未來公允價值的變化【外文翻譯】_第1頁
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1、外文文獻翻譯外文文獻翻譯原文：FairValueChangesAheadTheuseoffairvalueinfinancialreptingisnotnewitisrequiredpermittedundermanystardssomeofwhichhavebeeninplacefdecades.Yetgivenitsroleintheassetwritedownsmarketvolatilityprecipitatedbythefi

2、nancialcrisistherehasbeenconsiderablediscussiondebateabouttheuseoffairvalueinfinancialrepting.AsthefinancialcrisishasbroadenedthedebatehasevolvedintoaglobaloneinvolvingnotonlyFASBitsinternationalcounterparttheInternation

3、alAccountingStardsBoard(IASB)butalsosecuritiesparticipantsintheglobalcapitalmarkets.Responsestothefinancialcrisishavefocusedonfairvalueaccountinghaveledtochangesinthestardsthatwillaffectfinancialreptinggoingfward.TheFair

4、ValueDebateAtthecenterofthefairvaluedebateisSFAS157FairValueMeasurementswhichwentintoeffectffinancialassetsliabilitiesin2008.SFAS157clarifiesthatwhenfairvalueisusedinfinancialreptingthemeasurementshouldrepresentacurrentm

5、arketprice.SFAS157establishesaframewkfdeterminingfairvaluebutitdoesnotspecifywhentousefairvalue.SFAS157itscurrentmarketpriceobjectiveonlyapplywhenotherstardsrequirepermittheuseoffairvalue.ThereptingmodelintheUnitedStates

6、(abroad)isamixedattributemodelthatusesacombinationofmeasurementsincludinghisticalcostfairvalueotherbasessuchaslowerofcostfairvalue.Theuseoffairvaluehasexpedinrecentyears.Fexamplemefairvaluesarenowrequiredwhenaccountingfa

7、businesscombinationunderSFAS141(R)BusinessCombinations.InadditioncompanieshavetheoptiontovoluntarilyusefairvaluefcertainfinancialitemsfwhichfairvalueisnototherwiserequiredinspecifiedcircumstancesunderSFAS159TheFairValueO

8、ptionfFinancialAssetsFinancialLiabilities.Neverthelessthatfairvalueaccountinghasexposedthedeteriatingfinancialconditionofmanyfinancialinstitutionsthatsuspendingfairvalueaccountingwouldweakeninvestconfidenceaddtoinstabili

9、tyinthecapitalmarkets.FexampleinajointstatementopposingthesuspensionofmarktomarketaccountingissuedonOctober12008theCenterfAuditQualitytheCouncilofInstitutionalInveststheCFAInstitutestated:Suspendingfairvalueaccountingdur

10、ingthesechallengingeconomictimeswoulddepriveinvestsofcriticalfinancialinfmationwhenitisneededmost.Fairvalueaccountingwithrobustdisclosuresprovidesmeaccuratetimelycomparableinfmationtoinveststhanamountsthatwouldhavebeenre

11、ptedunderotheralternativeapproaches.Investshavearighttoknowthecurrentvalueofaninvestmenteveniftheinvestmentisfallingshtofthepastfutureexpectations.TheEmergencyEconomicStabilizationActof2008(EESA)requiredtheSECtoconductas

12、tudyontheuseofmarktomarket(fairvalue)accountingbyfinancialinstitutions(section133).InDecember2008theSECissuedReptRecommendationsPursuanttoSection133oftheEmergencyEconomicStabilizationActof2008:StudyonMarktoMarketAccounti

13、ng.BasedonitsstudytheSECconcludedthatfairvalueaccountingprovidesdecisionusefulinfmationtoinvestsdidnotplayameaningfulroleinrecentbankfailures.TheSECrecommendedthatfairvalueaccountingbeimprovednotsuspended.InitsrepttheSEC

14、emphasizedthathavingstardsinplacethatmeettheneedsofinvestsiscriticalnotingthattheobjectiveoffinancialreptingistoproviderelevanttransparentunbiasedfinancialinfmationtoinveststhecapitalmarketsindertofacilitateinfmedinvestm

15、entdecisions.FairValueChangesf2009ReptingAtthispointthekeyprinciplesoutlinedinSFAS157areineffectf2009repting.Recentlyissuedfairvalueguidanceclarifiesbutdoesnotchangethoseprinciples.Theserecentclarificationsemphasizethene

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