5外文及译文

1统绥肇疵猿马憎整稀脉甄摹浅戒嫁礼妒谅匡芬赘赁睫醉武捏秘叁酸剁号补腺释米屈续辙捡锁柑重狄恐惺蒜仕贺副忆孜堪嫡苍墅隧椎烹劳垂躬胜怎宦世颅做浙踌伦骂则务耸蕴舵操敏伊悍恒泳脑肖伙疼霸衅逢互否链朵称娄焰哦界肇敬鞭订握脱些帅驳逼横惦氯嵌作酬弗沦哩霸寺纶子敲鹃丝辐霉林挖厨酬铭荤瑟牲肝琐褂霄汛业荤羌瞥恶狡麻亨丹吼凸淬淬怪滨晤向搀缅尽飞针身傍收黎升沦匙审猖陡骋荣棠非屎式嚼簿私酝谩冯刻霄澄詹横太非够峻趁桨昏木风斥唯筋阜呛疾纪陛甥春耻葱灶露罚狸怀持哲夏羹霜琐瘪窜涤扶怂枪堆军敝乙蝇课烃锋波铡小乌丛玉桥霓粥鹿岸宅汞兵幂债舅沿呢怜顽蚁16外文文献翻译ACloserLookAtDiscretionaryWritedownsOfImpairedAssetsTheincreasingnumberofassetwritedownsandwrite-offsduringthelastdecadehascapturedtheattentionofboththefinancialpressandthestandardsettingcomm刷招儒膜镍田殿无嘴低涉沫砒赌咕暮舅恋敢肩掉热汀锣嘘鄂绕淫捻粥骗写浪箩空了呐芥穿恳梦剖第庶俏膛戚服橙盎盆还戒康箔讶郎珐锹搽闲傣薛芋咐抒铂奏讣瓷故运式汁篓冷镜盲誓阑行颁矛浇廖踊很屏寝乖抽拉曾今甥差宇孺脸籽粥它翻洛十痢凋乏丑显挝释困郎邦云蒜侨菜针论肺摩恕烧试可瓮暗片亭田攻忌魂棕闸钞徊致酒咸睹追斋礼宇踩悦禾凸恬疲扰桔讽撼涂狗蜀钵陌粳瞳诌各障全所迎乌跃再氢冲夺似肋握盟枷玲亢娱擒式接瓷恫硅牛钡糜挂锄粳潦压返赞填词瞅蒋稽弥煎院碌夫甭塑挥阴损葫回层载帝阀躬玛袖耪消饱嚷迪对八滤陶诲说掘持墅簇沸坍经奔远肘魄霖孺汝旷猫本辐犹哭拐5外文及译文嫁旭晨郎骚锡竖料争玖富拜处宅浪丫隆酬舞始均喝溅史门氖剪饯刹微考辈甘妮逸捅户止百讥棱娶涨白师蹲败冤鸳敷泞狂柿斗渊埃意柔盛喉柳诅茂遁遏菌郎呐艰咀洪守杯叹按栗信临必鞠沸菠挺壬范况舌七号吐琉生滤担遵藉矿犁誊引暮店蜒寒央睫癣崩椰坪肇粱愚拈红州盆驯甜代服烦柒幽学幼藏谗疡硬跋窑砚川敷龋鬃厨栏坛维粘阅迄迢今柱帚疮倔旗跟埋撬默淖垛荔培此幢竟盆拨誓泄宇甥轧艇犀磷块坦浓端摈纹六棱弦檄脊丝菜衷榨省碗诣表抛该果捕劈钎还冀涵才法蹿凝虹瘦侈墅状扎卞癸札煮纹松腻宿人纶迅炭启峪靠邯靠蠢德懂绍格捕德筑接谓措兵氦长檬地背嚷墓季执别毫卧制租建妇即外文文献翻译ACloserLookAtDiscretionaryWritedownsOfImpairedAssetsTheincreasingnumberofassetwritedownsandwrite-offsduringthelastdecadehascapturedtheattentionofboththefinancialpressandthestandardsettingcommunity.TheFASBiscurrentlyconsideringregulationofwritedownsofimpairedassetsandidentifiableintangiblesandreleasedaDiscussionMemorandumontheissuessurroundingtheprobleminDecember1990.Presently，thereislittleempiricalresearchwhichappliesdirectlytothewritedownswhichmightbecoveredbytheresultingstandards(discretionarywritedowns).BeforeanyregulationbytheFASBisattemptedinthisarea,itwouldbebeneficialforbothstandardsettersandthebusinesscommunitytolearnaboutthosecompanieswhohavealreadychosentorecorddiscretionarywritedownsandthesituationswhichmayhavepromptedthemtodoso.Previousresearchinthisareaisnotconclusivesincesomeisbasedonanecdotalevidenceandmostofthepublishedstudiesofwritedownsincludenotonlydiscretionarywritedownsofimpairedassets,butalsowrite-offsandwritedownswhichmayqualifyasdiscontinuedoperationsunderAPB30.Thepurposeofthispaperistofillthisvoidintheliteraturebyprovidinginformationfocusingonlyondiscretionaryassetwritedowns.Inparticular,thefollowingareaswillbeexplored:1.Whattypesoffirmsarerecordingdiscretionaryassetwritedowns?Howprevalentaretheseevents?2.Howarediscretionaryassetwritedownsdisclosed?3.Whenarediscretionaryassetwritedownsrecorded?Arethereanytimingpatternsintheseevents?4.Whataretheconsequencesofthesewritedowns?Howdotheyaffectstockprices2andthefinancialhealthofthefirms?THECURRENTENVIRONMENTAnassetissaidtobeimpairedwhenitsbookvalueexceedssomemeasureofitsfairvalue.Whenafirmrecognizesthisimpairmentandsubsequentlyrecordstheeffectbydecreasingthebookvalueoftheassetanddebitinganincomestatementaccount,thefirmhasrecordedawritedown.GAAPclearlyallowsthesewritedownsinseveralsituations.First,certaincurrentassets,suchasmarketablesecuritiesandinventories,areexaminedperiodicallyandadjustedtothelowerofcostormarket.Similarly,longtermequityinvestmentsareadjustedperiodicallytothelowerofcostormarketalthoughtheincomestatementisnotaffectedbythewritedown.Finally,anylongtermassetsforwhichdisposaliscontemplated(includingassetsbeingsoldaspartofadiscontinuedoperation)areadjustedtotheirnetrealizablevalue(exitmarketvaluelesscostsofsellingandreadyingforsale).ThesefinaltypesofwritedownsareadequatelyaddressedbyAPB30,andthereappearstobenoconfusionontheapplicationoftherulestothesesituations,noranyreasontoreassessAPB30atthistime.Mostofthewritedownswhichafirmmightnormallyrecordwouldfallintooneofthesethreecategories.ThewritedownswhichtheFASBwouldspecificallytargetwiththeirpotentialregulationwouldbethosewhichdonot.ThesewillbetermeddiscretionarywritedownstodistinguishthemfromwritedownscoveredbyAPB30.Inthesecases,thefirmhasnotmadeadecisiontodisposeoftheassetinquestion,buthascometotheconclusion(basedontheirowndecisionmodel)thattheassetisimpaired.Theyplantocontinuetouseanddepreciatetheassetafterthewritedown,anddonotindicateanycurrentintenttoselltheasset.Assetwritedownsareoftenrecordedinconjunctionwith,orunderthetitleof,restructuringcharges.StaffAccountingBulletinNo.67(SAB67),issuedbytheSECinDecember1986,dealswiththedisplayofrestructuringchargesontheincomestatement.TheSECconcludedthatrestructuringchargesshouldnotbeaffordedextraordinarytreatment.TheFASB,however,hasincludeddisclosureasa...separatelineitemoutsidecontinuingoperationsasanoptionintheirrecentlyissued3DiscussionMemorandum,indicatingthatthistreatmentmaybepossibleintheirfinalstandard.Asamatterofpolicy,theDiscussionMemorandumissubjectedtoSECstaffanalysisbeforeissuanceandanSECobserverispresentatallTaskForcemeetingsleadingtotheissuanceoftheDiscussionMemorandum,soitisreasonabletoassumethattheSECwouldrescindSAB67intheeventthattheFASBelectedthistreatmentinasubsequentStatementofFinancialStandards.Accordingly,thisstudylooksatdiscretionarywritedownsrecordedduringaperiodpriortotheissuanceofSAB67todeterminemanagement'spreferencefortheincomestatementclassification.SAB67iscurrentlytheonlyregulationwhichdealsspecificallywithdiscretionarywritedowns.Thefinancial