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1、外文文献翻译原文：EarningsManagementUsingDiscontinuedOperationsWhenmakingfirm-valuationdecisions,investorsplaceahighervalueonitemsofincomeexpectedtobepersistentinthefuture.Presumablytoaidusers’valuationdecisions,GAAPgenerallyrequiresthatmaterialnonrecurringitemsbeseparatelyd
2、isclosedinthefinancialstatements.However,theseparationofnetincomeintorecurringandnonrecurringcomponentsalsogivesmanagerstheopportunitytomisleadinvestors,bymisclassifyingincomeandexpenseitems.Forexample,amanagerwantingtoincreasefirmvaluationcanmisclassifyrecurringexp
3、ensesasnonrecurring,misleadinginvestorsastothepersistenceoftheincomeincrease.Intheaccountingliterature,thistypeofearningsmanagementiscalledclassificationshifting.McVay_2006_discussestworeasonswhyclassificationshiftingcanbearelativelylow-costmethodformanagingearnings
4、.First,unlikeaccrualmanagementorrealactivitymanipulation,thereisno“settling-up”inthefutureforpastearningsmanagement.Ifamanagerdecidestoincreaseearningsusingincome-increasingaccruals,then,atsomepoint,theseaccrualsmustreverse.Thereversaloftheseaccrualsreducesfuturerep
5、ortedearnings.Ifamanagerdecidestoincreaseearningsbymanagingrealactivities,suchasreducingresearchanddevelopmentexpenditures,thenthislikelyleadstofewerincome-producingprojectsandreducedearningsinthefuture.Incontrast,classificationshiftinginvolvessimplyreportingrecurri
6、ngexpensesinanonrecurringclassificationontheincomestatement,havingnoimplicationsforfutureearnings.Second,becauseclassificationshiftingdoesnotchangenetincome,itispotentiallysubjecttolessscrutinybyauditorsandregulatorsthanformsofearningsmanagementthatchangenetincome.D
7、iscontinuedoperationsrepresenttheincomeandcashflowsofaportionofacompanythathasbeen_orwillbe_discontinuedfromthecontinuingoperationsofthecompany.UnderSFASNo.144,thegainorlossfordiscontinuedoperationsiscomprisedofthreeamounts.Thefirstamountistheoperatingincomeorlossfr
8、omtheoperationsofthecomponentbeingdiscontinuedfortheentireyearinwhichthedecisiontodiscontinueismade.Thesecondamountisthegainorlossfromdisp
