公允价值会计.docVIP

本科毕业设计（论文） 外 文 翻 译 外文题目 Fair Value Accounting 外文出处 Fair Value Accounting[J].Federal Reserve Bulletin,2005.91(1):26—29. 外文作者 苏珊.施密特 原文: Fair Value Accounting Adapted from remarks by Susan Schmidt Bies，Member， Board of Governors of the Federal Reserve System， to the International Association of Credit Portfolio Managers General Meeting， November 18， 2004. Good morning. I appreciate the opportunity to participate in your Fall General Meeting. As my colleagues at the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will agree， fair value accounting poses many challenges and has sparked significant industry debate. The subject of fair value accounting has been discussed in the United States for well over a decade. Advocates of fair value accounting believe that fair value is the most relevant measure for financial reporting. Others believe that historical cost provides a more useful measure because it more clearly represents the economics of business performance and because fair value estimates not be reliable or verifiable. So， which is more appropriate—fair value or historical cost? Let me share with you the Federal Reserves long-standing position on this issue. As a supervisor of the U.S. banking system， we want to ensure that financial institutions follow sound accounting policies and practices. We continue to support improved transparency and enhanced financial disclosures， which promote market discipline and provide useful information to decision makers. We also support fair value accounting for assets and liabilities used in the business of short-term trading for profit， such as the trading account for banks. We support enhanced disclosures of fair-value-based information as part of broader descriptions of risk exposures and risk management. we believe that the accounting industry should be very careful before movin