外文翻译--可操控资产计提减值的原因及结果分析

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1、夕卜文出处JournalofAccountingResearchVbl.34Supplement1996夕卜文作者JenniferFrancisJ.DouglasHanna,andLindaVincent原文：CausesandEffectsofDiscretionaryAssetWrite-OffsIntroductionThispaperprovidesevidenceonthecausesandshareholderwealtheffectsofdiscretionaryassetwrite-offs.WeusethetermHwrite-o

2、ff1torefertobothcompleteandpartialdownwardassetrevaluations,andwedescribeoursamplewrite-offsasdiscretionarybecauseoverthe1989-92periodcoveredbythestudy,therewaslittleauthoritativeguidanceontheaccountingformosttypesofassetimpairments,otherthaninventory.Theabsenceofexplicitguida

3、nceformanyassetspermittedsubstantialmanagementdiscretionaboutamountsandtimingofwrite-offs.TheAmericanInstituteofCertifiedPublicAccountantsurgedtheFinancialAccountingStandardsBoardin1980toexaminetheassetimpairmentissuebecausetheybelievedthatthevarietyofpractices,terminology,and

4、valuationmethodsinusereducedthecomparabilityandconsistencyoffinancialstatements.Theseconcerns,echoedbytheEmergingIssuesTaskForce,theFinancialAccountingStandardsAdvisoryCommittee,theFinancialExecutivesInstitute,andtheNationalAssociationofAccoun-tants,intensifiedasboththefrequen

5、cyandthemagnitudeofwrite-offsincreasedduringthe1980s.TheFASB'sresponsewastoadoptSFASNo.121(March1995)whichspecifiescriteriafordeterminingwhetherimpairmentoflong-livedassetshasoccurredandhowmuchimpairmentshouldberecognized・Theexpresseddemandsforauthoritativeguidanceontheaccount

6、ingforassetimpairmentsappeartobebasedonanotionthatmanagementstakeadvantageofthediscretionaffordedbytheaccountingrulestomanipulateearningseitherbynotrecognizingimpairmentwhenithasoccurredorbyrecognizingitonlywhenitisadvantageous(tothem)todoso.Thischaracterizationofwrite-offsass

7、umesthatmanagershaveincentivestomanageearningsintheseways,andthatinvestorsaresomehowunabletoundothesemanipulations.Analternativeviewisthatmanagerstakewrite・offsnottomanipulateearningsbuttoreflectdeclinesinthevaluesofassetsduetopoorfirmperformance,actionstakenbycompetitors,chan

8、gesintheeconomicclimate,orchangesinmanagementstrategies.Ourst