公允价值会计、金融和会计可靠性的关系外文翻译.docVIP

外文文献翻译译文 原文 Fair value accounting, financial economics and the transformation of reliability The conception and application of fair value measurement within financial reporting has an ad hoc history which reaches back at least two decades (Omiros and Jack, 2008). In the 1980s the term was widely applied within the context of acquisition accounting as a basis for the allocation of entry values to acquired assets. The procedure yielded a figure for purchased goodwill and opening book values, but was not without its difficulties and controversies. For example, contractual and transaction cost incentives existed to identify any fair value components of goodwill, such as brands and intangibles. Yet, despite these complications, this earlier period was marked by more or less tolerance of mixed measurement bases for financial accounting. A range of current value measurements were applied piecemeal and a certain style of reactive pragmatism characterised the approaches of national standard-setters. Despite the widely acknowledged intellectual defects of historical cost measurement and the sometimes large gap between accounting net book value and market capitalisation, pressures for a single dominant measurement convention were muted. By 2007, just prior to the financial crisis, the status of fair value measurement had changed entirely, having acquired both an expanded significance and position of controversy within the financial accounting policy process. Indeed, the idea of fair value measurement for accounting came to be a motivating and quasi-philosophical principle at the centre of an accounting reform process led in different ways by specific members of FASB and IASB. Fair value could be said to be much more than just a technical measurement convention; for its proponents it came to represent a change process which was global in aspiration and was increasingly intolerant of the apparent incoherence of mixed measurement systems. Even before the largest financial crisis