公允價(jià)值會(huì)計(jì)【外文翻譯】

1、畢業(yè)論畢業(yè)論文（文（設(shè)計(jì)設(shè)計(jì)）文獻(xiàn)翻譯文獻(xiàn)翻譯原文：FairValueAccountingThesubjectoffairvalueaccountinghasbeendiscussedintheUnitedStatesfwelloveradecade.Advocatesoffairvalueaccountingbelievethatfairvalueisthemostrelevantmeasureffinancialrepting.Ot

2、hershoweverbelievethathisticalcostprovidesameusefulmeasurebecauseitmeclearlyrepresentstheeconomicsofbusinessperfmancebecausefairvalueestimatesmaynotbereliableverifiable.Sowhichismeappropriate—fairvaluehisticalcostLetmesh

3、arewithyoutheFederalReserve’slongstingpositiononthisissue.AsasupervisoftheU.S.bankingsystemwewanttoensurethatfinancialinstitutionsfollowsoundaccountingpoliciespractices.Wecontinuetosupptimprovedtransparencyenhancedfinanc

4、ialdisclosureswhichpromotemarketdisciplineprovideusefulinfmationtodecisionmakers.Wealsosupptfairvalueaccountingfassetsliabilitiesusedinthebusinessofshttermtradingfprofitsuchasthetradingaccountfbanks.wesupptenhanceddisclo

5、suresoffairvaluebasedinfmationaspartofbroaderdeionsofriskexposuresriskmanagement.Howeverwebelievethattheaccountingindustryshouldbeverycarefulbefemovingtowardamecomprehensivefairvalueapproachwhereallfinancialassetsliabili

6、tiesarerecdedonthebalancesheetatfairvaluechangesinfairvaluearerecdedinearningswhetherrealizednot.TheFASBrecentlyissuedaproposedstardonfairvaluemeasurementsthatprovidesageneralframewkfvaluingassetsliabilitiesthatarecurren

7、tlymeasureddisclosedatfairvalue.1Atthistimeitdoesnotexptheuseoffairvaluesintheprimaryfinancialstatements.IwouldliketosummarizesharewithyoutheFederalReserve’sviewsontheproposedstardwhichwereprovidedtoFASBinacommentlettera

8、spartoftheexposureprocess.2Weseetheproposalasagoodfirststeptowardenhancingmeasurementguidanceinthisarea.HoweverasIreplacementcostmethodswillimprovereliabilityoftheseestimates.Howeverthenumberofapproachesaddslittletorelia

9、bilityifallthemethodsarebasedonthesameunderlyinginfmationaswouldoftenbethecaseffinancialinstruments.Inourroleasabanksuperviswehaveobservedthatminchangesinanumberofassumptionsinapricingmodelcanhaveasubstantialeffect.Gener

10、allywearecomftablewiththefairvaluemeasurementprocessfliquidtradinginstrumentsthatfinancialinstitutionshavehadsignificantexperienceinvaluing.Howeverwebelievethatflessliquidassetsliabilitiesreliabilityisasignificantconcern

11、.2.ManagementBiasThefactthatmanagementusessignificantjudgmentinthevaluationprocessparticularlyflevel3estimatesaddstoourconcernsaboutreliability.Managementbiaswhetherintentionalunintentionalmayresultininappropriatefairval

12、uemeasurementsmisstatementsofearningsequitycapital.Thiswasthecaseintheovervaluationofcertainresidualtranchesinsecuritizationsinrecentyearswhentherewasnoactivemarketftheseassets.Significantwritedownsofoverstatedassetvalua

13、tionshaveresultedinthefailureofanumberoffinancecompaniesdeposityinstitutions.Similarproblemshaveoccurredduetoovervaluationsinnonbanktradingptfoliosthatresultedinoverstatementsofincomeequity.Thepossibilityfmanagementbiase

14、xiststoday.Wecontinuetoseenewsstiesaboutgesofearningsmanipulationevenunderthehisticalcostaccountingframewk.Webelievethatwithoutreliablefairvalueestimatesthepotentialfmisstatementsinfinancialstatementspreparedusingfairval

15、uemeasurementswillbeevengreater.3.VerificationAsthevarietycomplexityoffinancialinstrumentsincreasessodoestheneedfindependentverificationoffairvalueestimates.Howeververificationofvaluationsthatarenotbasedonobservablemarke