完全公允价值会计时代的到来【外文翻译】.doc

本科毕业论文（设计） 外 文 翻 译 外文出处 Bank Asset/Liability Management,2009(10):7-8 外文作者 Orlando Hanselman 原文： Full Fair Value Accounting: Its Time Has Come Executive Summary: It is time to evaluate fair value accounting objectively by returning to the conceptual roots of our modern accounting framework and debunking certain false doctrines. Analyzing the conceptual integrity of fair value compared to historic cost accounting demonstrates the clear superiority of fair value measurement and reporting. True capital adequacy can only be ascertained on a risk-adjusted basis. The starting point for such needed and sound risk-adjustment is reflecting changes in market values for all assets and liabilities to determine the economic value of equity. Full fair value accounting with appropriately detailed disclosures should be required now for all reporting entities and for all assets and liabilities. Such a requirement also would result in equity stated on a full fair value basis. Historical cost should be properly relegated to no more than footnote disclosure. Full fair valueaccounting sharpens investor and management focus on long-term, risk-adjusted organizational performance and the optimization of economic value of equity. Full fair value accounting…its time has come! Fair value accounting, once a subject relegated for discussion by the green eyeshade and the pocket protector crowd, has moved from accounting cubicles to Main Street and the political power corridors of America. Much has recently been written about it. Much conversation has been held. The issue has taken on partisan tones with both staunch proponents and determined, well funded opponents raising up their voices. To sort through this rhetoric it is time to look at fair value accounting objectively by returning to the conceptual roots of our modern accounting framework and debunking certain false doctrines espoused by fair value accounting critics. As this analysis will substantiate,no