簡介:2068單詞,單詞,11600英文字符,英文字符,4000漢字漢字出處出處SOURCEFORNAROJAMESM,BUTTERMILCHRITAJ,BIONDOJOHNACCOUNTINGFORNONMONETARYEXCHANGESJCPAJOURNAL,FEB2008,VOL78ISSUE23841外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯FORNAROJAMESM,BUTTERMILCHRITAJ,BIONDOJOHN原文ACCOUNTINGFORNONMONETARYEXCHANGESBUSINESSESUSENONMONETARYEXCHANGESFORAVARIETYOFREASONSTHESERANGEFROMROUTINETRADEINSOFOLDEQUIPMENTTOSOPHISTICATEDEXCHANGESOFREALESTATEINDECEMBER2004,FASBISSUEDSFAS153,EXCHANGESOFNONMONETARYASSETS,ANAMENDMENTOFAPBOPINIONNO29,WHICHPRESERVESTHEFUNDAMENTALPRINCIPLETHATTHEACCOUNTINGFORNONMONETARYTRANSACTIONSSHOULDBEBASEDONTHEFAIRVALUESOFTHEASSETSEXCHANGEDACCORDINGLY,ANONMONETARYASSETRECEIVEDINARECIPROCALEXCHANGESHOULDBERECORDEDUSINGTHEFAIRVALUEOFTHEASSETRELINQUISHED,ORTHEVALUEOFTHEASSETRECEIVEDIFITISMORECLEARLYEVIDENTSINCE1973,APBO29,ACCOUNTINGFORNONMONETARYTRANSACTIONS,PERMITTEDANEXCEPTIONTOTHISFAIRVALUEPRINCIPLEFOREXCHANGESINVOLVING“SIMILARPRODUCTIVEASSETS“SUCHEXCHANGESWEREGENERALLYMEASUREDANDRECOGNIZEDBYREFERENCETOTHEBOOKVALUEOFTHEASSETSRELINQUISHEDSFAS153ELIMINATESTHATEXCEPTION,BUTINTRODUCESANEWEXCEPTIONFOREXCHANGESTHATLACK“COMMERCIALSUBSTANCE“APBO29ALSOADDRESSEDOTHERTYPESOFNONMONETARYTRANSACTIONS,INCLUDING“NONRECIPROCAL“TRANSFERSWITHOWNERSEG,DIVIDENDSINKINDOROTHERPARTIESEG,INKINDCHARITABLECONTRIBUTIONSTHESETRANSACTIONSWERENOTIMPACTEDBYSFAS153THISSTANDARDWASISSUEDASPARTOFTHESHORTTERMCONVERGENCEPROJECTWITHTHEINTERNATIONALACCOUNTINGSTANDARDSBOARDIASBINFACT,FASBLARGELYADOPTEDTHEREVISIONSPREVIOUSLYMADETOIAS16,PROPERTY,PLANTANDEQUIPMENTIMPLEMENTINGSFAS153REQUIRESANUNDERSTANDINGOFTHETERM“COMMERCIALSUBSTANCE“ANDHOWTHISCONCEPTINTRODUCESAUNIQUEELEMENTOFSUBJECTIVITYTOTHEACCOUNTINGFORNONMONETARYTRANSACTIONSGIVENTHELACKOFIMPLEMENTATIONGUIDANCEINSFAS153,SPECIFICILLUSTRATIONSAREPROVIDEDBELOWANDCONTRASTEDWITHPRIORPRACTICETHEAUTHORSBELIEVETHATSFAS153NOTONLYPRESENTSANUMBEROFINTERESTINGANDCHALLENGINGISSUES,ITALSOINTRODUCESELEMENTSOFPROFESSIONALJUDGMENTTHATARELIKELYTORECURINFUTURESTANDARDS2005CERTAINTRANSACTIONSARESPECIFICALLYEXCLUDEDFROMITSSCOPEBUSINESSCOMBINATIONSNONMONETARYEXCHANGESOFASSETSBETWEENENTITIESUNDERCOMMONCONTROLNONMONETARYASSETSORSERVICESACQUIREDINEXCHANGEFORTHEREPORTINGENTITYSCOMMONSTOCKSTOCKDIVIDENDSANDSPLITSATRANSFEROFASSETSINEXCHANGEFORANEQUITYINTERESTINTHATENTITYTRANSFERSOFFINANCIALASSETSANDCERTAINTRANSACTIONSBYOILANDGASPRODUCERSSFAS153ALSOAMENDSTHESCOPEOFSFAS140,ACCOUNTINGFORTRANSFERSANDSERVICINGOFFINANCIALASSETSANDEXTINGUISHMENTSOFLIABILITIES,TOINCLUDEEXCHANGESOFEQUITYMETHODINVESTMENTSFORSIMILARPRODUCTIVEASSETSDURINGITSDELIBERATIONSOVERSFAS153PARAA20,FASBCONSIDEREDAMENDINGTHESCOPEOFSFAS66,ACCOUNTINGFORSALESOFREALESTATE,TOALSOINCLUDEEXCHANGESOFREALESTATEFASBLATERDECIDEDTHATACCOUNTINGGUIDANCEFORRECIPROCALEXCHANGESOFREALESTATEWOULDREMAINWITHINTHESCOPEOFAPBO29ANEWFOCUSONCOMMERCIALSUBSTANCESFAS153REQUIRESTHATNONMONETARYEXCHANGESBERECORDEDUSINGTHEBOOKVALUEOFTHEASSETRELINQUISHEDAFTERAREDUCTIONFORIMPAIRMENT,IFAPPLICABLEIFONEOFTHEFOLLOWINGTHREECONDITIONSAPPLIESTHEFAIRVALUEOFTHEASSETRELINQUISHEDORRECEIVEDCANNOTBEDETERMINEDWITHINREASONABLELIMITSTHEREISANEXCHANGEOFINVENTORYFORINVENTORYTHATWILLBESOLDINTHESAMELINEOFBUSINESSTOFACILITATESALESTOCUSTOMERSTHETRANSACTIONLACKSCOMMERCIALSUBSTANCETHEFIRSTTWOCONDITIONSAREESSENTIALLYUNCHANGEDFROMAPBO29THETHIRDCONDITIONREPLACESTHEPRIOREXCEPTIONFORSIMILARPRODUCTIVEASSETS“COMMERCIALSUBSTANCE“ISANEWCONCEPTINUSGAAPANDPRESENTSUNIQUE,SUBJECTIVECHALLENGESFORPRACTITIONERSUNFORTUNATELY,FASBDIDNOTSPECIFICALLYDEFINETHISTERMTHECONCEPTFOCUSESONTHEBUSINESSPURPOSEORRATIONALEOFTHEEXCHANGE,ANDREQUIRESANEXAMINATIONOFCHANGESINTHEENTITYSECONOMICPOSITIONASARESULTOFTHETRANSACTIONESSENTIALLY,COMMERCIALSUBSTANCEEXISTS“IFTHEENTITYSFUTURECASHFLOWSAREEXPECTEDTOSIGNIFICANTLYCHANGEASARESULTOFTHEEXCHANGE“PARA2DFASBBELIEVESTHATCASHFLOWTESTSPROVIDE“OBJECTIVEEVIDENCE“OFTHE
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