公允价值会计和当前的金融危机【文献翻译】

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1、外文翻译原文FairValueAccountingandtheCurrentFinancialCrisisMaterialSource:http://findarticles.com/p/articles/mi_qa5346/is_200906/ai_n32128712/Author:Trussel,JohnM,Rose,LauraCInseekingtoexplainthecurrentfinancialcrisis,thespotlighthasturnedtofairvalueaccountingandfinanci

2、alinstitutions.FASBissuedSFAS157,FairValueMeasurements,inSeptember2006.Shortlythereafter,theproblemsrelatedtothesubprimemortgagemarketbegantosurface.Manybegantoquestionwhetherornotthecurrentdistressinfinancialinstitutionsisrelatedtothenewaccountingstandard.Theuseo

3、ffairvalueaccountinghasbeenexpandinginreportingstandardsundergenerallyacceptedaccountingprinciples(GAAP)inrecentyears.SFAS157definesfairvalueandprovidesmethodsofderivingfairvaluesfordifferenttypesoffinancialassetsandliabilities.Fairvalueaccountingstandsincontrastt

4、ohistoricalcostaccounting,whichreportsassetsattheoriginalpricepaidand(insomecases)withcostsallocatedovertimeused.Thecurrentcontroversyquestionswhetherfinancialassetsandliabilitiesoffinancialinstitutionsshouldbereportedonthebalancesheetatfairvalueor,astheyhadtradit

5、ionallybeenreported,athistoricalcost.Anotheroptiontoconsiderisanapproachthatincorporatesbothfairvalueandhistoricalcostaccounting.SFAS157definesfairvalue,establishesaframeworkformeasuringfairvalue,andexpandsdisclosuresaboutfairvaluemeasurements.SFAS157definesfairva

6、lueas"thepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionbetweenmarketparticipantsatthemeasurementdate"(paragraph5).Applicationoffairvaluemayalsoaffectacompany'sincomestatement,becauseunrealizedgainsandlossesmayresultfromtheadj

7、ustmentstofairvalue.SFAS157wasdesignedtoestablishasingledefinitionoffairvaluetobeusedwhererequiredinotherFASBstandards,resultinginincreasedconsistencyandcomparabilityinfairvaluemeasurements.SFAS157alsoattemptstoimprovethequalityofinformation7infinancialstatementsb

8、yexpandingthedisclosuresaboutfairvaluemeasurements.Itisimportanttonotethatthenewstandarddoesnotrequireanynewclassesofassetstobemeasuredatfairvalue.Prior