资产减值及处置外文翻译.docx
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资产减值及处置外文翻译.docx
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资产减值及处置外文翻译
本科毕业论文(设计)
外文翻译
外文题目AssetImpairmentandDisposal
外文出处JournalofAccountancy.NewYork
外文作者DavidT,RandallWLuecke
原文:
AssetImpairmentandDisposal
EXECUTIVESUMMARY
1.Toestablishasinglemodelbusinessescanfollow,FASBissuedStatementno.144,AccountingfortheImpairmentorDisposalofLong-LivedAssets.FASBintendsittoresolveimplementationissuesthatarosefromitspredecessor,Statementno.121,AccountingfortheImpairmentofLong-LivedAssetsandforLong-LivedAssetstobedisposedof
2.Impairmentexistswhenthecarryingamountofalong-livedassetorassetgroupexceedsitsfairvalueandisnonrecoverable.CPAsshouldtestforimpairmentwhencertainchangesoccur,includingasignificantdecreaseinthemarketpriceofalong-livedasset,achangeinhowthecompanyusesanassetorchangesinthebusinessclimatethatcouldaffecttheasset’svalue.
3.Fairvalueistheamountanassetcouldbeboughtorsoldforinacurrenttransactionbetweenwillingparties.Quotedpricesinactivemarketsarethebestevidenceoffairvalues.Becausemarketpricesarenotalwaysavailable,CPAsshouldbasefair-valueestimatesonthebestinformationavailableorusevaluationtechniquessuchastheexpected-present-valuemethodorthetraditional-present-valuemethod.
4.Whenacompantrecognizesanimpairmentlossforanassetgroup,itmustallocatethelosstotheassetsinthegrouponaproratabasis.Itmustalsodiscloseinthenotestothefinancialstatementsadescriptionoftheimpairedassetandthefactsandcircumstancesleadingtotheimpairment.
Formanyyears,companiesandotherentitiesaccountedforthedisposalorexpecteddisposaloflong-livedassetsthatwereasegmentofabusinessusingonesetofrulesandthedisposaloflong-livedassetsthatwerenotasegmentofabusinessusinganotherstandard.Toestablishasinglemodelforalllong-livedassets,FASBissuedStatementno.144,AccountingfortheImpairmentorDisposalofLong-LivedAssets.ThenewstandardsupersedesStatementno.121,AccountingfortheImpairmentofLong-LivedAssetsandforLong-LivedAssetstoBeDisposedOfandaportionofAPBOpinionno.30,ReportingtheResultsofOperations—ReportingtheEffectsofDisposalofaSegmentofaBusiness,andExtraordinary,UnusualandInfrequentlyOccurringEventsandTransactions.FASBintendsStatementno.144toresolvesignificantimplementationissuesthatarosefromStatementno.121.ThisarticleexplainsthenewguidanceandhowCPAscanimplementit.
TESTINGLONG-LIVEDESTIMATINGFAIRVALUE
Fairvalueisanasset’spurchaseorsalepriceinacurrenttransactionbetweenwillingparties.Thebestevidenceoffairvalueispricesquotedinactivemarkets,suchasthepriceforastocklistedonastockmarket.CPAsmustusethisamounttovalueassetsifitisavailable.Becausemarketpricesarenotavailableformanylong-livedassetssuchasequipment,fairvalueestimatesmustbebasedonthebestinformationavailable,includingpricesforsimilarassets.WhileCPAscanuseothervaluationtechniques,presentvalueisoftenthebestforestimatingfairvalue.FASBConceptsStatementno.7,UsingCashFlowInformationandPresentValueinAccountingMeasurements,discussestwopresent-valuetechniquesCPAsmayuse.
DISCLOSINGIMPAIRMENTLOSSES
Whenacompanyrecognizesanimpairmentlossforanassetgroup,itmustallocatethelosstothelong-livedassetsinthegrouponaproratabasisusingtheirrelativecarryingamounts.Thereisanexceptionwhenthelossallocatedtoanindividualassetreducesitscarryingamountbelowfairvalue.IfCPAscandeterminefairvaluewithoutunduecostandeffort,theassetshouldbecarriedatthisamount.Thisrequiresanadditionalallocationoftheimpairmentloss(explainedbelow).Theadjustedcarryingvalueaftertheallocationbecomesthenewcostbasisfordepreciation(amortization)overtheasset’sremainingusefullife.
Abusinessmustincludeanimpairmentlossintheincomefromcontinuingoperationsbeforeincometaxeslineonitsincomestatement.Whenasubtotalsuchasincomefromoperationsispresent,CPAsshouldincludetheimpairmentlossindeterminingthatamount.
Otherrequiredinformationcompaniesmustdiscloseinthenotestothefinancialstatementsincludes
(a)Adescriptionoftheimpairedlong-livedassetandthefactsandcircumstancesleadingtoitsimpairment.
(b)Ifnotseparatelypresentedonthefaceofthestatement,theamountoftheimpairmentlossandthecaptionintheincomestatementorthestatementofactivitiesthatincludestheloss.
(c)Themethodormethodsusedtodeterminefairvalue.
(d)Ifapplicable,thesegmentinwhichtheimpairedlong-livedassetisreportedunderFASBStatementno.131,DisclosuresaboutSegmentsofanEnterpriseandRelatedInformation.
ASSETSDISPOSEDOFOTHERTHANBYSALE
Acompanymustcontinuetoclassifylong-livedassetsitplanstodisposeofbysomemethodotherthanbysaleasheldanduseduntilitactuallygetsridofthem.Otherdisposalmethodsincludeabandonment,exchangeforasimilarproductiveassetordistributiontoownersinaspin-off.
Acompanyshouldreportlong-livedassetstobeabandonedordistributedtoownersthatconsistofagroupofassets(andliabilities)thatarea“componentofanentity”intheincomestatementasdiscontinuedoperations.Iftheassetsarenotacomponent,CPAsshouldreporttheirdisposalaspartofthecompany’sincomefromcontinuingoperations.
Statementno.144definesacomponentofanentityasoperationsandcashflowsthatcanbeclearlydistinguishedbothoperationallyandforfinancialreportingpurposesfromtherestoftheentity.AcomponentmaybeaReportablesegmentoranoperatingunit,asdefinedinStatementno.131.areportingunit,asdefinedinStatementno.142.
Asubsidiaryoranassetgroup.Statementno.144definesassetgroupas“assetstobedisposedoftogetherasagroupinasingletransactionandliabilitiesdirectlyassociatedwiththoseassetsthatwillbetransferredinthetransaction.”
Along-livedassetacompanywillabandonisconsidereddisposedofwhenthecompanystopsusingit.Atemporarilyidleassetisnotaccountedforasabandoned.Ifanentityplanstoabandonalong-livedassetbeforeitsestimatedusefullife,itwilltreattheassetasheldandused,testitforimpairmentandrevisedepreciationestimatesinaccordancewithOpinionno.20.Continueduseofsuchalong-livedassetdemonstratesservicepotential(theunitisuseable),andhence,fairvaluewouldbezeroonlyinunusualcircumstances.Duringusebeforeabandonment,thecompanyshoulddepreciatetheassetsothatatdisposalorabandonment,itscarryingvalueequalsitssalvagevalue.Thisamountshouldnotbelessthanzero.
Along-livedassettobedistributedtoownersorexchangedforasimilarproductiveassetisconsidereddisposedofwhenitisdistributedorexchanged.Whentheassetisclassifiedasheldandused,anytestforrecoverabilitymustbebasedonusingtheassetforitsremainingusefullife,assumingdisposalwillnotoccur.Ifthecarryingamountexceedsfairvalueatdisposal,thecompanymustrecognizeanimpairmentloss.
LONG-LIVEDASSETSTOBESOLD
Acompanymustclassifyalong-livedassetitwillsellasheldforsaleintheperioditmeetsallofthesecriteria:
Managementwiththeauthoritytoapprovetheactioncommitstoaplantosell.
Theassetisavailableforimmediatesaleinitspresentcondition,subjectonlytotermsthatareusualandcustomarywhensellingsuchassets.
Thecompanyhasinitiatedanactiveprogramtolocateabuyer.
Thesaleisprobableandtheassettransferisexpectedtoqualifyasacompletedsalewithinoneyear(therearesomecircumstancesbeyondtheentity’scontrolthatmayextendthetimeforcompletionbeyondoneyear).
Thecompanyisactivelymarketingtheassetatareasonablepriceinrelationtoitscurrentfairvalue.
Ifthecompanymeetstheabovecriteriaafterthebalance-sheetdatebutbeforeitissuesitsfinancialstatements,itmustcontinuetoclassifytheassetasheldandused.Inthenotestothefinancialstatements,thecompanymustdisclosethefactsandcircumstancesleadingtotheexpecteddisposal,thelikelymannerandtimingofthedisposaland—ifnotseparatelyshownonthefaceofthestatement—thecarryingamount(s)ofthemajorclassesofassetsandliabilitiesincludedinthedisposalgroup.Ifthecompanyteststheassetforrecoverabilityatthebalance-sheetdate,itshoulddosoonaheld-and-usedbasis.Futurecashflowestimatesusedtotestforrecoverabilitymusttakeintoaccountthepossibleoutcomesthatexistedatthebalance-sheetdate,includingafuturesale.CPAsshouldnotrevisethisassessmentforasaledecisionmadeafterthebalance-sheetdateandshouldcollectdocumentationandsupportingevidenceonatimelybasisforeventsnearsuchadate.Animpairmentlossiscalculatedandreportedinthesamewayitisforassetsheldandusedbecausethisistheasset’sstatusatthebalance-sheetdate.
Companiesmustadjustthecarryingamountsofassets(includinggoodwill)thatarepartofadisposalgroupclassifiedasheldforsalenotcoveredbyStatementno.144inaccordancewithotherapplicableGAAPbeforemeasuringthegroup’sfairvalue.Along-livedassetheldforsalemustbemeasuredatthelowerofitscarryingamountorfairvaluelesscosttosell—theincrementaldirectcoststhecompanywouldnothaveincurredifnotforthedecisiontosell.Examplesofsuchcostsincludebrokercommissions,legalandtitletransferfeesandclosingcostsnecessarytotransfertitle.Excludeexpectedfuturelossesfromoperations
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