外文資料翻譯---公允價(jià)值運(yùn)用的國(guó)內(nèi)外比較應(yīng)用分析

1、<p>　　本 科 畢 業(yè) 設(shè) 計(jì)（論文）</p><p>　　題目 論公允價(jià)值在我國(guó)的運(yùn)用 </p><p>　　附錄 外文資料與中文翻譯</p><p>　　院（系部） 工商管理系 </p><p>　　專業(yè)名稱 會(huì)計(jì)學(xué) </p><p&g

2、t;　　年級(jí)班級(jí) 08會(huì)計(jì)—4班 </p><p>　　學(xué)生姓名 許 欣 </p><p>　　指導(dǎo)教師 </p><p>　　2012 年 05月 23日</p><p><b>　　附 錄</b

3、></p><p><b>　　外文資料與中文翻譯</b></p><p><b>　　外文資料：</b></p><p>　　The application of fair value in the domestic and international comparative analysis</p>

4、<p>　　1 the definition of fair value</p><p>　　1.1 fair value definition comparative analysis</p><p>　　From the definition of fair value can be seen, different countries, institutions for f

5、air value definition although expressed in different ways, but its connotation basically the same:</p><p>　　(1) the transaction fairness. Fair value is familiar with the situation between the two sides in th

6、e voluntary transactions in form, not in the forced liquidation or formed in the process of.</p><p>　　(2) market compatibility. Active market and the active market can form the fair value. Active market in t

7、he market is the best evidence of fair value, but not the only evidence. When there is no active market, can be used in a variety of valuation techniques to provide a good estimation of the fair value of the mouth.</p

8、><p>　　(3) emphasize the relativity, i.e. exchange to determine the fair value is in relatively reasonable under the circumstances. The fair value is for its essence is a kind of ideal under the assumption that

9、 the value embodiment of social reality, and this hypothesis is difficult to fully realize. No matter how perfect transaction market, how wise, not likely to collect all information and effective analysis of information

10、make absolutely correct decision. Fair value is the market value, namely, the</p><p>　　(4) the comprehensive measurement. Fair value refers not only to the fair value of the assets, including the fair value

11、of the latter over a long period of time had been ignored.</p><p>　　1.2 china fair value definition theoretical defects</p><p>　　On the definition of fair value is substantially consistent with

12、international. But this definition was studied, and combined with the fair value of specific access technology, we can find that, the fair value of the definition itself is not with no chink in one's armour, it is ce

13、rtain to have some theoretical defects.</p><p>　　First, the definition of fair value in the emphasis on " even bargain", but in actual application, fairness is vague and difficult to guarantee the.

14、 For example, in a buyer's market or seller's market, by the impact of supply and demand, the actual transaction price is very difficult to achieve the true fair. For example, a license plate number or a certain

15、kind of tea, with hundreds of thousands or even millions of prices, completely is traded a willing willing to endure a voluntary exchange pr</p><p>　　Secondly, based on the fair value definition emphasizes t

16、he" transaction" and produce, but a lot of the fair value of the acquisition is not derived from trading. But more often to the enterprise resource in a transaction and although the transaction but no observabl

17、e amount in case, according to the same or similar situation made estimation and evaluation. For example, the fair value not only for the initial measurement, are often used in subsequent measurement, and subsequent meas

18、urement are m</p><p>　　1.3 the United States of America fair value definition development reference to China</p><p>　　(1)orderly transaction. The United States of" orderly transaction"

19、 and the international accounting standards board ( IASB ) and our country Ministry of Finance stated" even bargain " concept has bigger difference. " Orderly transaction" emphasize in the market full

20、 disclosure and assets or liabilities owner's initiative, and" even bargain " emphasize the transaction itself the unforced. " Orderly transaction " concept can be covered " even bargain &quo

21、t; concept.</p><p>　　(2)compared to the SFASNO.157, China's new accounting standards will be the fair value is defined as the transaction both sides of transaction is generated based on the amount, but n

22、ot clearly expressed concern at the price. In some cases ( such as the related party transaction ) even if the transaction both sides, the price is also a lack of fairness, but also reduces the reliability of. China'

23、s new accounting standards fair value makers provided only limited to both parties to the transaction,</p><p>　　(3)the definition of " market" and the international definition of " involved in

24、 the transaction parties"," market participants" the scope to be bigger. Because, although the price in trading by parties to the transaction is selected, but there is an active market, the price actually

25、depends on other market participants to trade between the equilibrium price; and in some cases, pricing is not a trading conditions, such as asset revaluation, the reference market pricing the other participant in t</

26、p><p>　　2 the application of the fair value of market conditions</p><p>　　2.1fair value market conditions</p><p>　　The definition of fair value can be seen in fair value and market con

27、ditions of the relationship. IASB and fair value in China is defined as:" the even bargain, the Party of be in voluntary basis for exchange of assets or liabilities repayment amount." The United States FASB acc

28、ounting standards issued by the FASl57" fair value" in the definition of fair value in the measurement for: with market traders in an orderly transaction, sale of assets or liabilities received transfer price.

29、As can be s</p><p>　　Whether fair value is active on the market the actual transaction price? In essence, the fair value is a kind of evaluation based on market information. The fair value of the identified

30、three ways, namely, the existence of market trade, exchange price for the fair value; market price is all market participants fully consideration of an asset or liability in the future cash flow and its uncertainty after

31、 the formation of the consensus, if there is no evidence to the contrary that the transaction </p><p>　　On the fair value measurement requirements of what kind of market environment, Hunan University profess

32、or Xie Shifen (2001) discusses the very good answer to this question:" fair value only require even bargain, does not require active market, the market economy and the developed market economy, the market demand is

33、not high. That the fair value to active market economy, or the fair value is not used for the view is wrong. It hinders China's system of accounting standards and international accou</p><p>　　Commerciali

34、ze degree, fair value is the premise of even bargain. The high degree of marketization, market activity is as fair value acquisition provides a good foundation, but in the low degree of market situation, voluntary, mutua

35、l benefit, equivalence based even bargain still exists, resulting even bargain prices through multiple channels can get. Even in the absence of actual transactions occur, may also through imitate market transaction param

36、eters judgements and estimates, or through the pr</p><p>　　2.2 China's application of fair value conditions</p><p>　　In our country, many accounting profession of our country current element

37、 market is mature, the lack of active market, fair value is often difficult to obtain, the market environment is not suitable for the application of fair value, fair value application requires active mature market, while

38、 China is precisely the lack of this kind of market, so in our country it is difficult to apply fair value. The application of fair value needed to have certain market conditions, but we can not because the </p>&

39、lt;p>　　(1) the development of the financial market for the application of fair value of laying a foundation for China's capital market after 10 years of development has accumulated a certain theoretical and practi

40、cal basis. With international economic integration degree deepening, the international capital market between mutual infiltration and mutual restriction for our first implementation of the fair value in the financial mar

41、ket provides feasibility. More and more enterprises to participate in the </p><p>　　(2) the fair value measurement in terms of the technical problems have been breakthroughs in fair value not only as short-t

42、erm investments and derivative financial instruments measurement basis, and continues to expand into other areas, such as long-term investments. In fact, since investors because of the decision to produce to company earn

43、ings information needs, fair value accounting is becoming more and more favored by investors and creditors, because of the need to calculate a company during</p><p>　　3 the application of the fair value of i

44、nternational comparison</p><p>　　3.1 international accounting standards in the application of fair value</p><p>　　For all the derivatives using fair value measurement, is the goal of IASC. IASC

45、is still on the financial tools are classified, the historical cost and fair value measurement patterns coexist, the existing international accounting standards of financial instruments, involving business there are thre

46、e major, namely < International Accounting Standards No. thirtieth -- banking and other similar financial institutions in the financial statements disclosure"," international accounting standards thir</p&

47、gt;<p>　　IASC on fair value in financial instruments on the application of reflected the principle of step by step, which require some of the fair value of financial instruments are disclosed, gradually requiremen

48、ts to confirm some of the fair value of financial instruments. And confirm scope expands gradually. So that the final completion of all financial instruments are measured by fair value objective.</p><p>　　IA

49、S32 on the fair value of a financial instrument is disclosed to make following provisions:</p><p>　　(1) for each class has confirmed the financial assets and liabilities of enterprises of Yu Rong, shall disc

50、lose the fair value information. If the time or cost constraints. When enough to reliably determine the financial assets or financial liabilities at fair value is not feasible, a fact that should be together with regard

51、to their fair values related to financial tool is the main feature with disclosure.</p><p>　　(2) when an enterprise or a number of financial assets to more than its fair value is the amount listed timekeepin

52、g. Enterprises should be disclosed: single asset or individual assets to the appropriate category of the carrying amount of the fair value: does not reduce the amount of paper will cause, including available to managemen

53、t so that the carrying amount of evidence that can be recovered. The fair value of the financial assets or financial liabilities, enterprise should according to its c</p><p>　　The subsequent measurement of f

54、inancial assets, financial assets to IAS39will be divided into four categories : 1enterprise source but not to trade while holding the loans and receivables; II held to maturity with investment; the available-for-sale fi

55、nancial assets; the financial assets held for trading. On the different kinds of assets, IAS39made different rules: initial recognition, first and second class, should be considered if it has determinate the amortized co

56、st or cost, in addition to th</p><p>　　For the financial liabilities and follow-up measurement, after initial recognition, the enterprise should be generally measured at amortised cost of various financial l

57、iabilities. Liabilities held for trading and derivatives that are liabilities in the initial confirmation should be measured at fair value.</p><p>　　3.2 of China's accounting standards in the application

58、 of fair value</p><p>　　China has established four accounting standards for financial instruments, namely the" Enterprise Accounting Standards No. twenty-second recognition and measurement of financial

59、instruments"," Enterprise Accounting Standards No. twenty-third to the transfer of a financial asset"," Enterprise Accounting Standards No. twenty-fourth ~ hedging" and" Enterprise Accountin

60、g Standards No. thirty-seventh presentation of financial instruments"" enterprise accounting rule twenty-second - recognition and me</p><p>　　The enterprise has the intention of holding or ability

61、to change, so that an investment is no longer suitable to be classified as held-to-maturity investments, it shall be classified as available for sale financial assets at fair value, and a subsequent measurement.</p>

62、;<p>　　" Enterprise Accounting Standards No. twenty-third" the transfer of a financial asset measurement of transfer of financial assets third chapter: financial assets transfer meet termination recognit

63、ion conditions shall include the following two items, the amount of variance in the current profits and losses : the carrying amount of the transferred financial asset: II of consideration received from the transfer, and

64、 originally recorded in the the rights and interests of the owners of the accumulati</p><p>　　"Enterprise Accounting Standards No. twenty-fourth" -- hedging hedging confirming and measuring third c

65、hapter: a hedged item is an unrecognized firm commitment, the firm commitment resulting from the hedged risk the accumulative amount of the changes in fair value shall be recognized as an asset or liability, the related

66、gain or loss shall be included in the current profits and losses, related the changes in the fair value of the hedging instrument shall also be included in the current profits a</p><p>　　"Enterprise Acc

67、ounting Standards No. thirty-seventh -- presentation of financial instruments" financial instruments listed in chapter second: enterprise regulations issued non-derivative financial: l: includes liability and equity

68、 components. Shall at the time of initial recognition of the liability and equity components are analyzed, respectively, for processing. In the spin-off, should first determine the fair value of the liability component a

69、s its initial confirmation amount, according to th</p><p>　　The above three standards setting body of financial instruments in the application of fair value for comparison: first, in the classification of fi

70、nancial assets. The United States accounting standards will be divided into three categories. China and the international accounting standards will be divided into four categories, namely: the trading of financial assets

71、, held-to-maturity investments, loans and receivables, financial assets available for sale. American accounting standards do not incl</p><p>　　4 Application of fair value in our country a few proposal</p&

72、gt;<p>　　The new enterprise accounting standards' promulgation and the implementation, no doubt in the use of fair value on a big step, the next task is to ensure the fair value in practice to get the correct

73、use, really play its positive role. The fair value of the confirmation and measurement of a historical cost is more complex, the occupation judgment is very high. Whether a company and its accountants, registered account

74、ants and other intermediary agencies, or the relevant regulatory institutions an</p><p>　　4.1 to improve the application of the fair value of market conditions</p><p>　　The introduction of fair

75、value measurement attribute of the premise, is essential to establish a uniform and fully competitive market. The fair value is not equal to the market price, but the market prices are the highest degree of objective, re

76、liable, fair value is the most simple source. Market growth is good or bad for fair value accounting has great influence. So it should strive to cultivate the market at all levels, especially the means of production mark

77、et and the secondary market trading</p><p>　　4.2 strengthen the fair value of theoretical research, establish standard of fair value measurement</p><p>　　For the use of fair value, improve the t

78、heory than the active market and talents with high quality is more important. Although in 2007the implementation of the new enterprise accounting standards on the fair value measurement attribute gives a preliminary defi

79、nition and method of use, but the fair value in our country is still a further research topics, theoretical circles on the fair value is mostly sporadic research, comprehensive and systematic research is less, and has no

80、t formed a complete </p><p>　　4.3the listed company information disclosure system of fair value</p><p>　　Full disclosure of fair value application. Based on the estimation of foundation, estimat

81、ion of the key factors of the validation methods, estimation process as well as the estimation results and full disclosure of information, the user fully understand the formation process of fair value.</p><p&g

82、t;　　(1) requires the use of fair value measurement model of the company not only in the annual report disclosure of investment real estate situation, and to separate in the form of announcement annual report disclosure t

83、han more detailed information, including real estate investment subsidiary, initial cost, help the users of financial statements to obtain necessary information, while allowing the market to on the information disclosure

84、 supervision.</p><p>　　(2) in non monetary assets exchange process, requiring companies to disclose the fair value of the acquisition and the commercial essence judgment basis and other information, so that

85、investors understand clearly the transaction status.</p><p>　　(3) in the debt reorganization process, facing delisting risk warning and to restore the listed companies, as the debt restructuring income inclu

86、ded in a company's profitability, easy to medium and small shareholders misleading. Therefore, regulators could require the company to its own profit formation process instructions and disclosure, make shareholders u

87、nderstand the profit of the company is how to form, in order to make the right investment decision.</p><p>　　(4) the existence of shares to pay the company, in the rules of the content, should focus on the d

88、isclosure of the following: estimation of the number of facts, the judgment standard and the method of determining fair value. Involving the use of valuation techniques, should illustrate the method selection of reason,

89、valuation model using the parameters.</p><p>　　Thus, the users of financial statements can according to the public disclosure and other information not form independent judgment, recognize the surplus manage

90、ment means, thereby reducing the management the use of fair value of earnings manipulation earnings, prevent the fair value of the earnings manipulation risk.</p><p>　　4.4 strengthening the audit facilities

91、construction</p><p>　　Accounting and auditing are inseparable, accounting executive quality, but also depends on the development and perfection of the audit, the fair value accounting, accounting information

92、 has a great subjectivity, therefore in order to prevent the accounting personnel to manipulate accounting data to provide false information, strengthen the audit work is essential, to formulate and perfect and fair valu

93、e related to auditing standards will be the fair value measurement to correct the important gua</p><p>　　4.5 strengthening the practitioners of the occupation judgment ability and professional level</p>

94、;<p>　　No practitioners of high-quality, fair value can not be a reasonable estimate and very good use. Therefore, increasing investment in education, training with the fair value concept, understand the theory pr

95、actice, occupation moral of accounting personnel is the fair value to the full use of the essential condition, is to reduce the application of fair value measurement cost need.</p><p>　　In addition to the ab

96、ove several aspects to strengthen, in our implementation of the application of fair value in the process also to the attention of a lot of problems, such as to strengthen the business and market supervision, perfect the

97、corporate governance structure, strengthen enterprise informatization construction and so on. To make a long story short, in our implementation of the application of fair value is not a short duration of time things, sho

98、uld be combined with China's specific n</p><p><b>　　中文翻譯：</b></p><p>　　公允價(jià)值運(yùn)用的國(guó)內(nèi)外比較應(yīng)用分析</p><p><b>　　1 公允價(jià)值的定義</b></p><p>　　1.1 公允價(jià)值定義的比較分析&l

99、t;/p><p>　　從上述公允價(jià)值的定義可以看出，不同的國(guó)家、機(jī)構(gòu)對(duì)公允價(jià)值定義雖然表述方式不同，但其內(nèi)涵基本相同：</p><p>　　(1)交易的公允性。公允價(jià)值是在熟悉情況的自愿雙方之間進(jìn)行的交易中形成的，不是在強(qiáng)迫或清算的過(guò)程中形成的。</p><p>　　(2)交易市場(chǎng)的兼容性?；钴S市場(chǎng)和非活躍市場(chǎng)都可以形成公允價(jià)值?；钴S市場(chǎng)中的市價(jià)是公允價(jià)值的最好證據(jù)，但