusinessactivity.IfaninstitutiondecidedtoholdaU.S.Treasurybondtomaturity,forexample,thebondcanbeshownatitsoriginalcost.IftheinstitutionpurchasesanotheridenticalTreasurybondthatitintendstosellinthenearfuture,thatbondwouldbeaccountedforatfairvalue.Inadditiontousingfairvaluemeasur

6、estocomplywithpublicreportingrequirements,companiesmeasuretheirfinancialinstrumentsatfairvalueforanumberofinternalprocesses,including:makinginvestingandtradingdecisions,managingandmeasuringrisks,determininghowmuchcapitaltodevotetovariouslinesofbusiness,andcalculatingcompensation.Theuseoffairvalu

7、emeasurementsisdeemedtoberelevantintheseareas.Adoptionoffairvaluefinancialreportingnotonlywillbeoflittlevaluetoanyconstituent,butitwouldmakefinancialinformationbothmoreopaqueandoflessutilitytofinancialmanagers.Whatmayberequi