會(huì)計(jì)專(zhuān)業(yè)外文翻譯----公允價(jià)值測(cè)量-會(huì)計(jì)審計(jì)(編輯修改稿)
2025-02-24 07:11 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 it is not discussed in this discussion paper. However, ments on that discussion paper relating to the measurement of fair value will be considered in the development of the exposure draft of an IFRS on fair value measurement as well as in the Conceptual Framework project. Issue 1. SFAS 157 and fair value measurement guidance in current IFRSs 6 IFRSs require some assets, liabilities and equity instruments to be measured at fair value in some circumstances. However, guidance on measuring fair value is dispersed throughout IFRSs and is not always consistent. The IASB believes that establishing a single source of guidance for all fair value measurements required by IFRSs will both simplify IFRSs and improve the quality of fair value information included in financial reports. A concise definition of fair value bined with consistent guidance that applies to all fair value measurements would more clearly municate the objective of fair value measurement and eliminate the need for constituents to consider guidance dispersed throughout IFRSs. 7 The IASB emphasises that the Fair Value Measurements project is not a means of expanding the use of fair value in financial reporting. Rather, the objective of the project is to codify, clarify and simplify existing guidance that is dispersed widely in IFRSs. However, in order to establish a single standard that provides uniform guidance for all fair value measurements required by IFRSs, amendments will need to be made to the existing guidance. As discussed further in Issue 2, the amendments might change how fair value is measured in some standards and how the requirements are interpreted and applied. 8 In some IFRSs the IASB (or its predecessor body) consciously included measurement guidance that results in a measurement that is treated as if it were fair value even though the guidance is not consistent with the fair value measurement objective. For example, paragraph B16 of IFRS 3 Business Combinations provides guidance that is inconsistent with the fair value measurement objective for items acquired in a business bination such as tax assets, tax liabilities and employee benefit assets or liabilities for defined benefit plans. Furthermore, some IFRSs contain measurement reliability criteria. For example, IAS 16 Property, Plant and Equipment permits the revaluation model to be used only if fair value can be measured reliably This project will not change any of that guidance. Rather, that guidance will be considered project by project. However, the IASB plans to use the Fair Value Measurements project to establish guidance where there currently is none, such as in IAS 17 Leases, as well as to eliminate inconsistent guidance that does not clearly articulate a single measurement objective. 9 Because SFAS 157 establishes a single source of guidance and a single objective that can be applied to all fair value measurements, the IASB has reached the preliminary view that SFAS 157 is an improvement on the disparate guidance in IFRSs. However, as discussed in more detail below, the IASB has not reached preliminary views on all provisions of SFAS 157. Issue 2. Differences between the definitions of fair value in SFAS 157 and in IFRSs 10 Paragraph 5 of SFAS 157 defines fair value as ‘the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.’ Byparison, fair value is generally defined in IFRSs as ‘the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction’ (withsome slight variations in wording in different standards). Thedefinition in SFAS 157 differs from the definition in IFRSs in three important ways: (a)The definition in SFAS 157 is explicitly an exit (selling) price. Thedefinition in IFRSs is neither explicitly an exit price nor an entry (buying) price. (b)The definition in SFAS 157 explicitly refers to market participants. The definition in IFRSs refers to knowledgeable, willing parties in an arm’s length transaction. (c)For liabilities, the definition of fair value in SFAS 157 rests on the notion that the liability is tran
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