經(jīng)濟(jì)風(fēng)險(xiǎn)和會計(jì)風(fēng)險(xiǎn)【外文翻譯】

1、外文文獻(xiàn)翻譯譯文外文文獻(xiàn)翻譯譯文原文：EconomicExposureAccountingExposureAccountingexposuretranslationexposuremeasureshowtheconsolidatedfinancialstatementsaccountsofanMNCwillbeaffectedbyexchangeratefluctuations.Accountingexposuredoesnotdire

2、ctlyaffectcashflowshowever.ManagementofaccountingexposureisconcernedwiththepotentialimpactstockmarketimplicationsofconsolidatedfinancialaccountsarisingfromthetranslationoftheaccountsitemsoftheMNC.Theuseofaccountingmethod

3、shasaneffectonthedegreeofaccountingexposureaswellasthesizeactivityoffeignsubsidiaries.InthefollowingweintroducefouraccountingmethodsftranslatingtheaccountsaccountsitemsofafeignsubsidiaryofaMNCtheireffectsontheconsolidate

4、daccountsoftheMNC–thecurrentratemethodthetempalmethodthemoarynonmoarymethodthecurrentnoncurrentmethod.Thecurrentratemethodisthesimplest–allfinancialstatementitemsaretranslatedatthecurrentexchangerateexceptequityitems.Ass

5、etsliabilitiesaretranslatedattherateofexchangeineffectonthebalancesheetdate.Incomestatement1itemsaretranslatedateithertheactualexchangerateonthedatesthevariousrevenuesexpensesgainslosseswereincurredataweightedaverageexch

6、angerateftheperiod.Distributionsofdividendsaretranslatedattherateineffectonthedateofpayment.Equityitemsaretranslatedatthehisticalrateineffectwhentheitemwasfirstrecdedontheaccount.Gainslossesfromtranslationareclosedtoaneq

7、uityreserveaccountcalledthecumulativetranslationadjustment(CTA)willnotappearintheMNC’sconsolidatedincomestatementunlessthefeignsubsidiaryincurringthegainlossisliquidated.ThebalancesheetwillalwaysbebalancedbytheCTAwiththi

8、stranslationmethod.1TheincomestatementreferstotheprofitlossaccountintheUK.Balancesheetitemsaretranslatedatthecurrentexchangerateiftheyarecarriedontheaccountsattheircurrentvalue.Itemsthatarecarriedontheaccountsathisticalc

9、ostsaretranslatedatthehisticalexchangeratesineffectatthetimetheitemswererecdedontheaccounts.Thistreatmentmeansthatinmostcasesthetempalmethodofcurrencytranslationissimilartothemoarynonmoarymethodexceptthatthetranslationof

10、inventyisthesameasunderthecurrentnoncurrentmethod.Thedifferencesinthesetranslationmethodslieinhowtodeterminewhichfeigncurrencydenominatedassetsliabilitieswillbetranslatedatthecurrentexchangeratewhichwillbetranslatedatthe

11、histicalexchangerate.Thecurrentexchangerateispostchangeexchangeratethehisticalexchangerateisprechangeexchangerate.Soitemstranslatedatthecurrentexchangerateareexposedtofeignexchangeriskintheaccountingconceptmeasurewhereas

12、itemstranslatedatthehisticalexchangeratearenotexposedtofeignexchangerisk.Accountingexposureisindeedtheexposureofassetsliabilitiesi.e.thedifferencebetweenexposedassetsexposedliabilitieswhichvarieswiththetranslationmethoda

13、dopted.Underthecurrentratemethodallassetsliabilitiesasregardedasexposed.Underthecurrentnoncurrentmethodonlycurrentassetsliabilitiesareexposed.Underthemoarynonmoarymethodonlymoaryassetsliabilitiesareexposed.Underthetempal

14、methodassetsliabilitiesvaluedatthecurrentcostareexposedassetsliabilitiesvaluedatthehisticalcostarenotexposed.Followingisacaseillustratingthefourtranslationmethods.Table16.2isthebalancesheetofaUSsubsidiaryofaDutchMNC.Fixe

15、dassetslongtermdebtcommonstockwereacquiredatthehisticalexchangerateof$0.9€.Inventywaspurchasedoveraperiodwhentheaverageexchangeratewas$1.0€.Theaverageexchangeratein2003wasalso$1.0€.Howevertokeepthecasesimplyretainedearni