重要会计政策的报告外文翻译-精品.doc

重要会计政策的报告外文翻译-精品.doc

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中文3570字

本科毕业论文（设计）

外文翻译

题目上市公司会计政策的选择研究

专业会计学

外文题目ReportingCriticalAccountingPolicies

外文出处THECPAJOURNAL

外文作者MarkP.Holtzman

原文：

ReportingCriticalAccountingPolicies

Accountantsinevitablymakemanyaccountingestimatesandpolicydecisionswhenpreparingfinancialstatements.Theymustselectdepreciablelivesforlong-livedassets.chooseaninventorycostingmethod,makeassumptionsaboutpensions,andmakemanymorejudgments.Theseaccountingestimatesaredrivenbyanentity'saccountingpolicyasitappliestotheissuesathand.Thesedecisionscouldsignificantlyaffectacompany'sfinancialstatementsandhowusersunderstandacompany'sresultsandfinancialposition.

Forthisreason,theSECrequirescompaniestoreport"criticalaccountingpolicies"（CAP）aspartofManagement'sDiscussionandAnalysis（MD&A）.TheSEChasissuedmanycommentlettersaboutcompanies'CAPS,indicatingtheirimportance.WhatfollowsisanoverviewoftheSEC’SrequirementsandproposedruleonCAPS,aswellasasurveyofcurrentpracticesbylargecompanies.

TheSEC’SInterpretation

InDecember2003,theSECreleasedFR-72,"Interpretation:

CommissionGuidanceRegardingManagement'sDiscussionandAnalysisofFinancialConditionandResultsofOperations"（www.sec.gov/rules/interp/33-835O.htm）.ThiscoveredmanydifferentareasofMD&A,includingcriticalaccountingestimates.Theinterpretationdefinescriticalaccountingestimatesasthose"estimatesorassumptionswhere[1]thenatureoftheestimatesorassumptionsismaterialduetothelevelsofsubjectivityandjudgmentnecessarytoaccountforhighlyuncertainmattersorthesusceptibilityofsuchmatterstochangeand[2]theimpactoftheestimatesandassumptionsonfinancialconditionoroperatingperformanceismaterial."

TherulestatesthatcriticalaccountingestimatedisclosuresintheMD&Ashouldsupplementthedescriptionofsignificantaccountingpoliciesprovidedatthebeginningofthenotestothefinancialstatements[requiredunderAccountingPrinciplesBoard（APB）Opinion22andAICPAStatementofPosition（SOP）94-6].TheMD&Adisclosureshouldprovidemoreinsightintothequalityandvariabilityofinformationonthebalancesheetandincomestatement.Furthermore,thedisclosureshouldanalyzetheuncertaintiesinvolvedinapplyinganaccountingprinciple,orthevariabilitylikelytoresultfromitsapplicationovertime.

Accountantsshouldexplainwhycriticalaccountingestimatesbeartheriskofchange.Furthermore,theyshouldexplainhowtheyarrivedattheestimate,howaccuratetheestimateorassumptionhasbeeninthepast,howmuchtheestimateorassumptionhaschangedinthepast,andwhethertheestimateorassumptionisreasonablylikelytochangeinthefuture.Whenquantitative,materialinformationisavailable,accountantsshouldquantifythesensitivitytochangebasedonreasonablylikelyoutcomes.

TheSEC’SProposedRule

InMay2002,priortotheissuanceoftheaboveinterpretation,theSECreleasedaproposedrule.“DisclosureinManagement'sDiscussionandAnalysisabouttheApplicationofCriticalAccountingPolicies”Thisproposedruleprovidesmorecompleteanddirectguidancethantheinterpretation.TheSEChasyettoactuponthisproposal;ithasnotissuedanyamendedproposalsorfinalrulesonthematter.Furthermore,theSEC'SDivisionofCorporationFinance'smostrecentCurrentAccountingandDisclosureIssues（November30,2006）didnotmentionCAPS.

TheproposedrulewouldredefinethecriteriaforCAPStofocusonthefollowing:

1）criticalaccountingestimatesthatrequireacompanytodrawassumptionsabouthighlyuncertainmatters;and2）alternateestimatesinthecurrentperiod,orchangesintheestimatethatarereasonablylikelyinfutureperiodsthatwouldmateriallyimpactthepresentationofthecompany'sfinancialcondition,changesinfinancialcondition,orresultsofoperations.

Theproposedrulesetsanumberofadditionaldisclosuresforeachestimate.Companieswouldberequiredtoexplainthesignificanceofeachcriticalaccountingestimatetothefinancialstatementsand,wherematerial,toindividualfinancialstatementlineitems.Furthermore,theproposedrulewouldrequirequantifyingfinancialstatements'sensitivitytochangesmadeineachcriticalaccountingestimate,anddisclosinghistoricalchangesinacompany'scriticalaccountingestimatesoverthepastthreeyears（twoyearsforsmallbusinessissuers）.Companieswouldherequiredtoexplainthereasonsforthosechanges.

Forinitialadoptionsofaccountingpolicies,companieswouldberequiredtodescribethefollowing:

1）theeventsortransactionsthatgaverisetotheinitialadop