1、外文翻譯-資產減值及處置 本科畢業論文設計 外 文 翻 譯外文題目 Asset Impairment and Disposal 外文出處 Journal of Accountancy. New York 外文作者 David T ，Randall W Luecke 原文：Asset Impairment and DisposalEXECUTIVE SUMMARY1. To establish a single model businesses can follow, FASB issued Statement no. 144, Accounting for the Impairment or

2、Disposal of Long-Lived Assets. FASB intends it to resolve implementation issues that arose from its predecessor, Statement no. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be disposed of2. Impairment exists when the carrying amount of a long-lived asset or ass

3、et group exceeds its fair value and is nonrecoverable. CPAs should test for impairment when certain changes occur, including a significant decrease in the market price of a long-lived asset, a change in how the company uses an asset or changes in the business climate that could affect the assets val

4、ue.3.Fair value is the amount an asset could be bought or sold for in a current transaction between willing parties. Quoted prices in active markets are the best evidence of fair values. Because market prices are not always available, CPAs should base fair-value estimates on the best information ava

5、ilable or use valuation techniques such as the expected-present-value method or the traditional-present-value method.4.When a compant recognizes an impairment loss for an asset group, it must allocate the loss to the assets in the group on a pro rata basis. It must also disclose in the notes to the

6、financial statements a description of the impaired asset and the facts and circumstances leading to the impairment.For many years, companies and other entities accounted for the disposal or expected disposal of long-lived assets that were a segment of a business using one set of rules and the dispos

7、al of long-lived assets that were not a segment of a business using another standard. To establish a single model for all long-lived assets, FASB issued Statement no. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The new standard supersedes Statement no. 121, Accounting for th

8、e Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of and a portion of APB Opinion no. 30, Reporting the Results of OperationsReporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions. FASB inte

9、nds Statement no. 144 to resolve significant implementation issues that arose from Statement no. 121. This article explains the new guidance and how CPAs can implement it. TESTING LONG-LIVED ESTIMATING FAIR VALUE Fair value is an assets purchase or sale price in a current transaction between willing

10、 parties. The best evidence of fair value is prices quoted in active markets, such as the price for a stock listed on a stock market. CPAs must use this amount to value assets if it is available. Because market prices are not available for many long-lived assets such as equipment, fair value estimat

11、es must be based on the best information available, including prices for similar assets. While CPAs can use other valuation techniques, present value is often the best for estimating fair value. FASB Concepts Statement no. 7, Using Cash Flow Information and Present Value in Accounting Measurements,

12、discusses two present-value techniques CPAs may use. DISCLOSING IMPAIRMENT LOSSESWhen a company recognizes an impairment loss for an asset group, it must allocate the loss to the long-lived assets in the group on a pro rata basis using their relative carrying amounts. There is an exception when the

13、loss allocated to an individual asset reduces its carrying amount below fair value. If CPAs can determine fair value without undue cost and effort, the asset should be carried at this amount. This requires an additional allocation of the impairment loss explained below . The adjusted carrying value

14、after the allocation becomes the new cost basis for depreciation amortization over the assets remaining useful life. A business must include an impairment loss in the income from continuing operations before income taxes line on its income statement. When a subtotal such as income from operations is

15、 present, CPAs should include the impairment loss in determining that amount. Other required information companies must disclose in the notes to the financial statements includes a A description of the impaired long-lived asset and the facts and circumstances leading to its impairment. b If not sepa

16、rately presented on the face of the statement, the amount of the impairment loss and the caption in the income statement or the statement of activities that includes the loss. c The method or methods used to determine fair value. d If applicable, the segment in which the impaired long-lived asset is

17、 reported under FASB Statement no. 131, Disclosures about Segments of an Enterprise and Related Information. ASSETS DISPOSED OF OTHER THAN BY SALEA company must continue to classify long-lived assets it plans to dispose of by some method other than by sale as held and used until it actually gets rid

18、 of them. Other disposal methods include abandonment, exchange for a similar productive asset or distribution to owners in a spin-off. A company should report long-lived assets to be abandoned or distributed to owners that consist of a group of assets and liabilities that are a “component of an enti

19、ty in the income statement as discontinued operations. If the assets are not a component, CPAs should report their disposal as part of the companys income from continuing operations. Statement no. 144 defines a component of an entity as operations and cash flows that can be clearly distinguished bot

20、h operationally and for financial reporting purposes from the rest of the entity. A component may be a Reportable segment or an operating unit, as defined in Statement no. 131. a reporting unit, as defined in Statement no. 142. A subsidiary or an asset group. Statement no. 144 defines asset group as

21、 “assets to be disposed of together as a group in a single transaction and liabilities directly associated with those assets that will be transferred in the transaction. A long-lived asset a company will abandon is considered disposed of when the company stops using it. A temporarily idle asset is n

22、ot accounted for as abandoned. If an entity plans to abandon a long-lived asset before its estimated useful life, it will treat the asset as held and used, test it for impairment and revise depreciation estimates in accordance with Opinion no. 20. Continued use of such a long-lived asset demonstrate

23、s service potential the unit is useable , and hence, fair value would be zero only in unusual circumstances. During use before abandonment, the company should depreciate the asset so that at disposal or abandonment, its carrying value equals its salvage value. This amount should not be less than zer

24、o. A long-lived asset to be distributed to owners or exchanged for a similar productive asset is considered disposed of when it is distributed or exchanged. When the asset is classified as held and used, any test for recoverability must be based on using the asset for its remaining useful life, assu

25、ming disposal will not occur. If the carrying amount exceeds fair value at disposal, the company must recognize an impairment loss. LONG-LIVED ASSETS TO BE SOLD A company must classify a long-lived asset it will sell as held for sale in the period it meets all of these criteria: Management with the

26、authority to approve the action commits to a plan to sell. The asset is available for immediate sale in its present condition, subject only to terms that are usual and customary when selling such assets. The company has initiated an active program to locate a buyer. The sale is probable and the asse

27、t transfer is expected to qualify as a completed sale within one year there are some circumstances beyond the entitys control that may extend the time for completion beyond one year . The company is actively marketing the asset at a reasonable price in relation to its current fair value. If the comp

28、any meets the above criteria after the balance-sheet date but before it issues its financial statements, it must continue to classify the asset as held and used. In the notes to the financial statements, the company must disclose the facts and circumstances leading to the expected disposal, the like

29、ly manner and timing of the disposal andif not separately shown on the face of the statementthe carrying amount s of the major classes of assets and liabilities included in the disposal group. If the company tests the asset for recoverability at the balance-sheet date, it should do so on a held-and-

30、used basis. Future cash flow estimates used to test for recoverability must take into account the possible outcomes that existed at the balance-sheet date, including a future sale. CPAs should not revise this assessment for a sale decision made after the balance-sheet date and should collect documen

31、tation and supporting evidence on a timely basis for events near such a date. An impairment loss is calculated and reported in the same way it is for assets held and used because this is the assets status at the balance-sheet date. Companies must adjust the carrying amounts of assets including goodw

32、ill that are part of a disposal group classified as held for sale not covered by Statement no. 144 in accordance with other applicable GAAP before measuring the groups fair value. A long-lived asset held for sale must be measured at the lower of its carrying amount or fair value less cost to sellthe

33、 incremental direct costs the company would not have incurred if not for the decision to sell. Examples of such costs include broker commissions, legal and title transfer fees and closing costs necessary to transfer title. Exclude expected future losses from operations. Assets classified as held for

34、 sale are not depreciated or amortized. REPORTING DISCONTINUED OPERATIONS An entity must report the results of operating a component it has either disposed of or classified as held for sale in discontinued operations if it meets both of these conditions: The components operations and cash flows have

35、 been or will be eliminated from the ongoing operations as a result of the disposal. The entity will not have any significant continuing involvement in the components operations after the disposal. In a period when an entity disposes of a component, the income statement of a business or the statemen

36、t of activities of an NPO must report the results of the components operations as discontinued operations. The entity would recognize the gain or loss from classifying the component as held for sale or disposal in discontinued operations. If the disposal group is a component of an entity, as in the

37、earlier ABC example, the components operations results a $400,000 loss are included in discontinued operations for year 1. The $220,000 loss on the disposal group is part of discontinued operations in year 1. The year 2 income statement will includeas discontinued operationsthe components operations

38、 for January through disposal in May, with the $15,000 gain on disposal also reported here. Discontinued operations less applicable taxes or benefits must be reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes. ABC will report the res

39、ults of discontinued operations in its year 1 income statement, as shown in exhibit 4. A company must disclose the gain or loss it recognizes when it classifies an asset as held for sale or disposal on either the face of the income statement or in the notes. Adjustments related to disposing of a com

40、ponent of an entity in a prior period, which the company reported as discontinued operations, must be classified separately in discontinued operations in the current period. A gain or loss on a long-lived asset that is not an entity component must be included in income from continuing operations bef

41、ore income taxes in the income statement. If the entity uses a subtotal such as “income from operations, it must include the gains or losses there.PRESENTATION AND DISCLOSUREA company must present a long-lived asset held for sale separately in its financial statements. Major classes of assets and li

42、abilities held for sale must not be offset and presented as one amount, they must be separately disclosed either on the face of the statement itself or in the notes. Statement no. 144 requires a company to disclose information in the notes for a period in which it either sells a long-lived asset or

43、classifies it as held for sale. Companies must disclose The facts and circumstances leading to the expected disposal, the likely manner and timing and, if not separately presented, the carrying amount s of major classes of assets and liabilities included in the disposal group. The loss recognized fo

44、r any initial or subsequent write-down to fair value less cost to sell or a gain not more than the cumulative loss previously recognized for a write-down to fair value less cost to sell. The gain or loss on sale of the long-lived asset. CPAs should do this if these gains and losses are not separatel

45、y presented on the face of the income statement, the caption in the income statement or statement of activities. If applicable, the revenue and pretax profit or loss reported in discontinued operations.If applicable, the segment in which the long-lived asset is reported under Statement no. 131. If a

46、n entity decides not to sell a long-lived asset previously classified as held for sale, or removes an asset or liability from a disposal group, it must describe in the notes the facts and circumstances leading to the change in plan and its effect on operations for that period and any prior period pr

47、esented. Foreign source：David T Meeting，Randall W Luecke：Asset impairment and disposal，Journal of AccountancyJ. New York: Mar 2002. Vol. 193, Iss. 3資產減值及處置建立一個單一的業務模式可以遵循財務會計準那么委員會發布減值或處置長期資產聲明第144號。財務會計準那么委員會打算解決執行問題，從它的前身，第121號聲明出現，長期資產減值和長期資產被處置。當存在減值的長期資產或資產組的賬面價值超過其公允價值，是不可恢復的。注冊會計師應當進行減值測試時發生某

48、些變化，包括市場價格的大幅度降低如何使用資產或影響公允價值是一種資產可以購置或出售在目前的交易各方之間愿意金額。活潑市場報價是公允價值的最好證據。由于市場價格不總是可用，注冊會計師要立足現有或使用估值技術，如預期的現值法或傳統現值法最正確信息公值的估計當一個公司認識到一個資產組減值損失，必須按比例分配的根底上對資產損失。它也必須附注中披露導致減值財務報表減值資產描述的事實和情況。多年來，公司和其他實體是一個業務部門使用一套規處置標準。所有的長期資產的單一模式，財務會計準那么委員會發布了減值或處置長期資產144號聲明新標準取代第121號聲明，長期資產減值和長期資產進行處置及局部意見。提交報告一個

49、業務出售的影響，特別，不尋常和不經常發生的事件和交易的結果第144號財務會計準那么委員會聲明解決重大的執行問題，從第121號聲明。這篇文章解釋了新的指導，以及如何注冊會計師可以實現公允價值是指資產的購置或愿意在雙方之間目前交易的銷售價格。公允價值的最好證據是在活潑市場報價，如對股市上市的股票價格。注冊會計師必須使用此金額價值的資產，如果它是可用。由于市場價格不單是長期資產，如設備使用公允價值估計必須根據可獲得的最正確信息，包括類似資產的價格。雖然注冊會計師可以使用其他估值方法，現值往往是最好的估計公值。財務會計準那么委員會第7號概念公告，討論了注冊會計師可以使用現值技術，會計計量中使用現金流量

50、信息和現值當一個公司認識到一個資產組減值損失，必須按比例分配的根底上長期資產的損失，在集團利用其相對賬面值如果會計師事務所可以判斷和努力防止不必要的本錢的公允價值，資產應當按這一數額。這需要減值損失的額外撥款。調整后的賬面值將變為分配后的折舊攤銷在資產的剩余使用壽命新的本錢根底一個企業必須稅前收入就其持續經營收益減值損失。如經營，注冊會計師應當確定減值損失的金額。其他所需資料的公司必須在附注中披露的財務報表，包括一說明受損長期資產的事實和情況，導致其受損。二單獨提交關于的聲明，該減值損失金額在標題或損益表的活動，其中包括損益表。三方法或用于確定公允價值的方法如果適用，根據財務會計準那么委員會第131號公布的聲明受損長期資產局部相關資料披露其他出售資產公司必須繼續進行分類，長期資產處置