co-yqhxr公允價值會計

1、 我們II打敗了敵人。 我們II把敵人打敗了重慶理工大學文 獻 翻 譯二級學院會計學院班 級 0665-1學生姓名張璐 學 號 譯文要求1、譯文內容必須與課題（或專業(yè)）內容相關。2、 外文翻譯不少于1萬印刷符；外文參考資料閱讀量至少 3篇（相當于10萬印刷符以上）。3、譯文原文（或復印件）應附在譯文后備查。譯文評閱導師評語（應根據(jù)學校“譯文要求”，對學生外文翻譯的準確性、翻譯數(shù)量以及譯文的文字表述情況等作具體的評價）指導教師：公允價值會計原文摘自由比斯的言論 美國聯(lián)邦儲備理事會會員 對信用協(xié)會投資組合經(jīng)理大會上，11月18日，2004。早上好。我很榮幸能夠參加這次秋季會員大會報告。 正如我同事

2、在財務會計準則 委員會（FASB和國際會計準則委員會（IASB）的同意，公允價值會計構成和許多的 挑戰(zhàn)，引發(fā)了重大的行業(yè)辯論公平價值會計題目已解散在美國倔強已逾 10年。公允價值會計的支持者認為，公平價值是最相關的財政措施報告。 然而，其他人 認為，歷史成本提供了更有益的措施，因為它更清楚的經(jīng)濟業(yè)務表現(xiàn)和公正的價值， 因為估計不一定可靠或驗證。因此，哪一種會比較恰當？公允價值或歷史成本？我想與大家分享的聯(lián)邦儲備的 長期在這個問題上的立場。作為一位美國銀行系統(tǒng)的管理者，我們要為確保金融機構 采取健全會計政策和做法。我們繼續(xù)支持提高透明度和加強經(jīng)濟信息的披露，旨在促 進市場紀律并提供有用的信息決策

3、者。我們還支持資產(chǎn)和公允價值會計在短期負債交 易業(yè)務使用利潤，如銀行交易賬戶。而且我們支持增強的公允價值披露的信息的風險 更廣泛的描述部分風險和風險管理。 但是，我們認為，會計行業(yè)應該是很謹慎地向更 便于理解的公允價值概念切近，所有的金融資產(chǎn)負債記錄在資產(chǎn)負債表內按公允價值 和公允價值變動都記錄在收入，無論實現(xiàn)與否。財務會計準則委員會最近發(fā)表了一份關于提議標準公允價值計量，提供一般框架估價資產(chǎn)及負債前測量或按公允價值披露。1、在這當時，它不擴大公允價值的使用主要財務報表。我想在這里總結并與您 分享美國聯(lián)邦儲備委員會的意見擬議標準，提供給在財務會計準則委員會的意見函的 接觸部分的過程。2、我們認

4、為，作為一個良好的開端建議加強對計量在這方面的指導。不過，正 如我現(xiàn)在所討論的，大量重要的問題值得進一步審議，尤其在對增加公允價值會計做 出戲劇性的舉動之前。但是在討論這些具體問題之前讓我必須強調一點： 作為銀行上司，美國聯(lián)邦儲備 委員會認為，創(chuàng)新在繼續(xù)改善我們的金融體系， 改善風險管理是非常重要的。新的方 法和金融工具允許銀行組織改進其風險管理， 通過選擇的風險承擔和目標水平脫落或 限制不想要的位置。會計框架應提高透明度，圍繞商業(yè)決策和為市民提供一個更好的 風險管理的主題。公允價值計量問題值得進一步思考：可靠性和測量假如市場是具有流動性的，以及所有資產(chǎn)和負債都具有透明度， 公允價值會計顯 然

5、會在決策過程依靠可靠有用的信息然而，由于許多資產(chǎn)和負債沒有一個活躍的市 場，對估計公平價值的投入和方法比較主觀，因此，估值不可靠。美國聯(lián)邦儲備工作人員研究顯示，根據(jù)投入和估價方法使用，公允價值計量對銀 行貸款的估計可能相差很大。例如，公司債券及銀團貸款市場內觀察到較低評級的不 同類別的利率已多達200至500個基點。這種廣泛的范圍發(fā)生在當債務人匹配時， 高 級債券和貸款的情況下。關于擬議的公允價值標準的財務會計準則委員會的聲明表明， 如果市場投入使用 的估價則可靠性將大大增強但是，由于管理使用在選擇市場投入的市場價格時， 沒有 重大判斷，可靠性將繼續(xù)是一個問題。該提案確定了三個層次的估計，應以

6、最低的一一第三級優(yōu)先估計。這些估計數(shù)是 沒有根據(jù)活躍市場報價的相同或類似的資產(chǎn)或負債，而是盯模型的預測。該提案建議， 如市場，收入的使用，多種途徑和更換費用的辦法，將改善這些估計的可靠性。然而, 一些辦法的可靠性多大影響，如果所有方法都在相同的基礎資料為基礎， 因為往往是 金融工具的情況。在我們作為一家銀行的監(jiān)管機構， 我們注意到，在一些小的改動若干假設在一個 定價模式可以有實質影響。一般來說，我們是滿意的公允價值液體的貿(mào)易， 金融機構 在評估有重要的經(jīng)驗儀器測量過程。但是，我們認為，較低的資產(chǎn)和負債的流動性， 可靠性是一個重要的問題。Fair Value Acco un ti ngAdapt

7、ed from remarks by Susa n Schmidt Bies,Member, Board of Gover nors of the Federal ReserveSystem, to the International Association of CreditPortfolio Man agers Gen eral Meet ing, November 18, 2004.Good mornin g. I appreciate the opport un ity to participate in your Fall Gen eral Meeting. As my collea

8、gues at the Financial Accounting Standards Board (FASB) and the Intern atio nal Acco unting Sta ndards Board(IASB) will agree, fair value acco un ti ng poses many challe nges and has sparked sig nifica nt in dustry debate.The subject of fair value acco unting has bee n discussed in the Un ited State

9、s for well over a decade. Advocates of fair value acco unting believe that fair value is the most releva nt measure for finan cial report ing. Others, however, believe that historical cost provides a more useful measure because it more clearly represe nts the econo mics of bus in ess performa nee an

10、d because fair value estimates may not be reliable or verifiable.So, which is more appropriate fair value or historical cost? Let me share with youthe Federal R eserves longanding positi on on this issue. As a supervisor of the U.S.banking system, we want to en sure that finan cial in stituti ons fo

11、llow sound acco un ti ng policies and practices. We continue to support improved tran spare ncy and enhan ced finan cial disclosures, which promote market discipli ne and provide usefulin formati on to decisi on makers. We also support fair value acco unting for assets and liabilities used in the bu

12、s in ess of short-term tradi ng for profit, such as the trad ing acco unt for ban ks. And we support enhan ced disclosures of fair-value-basedin formati on as part of broader descriptio ns of risk exposures and risk man ageme nt. However, we believe that the acco un ti ng in dustry should be very ca

13、reful before moving toward a more comprehensive fair value approach, where all financial assets and liabilities are recorded on the balance sheet at fair value and changes in fair value are recorded in earnin gs, whether realized or not.The FASB recently issued a proposed standard on fair value meas

14、urements that provides a general framework for valuing assets and liabilities that are currently measured or disclosed at fair value.s views1. At this time, it does not expand the use of fair values in the primary financial statements. I would like to summarize and share w ith you the Federal Reserv

15、eon the proposed standard, which were provided to FASB in a comment letter as part of the exposure process.2. We see the proposal as a good first step toward enhancing measureme nt guida nce in this area. However, as I will discuss in a mome nt, a nu mber of importa nt issues warra nt further con si

16、derati on, especially before dramatic moves are made toward in creased fair value acco unting.But before discuss ing these specific issues, allow me to emphasize one importa nt point. As a bank supervisor, the Federal Reserve believes that innovations in risk man ageme nt are very importa nt to the

17、con ti nued improveme nt of our finan cial system. New methods and finan cial in strume nts allow banking orga ni zati ons to improve their risk-ma nageme nt practices by selecti ng target levels of risk exposures and shedd ing or limit ing unwan ted positi ons. Acco un ti ng frameworks should impro

18、ve tran spare ncy around bus in ess decisi ons and outcomes without providi ng a dis incen tive to better man ageme nt of risk.FAIR VALUE MEASUREMENT ISSUES THAT WARRANT FURTHER CONSIDERATIONReliability and Measureme ntIf markets were liquid an d tran spare nt for all assets and liabilities, fair va

19、lue accounting clearly would be reliable information useful in the decision making process. However, because many assets and liabilities do not have an active market, the in puts and methods for estimat ing their fair value are more subjective and, therefore, the valuati ons less reliable.Research b

20、y Federal Reserve staff shows that fair value estimates for bank loa ns can vary greatly, depe nding on the valuati on in puts and methodology used. For example, observed market rates for corporate bonds and syn dicated loa ns within lower rated categories have varied by as much as 200 to 500 basis

21、poin ts. Such wide ran ges occur eve n in the case of senior bonds and loa ns whe n obligors are matched.The FASB stateme nt on the proposed fair value sta ndard suggests that reliability can be sig nifica ntly enhan ced if market in puts are used in valuati on. However, because man ageme nt uses si

22、g nifica nt judgme nt in select ing market in puts whe n market prices are not available, reliability will continue to be an issue.The proposal identifies three levels of estimates, with the lowest priority given to level-3 estimates. These estimates are not based on quoted prices in active markets for either identical or similar assets or liabilities, but rather on mark-to-model estimates. The proposal suggests that th