实用资产减值会计

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1、外文翻译原文：PracticalassetsdevaluationaccountingThelast12monthshavebeenmarkedbyunprecedentedvolatilityinglobalmarketsandsignsofeconomicdownturn.Thesemarketconditionswillcausemanycompaniestorevisittheirbusinessplansandrevisefinancialforecasts.Asaresultofthesechangesmanagementmayexperiencesignific

2、antimpairmentchargesinthecomingmonths.Thebasicprincipleisthatanassetmaynotbecarriedinthebalancesheetatmorethanitsrecoverableamount.Anasset’srecoverableamountrepresentsitsgreatestvaluetothebusinessintermsofthecashflowsthatitcangenerate.Ihatisthehigherof:Theamountforwhichtheassetcouldbesoldin

3、anarm’slengthtransactionbetweenknowledgeableandwillingparties,netofcostsofdisposal(fairvaluelesscoststosell);andthepresentvalueofthefuturecashflowsthatareexpectedtobederivedfromtheasset(valueinuse).Theexpectedfuturecashflowsincludethosefromtheasset’scontinueduseinthebusinessandthosefromitsu

4、ltimatedisposal.Valueinuse(VIU)isexplicitlybasedonpresentvaluecalculations.AccountingforassetimpairmentswasnotpracticedinChinauntil1998whentheChinesegovernmentissuedtheAccountingRegulationforListedCompanies.Accordingtotheregulation,listedcompaniesweremandatedtorecognizeassetimpairmentsforfo

5、urcategoriesofassets,includingaccountsreceivable,inventories,short-terminvestments,andlong-terminvestments.Therequirementwasexpandedin2001toallcompanieswithfouradditionalcategoriesofassets,includingfixedassets,constructioninprogress,intangibleassets,andentrustedloanswhentheministryoffinance

6、promulgatedtheAccountingSystemforBusinessEnterprises.Whilediscretionforimpairmentreversalswasexplicitlygrantedinthe2001regulation,detaileddisclosurerequirementswerenotavailableuntil2003whentheministryoffinanceissued“QuestionsandAnswersNo.2:Implementingthe2001AccountingSystemforBusinessEnter

7、prisesandRelatedAccountingStandards.”Accordingtothisdocument,listedcompaniesmustdisclose,inaseparatetable,twotypesofdecreasesinassetimpairmentprovisionaccounts:(1)unrealizedreversalsduetotherecoveryofassetimpairments,and(2)write-offsduetothedisposalofass