公允价值会计外文文献翻译财务2014年译文3200字Word格式文档下载.docx

1、 finance, 2014, 19（3）: 577-605s（声明：本译文归百度文库所有，完整译文请到百度文库。） 原文The influence of fair value accounting on the banking industryAbstractBarth M E, Landsman W RSince the eighties of the twentieth century，FASB and IASB decided to spare no effort to promote the application of the fair value in accounting st

2、andards in order to reduce the financial risks from Financial derivatives. However, banking and financialregulatory authorities have questioned the reliability of fair value. In addition, they have thought that the application of the fair value will increase the volatility of financial situation and

3、 business performance; and then, it can affect the stability of financial system. In 2007, the outbreak of sub-prime mortgage crisis made fair value become a hot topic. Basic economic theory using fair value accounting for financial institutions for financial report provides a reasonable basis （Heat

4、on et al., 2010）.The so-called Fair Value （Fair Value） is in the process of trading assets or liabilities, familiar with the market situation of the voluntary exchange assets or debt liquidation identified price. As a relatively new measurement model, fair value can provide more real-time, useful in

5、formation to market participants, and thus more valuable.Key words: Fair value; Banking; Financial instruments.1 IntroductionIn the traditional economic environment, historical cost has been in a leading position. In external market price is relatively stable, can generally accompanied by risks and

6、rewards of complete transfer deals, the historical cost, despite of its rationality. And financial accounting emphasizes the fiduciary responsibility, pay more attention to the reliability of the accounting information authenticity, historicalcost measurement can meet the demand of this kind of info

7、rmation to a certain extent. Historical cost measurement, however, is not perfect, began in the late 60 s inflation, said with nominal currency non-monetary assets continue to rise, the marketprice of the book value is much lower than market price, therefore, on the basis of the historical cost fina

8、ncial statements to distort the real performance of enterprise management. Through further research, points out that after the 1980 s due to the rapid development of the financial instruments, financial assets and financial liabilities of price fluctuations is very intense, on the basis of the histo

9、rical cost measurement model cant reflect the market fluctuations caused by price fluctuations, therefore, fair value accounting arises at the historic moment. In addition, from the fiduciary duty to decision-making useful accounting target also create conditions for the emergence of the fair value

10、measurement.Different accounting objectives is different to the requirement of measurement, thedecision-makingusefulconceptrequiresfairvalue, thehistoricalcost measurement and the concept of fiduciary duty requirement. About the causes of the fair value accounting, many scholars believe that fair va

11、lue to the attention of the relevance of accounting information quality is the mainreason. This is because, the usefulness of accounting information is a function of relevance and reliability. Different users of accounting information under the environment of there is a difference on the relevance a

12、nd reliability requirements. When interest rates and asset values steady, the historical cost can be on the premise of guarantee the reliability of meet the relevant requirements. With the development of knowledge economy and the application of financial instruments, interest rate and asset values e

13、stablished stable this assumption is no longer, the correlation of accounting information users of accounting information demand.2 In the banking industry faced by the use of fair value accounting problemsThe application of fair value accounting in the banking sector after a from table to table, fro

14、m simple to complex, from a specific financial instruments to the entire process, so that all assets and liabilities of financial instruments. But the application of fair value accounting is not plain sailing, bankers and regulators strongly opposed tothe fair value of sharply criticized the show th

15、e shortcomings in the practical application. Points out that, due to the use of fair value accounting, financial instruments during the surviving caused by changes in the profit and loss may not be able to provide very relevant information may even use personnel misleading statements.This view in th

16、e subprime mortgage crisis in 2008 for.Apocalypse of the us subprime crisis to our country the article mentioned that us financial giants blame said, according to the fair value of asset-backed securities （ABS）, mortgage backed securities （MBS） and collateralised debt obligation （CDO） measured grades: debt produ