美国会计准则

《美国财务会计准则第109号：所得税会计》：摘要与概述（英文版）

zzhg1 — Fri, 02 Nov 2007 01:27:00 GMT

（注：为了帮助大家更全面、系统地理解和掌握我国新所得税会计处理方法、资产负债表债务法和暂时性差异等内容，特在本博客发布《美国财务会计准则第109号：所得税会计》（英文版）：摘要与概述，希望大家结合《国际会计准则第12号：所得税》（最新英文版）一起来进行学习。）

Statement of Financial Accounting Standards No.109：Accounting for Income Taxes

FAS 109：Accounting for Income Taxes

FAS 109 Summary

This Statement establishes financial accounting and reporting standards for the effects of income taxes that result from an enterprise's activities during the current and preceding years.It requires an asset and liability approach for financial accounting and reporting for income taxes.This Statement supersedes FASB Statement No.96,Accounting for Income Taxes,and amendsor supersedes other accounting pronouncements listed in Appendix D.

Objectives of Accounting for Income Taxes

The objectives of accounting for income taxes are to recognize(a)the amount of taxes payable or refundable for the current year and(b)deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an enterprise's financial statements or tax returns.

Basic Principles of Accounting for Income Taxes

The following basic principles are applied in accounting for income taxes at the date of the financial statements:

a.A current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the current year.

b.A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and carryforwards.

c.The measurement of current and deferred tax liabilities and assets is based on provisions of the enacted tax law;the effects of future changes in tax laws or rates are not anticipated.

d.The measurement of deferred tax assets is reduced,if necessary,by the amount of any tax benefits that,based on available evidence,are not expected to be realized.

Temporary Differences

The tax consequences of most events recognized in the financial statements for a year are included in determining income taxes currently payable.However,tax laws often differ from the recognition and measurement requirements of financial accounting standards,and differences can arise between(a)the amount of taxable income and pretax financial income for a year and (b)the tax bases of assets or liabilities and their reported amounts in financial statements.

APB Opinion No.11,Accounting for Income Taxes,used the term timing differences for differences between the years in which transactions affect taxable income and the years in which they enter into the determination of pretax financial income.Timing differences create differences(sometimes accumulating over more than one year)between the tax basis of an asset

or liability and its reported amount in financial statements.Other events such as business combinations may also create differences between the tax basis of an asset or liability and its reported amount in financial statements.All such differences collectively are referred to as temporary differences in this Statement.

Deferred Tax Consequences of Temporary Differences

Temporary differences ordinarily become taxable or deductible when the related asset is recovered or the related liability is settled.A deferred tax liability or asset represents the increase or decrease in taxes payable or refundable in future years as a result of temporary differences and carryforwards at the end of the current year.

Deferred Tax Liabilities

A deferred tax liability is recognized for temporary differences that will result in taxable amounts in future years.For example,a temporary difference is created between the reported amount and the tax basis of an installment sale receivable if,for tax purposes,some or all of the gain on the installment sale will be included in the determination of taxable income in future years.Because amounts received upon recovery of that receivable will be taxable,a deferred tax liability is recognized in the current year for the related taxes payable in future years.

Deferred Tax Assets

A deferred tax asset is recognized for temporary differences that will result in deductible amounts in future years and for carryforwards.For example,a temporary difference is created between the reported amount and the tax basis of a liability for estimated expenses if,for tax purposes,those estimated expenses are not deductible until a future year.Settlement of that liability will result in tax deductions in future years,and a deferred tax asset is recognized in the current year for the reduction in taxes payable in future years.A valuation allowance is recognized if,based on the weight of available evidence,it is more likely than not that some portion or all of the deferred tax asset will not be realized.

Measurement of a Deferred Tax Liability or Asset

This Statement establishes procedures to(a)measure deferred tax liabilities and assets using a tax rate convention and(b)assess whether a valuation allowance should be established for deferred tax assets.Enacted tax laws and rates are considered in determining the applicable tax rate and in assessing the need for a valuation allowance.

All available evidence,both positive and negative,is considered to determine whether, based on the weight of that evidence,a valuation allowance is needed for some portion or all of a deferred tax asset.Judgment must be used in considering the relative impact of negative and positive evidence.The weight given to the potential effect of negative and positive evidence should be commensurate with the extent to which it can be objectively verified.The more negative evidence that exists(a)the more positive evidence is necessary and(b)the more difficult it is to support a conclusion that a valuation allowance is not needed.

Changes in Tax Laws or Rates

This Statement requires that deferred tax liabilities and assets be adjusted in the period of enactment for the effect of an enacted change in tax laws or rates.The effect is included in income from continuing operations.

Effective Date

This Statement is effective for fiscal years beginning after December 15,1992.Earlier application is encouraged.

INTRODUCTION

1.This Statement addresses financial accounting and reporting for the effects of income taxes 1 that result from an enterprise's activities during the current and preceding years.

2.FASB Statement No.96,Accounting for Income Taxes,which was issued in December 1987,superseded APB Opinion No.11,Accounting for Income Taxes.The effective date of Statement 96 was delayed to fiscal years that begin after December 15,1992.In March 1989, the Board began consideration of requests to amend Statement 96 to(a)change the criteria for recognition and measurement of deferred tax assets and various other requirements of Statement 96 and(b)reduce complexity.This Statement is the result of that reconsideration.

STANDARDS OF FINANCIAL ACCOUNTING AND REPORTING

Scope

3.This Statement establishes standards of financial accounting and reporting for income taxes that are currently payable and for the tax consequences of:

a.Revenues,expenses,gains,or losses that are included in taxable income of an earlier or later year than the year in which they are recognized in financial income

b.Other events that create differences between the tax bases of assets and liabilities and their

amounts for financial reporting

c.Operating loss or tax credit carrybacks for refunds of taxes paid in prior years and carryforwards to reduce taxes payable in future years.

This Statement supersedes Statement 96 and supersedes or amends other accounting pronouncements listed in Appendix D.

4.The principles and requirements of this Statement are applicable to:

a.Domestic federal(national)income taxes(U.S.federal income taxes for U.S.enterprises) and foreign,state,and local(including franchise)taxes based on income

b.An enterprise's 2 domestic and foreign operations that are consolidated,combined,or accounted for by the equity method

c.Foreign enterprises in preparing financial statements in accordance with U.S.generally accepted accounting principles.

5.This Statement does not address:

a.The basic methods of accounting for the U.S.federal investment tax credit(ITC)and for foreign,state,and local investment tax credits or grants(The deferral and flow-through methods as set forth in APB Opinions No.2 and No.4,Accounting for the“Investment Credit,”continue to be acceptable methods to account for the U.S.federal ITC.)

b.Discounting(Paragraph 6 of APB Opinion No.10,Omnibus Opinion—1966,addresses that subject.)

c.Accounting for income taxes in interim periods(other than the criteria for recognition of tax benefits and the effect of enacted changes in tax laws or rates and changes in valuation allowances.(APB Opinion No.28,Interim Financial Reporting,and other accounting pronouncements address that subject.)

Objectives and Basic Principles

6.One objective of accounting for income taxes is to recognize the amount of taxes payable or refundable for the current year.A second objective is to recognize deferred tax liabilities and assets for the future tax consequences of events 3 that have been recognized in an enterprise's financial statements or tax returns.

7.Ideally,the second objective might be stated more specifically to recognize the expected future tax consequences of events that have been recognized in the financial statements or tax returns.However,that objective is realistically constrained because(a)the tax payment or refund that results from a particular tax return is a joint result of all the items included in that return,(b)taxes that will be paid or refunded in future years are the joint result of events of the current or prior years and events of future years,and(c)information available about the future is limited.As a result,attribution of taxes to individual items and events is arbitrary and,except in the simplest situations,requires estimates and approximations.

8.To implement the objectives in light of those constraints,the following basic principles (the only exceptions are identified in paragraph 9)are applied in accounting for income taxes at the date of the financial statements:

a.A current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the current year.

b.A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and carryforwards.

c.The measurement of current and deferred tax liabilities and assets is based on provisions of the enacted tax law;the effects of future changes in tax laws or rates are not anticipated.

d.The measurement of deferred tax assets is reduced,if necessary,by the amount of any tax benefits that,based on available evidence,are not expected to be realized.

9.The only exceptions in applying those basic principles are that this Statement:

a.Continues certain exceptions to the requirements for recognition of deferred taxes for the areas addressed by APB Opinion No.23,Accounting for Income Taxes—Special Areas,as amended by this Statement(paragraphs 31-34)

b.Provides special transitional procedures for temporary differences related to deposits in statutory reserve funds by U.S.steamship enterprises(paragraph 32)

c.Does not amend accounting for leveraged leases as required by FASB Statement No.13, Accounting for Leases,and FASB Interpretation No.21,Accounting for Leases in a Business Combination(paragraphs 256-258)

d.Prohibits recognition of a deferred tax liability or asset related to goodwill(or the portion thereof)for which amortization is not deductible for tax purposes(paragraph 30)

e.Does not amend Accounting Research Bulletin No.51,Consolidated Financial Statements, for income taxes paid on intercompany profits on assets remaining within the group,and prohibits recognition of a deferred tax asset for the difference between the tax basis of the assets in the buyer's tax jurisdiction and their cost as reported in the consolidated financial statements

f.Prohibits recognition of a deferred tax liability or asset for differences related to assets and liabilities that,under FASB Statement No.52,Foreign Currency Translation,are remeasured from the local currency into the functional currency using historical exchange rates and that result from(1)changes in exchange rates or(2)indexing for tax purposes.

Temporary Differences

10.Income taxes currently payable4 for a particular year usually include the tax consequences of most events that are recognized in the financial statements for that year.However,because tax laws and financial accounting standards differ in their recognition and measurement of assets,liabilities,equity,revenues,expenses,gains,and losses,differences arise between:

a.The amount of taxable income and pretax financial income for a year

b.The tax bases of assets or liabilities and their reported amounts in financial statements.

11.An assumption inherent in an enterprise's statement of financial position prepared in accordance with generally accepted accounting principles is that the reported amounts of assets and liabilities will be recovered and settled,respectively.Based on that assumption,a difference between the tax basis of an asset or a liability and its reported amount in the statement of financial position will result in taxable or deductible amounts in some future year(s)when the reported amounts of assets are recovered and the reported amounts of liabilities are settled.Examples follow:

a.Revenues or gains that are taxable after they are recognized in financial income.An asset (for example,a receivable from an installment sale)may be recognized for revenues or gains that will result in future taxable amounts when the asset is recovered.

b.Expenses or losses that are deductible after they are recognized in financial income.A liability(for example,a product warranty liability)may be recognized for expenses or losses that will result in future tax deductible amounts when the liability is settled.

c.Revenues or gains that are taxable before they are recognized in financial income.A liability(for example,subscriptions received in advance)may be recognized for an advance payment for goods or services to be provided in future years.For tax purposes,the advance payment is included in taxable income upon the receipt of cash.Future sacrifices to provide goods or services(or future refunds to those who cancel their orders)will result in future tax deductible amounts when the liability is settled.

d.Expenses or losses that are deductible before they are recognized in financial income.The cost of an asset(for example,depreciable personal property)may have been deducted for tax purposes faster than it was depreciated for financial reporting.Amounts received upon future recovery of the amount of the asset for financial reporting will exceed the remaining tax basis of the asset,and the excess will be taxable when the asset is recovered.

e.A reduction in the tax basis of depreciable assets because of tax credits.5 Amounts received upon future recovery of the amount of the asset for financial reporting will exceed the remaining tax basis of the asset,and the excess will be taxable when the asset is recovered.

f.ITC accounted for by the deferral method.Under Opinion 2,ITC is viewed and accounted for as a reduction of the cost of the related asset(even though,for financial statement presentation,deferred ITC may be reported as deferred income).Amounts received upon future recovery of the reduced cost of the asset for financial reporting will be less than the tax basis of the asset,and the difference will be tax deductible when the asset is recovered.

g.An increase in the tax basis of assets because of indexing whenever the local currency is the functional currency.The tax law for a particular tax jurisdiction might require adjustment of the tax basis of a depreciable(or other)asset for the effects of inflation.The inflation-adjusted tax basis of the asset would be used to compute future tax deductions for depreciation or to compute gain or loss on sale of the asset.Amounts received upon future recovery of the local currency historical cost of the asset will be less than the remaining tax basis of the asset,and the difference will be tax deductible when the asset is recovered.

h.Business combinations accounted for by the purchase method.There may be differences between the assigned values and the tax bases of the assets and liabilities recognized in a business combination accounted for as a purchase under APB Opinion No.16,Business Combinations.Those differences will result in taxable or deductible amounts when the reported amounts of the assets and liabilities are recovered and settled,respectively.

12.Examples(a)-(d)in paragraph 11 illustrate revenues,expenses,gains,or losses that are included in taxable income of an earlier or later year than the year in which they are recognized in pretax financial income.Those differences between taxable income and pretax financial income also create differences(sometimes accumulating over more than one year)between the tax basis of an asset or liability and its reported amount in the financial statements.Examples (e)-(h)in paragraph 11 illustrate other events that create differences between the tax basis of an asset or liability and its reported amount in the financial statements.For all eight examples,the differences result in taxable or deductible amounts when the reported amount of an asset or liability in the financial statements is recovered or settled,respectively.

13.This Statement refers collectively to the types of differences illustrated by those eight examples and to the ones described in paragraph 15 as temporary differences.Temporary differences that will result in taxable amounts in future years when the related asset or liability is recovered or settled are often referred to in this Statement as taxable temporary differences (examples(a),(d),and(e)in paragraph 11 are taxable temporary differences).Likewise, temporary differences that will result in deductible amounts in future years are often referred to as deductible temporary differences(examples(b),(c),(f),and(g)in paragraph 11 are deductible temporary differences).Business combinations accounted for by the purchase method(example(h))may give rise to both taxable and deductible temporary differences.

14.Certain basis differences may not result in taxable or deductible amounts in future years when the related asset or liability for financial reporting is recovered or settled and,therefore, may not be temporary differences for which a deferred tax liability or asset is recognized.One example under current U.S.tax law is the excess of cash surrender value of life insurance over premiums paid.That excess is a temporary difference if the cash surrender value is expected to be recovered by surrendering the policy,but is not a temporary difference if the asset is expected to be recovered without tax consequence upon the death of the insured(there will be no taxable amount if the insurance policy is held until the death of the insured).

15.Some temporary differences are deferred taxable income or tax deductions and have balances only on the income tax balance sheet and therefore cannot be identified with a particular asset or liability for financial reporting.That occurs,for example,when a long-term contract is accounted for by the percentage-of-completion method for financial reporting and by the completed-contract method for tax purposes.The temporary difference(income on the contract)is deferred income for tax purposes that becomes taxable when the contract is completed.Another example is organizational costs that are recognized as expenses when incurred for financial reporting and are deferred and deducted in a later year for tax purposes.In both instances,there is no related,identifiable asset or liability for financial reporting,but there is a temporary difference that results from an event that has been recognized in the financial statements and,based on provisions in the tax law,the temporary difference will result in taxable or deductible amounts in future years.

《美国财务会计准则159：金融资产和金融负债公允价值的操作》（摘要英文版）

zzhg1 — Sun, 02 Sep 2007 05:05:00 GMT

FEBRUARY 2007

Financial

Accounting Series

Statement of Financial Accounting Standards No. 159

The Fair Value Option for Financial Assets and Financial Liabilities

Including an amendment of FASB Statement No. 115

Summary

Why Is the FASB Issuing This Statement?

This Statement permits entities to choose to measure many financial instruments and certain other items at fair value. The objective is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. This Statement is expected to expand the use of fair value measurement, which is consistent with the Board’s long-term measurement objectives for accounting for financial instruments.

What Is the Scope of This Statement—Which Entities Does It Apply to and What Does It Affect?

This Statement applies to all entities, including not-for-profit organizations. Most of the provisions of this Statement apply only to entities that elect the fair value option. However, the amendment to FASB Statement No. 115, Accounting for Certain Investments in Debt and Equity Securities, applies to all entities with available-for-sale and trading securities. Some requirements apply differently to entities that do not report net income.

The following are eligible items for the measurement option established by this Statement:

1. Recognized financial assets and financial liabilities except:

a. An investment in a subsidiary that the entity is required to consolidate

b. An interest in a variable interest entity that the entity is required to consolidate

c. Employers’ and plans’ obligations (or assets representing net overfunded positions) for pension benefits, other postretirement benefits (including health care and life insurance benefits), postemployment benefits, employee stock option and stock purchase plans, and other forms of deferred compensation arrangements, as defined in FASB Statements No. 35, Accounting and Reporting by Defined Benefit Pension Plans, No. 87, Employers’ Accounting for Pensions, No. 106, Employers’ Accounting for Postretirement Benefits Other Than Pensions, No. 112, Employers’ Accounting for Postemployment Benefits, No. 123 (revised December 2004), Share-Based Payment, No. 43, Accounting for Compensated Absences, No. 146, Accounting for Costs Associated with Exit or Disposal

Activities, and No. 158, Employers’ Accounting for Defined Benefit

Pension and Other Postretirement Plans, and APB Opinion No. 12, Omnibus Opinion—1967

d. Financial assets and financial liabilities recognized under leases as defined in FASB Statement No. 13, Accounting for Leases (This exception does not apply to a guarantee of a third-party lease obligation or a contingent obligation arising from a cancelled lease.)

e. Deposit liabilities, withdrawable on demand, of banks, savings and loan associations, credit unions, and other similar depository institutions

f. Financial instruments that are, in whole or in part, classified by the issuer as a component of shareholder’s equity (including “temporary equity”).

An example is a convertible debt security with a noncontingent beneficial conversion feature.

2. Firm commitments that would otherwise not be recognized at inception and that involve only financial instruments

3. Nonfinancial insurance contracts and warranties that the insurer can settle by paying a third party to provide those goods or services

4. Host financial instruments resulting from separation of an embedded nonfinancial derivative instrument from a nonfinancial hybrid instrument.

How Will This Statement Change Current Accounting Practices?

The fair value option established by this Statement permits all entities to choose to measure eligible items at fair value at specified election dates. A business entity shall report unrealized gains and losses on items for which the fair value option has been elected in earnings (or another performance indicator if the business entity does not report earnings) at each subsequent reporting date. A not-for-profit organization shall report unrealized gains and losses in its statement of activities or similar statement.

The fair value option:

1. May be applied instrument by instrument, with a few exceptions, such as investments otherwise accounted for by the equity method

2. Is irrevocable (unless a new election date occurs)

3. Is applied only to entire instruments and not to portions of instruments.

How Does This Statement Contribute to International Convergence?

The fair value option in this Statement is similar, but not identical, to the fair value option in IAS 39, Financial Instruments: Recognition and Measurement. The international fair value option is subject to certain qualifying criteria not included in this standard, and it applies to a slightly different set of instruments.

What Is the Effective Date of This Statement?

This Statement is effective as of the beginning of an entity’s first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of a fiscal year that begins on or before November 15, 2007, provided the entity also elects to apply the provisions of FASB Statement No. 157, Fair Value Measurements.

No entity is permitted to apply this Statement retrospectively to fiscal years preceding the effective date unless the entity chooses early adoption. The choice to

adopt early should be made after issuance of this Statement but within 120 days of the beginning of the fiscal year of adoption, provided the entity has not yet issued financial statements, including required notes to those financial statements, for any interim period of the fiscal year of adoption.

This Statement permits application to eligible items existing at the effective date (or early adoption date).

Statement of Financial Accounting Standards No. 159

The Fair Value Option for Financial Assets and Financial Liabilities

Including an amendment of FASB Statement No. 115

February 2007

Financial Accounting Standards Board of the Financial Accounting Foundation

401 MERRITT 7, PO BOX 5116, NORWALK, CONNECTICUT 06856-5116

Copyright . 2007 by Financial Accounting Standards Board. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial Accounting Standards Board.

Statement of Financial Accounting Standards No. 159

The Fair Value Option for Financial Assets and Financial Liabilities

Including an amendment of FASB Statement No. 115

February 2007

CONTENTS

Paragraph

Numbers

Objective................................................................................ 1–2

Standards of Financial Accounting and Reporting:

The Fair Value Option............................................................ 3–5

Key Terms .......................................................................... 6

Applying the Fair Value Option ................................................ 7–14

Scope of Eligible Items ....................................................... 7

Recognized Financial Assets and Liabilities That Are Not

Eligible Items ................................................................. 8

Election Dates................................................................... 9–11

Instrument-by-Instrument Application...................................... 12–14

Presentation of Items Measured at Fair Value under This Statement... 15–16

Statement of Financial Position ............................................. 15

Cash Flow Statement.......................................................... 16

Disclosures Applicable to This Statement and Statement 155............ 17–22

Required Disclosures as of Each Date for Which an Interim or

Annual Statement of Financial Position Is Presented................. 18

Required Disclosures for Each Period for Which an Interim or

Annual Income Statement Is Presented.................................. 19–20

Other Required Disclosures .................................................. 21–22

Application by Not-for-Profit Organizations ................................. 23

Effective Date ...................................................................... 24–30

Application to Eligible Items Existing at the Effective Date.......... 25–27

Available-for-Sale and Held-to-Maturity Securities ..................... 28–29

Early Adoption.................................................................. 30

Appendix A: Background Information and Basis for Conclusions ......... A1–A54

Appendix B: Illustrative Fair Value Disclosures................................ B1.B9

Appendix C: Amendments to Existing Pronouncements...................... C1–C7

《美国财务会计准则157：公允价值计量》（摘要英文版）

zzhg1 — Sun, 02 Sep 2007 04:59:00 GMT

SEPTEMBER 2006

Financial Accounting Series

StatementofFinancialAccountingStandardsNo.157：Fair Value Measurements

Financial Accounting Standards Board

Summary

This Statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. This Statement applies under other accounting pronouncements that require or permit fair value measurements, the Board having previously concluded in those accounting pronouncements that fair value is the relevant measurement attribute. Accordingly, this Statement does not require any new fair value measurements. However, for some entities, the application of this Statement will change current practice.

Reason for Issuing This Statement

Prior to this Statement, there were different definitions of fair value and limited guidance for applying those definitions in GAAP. Moreover, that guidance was rsed among the many accounting pronouncements that require fair value measurements. Differences in that guidance created inconsistencies that added to the omplexity in applying GAAP. In developing this Statement, the Board considered the need for increased consistency and comparability in fair value measurements and for expanded disclosures about fair value measurements.

Differences between This Statement and Current Practice

The changes to current practice resulting from the application of this Statement relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements.

The definition of fair value retains the exchange price notion in earlier definitions of fair value. This Statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. The transaction to sell the asset or transfer the liability is a hypothetical ansaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. Therefore, the definition focuses on the price that would be received to sell the asset or paid to transfer the liability (an exit price), not the price that would be paid to acquire the asset or received to assume the liability (an entry price).

This Statement emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, this Statement establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) the reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The notion of unobservable inputs is intended to allow for situations in which there is little, if any, market activity for the asset or liability at the measurement date. In those situations, the reporting entity need not undertake all possible efforts to obtain information about market participant assumptions. However, the reporting entity must not ignore information about market participant assumptions that is reasonably available without undue cost and effort.

This Statement clarifies that market participant assumptions include assumptions about risk, for example, the risk inherent in a particular valuation technique used to

measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. A fair value measurement should include an adjustment for risk if market participants would include one in pricing the related asset or liability, even if the adjustment is difficult to determine. Therefore, a measurement (for example, a “mark-to-model” measurement) that does not include an adjustment for risk would not represent a fair value measurement if market participants would include one in pricing the related asset or liability.

This Statement clarifies that market participant assumptions also include assumptions about the effect of a restriction on the sale or use of an asset. A fair value

measurement for a restricted asset should consider the effect of the restriction if market participants would consider the effect of the restriction in pricing the asset. That guidance applies for stock with restrictions on sale that terminate within one year that is measured at fair value under FASB Statements No. 115, Accounting for Certain Investments in Debt and Equity Securities, and No. 124, Accounting for Certain Investments Held by Not-for-Profit Organizations.

This Statement clarifies that a fair value measurement for a liability reflects its nonperformance risk (the risk that the obligation will not be fulfilled). Because

nonperformance risk includes the reporting entity’s credit risk, the reporting entity should consider the effect of its credit risk (credit standing) on the fair value of the liability in all periods in which the liability is measured at fair value under other accounting pronouncements, including FASB Statement No. 133, Accounting for

Derivative Instruments and Hedging Activities.

This Statement affirms the requirement of other FASB Statements that the fair value of a position in a financial instrument (including a block) that trades in an active market should be measured as the product of the quoted price for the individual instrument times the quantity held (within Level 1 of the fair value hierarchy). The quoted price should not be adjusted because of the size of the position relative to trading volume (blockage factor). This Statement extends that requirement to broker-dealers and investment companies within the scope of the AICPA Audit and Accounting Guides for those industries.

This Statement expands disclosures about the use of fair value to measure assets and liabilities in interim and annual periods subsequent to initial recognition. The

disclosures focus on the inputs used to measure fair value and for recurring fair value measurements using significant unobservable inputs (within Level 3 of the fair value hierarchy), the effect of the measurements on earnings (or changes in net assets) for the period. This Statement encourages entities to combine the fair value information disclosed under this Statement with the fair value information disclosed under other accounting pronouncements, including FASB Statement No. 107, Disclosures about Fair Value of Financial Instruments, where practicable.

The guidance in this Statement applies for derivatives and other financial instruments measured at fair value under Statement 133 at initial recognition and in all subsequent periods. Therefore, this Statement nullifies the guidance in footnote 3 of EITF Issue No. 02-3, “Issues Involved in Accounting for Derivative Contracts Held for Trading Purposes and Contracts Involved in Energy Trading and Risk Management Activities.” This Statement also amends Statement 133 to remove the similar guidance to that in Issue 02-3, which was added by FASB Statement No. 155, Accounting for Certain Hybrid Financial Instruments.

How the Conclusions in This Statement Relate to the FASB’s Conceptual Framework

The framework for measuring fair value considers the concepts in FASB Concepts Statement No. 2, Qualitative Characteristics of Accounting Information. Concepts Statement 2 emphasizes that providing comparable information enables users of financial statements to identify similarities in and differences between two sets of economic events.

The definition of fair value considers the concepts relating to assets and liabilities in FASB Concepts Statement No. 6, Elements of Financial Statements, in the context of market participants. A fair value measurement reflects current market participant assumptions about the future inflows associated with an asset (future economic benefits) and the future outflows associated with a liability (future sacrifices of economic benefits).

This Statement incorporates aspects of the guidance in FASB Concepts Statement No. 7, Using Cash Flow Information and Present Value in Accounting Measurements, as clarified and/or reconsidered in this Statement. This Statement does not revise Concepts Statement 7. The Board will consider the need to revise Concepts Statement 7 in its conceptual framework project.

The expanded disclosures about the use of fair value to measure assets and liabilities should provide users of financial statements (present and potential investors, creditors, and others) with information that is useful in making investment, credit, and similar decisions—the first objective of financial reporting in FASB Concepts Statement No. 1, Objectives of Financial Reporting by Business Enterprises.

How the Changes in This Statement Improve Financial Reporting

A single definition of fair value, together with a framework for measuring fair value, should result in increased consistency and comparability in fair value surements.

The expanded disclosures about the use of fair value to measure assets and liabilities should provide users of financial statements with better information about the extent to which fair value is used to measure recognized assets and liabilities, the inputs used to develop the measurements, and the effect of certain of the measurements on earnings (or changes in net assets) for the period.

The amendments made by this Statement advance the Board’s initiatives to simplify and codify the accounting literature, eliminating differences that have added to the complexity in GAAP.

Costs and Benefits of Applying This Statement

The framework for measuring fair value builds on current practice and requirements. However, some entities will need to make systems and other changes to comply with the requirements of this Statement. Some entities also might incur incremental costs in applying the requirements of this Statement. However, the benefits from increased consistency and comparability in fair value measurements and expanded disclosures about those measurements should be ongoing.

The Effective Date of This Statement

This Statement is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Earlier

application is encouraged, provided that the reporting entity has not yet issued financial statements for that fiscal year, including financial statements for an interim period within that fiscal year.

The provisions of this Statement should be applied prospectively as of the beginning of the fiscal year in which this Statement is initially applied, except as follows. The provisions of this Statement should be applied retrospectively to the following financial instruments as of the beginning of the fiscal year in which this Statement is initially applied (a limited form of retrospective application):

a. A position in a financial instrument that trades in an active market held by a broker-dealer or investment company within the scope of the AICPA Audit and

Accounting Guides for those industries that was measured at fair value using a blockage factor prior to initial application of this Statement b. A financial instrument that was measured at fair value at initial recognition under Statement 133 using the transaction price in accordance with the guidance in footnote 3 of Issue 02-3 prior to initial application of this Statement c. A hybrid financial instrument that was measured at fair value at initial recognition under Statement 133 using the saction price in accordance with the guidance in Statement 133 (added by Statement 155) prior to initial application of this Statement. The transition djustment, measured as the difference between the carrying amounts and the fair values of those financial instruments at the date this Statement is initially applied, should be recognized as a cumulative-effect adjustment to the opening balance of retained earnings (or other appropriate components of equity or net assets in the statement of financial position) for the fiscal year in which this Statement is initially applied.

美国会计准则

《美国财务会计准则第109号：所得税会计》：摘要与概述（英文版）

《美国财务会计准则159：金融资产和金融负债公允价值的操作》（摘要 英文版）

《美国财务会计准则157：公允价值计量》（摘要 英文版）

《美国财务会计准则159：金融资产和金融负债公允价值的操作》（摘要英文版）

《美国财务会计准则157：公允价值计量》（摘要英文版）