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1、本科畢業(yè)論文（設(shè)計(jì)）外文翻譯外文題目CausesEttectsofDiscretionaryAssetWriteOffs外文出處JournalofAccountingResearchVol.34Supplement1996外文作者JenniferFrancisJ.DouglasHannaLindaVincent原文：原文：CausesEffectsofDiscretionaryAssetWriteOffsIntroductionThis

2、paperprovidesevidenceonthecausesshareholderwealtheffectsofdiscretionaryassetwriteoffs.Weusetheterm“writeoff“torefertobothcompletepartialdownwardassetrevaluationswedescribeoursamplewriteoffsasdiscretionarybecauseoverthe19

3、8992periodcoveredbythestudytherewaslittleauthitativeguidanceontheaccountingfmosttypesofassetimpairmentsotherthaninventy.Theabsenceofexplicitguidancefmanyassetspermittedsubstantialmanagementdiscretionaboutamountstimingofw

4、riteoffs.TheAmericanInstituteofCertifiedPublicAccountantsurgedtheFinancialAccountingStardsBoardin1980toexaminetheassetimpairmentissuebecausetheybelievedthatthevarietyofpracticesterminologyvaluationmethodsinusereducedthec

5、omparabilityconsistencyoffinancialstatements.TheseconcernsechoedbytheEmergingIssuesTaskFcetheFinancialAccountingStardsAdvisyCommitteetheFinancialExecutivesInstitutetheNationalAssociationofAccountantsintensifiedasboththef

6、requencythemagnitudeofwriteoffsincreasedduringthe1980s.TheFASBsresponsewastoadoptSFASNo.121(March1995)whichspecifiescriteriafdeterminingwhetherimpairmentoflonglivedassetshasoccurredhowmuchimpairmentshouldberecognized.The

7、nextsectiondetailstheionofthewriteoffnonwriteoffsamplesprcnidesdeivestatisticsaboutthesamplewriteoffannouncements.Section3describesthedeterminantsofthewriteoffdecisionsection4discussesthesliareholderwealtheffectsofthewri

8、teoffannouncements.Section5summarizestheresultsconcludes.SampleDeiveInfmationWeidentifyasampleof3909potentialwriteoffannouncementspublishedbyPRNeuiswirehetweenJanuary11989December311992.Weeliminatethosewhichdonotrelateto

9、assetwritedowns(n=3078)whichareprecededbyanearlierannouncementofthewriteoff(w=85)whicharemadebyfinancialinstitutionsn=72).Ftheremaining674announcementswecodethedateoftheannouncement(day0)thefiscalyearquarterinwhichdriewr

10、iteoffwillbeincludedinincomethetypesofassetswrittendownthepretaxamountofthewriteoffanyconcurrentdisclosures.Wealsocodedataonwhetherthewriteoffisprecipitatedbyacpateaction(e.g.plantclosingdiscontinuanceofaproductlineplann

11、edsaleofpartofabusinessunit)whethertheannouncementprovidesapositivenegativeneutralsignalabouttheeffectofthewriteoffonfutureperfmance(e.g.statementsthatthewriteoffwillleadtoimprovedperfmancearecodedaspositivestatementstha

12、tthepoperfmancewhichledtothewriteoffwillpersistarecodedasnegativeallothersarecodedasneutral).Table1summarizesinfmationaboutthesampledisclosures.PanelAdescribesthedistributionofthewriteoffannouncementsacrossfiscalyearsqua

13、rters.Themajityofwriteoffsareincludedinfourthquarterincome:ofthe433announcementswithfiscalquarterdatamadeover19899156%aretakeninthefourthquarter.PanelAalsoreptsevidenceofsamplebiasintroducedbyourfocusonwriteoffannounceme

14、nts.Specificallyouranalysesofthecausesshareholderwealtheffectsofwriteoffsarejointtestsofmanagementsdecisionstowriteoffassetstodiscloseinpressreleasesthattheyhavedoneso.MarketReactionstoWriteOffAnnouncementsWriteoffdisclo

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