时态法与期末汇率法外文翻译Word格式.docx
- 文档编号:13557054
- 上传时间:2022-10-11
- 格式:DOCX
- 页数:8
- 大小:23.54KB
时态法与期末汇率法外文翻译Word格式.docx
《时态法与期末汇率法外文翻译Word格式.docx》由会员分享,可在线阅读,更多相关《时态法与期末汇率法外文翻译Word格式.docx(8页珍藏版)》请在冰豆网上搜索。
本科毕业论文(设计)
外文翻译
外文题目Thetemporalmethodversustheclosingratemethod
外文出处ComparativeInternationalAccounting(8thEdition)
[M].FinancialTimes/PrenticeHall,2005.394-398.
外文作者ChristopherNobes,RobertBParker.
原文:
Thetemporalmethodversustheclosingratemethod
Theoppositionbetweenthetemporalmethodandtheclosingratemethodthroughouttheaccountancyworldisprobablythemostimportantaspectofthetranslationproblem.Note,however,thatthisoppositionwouldnotariseundercurrentvalueaccounting,whenthetwomethodswouldgivethesameresults.Itistheauthor’sopinionthat,onlythetemporalmethodcanbejustifiedforusewithhistoricalcostaccounting.Thefundamentalobjectionoftheaccountingtheoristtotheclosingratemethodunderhistoricalcostaccountingcanbestatedverysimplyasfollows.Theclosingratemethod,whenappliedtoanassetstatedintheforeignsubsidiary’sbalancesheetathistoricalcost,producesatranslatedfigurethathasnomeaning:
itisnotthehistoricalcostintermsofthehomecurrency;
neitherisitthecurrentreplacementcostnorthenetrealizablevalue:
‘Thenumberisinfactnothingexcepttheproduceofmultiplyingtwounrelatednumbers’(Lorensen,1972,page107).TheleadingGermantheorist,BussevonColbe,makesthesamepointrathermorepolitely:
‘translationofhistoricalcosts,expressedinforeigncurrency,atthecurrentratedoesnotresultinavaluationthatcanbeinterpretedinanymeaningfulsense’(Grayetal.,1993,page327).Thisfaultoftheclosingratemethodissofundamentalthat,intheopinionofmanyaccountingtheorists,itmakestheuseofthemethodquiteunacceptable.
ThecasefortheclosingratemethodwassetoutbytheBritishAccountingStandardsCommittee(ASC)inED21(issuedin1977),notablyparagraphs9and10:
9Theclosingratemethodisbasedontheconceptthatareportingcompanyhasanetinvestmentinaforeignoperationandwhatisatriskfromcurrencyfluctuationsisthenetinvestment…
10Theclosingratemethodpossessesthefollowingadvantages:
(a)Itdealseffectivelywiththesituationwherefixedassetslocatedoverseashavebeenfinancedbyforeigncurrencyborrowingsandachangeintheexchangerateresultsinoffsettinggainsandlosses.
(b)Therelationshipexistingbetweenbalancesinaccountsasoriginallypreparedinaforeigncurrencyispreservedinthetranslatedaccounts,whereasthisisnotthecasewherehistoricalratesareusedfortranslatingcertainassets.
Preservationofrelationshipsinthesubsidiary’sfinancialstatements
Paragraph10(b)fromtheabovequotationreferstoaninterestingandsomewhatdisturbingaspectofthetemporalmethod,namelythattheprocessoftranslationcanchangetherelationshipbetweenindividualitemsinafinancialstatement.Thisarisesbecausedifferentexchangeratesareusedtotranslatedifferentitems:
thehistoricalrateisusedforfixedassetsandtheclosingrateformostotheritems.Thustherelativeweightoffixedassetsinthetranslatedbalancesheetwillbedifferentfromthatshowninthesubsidiary’sforeigncurrencybalancesheet.Thiswillaffect,amongothermatters,thedebt/equityratio.Moresignificantly,inthetranslatedprofitandlossaccount,theweightgiventodepreciation(derivedfromfixedassetstranslatedatahistoricalrate)willbedifferentfromthatshownintheforeigncurrencyaccounts.Iftheforeigncurrencyhasfalleninvalue(relativetothehomecurrency)sincethefixedassetswereacquired,thiswillhavetheeffectofincreasingtherelativeimportanceofthedepreciationexpenseinthetranslatedprofitandlossaccount.Thiscouldwellturnaprofitreportedinthesubsidiary’sforeigncurrencyaccountsintoalossinthetranslatedaccounts.Theclosingratemethoddoesnotsufferfromthisdisadvantage.Asthesameexchangerateisusedforallitems,thetranslatedaccountsarealwaysalineartransformationoftheoriginalforeigncurrencyaccounts.
Toproponentsofthetemporalmethod,thisisahighlyawkwardresultandtheyneedalltheiringenuitytoexplainhowitisrightforaprofitinonecurrencytobeturnedintoalosswhentranslatedintoanothercurrency.However,therearegoodargumentstobemade.First,itshouldbestressedthatthepurposeoftranslationistopermitthepreparationofconsolidatedaccounts.Asageneralrule,thetranslatedfiguresofthesubsidiary’sassets,liabilities,revenuesandexpensesareaggregatedwiththoseoftheparentcompanyintheconsolidatedfinancialstatements;
theforeignsubsidiary’sseparateentityislostintheconsolidatedaccounts.Hence,thefactthatithasacertaindebt/equityratioasanindividualcompanyisirrelevantfromtheviewpointoftheconsolidatedfinancialstatements.Conversely,ifaperson(e.g.aminorityshareholderor
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 时态 期末 汇率 外文 翻译
![提示](https://static.bdocx.com/images/bang_tan.gif)