资产减值及处置外文翻译.doc

本科毕业论文（设计） 外 文 翻 译外文题目 Asset Impairment and Disposal 外文出处 Journal of Accountancy. New York 外文作者 David T ，Randall W Luecke 原文：Asset Impairment and DisposalEXECUTIVE SUMMARY1. To establish a single model businesses can follow, FASB issued Statement no. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. FASB intends it to resolve implementation issues that arose from its predecessor, Statement no. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be disposed of2. Impairment exists when the carrying amount of a long-lived asset or asset group exceeds its fair value and is nonrecoverable. CPAs should test for impairment when certain changes occur, including a significant decrease in the market price of a long-lived asset, a change in how the company uses an asset or changes in the business climate that could affect the asset’s value.3.Fair value is the amount an asset could be bought or sold for in a current transaction between willing parties. Quoted prices in active markets are the best evidence of fair values. Because market prices are not always available, CPAs should base fair-value estimates on the best information available or use valuation techniques such as the expected-present-value method or the traditional-present-value method.4.When a compant recognizes an impairment loss for an asset group, it must allocate the loss to the assets in the group on a pro rata basis. It must also disclose in the notes to the financial statements a description of the impaired asset and the facts and circumstances leading to the impairment.For many years, companies and other entities accounted for the disposal or expected disposal of long-lived assets that were a segment of a business using one set of rules and the disposal of long-lived assets that were not a segment of a business using another standard. To establish a single model for all long-lived assets, FASB issued Statement no. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The new standard supersedes Statement no. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of and a portion of APB Opinion no. 30, Reporting the Results of Operations—Reporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions. FASB intends Statement no. 144 to resolve significant implementation issues that arose from Statement no. 121. This article explains the new guidance and how CPAs can implement it. TESTING LONG-LIVED ESTIMATING FAIR VALUE Fair value is an asset’s purchase or sale price in a current transaction between willing parties. The best evidence of fair value is prices quoted in active markets, such as the price for a stock listed on a stock market. CPAs must use this amount to value assets if it is available. Because market prices are not available for many long-lived assets such as equipment, fair value estimates must be based on the best information available, including prices for similar assets. While CPAs can use other valuation techniques, present value is often the best for estimating fair value. FASB Concepts Statement no. 7, Using Cash Flow Information and Present Value in Accounting Measurements, discusses two present-value techniques CPAs may use. DISCLOSING IMPAIRMENT LOSSESWhen a company recognizes an impairment loss for an asset group, it must allocate the loss to the long-lived assets in the group on a pro rata basis using their relative carrying amounts. There is an exception when the loss allocated to an individual asset reduces its carrying amount below fair value. If CPAs can determine fair value without undue cost and effort, the asset should be carried at this amount. This requires an additional allocation of the impairment loss (explained below). The adjusted carrying value after the allocation becomes the new cost basis for depreciation (amortization) over the asset’s remaining useful life. A business must include an impairment loss in the income from continuing operations before income taxes line on its income statement. When a subtotal such as income from operations is present, CPAs should include the impairment loss in determining that amount. Other required information companies must disclose in the notes to the financial statements includes (a)A description of the impaired long-lived asset and the facts and circumstances leading to its impairment. (b) If not separately presented on the face of the statement, the amount of the impairment loss and the caption in the income statement or the statement of activities that includes the loss. (c)The method or methods used to determine fair value. (d)If applicable, the segment in which the impaired long-lived asset is repor。