重要会计政策的报告外文翻译-精品Word下载.doc

重要会计政策的报告外文翻译-精品Word下载.doc

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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