外文翻譯--公允價(jià)值會計(jì)的危機(jī)正確理解最近的辯論

1、畢 業(yè) 設(shè) 計(jì)（論 計(jì)（論 文）外 文）外 文 參 考 資 料 及 譯 文譯文題目： 譯文題目： 公允價(jià)值會計(jì)的危機(jī): 正確理解最近的辯論 學(xué)生姓名： 學(xué)生姓名： 學(xué) 號： 號： 專 業(yè)： 業(yè)： 會計(jì)學(xué) 所在學(xué)院： 所在學(xué)院： 商學(xué)院

2、 指導(dǎo)教師： 指導(dǎo)教師： 職 稱： 稱： 講師 2013 年 3 月 10 日Critics argue that FVA, often also called mark-to-market accounting (MTM),1has significantly contributed to the finan

3、cial crisis and exacerbated its severity for financial institutions in the U.S. and around the world.2On the other extreme, proponents of FVA argue that it merely played the role of the proverbial messenger that is now b

4、eing shot (e.g., Turner, 2008; Veron, 2008).3In our view, there are problems with both positions. FVA is neither responsible for the crisis nor is it merely a measurement system that reports asset values without having e

5、conomic effects of its own.In this article, we attempt to make sense of the current fair-value debate and discuss whether many of the arguments in this debate hold up to further scrutiny. We come to the following four co

6、nclusions. First, much of the controversy about FVA results from confusion about what is new and different about FVA as well as different views about the purpose of FVA. In our view, the debate about FVA takes us back to

7、 several old accounting issues, like the tradeoff between relevance and reliability, which have been debated for decades. Except in rare circumstances, standard setters will always face these issues and tradeoffs; FVA is

8、 just another example. This insight is helpful to better understand some of the arguments brought forward in the debate. Second, there are legitimate concerns about marking asset values to market prices in times of finan

9、cial crisis once we recognize that there are ties to contracts and regulation or that managers and investors may care about market reactions over the short term. However, it is not obvious that these problems are best ad

10、dressed with changes to the accounting system. These problems could also (and perhaps more appropriately) be addressed by adjusting contracts and regulation. Moreover, the concern about the downward spiral is most pronou

11、nced for FVA in its pure form but it does not apply in the same way to FVA as stipulated by U.S. GAAP or IFRS. Both standards allow for deviations from market prices under certain circumstances (e.g., prices from fire sa

12、les). Thus, it is not clear that the standards themselves are the source of the problem.However, as our third conclusion highlights, there could be implementation problems in practice. It is important to recognize that a