实用资产减值会计【外文翻译】

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1、外文翻译原文：PracticalassetsdevaluationaccountingThelast12monthshavebeenmarkedbyunprecedentedvolatilityinglobalmarketsandsignsofeconomicdownturn.Thesemarketconditionswillcausemanycompaniestorevisittheirbusinessplansandrevisefinancialforecasts.Asaresultofthesechangesmanagementmay

2、experiencesignificantimpairmentchargesinthecomingmonths.Thebasicprincipleisthatanassetmaynotbecarriedinthebalancesheetatmorethanitsrecoverableamount.Anasset’srecoverableamountrepresentsitsgreatestvaluetothebusinessintermsofthecashflowsthatitcangenerate.Ihatisthehigherof:Th

3、eamountforwhichtheassetcouldbesoldinanarm’slengthtransactionbetweenknowledgeableandwillingparties,netofcostsofdisposal(fairvaluelesscoststosell);andthepresentvalueofthefuturecashflowsthatareexpectedtobederivedfromtheasset(valueinuse).Theexpectedfuturecashflowsincludethosef

4、romtheasset’scontinueduseinthebusinessandthosefromitsultimatedisposal.Valueinuse(VIU)isexplicitlybasedonpresentvaluecalculations.AccountingforassetimpairmentswasnotpracticedinChinauntil1998whentheChinesegovernmentissuedtheAccountingRegulationforListedCompanies.Accordingtot

5、heregulation,listedcompaniesweremandatedtorecognizeassetimpairmentsforfourcategoriesofassets,includingaccountsreceivable,inventories,short-terminvestments,andlong-terminvestments.Therequirementwasexpandedin2001toallcompanieswithfouradditionalcategoriesofassets,includingfix

6、edassets,constructioninprogress,intangibleassets,andentrustedloanswhentheministryoffinancepromulgatedtheAccountingSystemforBusinessEnterprises.Whilediscretionforimpairmentreversalswasexplicitlygrantedinthe2001regulation,detaileddisclosurerequirementswerenotavailableuntil20

7、03whentheministryoffinanceissued“QuestionsandAnswersNo.2:Implementingthe2001AccountingSystemforBusinessEnterprisesandRelatedAccountingStandards.”Accordingtothisdocument,listedcompaniesmustdisclose,inaseparatetable,twotypesofdecreasesinassetimpairmentprovisionaccounts:(1)un

8、realizedreversalsduetotherecoveryofassetimpairments,and(2)write-offsduetothedisposalofass