实用资产减值会计【外文翻译】

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

2、mpairmentchargesinthecomingmonths.Thebasicprincipleisthatanassetmaynotbecarriedinthebalancesheetatmorethanitsrecoverableamount.Anasset'srecoverableamountrepresentsitsgreatestvaluetothebusinessintermsofthecashflowsthatitcangenerate.Ihatisthehigherof:Theamountforwhichtheassetcouldbesoldinanarm'sl

3、engthtransactionbetweenknowledgeableandwillingparties,netofcostsofdisposal(fairvaluelesscoststosell);andthepresentvalueofthefuturecashflowsthatareexpectedtobederivedfromtheasset(valueinuse).Theexpectedfuturecashflowsincludethosefromtheasset'scontinueduseinthebusinessandthosefromitsultimatedispo

4、sal.Valueinuse(VIU)isexplicitlybasedonpresentvaluecalculations.AccountingforassetimpairmentswasnotpracticedinChinauntil1998whentheChinesegovernmentissuedtheAccountingRegulationforListedCompanies.Accordingtotheregulation,listedcompaniesweremandatedtorecognizeassetimpairmentsforfourcategoriesofas

5、sets,includingaccountsreceivable,inventories,short-terminvestments,andlong-terminvestments.Therequirementwasexpandedin2001toallcompanieswithfouradditionalcategoriesofassets,includingfixedassets,constructioninprogress,intangibleassets,andentrustedloanswhentheministryoffinancepromulgatedtheAccoun

6、tingSystemforBusinessEnterprises.Whilediscretionforimpairmentreversalswasexplicitlygrantedinthe2001regulation,detaileddisclosurerequirementswerenotavailableuntil2003whentheministryoffinanceissued‘‘QuestionsandAnswersNo.2:Implementingthe2001AccountingSystemforBusinessEnterprisesandRelatedAccount

7、ingStandards.’’Accordingtothisdocument,listedcompaniesmustdisclose,inaseparatetable,twotypesofdecreasesinassetimpairmentprovisionaccounts:(1)unrealizedreversalsduetotherecoveryofassetimpairments,and(2)write-offsduetothedisposalofa