国际会计第七章Chapter-7-Accounting-for-changing-prices

Chapter7

FinancialReportingandChangingPrices122000年55%2001年1121%2002年19893%2003年59875%2004年13275%2005年58584%2006年128111%2007年662123%2008年2200000%2000-2008年通胀率津巴布韦通货膨胀34食品类价格同比上涨13.4%，影响价格总水平上涨约4.05个百分点。其中，粮食价格上涨11.9%，影响价格总水平上涨约0.33个百分点；肉禽及其制品价格上涨28.4%，影响价格总水平上涨约1.86个百分点（猪肉价格上涨43.5%，影响价格总水平上涨约1.24个百分点）；非食品价格环比涨幅为0.2%，影响居民消费价格总水平环比上涨约0.10个百分点。其中，烟酒、衣着、家庭设备用品及维修服务、医疗保健和个人用品、居住等类别价格环比分别上涨0.6%、0.9%、0.1%、0.2%和0.2%，交通和通信、娱乐教育文化用品及服务类价格环比分别下降0.1%和0.3%。中国通货膨胀与物价上涨5中国通货膨胀与物价上涨6指在纸币流通条件下，因货币供给大于货币实际需求，也即现实的购买力大于产出供给，导致货币贬值，而引起的一段时间内物价持续而普遍的上涨现象。理解：一般价格水平的上涨通货膨胀7中国的物价上涨表现为以菜价上涨最快。统计的八大类商品，权重最大的是食品（猪肉价格占了CPI的10%）八大类商品，六类上涨，两类下跌。2010年以来，CPI首次超过了5%，其中菜价上涨30%中国通货膨胀与物价上涨8物价上涨原因一部分资金炒农产品价格上涨（1）流通渠道；（2）供求关系；（3）囤积居奇；（4）不必要的通胀恐慌。中国通货膨胀与物价上涨910Learning

ObjectivesWhatdowemeanbytheterm,changingprices?Whyarefinancialstatementsmisleadingduringperiodsofchangingprices?Whatarethevariouswaysofadjustingfinancialstatementsforchangingprices?Doadjustmentsforchangingpricesvaryinternationally?11WhatdoesIAS21havetosayaboutinflationadjustmentsinhyperinflationarycountries?Whatistherestate-translatecontroversyallabout?Isitpossibletodouble-countfortheeffectsofforeigninflation?Learning

ObjectivesPricechanges1.Generalpricelevelchange2.Specificpricechange□GeneralpricelevelchangeItrefersanaveragechangeinthepricesofallgoodsandservicesinaneconomychange.Inotherwords,themonetaryunitgainsorlosespurchasingpower.□SpecificpricechangeItrefersachangeinthepriceofaspecificgoodorservicecausedbychangesindemandandsupply.TheMeanof“ChangingPrices”1213Generalpricelevelchange:

referstoamovementinthepricesofallgoodsandservicesinaneconomyonaverage.Positivepricemovementistermedinflation.Anegativepricemovementiscalleddeflation.TheMeanof“ChangingPrices”14Generalpricelevelchangesaremeasuredbyuseofageneralpricelevelindex(GPL).GPLisacostratiothatcomparesthecostofabasketofgoodsinthecurrentperiodwiththecostofthatsamebasketinapriororbaseperiod.ThereciprocaloftheGPLisameasureofthegeneralpurchasingpowerofthemonetaryunit.TheMeanof“ChangingPrices”15物价指数的高低，就是物价水平的高低?本地商品及服务价格比其他地区低而物价指数反而高，或本地商品及服务价格比其他地区高而物价指数反而低?物价指数VS物价水平16物价指数是指两个时期商品及服务价格相比较的相对数，是反映两个时期物价水平变化趋势或变动程度的一个统计指标，通常用百分值表示。例如，2011年11月与上年同月相比，全国居民消费价格指数为102.8。物价指数减100再乘100%即为升降幅度，物价指数大于100为上升，物价指数小于100为下降。上例又可表述为，11月份全国居民消费价格比上年同月上升2.8%。物价水平是指某个时期商品及服务的价格水平。物价指数的高低，只代表本地区物价水平的高低，而不代表本地区物价水平与其他地区物价水平的高低。物价指数VS物价水平17Specificpricechange:referstothemovementinthepriceofaspecificasset;e.g.,achangeinthepriceofinventory,plant,orequipment.Specificpricechangesaremeasuredbyaspecificpriceindex(SPL).SPLisacostratiothatcomparesthecostofaspecificitemwithitscostinapriororbaseperiod.TheMeanof“ChangingPrices”18特定价格指数是根据某一种或一组特定商品或劳务的价格平均计算而成的，它反映某一特定种类或特定组合商品或劳务的价格变动。在我国居民消费价格总指数中，分别有食品、衣着、家庭设备及用品、医疗保健、交通和通讯工具、娱乐教育文化用品、居住和服务项目等种类的特定价格指数。商品零售价格指数中，有食品类、饮料、烟酒类、服装鞋帽类等。由于在某一特定种类中的每一种商品的价格很少会与其他商品的价格成比例的同增同减，因此，特定物价指数只反映某一种或某一组特定商品或劳务的平均价格变动。TheMeanof“ChangingPrices”19Whyarefinancialstatementspotentiallymisleadingduringpriodsofchangingprices?Duringinflation,revenuesarebasedonthegeneralpurchasingpowerofthecurrentperiod.Expenses,suchasdepreciationandamortization,maybebasedoncurrencyofhighergeneralpurchasingpowerbecausetheirrelatedassetsweretypicallyacquiredinthepastwhenGPLswerelower.

ChangingPrices20Deductingexpensesbasedonhistoricalpurchasingpowerfromrevenuesthatexpressedincurrencyofcurrentpurchasingpoweryieldsanonsensicalindexofperformance.ChangingPrices21Duringaperiodofinflation,assetsrecordedattheiroriginalacquisitioncostsseldomreflecttheassets’current(higher)valueresultinginanoverstatementinreportedincome.This,inturn,mayleadto:HighertaxesHigherdividendsHigherwagesChangingPricesWhyarefinancialstatementspotentiallymisleadingduringpriodsofchangingprices?

Theseunrealincomewilldistort:(1)financialprojections;(2)financialbudgets;(3)theappraisalofperformancedata.Theoverstatedearningsmayleadto:(1)incteasesinproportionatetaxation;(2)requestsbyshareholdersformoredividends;(3)demandsforhigherwagesbyworkers;(4)disadvantageousactionsbyhostgovernmentsChangingPricesSo,afirm'sfianacialdatashouldbeadjustedforchangesinthepurchasingpowerofthemonetaryunit.22ChangingPricesTypesofchangingpricesadjustments

Eachtypeofpricechangehasadifferenteffectonmeasuresofafirm’sfinancialpositionandoperatingperformance,therefore,itshouldbeaccountedforwithdifferentmeans.1.Historicalcost-constantpurchasingpowermodel历史成本-不变购买力模型2.Currentcostmodel现行成本模型Itistheaccountingforthefinancialstatementeffectsofgeneralpricelevelchanges.Itistheaccountingforthefinancialstatementeffectsofspecificpricechanges.2324TypesofchangingpricesadjustmentsObjectiveofconventionalhistoricalcostaccounting:maintainafirm’soriginalinvestment.Assumeafirmbeginsoperationswithaninitialcashinvestmentof$1,000.Cashisimmediatelyconvertedtosaleableinventorywhichisallsoldat50%mark-upbytheendoftheyearfor$1,500.Therearenopricechangesduringtheperiod.

ChangingPrices25TypesofchangingpricesadjustmentsRevenueswouldbe$1,500receiveduniformlyovertheperiod,expenseswouldbe$1,000,andnetincomewouldbe$500.Netincomeof$500representstheamountthatcouldbewithdrawnfromthefirmandleavetheownerswiththeiroriginalinvestmentintact.ChangingPricesGeneralpriceleveladjustments□KeyTerms1.Nominalamounts:arethecurrencyamountsthathavenotbeenadjustedaccordingtogeneralpricelevelchanges.(originalamountsstatedaccordingtomarketprice)Eg.Theoriginalcostofafixedassetexpressedinnominalcurrencyonthebalancesheet.2.Historicalcost-constantcurrency:arethecurrencyamountsthathavebeenadjustedforgeneralpricelevelchanges.Itisalsocalledpurchasingpowerequivalent.26Generalpriceleveladjustments

3.Priceindex:istheindextomeasurethegeneralpricelevelchanges.Itcanbeexpressedinthefollowingformula:

Priceindex=∑p1q1/∑p0q0

p：unitpriceofagivencommodity；q：quantityconsumed；0：thebaseyear；1：thecomparativeyear.

27

Example:Ifafamilyoffourspends$20,000tobuyarepresentativebasketofgoodsandservicesatthebaseyear,and$22,000tobuythatsamebasketayearlater.thegeneralpriceindexwouldbe?Generalpriceleveladjustments28Generalpriceleveladjustments因此，第二年的一般物价指数是：

1.1=$22,000/$20,000

（Itimpliesa10%rateofinflationduringtheyear.）Similarly,ifthebasketinquestioncoststhefamilyof$23,5002yearslater,thegeneralpriceindexwouldbe?

第三年的一般物价指数是：

1.175=$23,500/$20,000

(Itimpliesa17.5%rateofinflationduringtheyear.）29Generalpriceleveladjustments□UseofPriceIndexPriceindexnumbersareusedtotranslatesumsofmoneypaidinpastperiodstotheirend-of-periodpurchasingpowerequivalents.Themethodusedisasfollowing:PPEc=

GPLc/GPLtd×Nominalamounttd

一般购买力等值=当期物价指数/交易日物价指数×名义金额

PPE：generalpurchasingpowerequivalent一般购买力等值GPL：generalpriceindex一般物价水平指数

c：currentperiod当期

td：transactiondate交易日期

30Generalpriceleveladjustments

Example:

Supposethat$500isspentattheendofthebaseyearand$7001yearlater.Torestatetheseexpendituresattheiryear3purchasingpowerequivalents,usingpriceindexnumbers,wewoulddothefollowing:

①PPE3=$500×1.175/1.000=$587.5

②PPE3=$700×1.175/1.100=$747.7331Generalpriceleveladjustments

□Ashortcutofpriceleveladjustment:

PPEc=

GPLc/GPLavg×Nominalamounttd

GPLc=当期物价指数

GPLavg=全年平均物价指数Eg:Usingtheend-of-periodpurchasingpowerequivalentstoexpressrevenues.

PPEc=

GPLc/GPLavg×Totalrevenues

一般购买力等值=当期物价指数/全年平均物价指数×全年收入总额

32Generalpriceleveladjustments

□Priceleveladjustedfiguresdonotrepresentthecurrentcostoftheitemsinquestion.Theyarestillhistoricalcostnumbers.Thehistoricalcostnumbersaremerelyrestatedinanewunitofmeasure—generalpurchasingpowerattheendoftheperiod.

注意：按物价水平调整后的数字并不代表该项目(名义支出)的现行成本，它们仍然是历史成本数字。前述的所有调整只是将历史成本用一个新的计量单位—期末的一般物价水平，来进行重新表述。3334GeneralpriceleveladjustmentsObjective:tomeasureincomesuchthatitrepresentsanamountthatcouldbewithdrawnfromthebusinesswhilepreservingthegeneralpurchasingpowerofthefirm’soriginalinvestment.AssumethesamefactsaspreviouslyexceptthattheGPLadvancesfromalevelof100atthebeginningoftheperiodto121atperiod’sendandaveraged110duringtheyear.35Tokeepupwithinflation,owners’equityshouldgrowbyatleast$210;i.e.,beginningequity=$1,000x121/100=endingowners’equityof$1,210.Toaccomplishthis,revenuesareexpressedinendofperiodpurchasingpowerbymultiplying$1,500by121/110(110isusedasanexpedienttoreflectthefactthatrevenuesarereceiveduniformlyovertheyear).Generalpriceleveladjustments36Expenses(costofsalesinthisexample)wouldalsobeexpressedinendofperiodpurchasingpowerbymultiplying$1,000(incurredatthebeginningoftheyear)by121/100.Thisproducesanadjustedoperatingincomeof$440(=$1.650-$1,210).Generalpriceleveladjustments37GeneralPriceLevelAdjustmentsDuringinflation,anadditionalconsiderationmustbeaccountedfor.Thesearethegainsand/orlossesattributedtoholdingmonetaryitems.Monetaryasset=cashoraclaimtoafixednumberofcurrencyinthefuture;e.g.cashoraccountsreceivable.38Monetaryliability=obligationstopayafixednumberofcurrencyinthefuture;e.g.,mostpayablesexcludingcustomeradvances.Duringinflation,afirmholdingmonetaryassetsexperiencesapurchasingpowerlossascashorreceivablesarenotadjustedforinflation;afirmholdingmonetaryliabilitiesexperiencesapurchasingpowergain,asmonetaryliabilitiesarenotadjustedforinflation.GeneralPriceLevelAdjustments39Intheforegoingexample,thefirmreceived$1,500incashfromsalesuniformlyduringtheyear.Ifthismonetaryassetwereadjustedforinflationitsendingbalanceshouldbe$1,650(=$1,500x121/100).Itsactualendingcashbalanceisonly$1,500,givingrisetoapurchasingpowerloss(monetaryloss)of$150.Priceleveladjustednetincomewouldbe$290(=$440-$150).GeneralPriceLevelAdjustments40■HistoricalCost-constantPurchasingPowerAdjustments□Disposablewealthvs.Firm’swealth1.Firm’swealth2.Disposablewealth（income）:Traditionally,disposableaccountingincome(disposablewealth)isthatportionofafirm’swealththatthefirmcanwithdrawduringanaccountingperiodwithoutreducingitswealthbeneathitsoriginallevel.GeneralPriceLevelAdjustments（P164）disposableaccountingincome(traditionalaccountingincome).41GeneralPriceLevelAdjustments(P164)■HistoricalCost-constantPurchasingPowerAdjustments

□Example:SupposethatanArgentinemerchandiserbeginsthecalendaryearwithAP(ArgentinePesos)

100,000incash(nodebt),whichisimmediatelyconvertedintosalableinventory.Thefirmsellstheentireinventoryuniformlyduringtheyearata50%markup.

theaccountingincome=closingbalanceofnetassets－openingbalanceofnetassets=AP150,000-AP100,000=AP50,000Whenthelevelofpricechanges,theconventionalmeasureofincomemaynotaccuratelymeasureafirm’sdisposablewealth.Assumingnoinflation,enterpriseincomewouldbeAP50,00042GeneralPriceLevelAdjustments(P165)

Suppose:insteadthattheperiodhada21%inflationratewiththegeneralpricelevel(1.21atyear-end),averaging1.10duringtheyear.Inflation-adjustedincomewouldbemeasuredasfollows:

名义比索调整系数不变比索收入－费用AP150,000＊1.21/1.10AP165,000100,000＊1.21/1.00121,000经营收益AP50,000AP44,000－货币损失＊－＊

15,000净收益AP50,000AP29,00043GeneralPriceLevelAdjustments(P165)Conclusion

Theobjectiveofhistoricalcost--constantpurchasingpowermodelistopreservethegeneralpurchasingpower.历史成本—不变购买力模式的目的是保全公司货币的一般购买力。(资本保全观financialcapitalmaintenanceconcept）44CurrentCostAdjustment(P167)CurrentCostAdjustment

Thecurrentcostmodeldiffersfromconventionalaccountingintwomajorrespects:1.Assetsarevaluedattheircurrentcostratherthantheirhistoricalcost.2.Incomeistheamountofresourcesthatthefirmcandistributeduringaperiod,whilemaintainingitsproductivecapacityorphysicalcapital.45CurrentCostAdjustment(P167)Eg.资产=负债+所有者权益现金存货资本1.100,000100,0002.(100,000)100,0003.150,000150,000收入4.40,00040,000重估价值5.(140,000)(140,000)费用46CurrentCostAdjustment(P167)Conclusion

Thecurrentcostmodelattemptstopreserveafirm’sphysicalcapitalorproductivecapacity.

现行成本模式要保持的是公司的实物资本或者公司的生产能力。4748CurrentCostAdjustmentAdjustmentsforSpecificPriceChangesObjective:tomeasureincomesuchthatitrepresentsanamountthatcouldbewithdrawnfromthebusinesswhilepreservingthefirm’sproductivecapacity;i.e.,abilitytoreplacespecificassetswhosepriceshaverisenduringtheperiod.Continuingthepreviousexample,assumethatinadditiontogeneralinflation,specificpricesofinventoryhaveincreasedby30%.49Asthereplacementcostofinventorieshaveincreasedby30%,owners’equityshouldgrowbyatleast$300;i.e.,beginningequity=$1,000x130/100=$1,300.Failingthis,thecompanywillnotbeabletomaintainitsproductivecapacity;replaceallofitsinventory.Toaccomplishthis,assetsandtheirrelatedexpensesarerestatedtotheircurrentcostequivalents.CurrentCostAdjustment50CurrentCostAdjustment

Inventoryandhencecostofsales(allinventorywassold)wouldberestatedto$1,300(=$1,000x130/100).Thisproducesareplacementcostbasedadjustedoperatingincomeof$200(=$1.500-$1,300).51Withdrawing$200fromthebusinesswouldleavethefirmwith$1,300,theamountnecessarytoenableittopreserveitsproductivecapacity.Seepp.143-144ofInfosys’annualreportat/investor/reports-filingsandselectannualreportfor2007.CurrentCostAdjustment(P167)

52GeneralPriceLevelAdjustedCurrentCosts(P168)Objective:tomeasureincomesuchthatitrepresentsanamountthatcouldbewithdrawnfromthebusinesswhilepreservingthefirm’sgeneralpurchasingpowerandallowingittomaintainitsproductivecapacityinrealterms.53Samefactsasbefore.Generalpricelevelshaveadvancedby10%andspecificpriceshaveincreasedby25%.Adistinctivefeatureofthismeasurementframeworkisthatitreportschangesinthecurrentcostsofafirm’snonmonetaryassets,netofinflation.GeneralPriceLevelAdjustedCurrentCosts(P168)54Theincreaseinthemachinery’scostduetogeneralinflationwas$110(=$1,000x110/100).Therealchangeintheinventory’scurrentcostwas$150[=($1,000x125/100)–($1,000x110/100)].GeneralPriceLevelAdjustedCurrentCosts(P168)NationalPerspectives(P170)NationalPerspectiveonInflationAccounting□UnitedStatesⅠ.SFASNo.33.(1979)

“FinancialReportingandChangingPrices”.1.thecontentofSFASNo.33.----require

largecompaniestodisclosurebothhistoricalcost–constantpurchasingpowerandcurrentcost-constantpurchasingpowerfor5year.

＊Thesedisclosureswerejustsupplementtofinancial

statements

□largecompaniesⅰ.withinventoriesandproperty,plant,andequipmentofmorethan$125million;ⅱ.totalassetsofmorethan$1billion.55NationalPerspectives(P170)1979年，美国的财务会计委员会发布了33号《财务会计准则公告》，要求所有大公司必须同时披露反映历史成本—不变购买力和现行成本—不变购买力的连续5年的资料。

1.拥有存货以及厂房设备达125亿美元以上；

2.拥有资产总额达10亿美元以上。(但是注意，这些只是作为补充披露的内容，而不是作为编制主要财务报表的基本计量依据。）56NationalPerspectives(P171)2.ThereviewofSFASNo.33ⅰ.thecharacteristicisthedoubledisclosure.

ⅱ.toincreasethecostofdisclosure.ⅲ.historicalcost–constantpurchasingpowerdatawerelessusefulthancurrentcostdata.57NationalPerspectives(P171)

Ⅱ.SFASNo.89.Itencouragescompaniestodisclosethefollowinginformationforeachofthe5mostrecentyears:---Netsalesandotheroperatingrevenues;---Incomefromcontinuingoperationsonacurrentcostbasis;---Purchasingpowergainsorlossesonnetmonetaryitems;---Increasesordecreasesinthecurrentcostorlowerrecoverableamount;

58NationalPerspectives(P171)---Anyaggregateforeigncurrencytranslationadjustment,onacurrentcostbasis,thatarisesfromtheconsolidationprocess;---Netassetsatyear-endonacurrentcostbasis;---Earningspershareonacurrentcostbasis;---Dividendspershareofcommonstock;---Year-endmarketpricepershareofcommonstock;---LeveloftheConsumerPriceIndexusedtomeasureincomefromcontinuingoperations.59NationalPerspectives(P171)

Ⅲ

ForeignOperationsThefollowingtwomethodsareusedtoadjustthecurrentcostoftheforeignoperationsofU.S.parentcompanies:1.Thetranslate-restatemethod:‘折算—重新表述’法

Theaccountsofforeignoperationsshouldbetranslatedtodollars,thenadjustedforU.S.inflation.

这些国外业务的账户余额先折算成美元表示，再按照美国的通货膨胀水平进行调整。

2.Therestate-translatemethod:‘重新表述—折算’法

TheaccountsofforeignoperationsshouldbeadjustedforforeigninflationandthentranslatetoU.S.dollars.

这些国外业务的账户余额先按照所在地当地的通货膨胀水平进行调整，然后在折算成美元表示。SFASNo.89.6061NationalPerspectives(P172)现行成本调整美元是功能货币先折算成美元，然后按照美国的GPL重新表述当地货币是功能货币先折算成美元，然后按照美国的GPL重新表述先按照外国的GPL重新表述，然后折算成美元62NationalPerspectives(P172)UnitedKingdom

ⅠASCissuedSSAPNo.16“CurrentCostAccounting”in1980.

1.SSAPNo.16adoptedonlythecurrentcostmethodforexternalreporting;2.WhereastheU.S.inflationadjustmentfocusedontheincomestatement,theU.K.currentcoststatementrequiredbothacurrentcostincomestatementandabalancesheet,withexplanatorynotes.英国会计准则委员会于1980年发布了《16号标准会计实务公告——现行成本会计》1.仅对对外报告提出了按照现行成本编制的要求；2.美国的通货膨胀调整以收益表为中心，而英国要求同时报告现行成本收益表和现行成本的资产负债表，还有解释性注释。63NationalPerspectives(P172)ⅡTheU.K.standardallowedthreereportingoptions:1.Presentingcurrentcostaccountsasthebasicstatementswithsupplementaryhistoricalcostaccounts.

将现行成本报表作为基本报表，以历史成本报表为补充；

2.Presentinghistoricalcostaccountsasthebasicstatementswithsupplementarycurrentcostaccounts.将历史成本报表作为基本报表，以现行成本报表为补充；3.Presentingcurrentcostaccountsastheonlyaccountsaccompaniedbyadequatehistoricalcostinformation.

将现行成本报表作为唯一报表，同时附有足够的历史成本信息。64NationalPerspectives(P172)ⅢSSAPNo.16requiredtwofigurestoreflecttheeffectsofspecificpricechanges.

1.MWCA（amonetaryworkingcapitaladjustment）：货币营运资本调整额

----torecognizetheeffectofspecificpricechangesonthetotalamountofworkingcapitalusedinthebusinessoperations.2.GA(thegearingadjustment):杠杆比率调整额

----toreflecttheimpactofspecificpricechangesonafirm’snonmonetaryassets.

65NationalPerspectives(P173)＊〔(TL-CA)/(FA+I+MWC)〕(CCDep.Adj.+CCSalesAdj.+MWCA)

其中，TL=应付购销账款以外的负债总额CA=应收购销账款以外的流动资产FA=包括投资在内的固定资产

I=存货

MWC=货币营运资本CCDep.Adj.=折旧费的现行成本调整CCSalesAdj.=销售额的现行成本调整MWCA=货币营运资本调整额66NationalPerspectives(P173)□BrazilⅠInflationaccountingrecommendedbyBrazilianCorporateLawⅡInflationaccountingrecommendedbyBrazilSecuritiesandExchangeCommission67NationalPerspectives(P173)Ⅰ.InflationaccountingrecommendedbyBrazilianCorporateLaw

ⅰ.thecontent----torestatepermanentassetsandstockholder’sequityaccountsusingapriceindex.

用物价指数重新表述永久性资产账户和股东权益账户。

①Permanentassetsincludefixedassets,buildings,investments,deferredchargesandtheirrespectivedepreciation,andamortizationordepletionaccounts(includinganyrelatedprovisionsforlosses).68NationalPerspectives(P173)永久性资产包括固定资产、建筑物、投资、递延借项及其各自的折旧和摊销或者减值账户（包括任何相关的损失）。②Stockholders’equityaccountscomprisecapital,revenuereserves,revaluationreserves,retainedearnings,andacapitalreservesaccountusedtorecordthepriceleveladjustmenttocapital.

股东权益账户包括资本、收入准备、重估价准备、留存收益以及用于记录对资本进行物价水平调整的资本准备账户。69NationalPerspectives(P175)计算推导过程：令M=货币性资产；N=非货币性资产；L=负债；

E=权益；i=通货膨胀率则：

M+N=L+E等式两侧同乘（1+i)：

M+Mi+N+Ni=L+Li+E+Ei移项整理：

M+(N+Ni)=L+(E+Ei)+(L-M)I因为M+N=L+E，所以，Ni=Ei+(L-M)i＊7071Permanentassetadjustmentsareoffsetagainststockholders’equityadjustments.Apermanentassetadjustment<equityadjustmentproducesapurchasingpowerloss.Apermanentassetadjustment>equityadjustmentproducesapurchasingpowergain.NationalPerspectives(P175)NationalPerspectives(P175)即：永久性资产通货膨胀调整额-所有者权益通货膨胀调整额=货币性利得或损失①当永久性资产的调整额低于股东权益的调整额时，产生购买力损失，表示公司在其净货币资产上承受的物价变动风险。Ni-Ei

＜0②当永久性资产的调整额高于股东权益的调整额时，产生购买力利得，说明公司资产中的一部分来自于借款筹资。

Ni-Ei

＞072NationalPerspectives(P176)ⅡInflationaccountingrecommendedbyBrazilSecuritiesandExchangeCommission

ⅰthecontentListedcompaniesmustremeasurealltransactionsduringtheperiodusingtheirfunctionalcurrency.Attheendoftheperiod,theprevailinggeneralpricelevelindexconvertsunitsofgeneralpurchasingpowertounitsofnominallocalcurrency.73NationalPerspectives(P176)①Inventoryisincludedasanonmonetaryassetandisremeasuredwiththefunctionalcurrency.存货包括在非货币性资产中，并且用功能货币重新计量；②Noninterest-bearingmonetaryitemswithmaturitiesexceeding90daysarediscountedtotheirpresentvaluestoallocateresultinginflationarygainsandlossestoappropriateaccountingperiods(e.g.thediscountontradereceivablesistreatedasareductionofsales,thediscountonaccountspayablereducespurchases).到期日超过90天，不计利息的货币项目折现为其现值，并将其导致的通货膨胀利得或损失分配计入适当的会计期间（例如，应收账款的折现作为销售额的减项处理，应付账款的折扣购货成本的减项。）74NationalPerspectives(P176)③Blancesheetadjustmentsaresimilarlyreclassifiedtoappropriatelineitemsintheincomestatement.

资产负债表的调整采用与收益表相应的项目分类。75InternationalAccountingStandardsBoard(P176)InternationalAccountingStandardsCommittee1.TheIASCissuedIASNo.15,“InformationReflectingtheEffectsofChangingPrices”in1981.---recommendslargepubliclytradedenterprisestodisclosurethefollowinginformation,typicallyinsupplementaryform,usinganymethodthatadjustsforchangingprices:1981年，国际会计准则委员会发布了第15号国际会计准则《物价变动影响的信息反映》，该准则建议公开上市的大公司，主要通过补充形式，使用任何调整物价变动影响的方法披露下列信息：76InternationalAccountingStandardsBoard(P176)①Theamountoftheadjustmentto,ortheadjustedamountof,depreciationofproperty,plantandequipment;

对厂房设备折旧的调整额，或者已经调整的金额。②Theamountoftheadjustmentto,ortheadjustedamountof,costofsales;

对销售成本的调整额，或者已经调整的金额。③Afinancingadjustment(s),ifsuchadjustment(s)isgenerallypartofthemethodadoptedforreportinginformationonchangingprices;

筹资调整额，如果这种调整是所采用的报告物价变动信息方法的一般组成部分。77InternationalAccountingStandardsBoard(P176)④Theenterpriseresultsrecomputedtoreflecttheeffectsoftheitemsdescribedin①and②and,whereappropriate,③andanyotheritemsseparatelydisclosedthatthemethodadoptedrequires.

重新计算企业经营成果，以反映(1),(2)和(3)及要求单独披露所使用方法对其他项目的影响。⑤Ifacurrentcostmethodisadopted,thecurrentcostofinventoriesandofproperty,plant,andequipmentshouldbedisclosed.Disclosureofmethodsusedtocomputetheinflationadjustmentsisalsorequired.如果采用现行成本，存货和厂房设备的现行成本应予披露，还要求披露用来计算通货膨胀影响所使用的方法。782.TheIASBissuedIASNo.29,“FinancialReportinginHyperinflationaryEconomies”.①Itrequires

financialstatementsofanenterprisethatreportsinacurrencyofahyperinflationaryeconomy,whetherbasedonahistoricalorcurrentcostvaluationframework,shouldbereexpressedintermsofconstantpurchasingpowerasofthebalancesheetdate.②Purchasingpowergainsorlossesrelatedtoanetmonetaryliabilityorassetpositionaretobeincludedincurrentincome.国际会计准则委员会发布第29号国际会计准则《恶性通货膨胀经济中的财务报告》。该公告1.建议以恶性通货膨胀国家货币为计量单位编制的企业财务报表，无论是以历史成本还是以现行成本作为计价基础，都应该以资产负债表日的不变购买力为单位重新表述。2.与净货币资产或净货币负债相关的购买力利得或损失包括在当期收益中。InternationalAccountingStandardsBoard(P176)79③Reportingenterprisesshouldalsodisclosethefollowing:---Thefactthatrestatementforchangesinthegeneralpurchasingpowerofthemeasuringunithasbeenmade;

由于计量单位一般购买力的变动而重新编制的财务报告已经完成；

---Theassetvaluationframeworkemployedintheprimarystatements(i.e.historicalorcurrentcostvaluation);

在主要财务报表中使用的资产计量模式（例如，是历史成本或是现行成本计价）；InternationalAccountingStandardsBoard(P176)80---Theidentityandlevelofthepriceindexatthebalancesheetdate,togetherwithitsmovementduringthereportingperiod;

资产负债表日物价指数的情况和水平，以及报告期物价指数的变动；---Thenetmonetarygainorlossduringtheperiod.

当期净货币利得或损失InternationalAccountingStandardsBoard(P176)81InflationIssues（P177）AsummaryofInflationAccountingIssues□InflationGainsandLosses1.UnitedStatesGainsorlossesonmonetaryitems(allmonetaryas