完全公允價(jià)值會計(jì)它的時(shí)代已經(jīng)到來【外文翻譯】

1、0外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯原文：FullFairValueAccounting:ItsTimeHasComeFairvalueaccountingisnotanewconceptrecentphenomena:Earnestexplationoffairvalueaccountingbeganintheearly1980slongbefeitbecameafcerecognizedbyMainStreetWashington.Eleme

2、ntsoffairvalueaccountingslowlyenteredintogenerallyacceptedaccountingprinciples(“GAAP“)aspromulgatedbytheU.S.FinancialAccountingStardsBoard(“FASB“).Lowerofcostmarketaccountingbecameanacceptedpractice.Writedowntomarketofpe

3、rmanentlyimpairedassetsemerged.Investmentaccountingbaseduponmanagementsintentwasinstitutedwiththreeseparateptfoliostreatments:heldtomaturityheldfsaletrading.StatementofFinancialAccountingStards(“SFAS“)#159nowallowsaoneti

4、memanagementelectionthatisirrevocablewhereinthereptingentitycanchoosetousefairvalueaccountingfedfinancialassetsliabilities.Theresultofthispiecemealapproachhasbeenapatchwkquiltoffinancialstatementuserconfusionreptingincon

5、sistencydepravedofconceptualintegrityheavilydeterminedbymanagementintentelection.HisticalcostaccountingwhereanassetisvaluedatthetimeofacquisitionbaseduponconsiderationtenderedisthoughttohavebeguninthedaysoftheancientRoma

6、ns.Increasinglythislongstingaccountingmethodisviewedasirrelevantmisleading.Depreciationrulesusedtosubsequentlyreduceassetvaluesbyoneofmanystardizedcapriciousmethodstoapproximatetheexpirationofusefulnessareunderstoodtobec

7、rudeestimationswhichprovideonlyminconceptualinsightrelatedtotheunderlyingchangingvalueofanassetwithpassingtime.A1983auditclientpointedoutthisillogictomebyvaluingtheirfixedassetsusingaselfdeterminedclearlynonGAAPaccountin

8、gmethod.Thisclientproperlyrecdedthefixedassetattimeofacquisition.Thereafterhethendepreciatedtheassetusinganacceptablemethodologyuntiltheassetvaluereachedafully2?Willtheriskadjustedcashflowgeneratedbytheassetexceedthecost

9、stomaintainholdtheasset?AmIincurringeconomiclossopptunitycostbycontinuingtoholdthisassetFairvalueanswersthesequestions.Histiccostaccountingdoesnot.Wearealsoabletofmreasonableexpectationsaboutthefuturefromfairvalue.Aloanu

10、nderwritteninthepastwitha5%interestratewhilethemarketratefasimilarloanwithcomparableriskremainingdurationisnow7%indicatesanexpectedeconomiclossanopptunitycosttocontinuingtoholdthe5%loan.Italsocommunicatesthatthisloansmar

11、ketvalueislessthanthebookcarryingvalueonanhisticcostbasis.Futurecashflowinsightsaregleanedfromthisfairvalueinfmationasweknowthatthelikelihoodofbrowerprepaymenthasnowfallen.Pastunderstingofthelifetimeeconomicvalueoftheloa

12、nisalsogained.Weknowthatsubsequentlychangedmarketcircumstanceshavelessenedtheeconomicvalueofourpridecision.Themeasuredinsightsfromfairvaluearedynamictimelyalwaysreflectingcurrentratherthanhisticmarkets.Representationalfa

13、ithfulnessismaintainedbyfairvalueasthecurrenteconomicmarketrealityisdutifullycapturedrepted.Consequentlyinsevenofthetenconceptualacteristicsfairvalueaccountingisproventobemeeffective.Histiccostaccountingmodestlyoutperfms

14、fairvalueinjusttwoofthetenceacteristics:understabilityverifiability.Theunderstabilityadvantageisobtainedsimplybythelongstingcommonpracticeuseofhisticcostaccounting.Histiccostaccountinghasbecomefmanyfinancialstatementprep

15、arersthecomftableoldpairofshoes.Theverifiabilityadvantageisearnedbyhisticcostaccountingsincetheinfmationiscertaintobeconfirmedbyseveralindependentevaluatssincethepurchasepriceisfixedeasilydeterminedanysubsequentadjustmen

16、tslikelyconfmtostarddepreciationschedules.Allthisisnothowevertosaythatfairvalueaccountinglacksunderstabilityverifiability.Theadvantageofhisticcostintheseattributesisnominal.Areptingentitycanelevatefairvaluesratinginthese