重要會計政策的報告外文翻譯

1、<p><b>　　中文3570字</b></p><p>　　本科畢業(yè)論文（設(shè)計）</p><p>　　外 文 翻 譯</p><p>　　題 目 上市公司會計政策的選擇研究 </p><p>　　專 業(yè) 會 計

2、 學(xué) </p><p>　　外文題目 Reporting Critical Accounting Policies </p><p>　　外文出處 THE CPA JOURNAL </p><p>　　外文作者 Mark P.Hol

3、tzman </p><p><b>　　原文：</b></p><p>　　Reporting Critical Accounting Policies</p><p>　　Accountants inevitably make many accounting estimates and policy decisio

4、ns when preparing financial statements. They must select depreciable lives for long-lived assets. choose an inventory costing method, make assumptions about pensions, and make many more judgments. These accounting estima

5、tes are driven by an entity's accounting policy as it applies to the issues at hand. These decisions could significantly affect a company's financial statements and how users understand a company's results an

6、</p><p>　　For this reason, the SEC requires companies to report "critical accounting policies" (CAP) as part of Management's Discussion and Analysis (MD&A). The SEC has issued many comment

7、letters about companies' CAPS, indicating their importance. What follows is an overview of the SEC’S requirements and proposed rule on CAPS, as well as a survey of current practices by large companies.</p><

8、;p>　　The SEC’S Interpretation</p><p>　　In December 2003, the SEC released FR-72, "Interpretation: Commission Guidance Regarding Management's Discussion and Analysis of Financial Condition and Res

9、ults of Operations" (www.sec.gov/rules/interp/33-835O.htm). This covered many different areas of MD&A, including critical accounting estimates. The interpretation defines critical accounting estimates as those &

10、quot;estimates or assumptions where [1] the nature of the estimates or assumptions is material due to the levels of subjectivity and judgm</p><p>　　The rule states that critical accounting estimate disclosur

11、es in the MD&A should supplement the description of significant accounting policies provided at the beginning of the notes to the financial statements [required under Accounting Principles Board (APB) Opinion 22 and

12、AICPA Statement of Position (SOP) 94-6]. The MD&A disclosure should provide more insight into the quality and variability of information on the balance sheet and income statement. Furthermore, the disclosure should a

13、nalyze th</p><p>　　Accountants should explain why critical accounting estimates bear the risk of change. Furthermore, they should explain how they arrived at the estimate, how accurate the estimate or assump

14、tion has been in the past, how much the estimate or assumption has changed in the past, and whether the estimate or assumption is reasonably likely to change in the future. When quantitative, material information is avai

15、lable, accountants should quantify the sensitivity to change based on reasonably likely outc</p><p>　　The SEC’S Proposed Rule</p><p>　　In May 2002, prior to the issuance of the above interpretat

16、ion, the SEC released a proposed rule. “Disclosure in Management's Discussion and Analysis about the Application of Critical Accounting Policies” This proposed rule provides more complete and direct guidance than the

17、 interpretation. The SEC has yet to act upon this proposal; it has not issued any amended proposals or final rules on the matter. Furthermore, the SEC'S Division of Corporation Finance's most recent Current Accou

18、nting and Dis</p><p>　　The proposed rule would redefine the criteria for CAPS to focus on the following: 1) critical accounting estimates that require a company to draw assumptions about highly uncertain mat

19、ters; and 2) alternate estimates in the current period, or changes in the estimate that are reasonably likely in future periods that would materially impact the presentation of the company's financial condition, chan

20、ges in financial condition, or results of operations.</p><p>　　The proposed rule sets a number of additional disclosures for each estimate. Companies would be required to explain the significance of each cri

21、tical accounting estimate to the financial statements and, where material, to individual financial statement line items. Furthermore, the proposed rule would require quantifying financial statements' sensitivity to c

22、hanges made in each critical accounting estimate, and disclosing historical changes in a company's critical accounting estimates over the pa</p><p>　　For initial adoptions of accounting policies, compani

23、es would be required to describe the following: 1) the events or transactions that gave rise to the initial adoption; 2) the accounting principle adopted, and the method of applying it; and 3) the qualitative impact of t

24、he adoption on the company's financial statements. If there is a choice among acceptable accounting principles, the company would have to identify the alternatives and describe why it made the choice that it did. In

25、the absence</p><p>　　The proposed rule implicitly differentiates CAPS from estimates. Policies are plans of action to guide future decisions, whereas estimates are individual decisions made when preparing fi

26、nancial statement. Companies must disclose information about initial adoptions of new policies. New estimates, however, may need to be reconsidered with every new set of financial statements.</p><p>　　Under

27、 the proposal, filers would be required to disclose whether they discussed a company's critical accounting estimates with the audit committee. They would not be requited to disclose the nature of those discussions.&l

28、t;/p><p>　　Companies operating with more than one segment would have to identify specific segments affected by a CAP. In addition to company-wide critical accounting disclosures, companies would have to discuss

29、 CAPS for each identified segment.</p><p>　　The proposed rule also put forward the idea of requiring an independent audit of MD&A. It would require companies to provide quarterly updates of critical acco

30、unting estimates in their quarterly filings, including newly identified critical accounting estimates, and other material changes that would render previous disclosures out of date or misleading. The proposed rule would

31、not require companies to update sensitivity analyses each quarter. Foreign private issuers would be required to meet thes</p><p>　　When preparing CAP disclosures, accountants will find the SEC'S interpre

32、tation (FR-72) lacking useful specifies. Even though the SEC has not acted upon it as of yet. accountants should read and consider using the proposed rule as a source of more specific guidance.</p><p>　　Curr

33、ent Practice</p><p>　　The author reviewed annual reports of the largest 100 publicly traded companies from the Fortune 500. The author analyzed 10-K filings with fiscal year-ends between December 31, 2005, a

34、nd December 30, 2006.</p><p>　　Three accounting issues dominate companies’ CAP disclosures: impairments, pensions, and income taxes. As indicated in Exhibit 1, 39 out of 100 companies reported CAPS for impai

35、rments of intangibles, 25 reported CAPS for impairments in general, and 14 reported impairments of tangible assets. Another six reported CAPS for the valuation of residual costs of leased assets. With respect to postempl

36、oyment benefits, 64 companies reported CAPS, and two of those companies reported additional CAPS just fo</p><p>　　The 100 companies reported many additional types of CAPS, as shown in Exhibit 1. Forty-four c

37、ompanies reported CAPS for contingencies, 32 for revenue recognition, and 32 for bad-debt reserves. Valuation of investments and financial instruments was addressed by CAPS for 30 companies, and inventory for 24.</p&g

38、t;<p>　　Several CAP disclosures were industry-specific. Insurance companies reported claims liabilities as a CAP. Most retailers and retail suppliers addressed purchase and sales allowances (21 CAPS). Oil and gas

39、companies reported oil and gas accounting (four CAPS). and entertainment companies reported capitalization of entertainment assets (three CAPS).</p><p>　　The average company reported 5.6 CAPS in its MD&A

40、. By contrast, a previous study by the Financial Executives Research Foundation reported an average of 6.1 CAPS per company (this author, A Review of 2002 MD&A Disclosures: Critical Accounting Policies). The fewest C

41、APS reported were two, by an investment bank, but this company's disclosures were very long and detailed. The highest number of CAPS reported was 11, by a grocery chain.</p><p>　　Many companies provided

42、very detailed disclosures. For example, Exhibit 2 shows the Ford Motor Company's disclosure about other postemployment benefits (10-K/A, fiscal year-end December 31,2005). This disclosure indicates that management be

43、lieves that other postemployment benefits are a delicate area of accounting for the company, and that Ford’s income and financial position are very sensitive to specific assumptions. Ford explains, in detail, the need fo

44、r estimates and the assumptions used. Fu</p><p>　　Exhibit 2 also illustrates many important concepts about reporting such policies. First of all, accountants should write disclosures in plain English, using

45、simple declarative sentences. Use the active voice rather than the passive voice. Avoid complex words when simple ones will suffice. Use formatting tools, such as bullet points, to clarity the structure of ideas.</p&g

46、t;<p>　　Ideally, CAP disclosures should explain why estimates are necessary, emphasizing the necessary judgments and the inherent uncertainty in each area. For example, according to Best Buy; “Our impairment loss

47、calculations contain uncertainties because they require management to make assumptions and to apply judgment to estimate future cash flows and asset fair values, including forecasting useful lives of the assets and selec

48、ting the discount rate that reflects the risk inherent in future cash flows</p><p>　　According to United Technologies:</p><p>　　In assessing the need for a valuation allowance, we estimate futur

49、e taxable income, considering the feasibility of ongoing tax planning strategies and the realizability of tax loss carryforwards. Valuation allowances related to deferred tax assets can be affected by changes to tax laws

50、, changes to statutory tax rates and future taxable income levels. In the event we were to determine that we would not be able to realize all or a portion of our deferred tax assets in the future, we would reduce s</p

51、><p>　　The disclosures should describe the company's accounting. For example, Delphi Corporation explains how it estimates future cash flows when testing long-lived assets for impairment: “We estimate cash

52、flows using internal budgets based on recent sales data, independent automotive production volume estimates and customer commitment and consultation with and input from external valuation experts” (Form 10-K. 12/31/2005)

53、.</p><p>　　Companies should provide sensitivity analysis for each critical accounting area, quantifying how different estimates could affect the financial statements. For example, Lockheed Martin issued the

54、following disclosure about "Accounting for Design, Development and Production Contracts":</p><p>　　Products and services provided under long-term design, development and production contracts make u

55、p the majority of our business. Therefore, the amounts we record in our financial statements using contract accounting methods and cost accounting standards are material. Because of the significance of the judgments and

56、estimation processes, it is likely that materially different assumption could he recorded if we used different assumptions or if the underlying circumstances were to change. For exam</p><p>　　Postenmloyment

57、Benefits</p><p>　　Income Taxes</p><p>　　Impairment of Intangibles</p><p><b>　　Other</b></p><p>　　Revenue Recognition</p><p>　　Bad-Debt Reserves

58、</p><p>　　Investments and Financial Instruments</p><p><b>　　Insurance</b></p><p>　　Impairment</p><p><b>　　Inventory</b></p><p>　　Sa

59、les and Purchase Allowances</p><p>　　Stock-based Compensation</p><p>　　Impairment of Tangibles</p><p>　　Acquisition and Consolidation</p><p>　　Derivatives and Securitiz

60、ation</p><p>　　Warranty Costs</p><p>　　Restructuring Costs</p><p>　　Long-term Contracts</p><p>　　Depreciation and Amortization</p><p>　　Investments in Leas

61、es</p><p>　　Environmental</p><p>　　Deferred Policy Acquisition Costs</p><p>　　Oil and Gas</p><p>　　Entertainment</p><p>　　Other Postemployment Benefits<

62、/p><p>　　Frequent-Flyer and Membership</p><p>　　Asset Retirement Obligation</p><p>　　Critical Accounting Policies Reported</p><p>　　Source：Mark P.Holtzman. Reporting Criti

63、cal Accounting Policies[J].THE CPA JOURNAL,2007：42-44</p><p><b>　　譯文：</b></p><p><b>　　重要會計政策的報告</b></p><p>　　當準備財政決算時，會計人員不可避免地做出許多會計估計和政策決策。他們必須選擇長期資產(chǎn)的折舊年限，

64、選擇一個存貨成本計算方法，做關(guān)于退休金的假定，并且做許多評斷。當它運用于身邊的問題時，這些會計評估將被實體的會計政策驅(qū)使。這些決定有可能嚴重影響公司的財務(wù)報表以及用戶如何了解一個公司的業(yè)績和財務(wù)狀況。</p><p>　　出于這個原因，美國證券交易委員會要求公司報告“重要會計政策”作為管理討論與分析（MD＆A）的一部分。美國證券交易委員會已發(fā)出許多關(guān)于公司的重要會計政策的評論信件，表明他們的重要性。以下便是美國證

65、券交易委員會的要求概述，并提出關(guān)于重要會計政策的規(guī)則，以及大型企業(yè)關(guān)于目前做法的調(diào)查。</p><p>　　2003年12月，美國證券交易委員會公布的FR-72，“解釋說，在委員會的指導(dǎo)下進行了對財務(wù)狀況和經(jīng)營業(yè)績管理的討論與分析”。這涉及許多不同領(lǐng)域的管理討論與分析，其中包括重要的會計估計。美國證券交易委員會的解釋對重要的會計估計的具體定義如下：“估計或假設(shè)，其中[1]估計或假設(shè)的實質(zhì)是由于主觀判斷必須要考慮高

66、度不確定性的事項或該事項的敏感性 [2]這個估計或假設(shè)對財務(wù)狀況或經(jīng)營業(yè)績的影響是重大的?！?lt;/p><p>　　該規(guī)則規(guī)定在財務(wù)報告開頭的注釋中由MD&A提供重要的會計估計的說明必須根據(jù)會計原則委員會（APB）的第22條意見和美國注冊會計師協(xié)會的聲明（SOP）94-6。MD＆A里披露的，應(yīng)提供更深入的質(zhì)量和在資產(chǎn)負債表和損益表信息變異的見解。此外，應(yīng)分析披露會計原則在運用所涉及的不確定性，或變異可能導(dǎo)致

67、其隨著時間的推移的應(yīng)用。</p><p>　　會計師應(yīng)解釋為什么重要的會計估計會承擔變更的風(fēng)險。此外，他們還應(yīng)解釋怎樣得出這個估計，過去怎樣精確估計或怎樣假設(shè)，過去的估計和假設(shè)發(fā)生了怎樣的變化，這些估計和假設(shè)在未來是否可能會發(fā)生合理地變化。定量的信息是有效的，會計師應(yīng)根據(jù)合理的結(jié)果來量化敏感度。</p><p>　　美國證券交易委員會的規(guī)則提案</p><p>　　

68、在2002年5月，在上述解釋發(fā)行前，證券交易委員會發(fā)布了一項規(guī)則?！肮芾碛懻摰呐逗完P(guān)于重要的會計政策的應(yīng)用的分析”。這項規(guī)則提供了比在最后定案的規(guī)則上發(fā)行任何修正的建議最后定案的規(guī)則的意見。而且，證券交易委員會對公司財務(wù)的最新的現(xiàn)行的會計披露問題(2006年11月30日)沒有提到重要的會計政策。</p><p>　　這項規(guī)則重新定義為重要會計政策的標準：1）至關(guān)重要的會計估計需要公司對高度不確定的事情做出假設(shè)；

69、2）在當前的時間交替估計，估計的變化可能會在未來期間對公司提交的公司財務(wù)狀況的介紹及其變化或經(jīng)營成果產(chǎn)生實質(zhì)性影響。</p><p>　　這項規(guī)則設(shè)置一個額外的對每個估計數(shù)的信息披露。公司必須解釋財務(wù)報表上每個重要會計估計的意義，個別財務(wù)報表項目也需要解釋。此外，這項規(guī)則要求量化財務(wù)報表，披露會計估計的變更和歷史變遷，在過去三年里公司的重要會計估計（小企業(yè)為二年），公司還必須解釋這些變化的原因。</p>

70、;<p>　　對于會計政策的初步應(yīng)用，公司將被要求作出以下說明：1）引起政策采用的事件或交易； 2）采用的會計原則和方法；3）定性的分析采用的會計政策對財務(wù)報表的影響。如果有一個可以接受的會計原則可供選擇，公司將不得不找出辦法來說明它為什么做了這樣的選擇。在現(xiàn)有會計的不尋常處理情況下，公司必須解釋其關(guān)于初次采用政策的決定。</p><p>　　這項規(guī)則隱含地區(qū)別于重要的會計政策估計。政策是行動的計劃

71、，用來指導(dǎo)未來的決策，而估計是編制財務(wù)報表時作出的個別決定。公司必須披露有關(guān)新政策的初步采用信息。但是，新的估計可能需要與每一套新的財務(wù)報表連起來考慮。</p><p>　　根據(jù)建議，申報者將被要求披露是否與審核委員會討論過公司的重要會計估計。他們不需要公開討論的性質(zhì)。</p><p>　　公司設(shè)有多個部門，必須對重要會計政策的影響進行鑒定。除了整個公司的重要的會計信息披露，公司必須討論每

72、一個部門的重要會計政策。</p><p>　　該規(guī)則還提出了一個要求獨立審計管理討論與分析的意見。這將要求公司提供季度的重要會計估計的資料，包括新發(fā)現(xiàn)的重要會計估計及其他重大變化，這樣將會使過時或誤導(dǎo)的披露得到補償。該規(guī)則不會要求公司每季度更新敏感性分析。外國私人發(fā)行人必須滿足這些相同的重要會計政策披露的要求。小企業(yè)將大大降低披露要求?，F(xiàn)有的避風(fēng)港將適用于有遠見的信息。</p><p>　

73、　在準備重要會計政策披露時，會計師會發(fā)現(xiàn)美國證券交易委員會的解釋（FR- 72）缺乏有用的說明。即使美國證券交易委員會還沒有采取行動，會計師也應(yīng)閱讀并考慮使用一個更具體的規(guī)則來作為指導(dǎo)。</p><p><b>　　目前的做法</b></p><p>　　筆者回顧了從財富500強中選取的前100家上市公司的年度報告。筆者分析了2005年12月31日到2006年12月3

74、0日期間的年度公開文件。</p><p>　　三個會計問題主導(dǎo)公司的重要的會計政策披露：減值，養(yǎng)老金和所得稅。如圖表1所示，100家公司中有39家報告關(guān)于無形資產(chǎn)減值的會計政策，有25家報告一般的減值的會計政策，14家報告有形資產(chǎn)的減值的會計政策。另外六家報告了關(guān)于租賃資產(chǎn)的剩余價值的會計政策。關(guān)于就業(yè)后的好處，64家公司報道重要的會計政策，這些公司中有兩家報道額外的關(guān)于雇員福利的會計政策。關(guān)于所得稅會計，56家

75、公司報道重要的會計政策</p><p>　　100家公司的會計政策報告中的有許多類型，如圖表1所示。四十四家公司報道了關(guān)于意外事件的會計政策選擇，32家報到了關(guān)于稅收的政策，32家報道了關(guān)于壞帳準備的政策。30家公司報道了關(guān)于投資和金融工具的政策，24家報道了關(guān)于存貨的政策。</p><p>　　特定行業(yè)的一些會計政策披露。保險公司的索賠報告是一個重要的會計政策。大多數(shù)零售商和零售供應(yīng)商處

76、理銷售折讓；石油和天然氣公司的會計報告；娛樂公司報告的娛樂資產(chǎn)資本化。</p><p>　　公司平均在管理討論與分析中報告5.6個重要的會計政策。相比之下，財務(wù)執(zhí)行官研究基金會在過去的研究報告中顯示，每家公司平均報告6.1個重要的會計政策。（作者，2002年MD＆A里披露述評：重要的會計政策）。最少的是投資銀行，它只報告了兩個重要的會計政策，但該公司的信息披露的篇幅很長，內(nèi)容也非常細。 重要的會計政策的報告數(shù)最高

77、的是雜貨店，它報告了11個。</p><p>　　許多公司提供了非常詳細的披露。例如，福特汽車公司的有關(guān)退休福利的披露（會計年度結(jié)束日2005年12月31日）。本披露表明，管理層認為，退休福利是公司會計所管轄的一部門，而在特定的假設(shè)條件下福特的收入和財務(wù)狀況是非常敏感的。福特詳細地解釋說，這是估計和假設(shè)的需要。此外，分析表明，例如，貼現(xiàn)率減少一個百分點將增加6330百萬美元，費用則達到5.3億美元。</p&

78、gt;<p>　　福特汽車公司的例子還說明了有關(guān)報告中的政策的許多重要概念。首先，會計師應(yīng)該使用簡單的陳述句寫一些簡單的英語披露。應(yīng)使用被動語態(tài)，而不是主動語態(tài)。應(yīng)避免使用復(fù)雜的單詞，使用簡單的就可以了。為了理清思路結(jié)構(gòu)，可以使用格式化工具。</p><p>　　理想的情況下，會計政策披露應(yīng)該解釋為什么這個估計是必要的，強調(diào)有必要的判斷和各方面固有的不確定因素。例如，根據(jù)百思買集團，“我們的減值損失

79、計算包含著不確定性，因為它們需要管理層做出假設(shè)，然后運用判斷來估計未來現(xiàn)金流量和資產(chǎn)的公允價值，其中包括預(yù)測資產(chǎn)使用年限和選擇的折現(xiàn)率，以反映在未來的現(xiàn)金流量風(fēng)險?！保?006年2月25日）。</p><p><b>　　根據(jù)聯(lián)合國技術(shù)：</b></p><p>　　為評估跌價準備的需要，我們估計未來應(yīng)納稅所得額，考慮到正在進行的稅收籌劃策略的可行性及稅務(wù)虧損扣抵的實

80、現(xiàn)性。有關(guān)遞延稅項資產(chǎn)備抵評價會受到稅收法律的影響，會改變法定稅率和未來的應(yīng)納稅所得。倘若我們要確定我們將來能否實現(xiàn)全部或部分的遞延所得稅資產(chǎn)，我們將減少這期間的賒銷收入。反過來說，如果我們要確定我們將能夠?qū)崿F(xiàn)在未來的凈賬面值超出我們的遞延所得稅資產(chǎn)，我們將通過減少在此期間增加的收入。隨后記錄企業(yè)合并相關(guān)的稅收優(yōu)惠作為商譽調(diào)整項目。(www.sec.gov)</p><p>　　披露應(yīng)該描述一下這個公司的會計。例

81、如，德爾福公司解釋它如何估計未來現(xiàn)金流量進行長期資產(chǎn)的減值測試時：“我們估計現(xiàn)金流量，是利用最近的銷售數(shù)據(jù)，對獨立的汽車生產(chǎn)量的估計和對客戶的承諾，并協(xié)商輸入的內(nèi)部預(yù)算”。（2005年12月31日）</p><p>　　公司應(yīng)當為每個重要的會計領(lǐng)域的提供敏感性分析，如何量化不同的估計可能會影響到財務(wù)報表。例如，洛克希德馬丁公司發(fā)出的關(guān)于“為設(shè)計、開發(fā)和生產(chǎn)合同會計”披露如下：產(chǎn)品的長遠設(shè)計，開發(fā)和生產(chǎn)合同提供的服

82、務(wù)構(gòu)成了我們的大部分業(yè)務(wù)。因此,我們在財務(wù)報表中記錄的金額使用合同成本會計核算方法和標準的材料。由于判斷和估計程序的意義很可能大不相同，所以如果我們使用不同的假設(shè)或者基本假設(shè)變了，就會出現(xiàn)不同的記錄結(jié)果。例如，如果基本假設(shè)變了，這樣我們估計的利潤在所有設(shè)計、開發(fā)和生產(chǎn)合同完工時會高于或低于1％，公司的凈盈利將會增加或減少約1.9億美元。當收入或成本估算合同調(diào)整時，先前估計的任何更改都包括在當期收入。（2005年12月31日）</p

83、><p><b>　　雇員好處</b></p><p><b>　　所得稅</b></p><p><b>　　無形資產(chǎn)減值</b></p><p><b>　　其他</b></p><p><b>　　收入確認</b&

84、gt;</p><p><b>　　壞帳準備金</b></p><p><b>　　投資及金融工具</b></p><p><b>　　保險</b></p><p><b>　　減值</b></p><p><b>　　庫

85、存</b></p><p><b>　　銷售和購買津貼</b></p><p><b>　　基于股票的補償</b></p><p><b>　　有形資產(chǎn)減值</b></p><p><b>　　收購及合并</b></p><

86、p><b>　　衍生工具及證券化</b></p><p><b>　　保修成本</b></p><p><b>　　重組成本</b></p><p><b>　　長期合同</b></p><p><b>　　折舊及攤銷</b>&

87、lt;/p><p><b>　　投資租賃</b></p><p><b>　　環(huán)境</b></p><p><b>　　遞延保單獲得</b></p><p><b>　　成本</b></p><p><b>　　石油和天然氣&

88、lt;/b></p><p><b>　　娛樂</b></p><p><b>　　其他退休福利</b></p><p><b>　　飛行常客和成員</b></p><p><b>　　資產(chǎn)報廢的義務(wù)</b></p><p>