co-yqhxr公允价值会计

1、 我们II打败了敌人。 我们II把敌人打败了重庆理工大学文 献 翻 译二级学院会计学院班 级 0665-1学生姓名张璐 学 号 译文要求1、译文内容必须与课题（或专业）内容相关。2、 外文翻译不少于1万印刷符；外文参考资料阅读量至少 3篇（相当于10万印刷符以上）。3、译文原文（或复印件）应附在译文后备查。译文评阅导师评语（应根据学校“译文要求”，对学生外文翻译的准确性、翻译数量以及译文的文字表述情况等作具体的评价）指导教师：公允价值会计原文摘自由比斯的言论 美国联邦储备理事会会员 对信用协会投资组合经理大会上，11月18日，2004。早上好。我很荣幸能够参加这次秋季会员大会报告。 正如我同事

2、在财务会计准则 委员会（FASB和国际会计准则委员会（IASB）的同意，公允价值会计构成和许多的 挑战，引发了重大的行业辩论公平价值会计题目已解散在美国倔强已逾 10年。公允价值会计的支持者认为，公平价值是最相关的财政措施报告。 然而，其他人 认为，历史成本提供了更有益的措施，因为它更清楚的经济业务表现和公正的价值， 因为估计不一定可靠或验证。因此，哪一种会比较恰当？公允价值或历史成本？我想与大家分享的联邦储备的 长期在这个问题上的立场。作为一位美国银行系统的管理者，我们要为确保金融机构 采取健全会计政策和做法。我们继续支持提高透明度和加强经济信息的披露，旨在促 进市场纪律并提供有用的信息决策

3、者。我们还支持资产和公允价值会计在短期负债交 易业务使用利润，如银行交易账户。而且我们支持增强的公允价值披露的信息的风险 更广泛的描述部分风险和风险管理。 但是，我们认为，会计行业应该是很谨慎地向更 便于理解的公允价值概念切近，所有的金融资产负债记录在资产负债表内按公允价值 和公允价值变动都记录在收入，无论实现与否。财务会计准则委员会最近发表了一份关于提议标准公允价值计量，提供一般框架估价资产及负债前测量或按公允价值披露。1、在这当时，它不扩大公允价值的使用主要财务报表。我想在这里总结并与您 分享美国联邦储备委员会的意见拟议标准，提供给在财务会计准则委员会的意见函的 接触部分的过程。2、我们认

4、为，作为一个良好的开端建议加强对计量在这方面的指导。不过，正 如我现在所讨论的，大量重要的问题值得进一步审议，尤其在对增加公允价值会计做 出戏剧性的举动之前。但是在讨论这些具体问题之前让我必须强调一点： 作为银行上司，美国联邦储备 委员会认为，创新在继续改善我们的金融体系， 改善风险管理是非常重要的。新的方 法和金融工具允许银行组织改进其风险管理， 通过选择的风险承担和目标水平脱落或 限制不想要的位置。会计框架应提高透明度，围绕商业决策和为市民提供一个更好的 风险管理的主题。公允价值计量问题值得进一步思考：可靠性和测量假如市场是具有流动性的，以及所有资产和负债都具有透明度， 公允价值会计显 然

5、会在决策过程依靠可靠有用的信息然而，由于许多资产和负债没有一个活跃的市 场，对估计公平价值的投入和方法比较主观，因此，估值不可靠。美国联邦储备工作人员研究显示，根据投入和估价方法使用，公允价值计量对银 行贷款的估计可能相差很大。例如，公司债券及银团贷款市场内观察到较低评级的不 同类别的利率已多达200至500个基点。这种广泛的范围发生在当债务人匹配时， 高 级债券和贷款的情况下。关于拟议的公允价值标准的财务会计准则委员会的声明表明， 如果市场投入使用 的估价则可靠性将大大增强但是，由于管理使用在选择市场投入的市场价格时， 没有 重大判断，可靠性将继续是一个问题。该提案确定了三个层次的估计，应以

6、最低的一一第三级优先估计。这些估计数是 没有根据活跃市场报价的相同或类似的资产或负债，而是盯模型的预测。该提案建议， 如市场，收入的使用，多种途径和更换费用的办法，将改善这些估计的可靠性。然而, 一些办法的可靠性多大影响，如果所有方法都在相同的基础资料为基础， 因为往往是 金融工具的情况。在我们作为一家银行的监管机构， 我们注意到，在一些小的改动若干假设在一个 定价模式可以有实质影响。一般来说，我们是满意的公允价值液体的贸易， 金融机构 在评估有重要的经验仪器测量过程。但是，我们认为，较低的资产和负债的流动性， 可靠性是一个重要的问题。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