公允价值会计和当前金融危机【外文翻译】.doc

本科毕业论文(设计)
外文翻译
外文出处 CPA Journal
外文作者 Jonh and Laura
原文:
Fair Value Accounting and the Current Financial Crisis
The accounting for financial assets and liabilities is plex issue that has been evolving toward the use of fair value. Both the FASB and IASB provide the option of using fair value accounting in reporting financial assets and liabilities and certain other items. This move is not without controversy. Many have opined that the use of fair value accounting, as opposed to historical cost accounting, has helped cause the turmoil the financial markets. Research indicates that the exclusive use of one accounting method may not be efficient for financial institutions. The authors believe that the FASB should consider an alternative accounting approach that would incorporate both systems and mitigate the inefficiencies of using just one accounting method.
In seeking to explain the current financial crisis, the spotlight has turned to fair value accounting and financial institutions. FASB issued SFAS 157. Fair Value Measurements, in September 2006. Shortly thereafter, the problems related to the sub prime mortgage market began to surface. Many began to question whether or not the current distress in financial institutions is related to the new accounting standard. Did the new standard exacerbate the problems or merely illuminate them?
In October 2008.