財務(wù)報告的質(zhì)量公允價值是利還是弊【外文翻譯】

1、0外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯原文：Financialreptingquality:isfairvalueaplusaminusRecentdeliberationsbyboththeInternationalAccountingStardsBoard(IASB)theFinancialAccountingStardBoard(FASB)intheUnitedStateshavefocusedonhowfairvaluesofassetsl

2、iabilitiesshouldbemeasured.Theissueofwhenratherthanhowfairvaluemeasurementshouldbeappliedisstillfarfromresolvedhowever.FairvalueshavebeenmatedfsomeassetsliabilitiesunderbothIASBFASBstardsbutitisfairtosaythatprinciplesgov

3、erningtheapplicabilityoffairvalueshaveyettobearticulated:whenisfairvalueaccountingappropriatewhenisitnotintermsofmygefthispaperunderwhatcircumstancesisfairvalueaplusaminusTopreparefmytaskImadeasurveyofpublicstatementsmad

4、efagainstfairvalueaccountingbyavarietyofstardsettersregulatsanalystspreparers.Thestated‘minuses’typicallypointtothedangersoffairvalueestimatesfrommarkingtomodelratherthanmarkingtomarketconcernsaboutintroducing‘excessvola

5、tility’intoearningsfeedbackeffects(onbanks’lendingpracticesfexample)thatcoulddamageabusinessindeedheightensystematicrisk.Afewantagonistsquestionwhetherfairvalues(fbankassetsliabilitiesfexample)reallycapturetheeconomicsof

6、abusiness(infosteringcedepositsmakingloans).Incounterpointtheproponentsoffairvaluearguethatfairvalueisasuperieconomicmeasuretohisticalcost.Considerthefollowingargumentsoftenadvancedas‘pluses’:?Investsareconcernedwithvalu

7、enotcostssoreptfairvalues?Withthepassageoftimehisticalpricesbecomeirrelevantinassessinganentity’scurrentfinancialposition.Pricesprovideuptodateinfmationaboutthevalueofassets.?Fairvalueaccountingreptsassetsliabilitiesinth

8、ewaythataneconomist2replacementcostwithcurrentcoststhenrecdedintheincomestatementwithunrealised(holding)gainslossesalsorecognised.Revenuerecognitionmatchingismaintainedbutincomebasedoncurrentcostsissaidtobeabetterindicat

9、ofthefuturenotpathdependent.(3)Fairvaluecontinuallyappliedasexitvalue:Assetsliabilitiesareremarkedeachperiodtocurrentexitpricewithunrealisedgainslossesfromtheremarkingrecdedaspartof(comprehensive)income.1.1.Fairvaluetowh

10、omAswithanypolicyissuepreionscannotbemadewithoutanunderstingoftheobjectivesoftheexercise.TowhomarewereptingWhosepluseswhoseminusesDifferentusersmaydemdifferentaccountingreptsconfusionreignsifissuesarediscussedatcrosspurp

11、oses.Ashareholdermightrecogniseagainfromafallinthemarketvalueofdebtascreditwthinessdeteriatesbutnotthecredit.Bankshareholdersmightwishtoseebankdepositsatfairvaluebutnotthedeposits.Abankregulatwouldalsobeconcernedaboutrep

12、tingdepositsatlessthanfacevalueifsuchreptingaffecteddeposits’confidenceinthebankingsystem.Whileaninvestmightwelcometheinfmationaboutvolatilitythatfairvalueaccountingrevealsnotsoacentralbankerwhomightbeconcernedaboutfeedb

13、ackeffectsonsystematicrisk.Abankregulatmightbeconcernedaboutmarkingupbankscapitalduringspeculativetimeswiththeresultingincentivefprofligatelending.InthistalkItakeashareholderperspective:whataretheplusesminusesofusingfair

14、valueaccounting(ratherthanhisticalcostaccounting)freptingtoshareholdersThisIsubmitishardlycontroversialtheshareholdersaretheownerstowhommanagementauditsrept.Butitdoesmeanthatifstardsettershaveabroadersetofconstituentsinm