通货膨胀对会计的影响【外文翻译】

1、外文文献翻译原文：INFLATION IN ACCOUNTINGINFLA?IA ?N CONTABILITATEAL?BETA SUH NYIOVa *In general, inflation represents decreaseof purchasing power of money. It is shown as increase in price level in production, consumption and investment area. In certain periods, nobody pays attention to inflation problem, b

2、ut on the other hand matter is not unnoticed. We can say, that discussion about this matter are continuous, when price level increase significantly. I analyzed in this article methods that are used in accounting for adjusting the effects of inflation. In example I compare alternative accounting meth

3、ods.Key words: Inflation, financial statements, measurement at historical costs, measurement at current cost, alternative inflation accounting methods.Considering inflation, we should mention that foreign authors frequently discuss about changes in price level. This term includes two categories of p

4、rice changes:? price changes in general price level,? price changes in specific items of assets.Slovak accounting standards does not treat with inflation problem in specific and complex way. But there are some exceptions. In case of receivable valued in inflationary currency, accounting entity refle

5、cts this fact by creating provision against receivable. Within the framework of international legal regulations International Financial Reporting Standards IAS/IFRS, in standard IAS 29 -Financial Reporting in Hyperinflationary Economies, state that financial statements prepared in hyperinflationary

6、currency without elimination of inflation are not useful. Money loses purchasing power at such a rate that comparison of amounts from transactions and other events that have occurred at different times, even within the same accounting period, is misleading. Application of this standard is a matter o

7、f judgment.One of accounting principles - valuation in historical costs (historical cost)- states that goods and services are valued at their original cost when transaction occurred. Financial statements in historical costs, called also as a financial statements under accounting method Historical Co

8、st/Nominal Dollar (HC/ND), are influenced during periods of significant inflations negatively due to decrease in purchase power of money. Effect of inflation is that the same amount of money in the financial statements could have different purchase power in different periods. This is not good for me

9、asurement of financial results. On the other hand, reporting in historical costs is more objective, because recorded values are stated based on transactions between parties trading in their own economic interest.There are more concepts of accounting, which are using price indices (based on category

10、of price change) for creation of complex financial systems to eliminate effects of inflation. Mentioned accounting systems represent alternatives to traditional accounting system - reporting in historical costs (HC/ND) without adjustments considering changes in price level.With regard to two types o

11、f changesin price level, there are two accounting systems described below:1、Constant Dollar Accounting - accounting of stable (constant) currency, or General Price - Level Adjusted Accounting - accounting considering changes in general price level.2、Current Cost Accounting - accounting of current co

12、st, or Current Value Accounting - accounting of current prices -measures current values of assets, liabilities and equity. It measures rather changes in specific prices of particular assets than changes in general price level.Mentioned distinguishing is important for understanding of alternatives of

13、 financial reporting.Based on described facts we can classify main principles of financial reporting, including normally used method HC/ND, as follows:Table 1: Matrix of alternative inflationary accounting methodsValuationValuation at historical costValuation at current costMeasurementatNominalDolla

14、rHistorical Cost / NominalDollar(HC/ND)Current Cost / NominalDollar(CC/ND)Measurement atConstantDollarHistorical Cost / ConstantDollar(HC/CD)Current Cost / ConstantDollar(CC/CD)In above matrix are described two aspects: change in unit of measurement (Nominal or Constant Dollar) and change in basis o

15、f valuation (historical or current cost).HISTORICAL COST/NOMINAL DOLLARAs it was mentioned above, financial statements under method HC/ND are not adjusted for inflation. They did not reflect neither changesin general price level or changes in specific prices of particular assets by the time of selli

16、ng, disposal, write off or donation.HISTORICAL COST/CONSTANT DOLLARIt is opposite to accounting method HC/ND. Financial statements under method HC/CD record inflation effects by restating of historical costs in terms of actual (current) purchase power of dollar. This method also measures real gains

17、or losses of purchase power of net cash items held during the period of inflation. It reflects only changesin general price level and not in current changes in prices of goods and services purchased by the entity. It represents the most using method. Mentioned alternative is supported by following a

18、rguments:? restating all accounts in constant dollars is recommended also by International Accounting Standards Committee (IASC) or International Accounting Standard Board(IASB) for using in hyperinflationary economics (IAS 29). In some countries after periods of high inflation (e.g. Brazil and Mexi

19、co), were used different variants of restating,? effect of inflation on entities' accounting is usually more disturbong as effectsrelative price changes which are covered by specific price index. This model uses general price index, i.e. model becomes more useful when inflation is higher.CURRENT

20、 COST/NOMINAL DOLLARFinancial statements under method CC/ND reflect change in specific prices of particular assets because the valuation is based on current prices and does not reflect changes in general purchase power of dollar.CURRENT COST/CONSTANT DOLLARFinancial statements under method CC/CD ref

21、lect effects of both methods, general inflation and changes in specific prices paid by company for goods and services. Financial statementsunder method CC/CD record individual items in their current prices and express current prices in constant dollars. Main purpose of financial statements of this m

22、ethod is to present current value of all recorded items to managers making decisions. Stated purpose is important because managers have to evaluate current situation and make decisions about the future. Current costs are relevant for most decisions. Although this method represents conceptually corre

23、ct approach to reporting it has significant implementation problem. It is usually difficult to gain objectivity and accuracy in determining of current costs. Some managers and accountants believe that relevance of information in current prices qualifies to record data based on subjective estimates.

24、However, financial statements under method CC/CD do not require to record current prices in accounting from time to time. In case of monetary items of financial statements their value is equal to value stated in financial statements under method HC/ND. It is necessary to calculate only gain (loss) o

25、f purchase power from monetary items. In case of non-monetary items, current price is determined in adjustment of financial statements items under method HC/ND using for example specific price index. Thereafter, real gain (loss) from non-monetary items is calculated. It is called also as ,real holdi

26、ng gain (loss)“，i.e. ,real gain (loss)holding“assetsand liabilities. In comparison with accounting method HC/CD,financial statements under method CC/CD record both gain (loss) of purchase power from monetary items and gain (loss) from non-monetary items.As an 川ustration, I stated below comparison of

27、 condensed financial statements of American company using various alternative accounting methods.Table 2: Balance Sheet comparison of alternative accounting methodsCondensed restated Balance Sheetas at 31.12.200X (ths. USD)ItemHCHC/CDCC/CDAssetsCash32 05032 05032 050Receivables32 40032 40032 400Inve

28、ntory13 50015 00016 200Property,Plant&60 00075 00078 000equipment(12 000)(15(15 600)Accumulated depreciation6 350000)6 985Land132 3007 500150 035Assets total146 950Liabilities and Equity40 00040 000Long term liabilities40 000Equity80 000100 000Ordinary shares12 300100 00010 035Non - distributed

29、profit132 3006 950150 035Liabilities and Equity total146 950Table 3: Income Statement comparison of alternative accounting methodsCondensed restated Income Statementfor the year ended 31.12.200X (ths. USD)ItemHCHC/CDCC/CDSales162 000180 000180 000Cost of sales(108 000)(120 000)(129 600)Depreciation(

30、12 000)(15 000)15 330)Other expenses(27 000)(30 000)(30 000)Profit15 00015 0005 070Loss of purchase powerfrom monetaryitems(5 050)(5 050)Real profit from non-monetary items13 015Restated profit9 95013 035The company shows also statement of non-distributed profit, which explains differences in Balanc

31、e Sheet and Income Statement.Table 4: Comparison of Non - distributed profit statement under alternative accounting methodsStatement of non - distributed profit as at 31.12.200X ( ths. USD)ItemHCHC/CDCC/CDProfit15 0009 95013 035Dividends(2 700)(3 000)(3 000)Closing balance12 3006 95010 035From the c

32、omparison above results, that effect of changes in general price level or in particular specific prices significantly modifies values of financial statements depending on used accounting method.Transformation of individual items 'valueaof financial statements differs depending on described accou

33、nting methods and consists of few steps described there in after.HC/ND ACCOUNTING METHODThis method records values of individual items of financial statements based onhistorical costs.HC/CD ACCOUNTING METHODBasis of method is as follows:1、 Dividing of balance sheet items on monetary and non-monetary

34、 items.2、 Recording of balance sheet monetary items at historical costs value of monetary items (e.g. cash in hand, cash on bank accounts and so on) is due to inflation not changed. Therefore the value of these items in restated balance sheet is equal to historical costs.3、 Restatement of historical

35、 costs of balance sheet non-monetary itemvalue of non-monetary items (e.g. inventories, land and so on) is due to inflation changed and therefore it is restated using general price index (consumer price inde x CPI).4、 Restatement of income statement items all items are considered to be non-monetary,

36、 therefore they are restated using the same concept as non-monetary items of balance sheet described in paragraph 3.5、 Calculation of gain (loss) of purchase power from monetary items. It represents restatement of opening balance of period using general price index (described in paragraph 3) and com

37、putation of closing balance. Gain (loss) of purchase power from monetary items is difference between closing balance recorded in accounting on the basis of historical costs and restated closing balance. The gain (loss) of purchase power from monetary items is stated in income statement and it increa

38、se (decrease) calculated profit (loss) of current period.6、Restatement of statement of non-distributed profit -using general price index are recalculated items that decrease profit calculated in the income statement after deduction of gain (loss) of purchase power from monetary items.CC/CD ACCOUNTIN

39、G METHODPreparation of financial statements under method CC/CD consists of the following steps:1、 Recording of monetary items at historical costs (as using method HC/CD).2、Determination of current prices of non-monetary balance sheet items through summary of current prices, specific price index, and

40、 expert' s opinion and so on.3、 Restatement of income statement itemsrevenues are recorded at historical costs after restatement by general price index (as in method HC/ND) and expenses are recorded at current costs restated by general price index.4、Calculation of gain (loss) of purchase power f

41、rom monetary items (described in method HC/CD).5、 Calculation of real gain (loss) from non-monetary items. It is difference between value of non-monetary items recorded using method HC/CD and value of non-monetary items recorded using method CC/CD. Real gain (loss) from non-monetary items is also sh

42、own in income statement and it increase (decrease) profit (loss) of current accounting period6、Restatement of values in statement of non-distributed profit - similarly as in accounting method HC/CD.CONCLUSIONIn financial statements met together historical costs valid in different periods, when cash

43、had due to inflation different purchase power. It causes inflationary deformity in value of expenses, revenues, recognized value of assets, liabilities, equity and in value of calculated income from operations. Consequently, deformity influences ratios of financial analysis and could influence also

44、financial decision and strategy resulting from financial analysis.It is important to show data influenced by inflation in adjusted, restated financial statements. This is required especially from big companies due to proper evaluation of their financial performance.LUCR?RI ?TIIN?IFICE, SERIA I, VOL.

45、 XI (3)译文:通货膨胀对会计的影响一般而言，通货膨胀代表货币的购买力下降。 它显示为生产、消费和投资领 域价水平数的上涨。在某些时期，没有人注意同伙膨胀，但是又不能忽视它。我 们可以说当价格水平显著增长时， 一定继续讨论着个问题。在这篇文章中，我分 析了通货膨胀对会计的影响。例如我比较可供选择的会计方法。关键词：通货膨胀，财务报表，历史成本法 ，现时成本法，替代通货膨 胀会计方法考虑到通货膨胀，我们应该注意外国学者讨论的价格指数变化有两种：1、一般价格水平的变化2、具体到某项资产的价格水平变化斯洛伐克的会计准则对待通货膨胀问题不用特殊和复杂的方法，但也有一些例外，为了防止应收账款的通货膨

46、胀， 会计主体通过坏账准备来应对。 在国际会 计准则框架下的国际会计财务报告，第29条恶性通货膨胀经济中的财务报告 中，指出编制财务报表消除货币的通货膨胀影响在恶性通货膨胀经济下毫无用 处。从不同时期的业务和项目的金额比较， 甚至是同一会计期间内比较，货币以 这样的速度失去购买力，是一种误导。怎样才算正确的应用，这是一个见仁见智 的问题。按会计原则之一，历史成本计价 ，说明当业务发生时商品和服务是按照原 来所花费的成本入账。这种会计模式在历史成本中的财务报表中， 也被称作历史 成本/不变币值，受通货膨胀期间货币购买力减少影响。通货膨胀的影响是相同 财务报表中的货币在不同时期可能有不同的购买力，

47、 这不利于评估财务报表。另 一方面，历史成本法在财务报表中更加客观，因为记录的价值是基于交易双方各 自的经济利益。还有更多的会计概念是利用复杂的金融系统来消除通货膨胀的影 响。用新的会计制度代替传统的会计制度， 是因为传统会计制度的报表中的历史 成本法没有考虑价格水平的变动。下面会解释会计制度中两种价格水平变动：1、不变币值会计：一般价格水平的调整会考虑价格水平的变动。2、现行成本会计：又称现行成本/名义货币会计，计量当前的资产、债务和股票的价值。它不是计量特定资产的具体价格变化而是一般价格水平的变化。根据事实的描述，我们可把主要的财务报告原则，包括正常使用历史成本/不变币值模式分类，如下：重

48、要的区别是，了解财务报告的替代方案。根据事实的描述，我们可把主要的财务报告原则，包括正常使用历史成本/不变币值模式分类，如下：表格1:替代通货膨胀会计方法计价按历史成本计价口按现时成本计价按名义货币 计价历史成本/名义货币 (HC/ND)现时成本/名义货币 (CC/ND)按/、义币值 计价历史成本/、义币值 (HC/CD)现时成本/ /、义币值 (CC/CD)上面表格描述了两个方面：按单位变化计价(名义货币或不变币值)和按基 础计价(历史成本或现时成本)。历史成本/名义货币由于上面所提到的，在历史成本/名义货币模式下的财务报表没有考虑通货 膨胀因素，所以他们既没有反映一般价格水平的变动， 也没

49、有反映在处理非货币 性项目的价格水平变动。历史成本/不变币值它与历史成本/名义货币模式刚好相反。在通货膨胀因素的影响下，历史成 本/不变币值模式下的财务报告，用现时的货币购买力重新计算当时的历史成本。 这个模式还可以在通货膨胀时期计量净现金购买力是实际收益还是亏损的。这个模式仅仅反映一般几个水平的变动，而没有反映具体商品和服务的价格变动。它 是支持大多数的使用方法，其它例外情况如下：被国际会计准则委员会(IASC)重申支持所有会计账户使用不变币值， 也适 用于国际会计准则第29条恶性通货膨胀经济中的财务报告。当然，在一些高通 货膨胀的国家如巴西、墨西哥，分别使用了此模式上引申的方法。通货膨胀对

50、实务会计的影响通常令人不安。 因为相对价格的变动被具体价 格的变动所掩盖，所以这个模型使用一般价格水平， 也就是说，当通货膨胀越高 时，这个模型越有用。现时成本/名义货币现时成本/名义货币模式下的财务报表反映了特定资产的具体价格变动，因为是基于当前价格计价，而不是一般货币购买力的变动。现时成本/不变币值现时成本/不变币值模式下的财务报表反映的这两种模式结果，商品和服务 的一般通货膨胀和价格变化都由公司承受。现时成本 /不变币值模式下的财务报 表用不变币值表示的价格记录各项项目的价格。 运用这种方法的财务报表的主要 目的是表示所有被记录项目的当前价值， 提供给管理层作决策依据。明确目的是 重要的，因为管理层必须评估当前的形式， 以作出有关未来的决策。现时成本与 大多数决定有关，虽然这个模式概念上是正确的，但是真正执行起来却有重大问 题，因为很难客观地和准确地确定现时成本。一些经理和会计师认为记录的有关 现时价格的信息是基于主观数据上的估计。然而，现时成本/不变币值模式下的财务报表不需要经常记录价格变动信息。 假如才报表中货币性项目的价值是等于 历史成本/名义货币模式下财务报表中所表示的价值，那么必须计算从货币性项 目中增加或亏损的货币够买力。假如非货币性项目的现时价格是由实际价格指数 决定的，那么可以计算来自非货币性项目的实际收益或亏损。这也被称为持有资产和负债的实际持