公允价值会计外文文献翻译财务2014年译文3200字Word格式文档下载.docx
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公允价值会计外文文献翻译财务2014年译文3200字Word格式文档下载.docx
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finance,2014,19(3):
577-605s
(声明:
本译文归百度文库所有,完整译文请到百度文库。
)原文
Theinfluenceoffairvalueaccountingonthebankingindustry
Abstract
BarthME,LandsmanWR
Sincetheeightiesofthetwentiethcentury,FASBandIASBdecidedtosparenoefforttopromotetheapplicationofthefairvalueinaccountingstandardsinordertoreducethefinancialrisksfromFinancialderivatives.However,bankingandfinancial
regulatoryauthoritieshavequestionedthereliabilityoffairvalue.Inaddition,theyhavethoughtthattheapplicationofthefairvaluewillincreasethevolatilityoffinancialsituationandbusinessperformance;
andthen,itcanaffectthestabilityoffinancialsystem.In2007,theoutbreakofsub-primemortgagecrisismadefairvaluebecomeahottopic.Basiceconomictheoryusingfairvalueaccountingforfinancialinstitutionsforfinancialreportprovidesareasonablebasis(Heatonetal.,2010).Theso-calledFairValue(FairValue)isintheprocessoftradingassetsorliabilities,familiarwiththemarketsituationofthevoluntaryexchangeassetsordebtliquidationidentifiedprice.Asarelativelynewmeasurementmodel,fairvaluecanprovidemorereal-time,usefulinformationtomarketparticipants,andthusmorevaluable.
Keywords:
Fairvalue;
Banking;
Financialinstruments.
1Introduction
Inthetraditionaleconomicenvironment,historicalcosthasbeeninaleadingposition.Inexternalmarketpriceisrelativelystable,cangenerallyaccompaniedbyrisksandrewardsofcompletetransferdeals,thehistoricalcost,despiteofitsrationality.Andfinancialaccountingemphasizesthefiduciaryresponsibility,paymoreattentiontothereliabilityoftheaccountinginformationauthenticity,historical
costmeasurementcanmeetthedemandofthiskindofinformationtoacertainextent.Historicalcostmeasurement,however,isnotperfect,beganinthelate60sinflation,saidwithnominalcurrencynon-monetaryassetscontinuetorise,themarket
priceofthebookvalueismuchlowerthanmarketprice,therefore,onthebasisofthehistoricalcostfinancialstatementstodistorttherealperformanceofenterprisemanagement.Throughfurtherresearch,pointsoutthatafterthe1980sduetotherapiddevelopmentofthefinancialinstruments,financialassetsandfinancialliabilitiesofpricefluctuationsisveryintense,onthebasisofthehistoricalcostmeasurementmodelcan'
treflectthemarketfluctuationscausedbypricefluctuations,therefore,fairvalueaccountingarisesatthehistoricmoment.Inaddition,fromthefiduciarydutytodecision-makingusefulaccountingtargetalsocreateconditionsfortheemergenceofthefairvaluemeasurement.
Differentaccountingobjectivesisdifferenttotherequirementofmeasurement,the decision-making useful concept requires fair value,the historical costmeasurementandtheconceptoffiduciarydutyrequirement.Aboutthecausesofthefairvalueaccounting,manyscholarsbelievethatfairvaluetotheattentionoftherelevanceofaccountinginformationqualityisthemain reason.Thisisbecause,theusefulnessofaccountinginformationisafunctionofrelevanceandreliability.Differentusersofaccountinginformationundertheenvironmentofthereisadifferenceontherelevanceandreliabilityrequirements.Wheninterestratesandassetvaluessteady,thehistoricalcostcanbeonthepremiseofguaranteethereliabilityofmeettherelevantrequirements.Withthedevelopmentofknowledgeeconomyandtheapplicationoffinancialinstruments,interestrateandassetvaluesestablishedstablethisassumptionisnolonger,thecorrelationofaccountinginformationusersofaccountinginformationdemand.
2Inthebankingindustryfacedbytheuseoffairvalueaccountingproblems
Theapplicationoffairvalueaccountinginthebankingsectorafterafromtabletotable,fromsimpletocomplex,fromaspecificfinancialinstrumentstotheentireprocess,sothatallassetsandliabilitiesoffinancialinstruments.Buttheapplicationoffairvalueaccountingisnotplainsailing,bankersandregulatorsstronglyopposedto
thefairvalueofsharplycriticizedtheshowtheshortcomingsinthepracticalapplication.Pointsoutthat,duetotheuseoffairvalueaccounting,financialinstrumentsduringthesurvivingcausedbychangesintheprofitandlossmaynotbeabletoprovideveryrelevantinformationmayevenusepersonnelmisleadingstatements.
Thisviewinthesubprimemortgagecrisisin2008for."
Apocalypseoftheussubprimecrisistoourcountrythearticlementionedthatusfinancialgiantsblamesaid,accordingtothefairvalueofasset-backedsecurities(ABS),mortgagebackedsecurities(MBS)andcollateraliseddebtobligation(CDO)measuredgrades:
debtprodu
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