通貨膨脹會(huì)計(jì)與非金融企業(yè)利潤(rùn)金融資產(chǎn)與負(fù)債【外文翻譯】

1、外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯原文：InflationAccountingNonfinancialCpateProfits:FinancialAssetsLiabilitiesJOHNB.SHOVENStanfdUniversityJEREMYI.BULOWMassachusettsInstituteofTechnologyTHISARTICLEisthesecondoftwocomplementarypapersbytheauthsconc

2、erninginflationaccountingnonfinancialcpateprofits.ThecompanionpiecewhichappearedinBPEA3.1975discusseddefinitionsofrealcpateprofitssuggestedasameaningfulattractivecidatetheaccrualofpurchasingpowerbyequityholders.Asecondde

3、finitionbasedontheconceptofmaintainingcapitalintactwaspresentedasanalternative.Thepaperassertedthateachbalancesheetentrywarrantsrestatementrelativetocurrentpracticeindertocomputerealprofitsprovideanaccuratedetailedpictur

4、eofthepositionofthefirminperiodsofinflationofadjustmentinrelativeprices.Theaccountingtreatmentofinventiesdepreciableassetswasexaminedindetailmicromacroestimatesweremadeoftheimpactofadoptingaccountingpracticesconsistentwi

5、ththetwodefinitionsofrealincomefbalancesheetentriesinvolvingphysicalassets.Thispaperontheotherhwillexaminetheaccountingpracticesfnominallydenominatedfinancialassetsliabilities.Italsowillaggregatesummarizetheresultsofthet

6、wopapers.Wetakecpateincome(profits)asameasureoftheincreaseinthe“economicpower”oftheequityholdersofthefirm.TobefullyconsistentwithaHaigSimonsaccrualdefinitionofincomeaswearguedinourpreviousstudydepreciableassetsinventiess

7、houldbecarriedonbalancesheetsattheircurrent(annual)inflowingstreamofoutput.Thisisgrossrealincome.Whenwhatisrequiredtomaintaincapitalintactissubtractedfromthisthereisleftrealincome.Thisdefinitionmakesabsolutelynoreference

8、tofinancialliabilities.Onecouldarguethattobeconsistentwiththeaccountingtreatmentofphysicalassetsunderthisconceptthefirm’sshtpositiononbondsshouldbehledwithaLIFOtypeprocedure.Thisfollowsthe“goingconcern”assumptionofaccoun

9、tantsitsbasicemphasisonrealization.Itimpliesthataccruedchangesinthemarketvalueofbondliabilitieswouldnotenterthecomputationofincome.Apossiblejustificationfthistreatmentisthatthefirmissueditsliabilitieswiththeirparticularc

10、ouponratesmaturitystructurebecauseitdesiredtheimpliedperiodizationofnominaldebtcostshadnointentionofrepurchasingprematurelyintheeventofrisinginterestrates.Theargumentisthatthefirmisinthebusinessofsellingnotbuyingsuchlong

11、termfinancialcontractsasbonds.Thispositionconflictswiththefactthatmanyfirmsdobuyouttheirdebtatdiscount.Againaswithphysicalassetsthefundamentalissueiswhetheranaccruedbutunrealizedgainshouldberecdedasincome.Whilecapitalmai

12、ntenanceincomeonthisinterpretationwouldnotreflectchangesinthemarketvalueoflongtermliabilitiesitwouldincludethedecreaseintherealburdenofnominalliabilitiesthataccompaniesinflation.Thiscrectionwhichamountstodeductingascosts

13、onlyrealnotnominalinterestpaymentswouldbemadewithbothrealincomeconceptsispartoftherefmofcpateaccountingproposedbytheFinancialAccountingStardsBoard(FASB).Theonlydifferenceisthatwiththepurchasingpoweraccrualconceptafirm’sl

14、iabilitypositionwouldbedeterminedusingmarketvalueswhilewiththecapitalmaintenanceconcepttheFASBproposalbookvalueswouldbeused.Presentaccountingpracticesffinancialliabilitiesintheincomestatementofnonfinancialcpationsarebase

15、donsimplecashflow.Theonlyreptingwithrespecttoretainedliabilitiesisthedeductionofnominalinterestpaid.ThusthetreatmentisnotconsistentwitheitherofthetworealincomeconceptswehavepresentedinparticulardiffersfromtheHaigSimonsco