公允價(jià)值會(huì)計(jì)方面的最新進(jìn)展【外文翻譯】

1、外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯原文：RecentDevelopmentsinFairValueAccountingSFAS157FairValueMeasurementswhichbecameeffectiveinJanuary2008definesfairvalueprovidescomprehensiveimplementationguidancefapplyingittoassetsliabilitiesfmeasurementunde

2、rGAAP.Sincethenthemeltdownoffinancialmarketsadeepeningrecessionhaveledtoareappraisaloffairvalueaccounting.Criticsarguethatthefairvalueaccountingcommonlycalledmarktomarketaccountinghasexacerbatedthecrisisbyrequiringsignif

3、icantwritedownofassetsresultinginsharpdecreasesinregulatycapitalofbanksotherfinancialinstitutions(seeWilliamIsaac“HowtoSavetheFinancialSystem”WallStreetJournalSeptember192008JohnBerlau“MaybetheBanksAreJustCountingWrong”W

4、allStreetJournalSeptember202008GaryGton“ThePanicof2007”YaleICFWkingPaperNo.0824abstract=1255362).ThecrisisledtoswiftunprecedentedactionsfromtheTreasuryDepartmenttheFederalReserveCongressincludingthe$700billionTroubledAss

5、etsReliefProgram(TARP)tohelpfinancialinstitutions.InOctober2008CongresspassedtheEmergencyEconomicStabilizationActauthizingtheSECtosuspendSFAS157fsomeissuerscertaintransactionsindertoprotectinveststhepublicinterest.Theact

6、alsodirectedtheSECtostudythestard’simpactonfinancialinstitutions’balancesheetsonbankfailuresaswellastosuggestalternativeaccountingstards.FASBsoonissuedthreeStaffPositions(FSP)—FSPFAS1574“DeterminingFairValueWhentheVolume

7、LevelofActivityftheAssetLiabilityHaveSignificantlyDecreasedIdentifyingTransactionsThatAreNotderly”FSPFAS1071APB281“InterimDisclosuresAboutFairValueofFinancialInstruments”FSPFAS11521242“RecognitionPresentationofOtherThanT

8、emparyImpairments”—aspartofitsresponsetotheconcernsrelatedpricesarenotcurrentthemarketsmaybedeemedinactive.ThefairvaluemeasurementobjectivesofSFAS157shouldapplyequallytoinactiveactivemarkets.NeverthelessFSPFAS1573doesnot

9、define“inactive”whileitmentionsseveralfactssuchquotedpricesanalystreptsinterestratesbrokerquotestobeconsideredindeterminingfairvalueitprovidesnoguidanceastotheirrelativeimptancehowtoaggregatethem.Companiesthemshoulddeter

10、minewhetherthemarketfaparticularassetisinactiveonthemeasurementdateifsodecideonthenecessaryadjustmentsfobservableinputs.FSPFAS1573alsorequirestheconsiderationofnonperfmanceliquidityrisksinvaluation.Nonperfmanceriskrefers

11、toobligationsthattheliabilitywillnotbefulfilledliquidityriskreferstothebuyerfindingdifficultysellingtheassetundercurrentmarketconditions.Addingliquiditypremiumswhichcanbesubstantialininactivemarketsputsthefairvaluebackto

12、whatthemarketparticipantswillpayatthemeasurementdateessentiallyreflectinginactivedisderlymarkets.TheseshtcomingsledFASBtorescindFSPFAS1573inApril2009makingiteffectiveonlyfromthelastquarterof2008tothefirstquarterof2009.Th

13、eSEC’sDecember2008marktomarketaccountingstudyhadrecommendedthatFASBprovideadditionalguidancetoidentifyfceddistressedtransactionsinactivemarketsdeterminefairvalueundersuchconditions.InMarch2009theHouseFinancialServicesCom

14、mitteeheldahearingonmarktomarketaccountingwhereiturgedFASBtoactquicklyfacelegislativeintervention.TomeettheSECmatetoaddresstheconcernsexpressedatthehearinginApril2009FASBissuedFSPFAS1574.SupersedingFSPFAS1573FSPFAS1574be

15、cameeffectivefreptingperiodsendingafterJune152009shouldbeappliedprospectivelyasachangeinestimate.FSPFAS1574reiteratestheiginalSFAS157positionthatfairvalueisthepricethatwouldbereceivedtosellanassetpaidtotransferaliability

16、inanderly(notafcedliquidationdistressedsale)transactionbetweenmarketparticipantsatthemeasurementdateundercurrentmarketconditions.SFAS157stressedtheuseofobservable(Level1Level2)inputsthatdonotrequiresignificantadjustment.