利潤表中的投資性房地產(chǎn)在公允價值模式下的變化：來自于香港的證據(jù)外文翻譯(已修改)
2025-06-01 15:36 本頁面
【正文】 1 中文 2900 字 本科畢業(yè) 論文 （ 設(shè)計 ） 外 文 翻 譯 外文題目 Valuerelevance of presenting changes in fair value of investment properties in the ine statement: evidence from Hong Kong 外文出處 Accounting and Business Research 外文作者 Stella So and Malcolm Smith 原文 ： Valuerelevance of presenting changes in fair value of investment properties in the ine statement: evidence from Hong Kong IAS 40 (2020) represents the first time that the IASB permits a fair value model for nonfinancial assets (IASCF, 2020c). Under the fair value model, investment properties are carried at fair values and changes in fair value, whether up or down, are included in the profit or loss for the period and presented in the ine state ments. Supporters of the fair value model believe that fair values give users of financial statements more useful information than other measures, such as depreciated cost, and changes in fair value are inextricably linked as integral ponents of the financial performance of an investment property and are therefore presented in the ine statements (IASCF, 2020c). Although IAS 40 (2020) permits entities to choose between a fair value model or a cost model, the Basis for Conclusions on IAS 40 (2020) states clearly that it is highly unlikely that a subsequent change from the fair value model to the cost model can be made on the grounds of more appropriate presentation (IASCF, 2020c). However, Penman (2020) does not entirely agree。 he evaluates historical cost and fair value accounting from two perspectivesequity valuation and stewardship and 2 concludes that while fair value accounting is a plus at a conceptual level, the minuses add up with fair value implemented as exit price (whether estimated or observed in active markets) and the problems with historical cost accounting remains unresolved. SingletonGreen (2020) summarises the problems of fair value accounting as: (1) the lack of active markets for most assets and liabilities, which means that most fair value measurements are estimates and are highly subjective and potentially unreliable。 (2) costly information, especially for smaller panies。 and (3) the recognition of profits based on fair values, which mean that unrealised profits or losses from cha nges in fair value are recognised, and result in greater volatility and unpredictability. This study focuses on the third issue, the presentation of changes in fair value of investment properties, in the ine statement versus the revaluation reserve. Empirical studies assessing the relevance and reliability of fair value accounting versus historical costbased accounting focus on financial instruments, and the results from these studies are generally mixed. Barth (1994) finds that, for a sample of US banks with data from 1971–1990, disclosed fair value estimates of investment securities provide significant incremental explanatory power for bank share prices beyond that provided by historic costs. Fair value gains and losses of investment securities (constructed from two annually disclosed fair value estimates) are, however, found to have no significant incremental explanatory power for annual returns (changes in share price), due to the increased measurement errors (Barth, 1994). Similar results are obtained in Barth et al. (1995), Barth et al. (1996), Eccher et al. (1996) and Nelson (1996), all using bank data. Results from Carroll et al. (2020) differ。 i
畢業(yè)設(shè)計相關(guān)推薦
鄂ICP備17016276號-1