第一篇：CPA会计英语讲义

会计英语 【字体：大 中 小】【打印】

Ⅰ.背景介绍

中国注册会计师协会决定在今年的中国注册会计师资格考试会计科、审计科加试10分英语试题,并将该成绩纳入最后考试的总成绩,也即110分的试卷60分及格。该安排看似突然,实际上代表了一个趋势,就是要全面提升中国注册会计师的语言水平,进而达到中西合璧,融会贯通,取长补短,为我所用的目的。

针对此变化,广大考生应该做到:

稳定情绪 调整心态 振奋精神 悉心备考

该考试变化对广大考生的参考并未产生实质性的不利影响。

所以应该充满自信,不要出现急躁、不安情绪！

积极应对！从积极方面来看待这个趋势和变化！

Ⅱ.考试题型预测

目前获得的关于这10分英语考试最新的信息为:

1.一道题

2.主观题

3.专业题

分析:

正是针对此次考试‚三题‛的特点,我们预测此次考试极有可能的题型如下:

1.名词解释

2.简答题

3.翻译（英汉互译）

4.案例分析

这四类题型都会很好地体现‚三题‛精神。

会计科考试体系是在中国会计准则（CAS）与国际会计准则（IAS/IFRS）趋同的背景下考察英文水平的;趋同不是等同,所以考察具体某些业务的分录的可能性虽然存在，但是不大；更重要考察的是一些‚务虚‛的内容,即理论或文字表述的内容。

辅导大体安排

TIME SCHEDULE MEMO 1-1.5hrs 题型分析 对每类题型结合具体实例进行说明,并讲解答题技巧 2.5-3hrs 考点预测 结合题型对可能考查的内容进行预测讲解

该项英语考试对书面表达的要求在英语四级水平。

该项考前紧急冲刺辅导时间紧,任务重,不是零起点辅导,需要有一定的英语基础。

Ⅲ.内容讲解

考试题型

极有可能的题型如下:

案例分析

名词解释 简答题 翻译 案例分析是在名词解释、简答题和翻译基础上构建起来的,是这三种题型的综合,因此,在分别介绍各种题型后,将着重研读案例分析及应对策略和答题技巧。

目前2006版中国会计准则（CAS 2006）和国际会计准则体系大体趋同,但在诸多细节上仍存在差异。要么是国情特点决定的,要么是引进的新的理念。

对于会计科英语考试,主要从以下方面来准备：

1.ACCOUNTING TERMS

2.ACCOUNTING THEORIES

3.ACCOUNITNG APPLICATIONS

4.IAS/IFRS/CAS

题型分析

一、名词解释

EXAMPLE

Fair Value

[答疑编号31010101：针对该题提问]

Solution:

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction。

所谓公允价值计量模式,就是资产和负债按照在公平交易中,熟悉情况的交易双方自愿进行资产交换或者债务清偿的金额计量。

Notes:

1.for which…in an arm's length transaction：‚介词＋关系词‛引导的定语从句，修饰the amount

2.arm's length transaction 公平交易

答题规律：开门见山，言简意赅

二、简答题

Of particular importance within the Framework are the definitions and recognition criteria for assets and liabilities.Required：

Define assets and liabilities and explain the important aspects of their definitions.Explain why these definitions are of particular importance to the preparation of an entity’s balance sheet and income statement.[答疑编号31010201：针对该题提问]

Solution：

Definitions–assets：

The IASB’s Framework defines assets as‘a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity’.The first part of the definition puts the emphasis on control rather than ownership.This is done so that the balance sheet reflects the substance of transactions rather than their legal form.This means that assets that are not legally owned by an entity, but over which the entity has the rights that are normally conveyed by ownership, are recognised as assets of the entity.Common examples of this would be finance leased assets and other contractual rights such as aircraft landing rights.An important aspect of control of assets is that it allows the entity to restrict the access of others to them.The reference to past events prevents assets that may arise in future from being recognised early.国际会计准则委员会的框架文件将资产定义为：由过去事项而由企业控制的、预期会导致未来经济利益流入企业的资源。该定义的前半部分强调的是对控制而不是所有权。之所以这样是因为资产负债表反映的是交易的实质而不是交易的法律形式。这意味着即使在法律上所有权不归企业,但企业享有与拥有该所有权同样的权利，此时也应在资产负债表上将其确认为资产。通常的实例为融资租赁资产和其他类似航空着陆权的其他和约义务。资产的控制权另一重要体现是限制他人对该资产的染指。对过去事件的提及是阻止对未来可能拥有的资产过早得在资产负债表予以确认。

－liabilities：

The IASB’s Framework defines liabilities as ‘a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits’.Many aspects of this definition are complementary（as a mirror image）to the definition of assets, however the IASB stresses that the essential characteristic of a liability is that the entity has a present obligation.Such obligations are usually legally enforceable（by a binding contract or by statute）, but obligations also arise where there is an expectation（by a third party）of an entity assuming responsibility for costs where there is no legal requirement to do so.Such obligations are referred to as constructive（by IAS 37 Provisions, contingent liabilities and contingent assets）.An example of this would be repairing or replacing faulty goods（beyond any warranty period）or incurring environmental costs（e.g.landscaping the site of a previous quarry）where there is no legal obligation to do so.Where entities do incur constructive obligations it is usually to maintain the goodwill and reputation of the entity.One area of difficulty is where entities cannot be sure whether an obligation exists or not, it may depend upon a future uncertain event.These are more generally known as contingent liabilities.--负债

国际会计准则委员会编报财务报表的框架将负债定义为:企业由于过去事项而承担的现时义务，该义务的履行预期会导致含有经济利益的资源流出企业。该定义许多方面与资产定义遥相呼应。但国际会计准则强调负债的本质特征是指企业要有现时的义务。这样的义务通常在法律上是强制执行的(具有约束力的合同或法定要求)义务。有时该项义务来来自第三方的期望，即企业会承担某些非法定要求的成本。这样的义务称之为推定义务。例如企业在产品保证期期满后才显现缺陷也要予以修理或承担环保成本，这些都不是法定要求去做的。如果企业产生了推定义务，则是为了保持商誉或信誉而做。但比较困难的一点是企业有时很难确定是否存在一项义务，它将取决于某件将来要发生的不确定事件。这些通常称为或有负债。

Importance of the definitions of assets and liabilities：

The definitions of assets and liabilities are fundamental to the Framework.Apart from forming the obvious basis for the preparation of a balance sheet, they are also the two elements of financial statements that are used to derive the equity interest（ownership）which is the residue of assets less liabilities.资产和负债的定义是框架文件的基本概念。除了形成编制资产负债表的基础外，他们也是财务报表中用来计算所有者权益的两个因素，所有者权益是资产和负债的差额。

Assets and liabilities also have a part to play in determining when income（which includes gains）and expenses（which include losses）should be recognised.Income is recognised（in the income statement）when there is an increase in future economic benefits relating to increases in assets or decreases in liabilities, provided they can be measured reliably.Expenses are the opposite of this.Changes in assets and liabilities arising from contributions from, and distributions to, the owners are excluded from the definitions of income and expenses.资产和负债在确认收入(包括资本利得)和费用(包括损失)。当资产增加或负债减少引发的未来经济利益增加且能准确度量时，在损益表中确认收入。费用确认与此相反.但所有者出资或向所有者分配不在收入和费用的定义涉及范围内。

Currently there is a great deal of concern over‘off balance sheet finance’.This is an aspect of what is commonly referred to as creative accounting.Key ratio

Many recent company failure scandals have been in part due to companies having often massive liabilities that have not been included on the balance sheet.Robust definitions, based on substance, of assets and liabilities in particular should ensure that only real assets are included on the balance sheet and all liabilities are also included.In contradiction to the above point, there have also been occasions where companies have included liabilities on their balance sheets where they do not meet the definition of liabilities in the Framework.Common examples of this are general provisions and accounting for future costs and losses（usually as part of the acquisition of a subsidiary）.Companies have used these general provisions to smooth profits i.e.creating a provision when the company has a good year（in terms of profit）and releasing them to boost profits in a bad year.Providing for future costs and losses during an acquisition may effectively allow them to bypass the income statement as they would become part of the goodwill figure.目前比较关注的是表外融资。这是通常所说的创造性会计的一部分。最近出现的许多公司破产倒闭丑闻，部分原因都是因为这些公司大量的负债未在资产负债中予以体现。特别是应从资产和负债的实质含义入手，将真实的资产和全部的债务包含在资产负债表中。还有与上述相反的情况，也即公司将不符合负债定义的债务包括在资产负债表中。通常的例子是总体准备和计提将来损失和成本，即以丰补歉的做法。在并购时计提将来成本和损失实际上使之绕过损益表而成为商誉的一部分。

三、翻译（英汉互译）

A.英译汉

Definitions of Four Categories of Financial Assets

A financial asset or liability held for trading is one that was acquired or incurred principally for the purpose of generating a profit from short-term fluctuations in price or dealer's margin.A financial asset should be classified as held for trading if, regardless of why it was acquired, it is part of a portfolio for which there is evidence of a recent actual pattern of short-term profit-taking.Derivative financial assets and derivative financial liabilities are always deemed held for trading unless they are designated and effective hedging instruments.Held-to-maturity investments are financial assets with fixed or determinable payments and fixed maturity that an enterprise has the positive intent and ability to hold to maturity other than loans and receivables originated by the enterprise.Besides：除了…，包括所‚除‛事物在内；

Except：除了…，不包括所‚除‛事物在内。

Loans and receivables originated by the enterprise are financial assets that are created by the enterprise by providing money, goods, or services directly to a debtor, other than those that are originated with the intent to be sold immediately or in the short term, which should be classified as held for trading.Loans and receivables originated by the enterprise are not included in held-to-maturity investments but, rather, are classified separately under this Standard.Available-for-sale financial assets are those financial assets that are not（a）loans and receivables originated by the enterprise,（b）held-to-maturity investments, or（c）financial assets held for trading.[答疑编号31010202：针对该题提问]

参考译文

四类金融资产的定义

为交易而持有的金融资产或金融负债,指主要为了从价格或交易商保证金的短期波动中获利而购置的金融资产或承担的金融负债。一项金融资产不论因何种原因购置，如果它属于投资组合的组成部分，且有证据说明最近该组合可实际获得短期收益，则该金融资产应归类为为交易而持有的金融资产。对于衍生金融资产和衍生金融负债，除非它们被指定且是有效的套期工具，否则应认为是为交易而持有的金融资产和金融负债.持有至到期日的投资指具有固定或可确定金额和固定期限，且企业明确打算并能够持有至到期日的金融资产。企业源生的贷款和应收款项不包括在内。

企业源生的贷款和应收款项,指企业直接向债务人提供资金、商品或劳务所形成的金融资产。但打算立即或在短期内就转让的贷款和应收款项不包括在内，而应归类为为交易而持有的金融资产。在本准则中，企业源生的贷款和应收款项不应包括在持有至到期日的投资内，而应另行归类。

可供出售的金融资产,指不属于以下三类的金融资产：（1）企业源生的贷款和应收款项；（2）持有至到期日的投资；（3）为交易而持有的金融资产。

节选自： 国际会计准则第39号——金融工具：确认和计量

B.汉译英

开发阶段

只有当企业可证明以下所有各项时,开发（或内部项目的开发阶段）产生的无形资产应予确认：

1.完成该无形资产,使其能使用或销售,在技术上可行；

2.有意完成该无形资产并使用或销售它；

3.有能力使用或销售该无形资产；

4.该无形资产如何产生很可能的未来经济利益.其中,企业应证明存在着无形资产的产出市场或无形资产本身的市场；如果该无形资产将在内部使用,那么应证明该无形资产的有用性；

5.有足够的技术、财务资源和其他资源支持,以完成该无形资产的开发,并使用或销售该无形资产；

6.对归属于该无形资产开发阶段的支出,能够可靠地计量.[答疑编号31010203：针对该题提问]

Development Phase

An intangible asset arising from development（or from the development phase of an internal project）should be recognised if, and only if, an enterprise can demonstrate all of the following：

（a）the technical feasibility of completing the intangible asset so that it will be available for use or sale；

（b）its intention to complete the intangible asset and use or sell it；

（c）its ability to use or sell the intangible asset；

（d）how the intangible asset will generate probable future economic benefits.Among other things, the enterprise should demonstrate the existence of a market for the output of the intangible asset or the intangible asset itself or, if it is to be used internally, the usefulness of the intangible asset；

（e）the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset；

（f）its ability to measure the expenditure attributable to the intangible asset during its development reliably.三、案例分析

EXAMPLE 2

Ambush, a public limited company, is assessing the impact of implementing the revised IAS39 ‘Financial Instruments: Recognition and Measurement’.The directors realise that significant changes may occur in their accounting treatment of financial instruments and they understand that on initial recognition any financial asset or liability can be designated as one to be measured at fair value through profit or loss（the fair value option）.However, there are certain issues that they wish to have explained and these are set out below.Required:

（a）Outline in a report to the directors of Ambush the following information:

（i）how financial assets and liabilities are measured and classified, briefly setting out the accounting method used for each category.（Hedging relationship can be ignored.）（10 marks）

[答疑编号31010301：针对该题提问]

The following report sets out the principal aspects of lAS 39 in the designated areas.（i）Classification of financial instruments and their measurement

Financial assets and liabilities are initially measured at fair value which will normally be the fair value of the consideration given or received.Transaction costs are included in the initial carrying value of the instrument unless it is carried at ‘fair value through profit or loss’ When these costs are recognized in the income statement.Financial assets should be classified into four categories:

（i）financial assets at fair value through profit or loss

（ⅱ）loans and receivables

（ⅲ）held-to-maturity investments（HTM）

（ⅳ）available-for-sale financial assets（AFS）

The first category above has two sub categories which are ‘held for trading’ and those designated to this category at inception/initial recognition.This latter designation is irrevocable.Financial liabilities have two categories: those at fair value through profit of loss, and ‘other’ liabilities.As with financial assets those liabilities designated as at fair value through profit or loss have two sub categories which are the same as those for financial assets.Reclassifications between categories are uncommon and restricted under IAS 39 and are prohibited into and out of the fair value through profit or loss category.Reclassifications between AFS and HTM are possible but it is not possible from loans and receivables to AFS.The held to maturity category is limited in its application as if the company sells or reclassifies more than an immaterial amount of the portfolio, it is barred from using the category for at least two years.Also all remaining HTM investments would be reclassified to AFS.Subsequent measurement of financial assets and liabilities depends on the classification.The following table summarizes the position:

Financial Assets Measurement

Financial assets at fair value through profit or loss fair value

Loans and receivables amortised cost

Held to maturity investments amortised cost

Available-for-sale financial assets fair value

Financial liabilities at fair value through profit or loss fair value

Other financial liabilities amortised cost

Amortised cost is the cost of an asset or liability adjusted to achieve a constant effective interest rate over the life of the asset of liability.It is not possible to compute amortised cost for instruments that do not have fixed or determinable payments, such as for equity instruments, and such instruments therefore cannot be classified into these categories.A company must apply the effective interest rate method in the measurement of amortised cost.The effective interest rate method determines how much interest income or interest expense should be reported in profit and loss.For financial assets at fair value through profit or loss and financial liabilities at fair value through profit or loss, all changes in fair value are recognized in profit or loss when they occur.This includes unrealized holding gains and losses.For available-for-sale financial assets, unrealized holding gains and losses are deferred in reserves until they are realized and losses are recognized in profit or loss.Investments in unquoted equity instruments that cannot be reliably measured at fair value are subsequently measured at cost.Unrealized holding gains/losses are not normally recognized in profit/loss.答题思路：

1.其实是考查名词解释、简答题、翻译

2.基本准则：在案例给定的框架和范围内

3.问什么答什么

EXAMPLE 1

Trident, a public limited company, operates in the financial services sector and is planning to prepare its first financial statements under international Financial Reporting Standards（IFRSs）as at 31 December 2005.The Generally Accepted Accounting Practices（GAAP）used by Trident are very similar to IFRS but there are some differences which are set out below.The Group is currently preparing its local GAAP financial statements for the year ending 31 December 2004.The company has two foreign subsidiaries, Spar and Mask, both public limited companies.Spar is 80% owned by Trident and prepared its first IFRS financial statement at 31 December 2003 in order to comply with local legislation.Trident acquired a 70% holding in Mask in 1999.Mask was consolidated from that date using purchase accounting practices that are similar but not the same as those used by IFRS.However the local rules relating to the financial statements of Mask as regards, for example, the concept of substance over form are totally different to IFRS.Mask has adopted the international accounting standards relating to financial instruments in its own financial statements for the year ended 31 December 2003 because these standards had been incorporated into the local legislation.Group policy is to amortise goodwill but some goodwill had been totally written off against retained earnings on the acquisition of certain subsidiaries.On the disposal or closure of the business to which the goodwill related, goodwill previously eliminated against retained earnings is charged to the income statement.The gains and losses on the translation of the financial statement of overseas subsidiaries have been charged to retained earnings for many years and not recycled to the income statement on the disposal of subsidiaries.On 30 October 2004, the Group revalued its tangible non-current assets and incorporated these values into its financial statement.The company uses a straight line method to depreciate its tangible non-current assets.Further Trident had been developing computer software which was to be used as a financial modeling tool.The software cost had not been capitalised but charged to the income statement.The Group has a separately administered defined benefit pension scheme.Contributions are charged to the income statement and the regular pension costs are attributed using the projected unit method.Variations in pension costs as a result of actuarial valuations are amortised over the average remaining service lives of employees.No actuarial gains and losses had been recognised in the financial statements.Trident has several financial instruments in issue.It has preference share capital which was originally redeemable on 1 January 2001.However if the preference shareholders so wish the capital can be converted into ordinary shares of Trident at any time up to 31 December 2007 at which time the preference shares will be converted compulsorily.Additionally Trident enters into foreign exchange contracts to hedge existing monetary assets and liabilities, and hedges against the effects of changes in exchange rates in the net investment in overseas subsidiaries.Hedge accounting is currently not used by Trident.Required:

Based on the information above, draft a memorandum to the Directors of Trident setting out:

（a）the general principles behind IFES1 ‘First-time Adoption of international Financial Reporting Standards’.（5 marks）

[答疑编号31010302：针对该题提问]

（b）whether the measurement criteria in IFRS1 would be applied to the opening balances of Mask and Spar in the first IFRS group financial statements.（5 marks）

[答疑编号31010303：针对该题提问]

Solution

Memorandum to the Directors of Trident, a public limited company

Implications of IFRS1 ‘First time Adoption of International Financial Reporting Standards’

（a）The introduction of IFRS1 will have wide implications for any company which adopts IFRSs for the first time.The IFRS applies when a company adopts IFRSs for the first time by an explicit and unreserved statement of compliance with IFRSs.The opening balance sheet for the purpose of IFRS1 and the date of transition will be as at 1 January 2004 as this is the beginning of the comparative period.As of that date the company will have to:

（ⅰ）Recognise and derecognise assets and liabilities as required by IFRSs

（ⅱ）Reclassify items recognised under local GAAP as an asset, liability or equity that are treated differently under IFRSs

（ⅲ）Apply IFRSs in measuring all recognised assets and liabilities

（ⅳ）Recognise any adjustments required to move from previous GAAP to IFRS directly in retained earnings or an appropriate category of equity.IFRS1 grants limited exemptions from these requirements.The IFRS requires retrospective action in some areas but also prohibits this where judgment would be required by management about past conditions after the outcome of the transaction is already known.The transitional provisions in IFRS generally do not apply and the latest version of the IFRS at the date of the first financial statements（31 December 2005）shall apply to its opening balance sheet（1 January 2004）and throughout all periods presented in its first financial statements.Thus Trident will have to prepare its opening balance sheet retrospectively, which may cause problems in terms of the collection of the information required as at 1 January 2004.（b）An immediate question arises as to whether partial adoption of IFRS, as in the case of the subsidiary Mask, would constitute prior adoption of IFRS and, therefore, would not require the use of IFRS1.（IFRS1 applies to the first IFRS financial statements beginning after 1 January 2004.）However, because Mask only utilised IAS32 and IAS39 in its financial statements there would not have been an explicit and unreserved statement of compliance with IFRS and, therefore, Mask will be treated as a ‘first-time adopter’（FTA）and the assets and liabilities measured using IFRS1.Trident has become a first time adopter later than its subsidiary Spar.Spar has already applied the IFRS in force at 31 December 2003, and these balances will be included in the opening balance sheet of Trident at 1 January 2004（after the normal consolidated adjustments）.Thus there will be no need to adjust retrospectively the financial statements of Spar for the IFRS effective at 31 December 2005, and no need to apply IFRS1 to the opening balances of Spar at 1 January 2004.考点预测

重要的会计概念、理论

财务报表的简单分析

用英语表达的简单的会计分录

某些重要会计准则（IAS/IFRS/CAS）的研读理解

对中国会计准则趋同的宏观分析

GOODWILL

[答疑编号31010304：针对该题提问]

Any excess of the cost of the acquisition over the acquirer's interest in the fair value of the identifiable assets and liabilities acquired as at the date of the exchange transaction should be described as goodwill and recognised as an asset.交易发生时，购买成本超过购买企业在所取得的可辨认资产和负债的公允价值中的股权份额的部分,应作为商誉并确认为一项资产。

SUBSTANCE OVER FORM

The principle of recording the substance or economic reality of transactions rather than their legal form lies at the heart of the Framework for Preparation and Pressentation of Financial Statements’（Framework）and several lnternational Accounting Standards.The development of this principle was partly in reaction to a minority of public interest companies entering into certain complex transactions.These transactions sometimes led to accusations that company directors were involved in ‘creative accounting’.Required:

（a）（ⅰ）explain,with relevant examples, what is generally meant by the term ’creative accounting’;（5 marks）

[答疑编号31010305：针对该题提问]

（ⅱ）explain why it is important to record the substance rather than the legal form of transactions and describe the features that may indicate that the substance of a transaction is different from its legal form.（5 marks）

[答疑编号31010306：针对该题提问]

Solution:

（a）（ⅰ）creative accounting is a term in general used to describe the practice of applying inappropriate accounting policies or entering into complex or ‘special purpose’ transactions with the objective of making a company’s financial statements appear to disclose a more favourable position, particularly in relation to the calculation of certain ‘key’ ratios,than would otherwise be the case.Most commentators believe creative accounting stops short of deliberate fraud, but is nonethless undesirable as it is intended to mislead users of financial statements.Probably the most criticised area of creative accounting relates to off balance sheet financing.This occurs where a company has financial obligations that are not recorded on its balance sheet.There have been several examples of this in the past:

-finance leases treated as operating leases

-borrowings（usually convertible loan stock）being classified as equity

-secured loans being treated as ‘sales’（sale and repurchase agreementes）

-the non-consolidation of ‘special purpose vehicles’（quasi subsidiaries）that have been used to raise finance

-offsetting liabillities against assets（certain types of accounts receivable factoring）

The other main area of creative accounting is that of increasing or smoothing profits, Examples of this are;

-the use of inappropriate provisions（this reduces profit in good years and increases them in poor years）

-not providing for liablilties, either at all or not in full, as they arise.This often related to environmental provisions, decommissioning costs and constructive obligations.-restructuring costs not being charged to income（often related to a newly acquired subsidiary-the costs are effectively added to goodwill）

It should be noted that recent international Accounting Standards have now prevented many of the above past abuses, however more recent examples of creative accounting are in use by some of the new lntermet Dolcom companies.Most of these companies do not（yet）make any profit so other performance criteria such as site ‘hits’, conversion rates（browsers tuming into buyers）, bum periods（the length of time eash resources are expected to last）and even sales revenuse are massaged to give a mord favourable impression.（ⅱ）One of the primary characteristics of financial statements is reliability i.e.they must faithfully represent the transactions and other events that have occurred.It can be possible for the eccnomic substance of a transaction（effectively its commercial intention）to be different from its strict legal position or ‘form’.Thus financial statements can only give a faithful representation of a company’s performance if the substance of its transactions is reported.It is worth stressing that there will be very few transactions where their substance is different from their legal form, but for those where it is, they are usually very important.This is because they are material in terms of their size or incidence, or because they may be intended to mislead.a.（i）创造性会计通常是指不恰当的会计政策的运用或叙做复杂、有特殊目的的交易以达到使财务报表,特别是某些关键指标显得更加有力的目的.许多人认为虽该做法可减少一些有意的欺诈,但决不值得期许,因为它也是有意识去误导财务报表的使用者.创造性会计最遭人非议的恐怕要数表外融资了,即企业未将其金融负债在资产负债表上予以体现.具体实例如下:

-将融资租赁按经营租赁处理

-可转换股权债券按股权处理

-抵押贷款按销售处理（销售并回购协议）

-将专门用来融资的准子公司未纳入合并报表中

-资产和负债抵消（应收账款保理）

创造性会计另一大运用就是用来虚增或抹平利润.-准备的不恰当使用

-对负债没有计提准备

-改组费用未计入当期损益

（ii）财务报表的主要特征之一就是可靠性,即他们必须忠实记录交易与事件.有时交易的经济实质和它的法律形式不一致.财务报表要想做到公允表达就必须记录交易的经济实质.事实上仅有少量交易的经济实质与其法律形式不一致,但一旦出现该情况,就需十分重视,因为它一般涉及较大的金额或是有意的误导.Common features which may indicate that the substance of a transaction（or series of connected transactions）is different from its legal form are:

-where the ownership of an asset does not rest with the party that is expected to experience the risks and reward relating to it（i,e., equivalent to control of the asset）.-where a transaction is linked with other related transactions , it is necessary to assess the substance of the series of connected transactions as a whole.-the use of options within contracts ,it may be that options are either almost certain to be（or not to be）exercised.In such cases these are not really options at all and should be ignored in determining commercial substance.-where assets are sold at values that differ from their fair values（either above or below fair values）.Many complex transactions often contain several of the above features.Determining the true substance of transactions can be a difficult and sometimes subjective procedure.一笔交易如果它的经济实质与其法律形式不同，则通常具有以下特征:

-资产所有权不归属承担风险和收益的这一方；

-如果一项交易与其他交易相关联，有必要将这些交易作为一个整体来考虑他们的经济实质

-合同内含有选择权，但该选择权注定行使或不行使.-资产背离其公允价值出售

许多复杂的交易通常同时具体以上几个特征.PROVISION（准备）

IAS 37 ‘Provisions, contingent liabilities and contingent Assets’ was issued in 1998.The standard sets out the principles of accounting for these items and clarifies when provisions should and should not be made.Prior to its issue, the inappropriate use of provisions had been an area where companies had been accused of manipulating the financial statements and of creative accounting.Required:

（a）Describe the nature of provisions and the accounting requirements for them contained in IAS37.（6 marks）

[答疑编号31010307：针对该题提问]

（b）Explain why there is a need for an accounting standard in this area.Illustrate your answer with three practical examples of how the standard addresses controversial Issues.（6 marks）

[答疑编号31010308：针对该题提问]

（a）IAS 37‘Provisions, Contingent Liabilities and Contingent Assets’only deals with those provisions that are regarded as liabilities.The term provision is also generally used to describe those amounts set aside to write down the value of assets such as depreciation charges and provisions for diminution in value（e.g.provision to write down the value of damaged or slow moving inventory）.The definition of a provision is the Standard is quite simple;provisions are liabilities of uncertain timing or amount.If there is reasonable certainty over these two aspects the liability is a creditor.There is clearly an overlap between provisions and contingencies.Because of the ‘uncertainty’aspects of the definition, it can be argued that to some extent all provisions have an element of contingency.The IASB distinguishes between the two by stating that a contingency is not recognized as a liability if it is either only possible and therefore yet to be confirmed as a liability, or where there is a liability but it cannot be measured with sufficient reliability.The IASB notes the latter should be rare.The IASB intends that only those liabilities that meet the characteristics of a liability in its Framework for the Preparation and Presentation of Financial Statements should be reported in the balance sheet.IAS 37 summarises the above by requiring provisions to satisfy all of the following three recognition criteria:

－ there is present obligation（legal or constructive）as a result of past event;

－ it is probable that a transfer of economic benefits will be required to settle the obligation;

－ the obligation can be estimated reliably.A provision is triggered by an obligating event.This must have already occurred, future events cannot create current liabilities.The first of the criteria refers to legal or constructive obligations.A legal obligation is straightforward and uncontroversial, but constructive obligations are a relatively new concept.These arise where a company creates an expectation that it will meet certain obligations that it is not legally bound to meet.These may arise due to a published statement or even by a pattern of past practice.In reality constructive obligations are usually because the alternative action is unattractive or may damage the reputation of the company.The most commonly quoted example of such is a commitment to pay for environmental damage caused by the company, even where there is no legal obligation to do so.To summarise: a company must provide for a liability where the three defining criteria of a provision are met, but conversely a company cannot provide for a liability where they are not met.The latter part of the above may seem obvious, but it is an area where there has been some past abuse of provisioning as is referred to in（b）.（b）The main need for an accounting standard in this area is to clarify and regulate when provisions should and should not be made.Many controversial areas including the possible abuse of provisioning are based on contravening aspects of the above definitions.One of the most controversial examples of provisioning is in relation to future operating losses.The attraction of providing for this type of expense/loss is that once the provision has been made, the future costs are then charged to the provision such that they bypass the income statement（of the period when they occur）.When assessing the company’s future prospects.If this type of provision were to be incorporated as a liability as part of a subsidiary’s net assets at the date of acquisition, the provision itself would not be charged to the income statement.IAS 37 now prevents this practice as future costs and operating losses（unless they are for an onerous contract）do not constitute past events.Another important change initiated by IAS 37 is the way in which environmental provisions must be treated.Practice in this area has differed considerably.Some companies did not provide for such costs and those that did often accrued for them on an annual basis.If say a company expected environmental site restoration cost of $1 million per annum for 10 years（ignoring discounting）.Somewhat controversially this practice is no longer possible.IAS 37requires that if the environmental costs are a liability（legal or constructive）, then the whole of the costs must be provided for immediately.That has led to large liabilities appearing in some companies’ balance sheets.A third example of bad practice is the use of ‘big bath’provisions and over provisioning.In its simplest form this occurs where a company makes a large provision, often for non-specific future expenses, or as part of an overall restructuring package.If the provision is deliberately overprovided, then its later release will improve future profits.Alternatively the company could charge to the provision a different cost than the one it was originally created for.IAS 37 addresses this practice in two ways: by not allowing provisions to be created if they do not meet the definition of an obligation;and specifically preventing a provision and a new one would be created with appropriate disclosures.Whilst this treatment does not affect overall profits, it does enhance transparency.Note: other examples would be acceptable.答案大意

（a）国际会计准则第37号‚准备,或有资产和或有负债‛仅处理属于负债定义内的准备.准备的定义是不确定金额和时间的债务.准备应该符合债务的定义.准备是由过去事件引发的,通常法定义务和推定义务会引起准备.（b）国际会计准则第37号主要规范什么时候计提/不计提准备.准备滥用包括（1）为将来的损失做准备;（2）不正确准备环境成本;（3）以丰补歉.IMPAIRMENT OF ASSETS（资产减值）

It is generally recognized in practice that non-current assets should not be carried in a balance sheet at values that they are greater than are ‚worth‛.In the past there has been little guidance in this area with the result that impairment losses were not recognized on a consistent or timely basis or were not recognized at all.IAS 36 ‘Impairment of Assets’was issued in June 1998 on this topic.Required:

（a）（i）Define an impairment loss and explain when companies should carry out a review for impairment of assets;（3 marks）

（ii）Describe the circumstances that may indicate that a company’s assets may.have become impaired.（7 marks）

Solution:

（a）（i）An impairment loss arises where the carrying value of an asset, or group of assets, is higher than their recoverable amounts.In effect the Standard requires that assets should not appear on a balance sheet at a value which is higher than they are ‘worth’.The recoverable amount of an asset is defined as the higher of its net realizable value（i.e.the amount at which it can be sold for net of direct selling expenses）or its value in use（i.e.its estimated future net cash flows discounted to a present value）.IAS 36 ‘Impairment of Assets’recognises that many assets do not produce independent cash flows and therefore the value in use may have to be calculated for a group of assets-a cash-generating unit.The standard recognizes that it would be too onerous for companies to have to test for impaired assets every year and therefore only requires impairment reviews when there is some indication that an impairment has occurred.The exception to this general principle is where goodwill or other intangible assets are being depreciated over a period of more than 20 years, in which case an impairment review is required at least annually.This also applies where any tangible non-current asset, other than land, has a remaining life of more than 50 years.（ii）Impairments generally arise where there has been an event or change in circumstances.It may be that something has happened to the assets themselves（e.g.physical damage）or there has been a change in the economic environment relating to the assets（e.g.new regulations may have come into force）.The Standard gives several examples of indicators of impairment, which may be available from internal or external sources:

（i）Poor operating results.This could be a current operating loss or a low profit.One year’s losses in itself does not necessarily mean there has been an impairment, but if this is coupled with previous losses of expected future losses then this is an indication of impairment;

（ii）A significant decline in an asset’s market value（in excess of normal depreciation though use or the passage of time）or evidence of obsolescence（through market changes or technology）or physical damage;

（ii）Evidence of a reduction in the useful economic life or estimated residual value of assets;

（iv）Adverse changes in the market or economy such as the entrance of a major competitor, new statutory or regulatory rules or any indicator of value that has been used to value an asset（e.g.on acquisition a brand may have been valued on a ‘multiple’ of sale revenues’, If subsequent sales were below expectations this may indicate an impairment）;

（v）A commitment to a significant reorganization or restructuring of the business;

（vi）Loss of key employees or major customers;

（vii）Increases in long-term interest rates（this could materially impact on value in use calculations thus affecting the recoverable amounts of assets）;

（viii）Where the carrying amount of an enterprise’s net assets is more than its market capitalization.答案大意

（i）当资产或资产组的账面价值高于其可收回价值时则出现了资产减值损失.可收回价值是指可变现价值和使用价值（资产预计未来现金流量的现值）中较高的值.当出现资产减值迹象时，企业需进行资产减值测试.（ii）资产减值的迹象特征

1.较差的运营结果

2.资产市值的大幅度下降

3.使用年限缩短/残值减少

4.经济/市场形势逆转

5.重大重组

6.关键员工/顾客流失

7.长期利率上扬

8.资产价值高于可变现价值

补充阅读材料（出自《金融时报》，建议大家自行掌握）

China adopts new accounting standards

By Richard McGregor in Beijing, FT.com site

Published: Feb 15, 2006

China has agreed to adopt new national accounting standards to bring them into line with international rules following a decade-long review of the local industry and its practices.Lou Jiwei, the vice-finance minister, said in Beijing on Wednesday that China would adopt “one basic accounting standard” based on the so-called International Financial Reporting Standards now used in almost 100 countries including the EU member states.China's decision to bring its accounting standards largely into line with global norms is further evidence of the government's determination to internationalise its economy and business practices.It is likely to boost the confidence of foreign investors in the quality of financial information from the fast-growing economy.However, the introduction of the standards will present a new challenge for local accounting firms, already struggling to compete with the big four international players.The decision was hailed by members of the global profession in Beijing for an announcement ceremony at the Great Hall of the People, saying that China's move would have an impact on other countries in Asia, such as South Korea, pondering a similar policy change.“There is going to a chain reaction as a result of this,” said Sir David Tweedie, the chairman of the International Accounting Standards Board.“The decision happened very fast in the end.They are almost there（as far as accounting standards go）and they are determined to get there.”

China will not take adopt the IFRS word for word, but rather take on board the principles and translate them into their own code, called the “Chinese Accounting Standards System”.“They will embed the principles into their system in a way that can be understood by local practitioners,” said Yvonne Kam, a director at PWC in Shanghai.Mr.Lou said the new system would introduce the concept of “fair value” into Chinese accounting for the first time along the lines of present international practices.The Chinese standard will maintain a number of significant exceptions to the IFRS rules because of the peculiarities of the local economy.China will maintain an exemption for state enterprises from the “related party” disclosures provisions because of the overwhelmingly dominance of government-enterprises in the economy.“You can understand why they would do that, because otherwise 95 per cent of the economy would be a related party,” said a foreign adviser to the Chinese.“But if your brother-in-law is your supplier in China, he is a related party just like anywhere else in the world.”

The implementation of the “fair value” provisions is also complicated because of the government's control of the price of assets such as unlisted securities, and the inability for the moment to find independent parties to assess them.“There is still the challenge of implementation, especially as companies will have to significantly reform their internal processes and retrain personnel,” said Mr.Kam.Another area in which China will maintain some differences with the IFRS is the so-called “impairment of assets” provisions, which allow companies to write down the value of businesses and their physical assets and goodwill.Under IFRS, companies can write down the value of assets and then revalue them upwards if conditions change.Chinese officials, however, say they will not allow revaluation because they worry it would leave too much opportunity for manipulation of accounts.The US also does not allow a revaluation upwards of assets that have been written down.The new rules will apply for listed companies from January 1 next year, while they will be phased in for other enterprises.WORLD NEWS: China to adopt accounting code in line with international rules

By Richard McGregor in Beijing, Financial Times Published: Feb 16, 2006

China has agreed to bring its national accounting standards into line with international rules, a move that will boost foreign investor confidence in the quality of financial information from the fast-growing economy.Lou Jiwei, Beijing's vice-finance minister, said yesterday that China would adopt “one basic accounting standard” based on the International Financial Reporting Standards used in almost 100 countries, including European Union member states.The move, which follows a decade-long review of local industry practices, is further evidence of the Chinese government's determination to internationalise its economy.But the introduction of the standards will be a challenge for local accounting firms, already struggling to compete with the big four international firms.Members of the global accountancy profession who were in Beijing for an announcement ceremony at the Great Hall of the People hailed China's decision and said the move would affect other Asian countries, such as South Korea, pondering a similar change.Sir David Tweedie, chairman of the International Accounting Standards Board, said: “There is going to be a chain reaction as a result of this.”The decision happened very fast in the end.They are almost there [as far as accounting standards go] and they are determined to get there.“

China will not adopt the IFRS word for word but will take on board the principles and translate them into its own code, the Chinese Accounting Standards System.Mr.Lou said the system would introduce the concept of ”fair value“ into Chinese accounting, along the lines of international practices.But it will maintain significant exceptions to IFRS rules because of the peculiarities of the Chinese economy.China will keep an exemption for state enterprises from the ”related party“ disclosure provisions because of the dominance of government enterprises.”You can understand why they would do that, because otherwise 95 per cent of the economy would be a related party,“ said a foreign adviser to the Chinese.The implementation of the ”fair value“ provisions is also complicated because of the government's control of the price of assets such as unlisted securities, and the inability to find independent parties to assess them.Another area in which China will maintain differences with IFRS is in the ”impairment of assets" provisions, which allow companies to write down the value of businesses, physical assets and goodwill.Under IFRS, companies can write down the value of assets and revalue them upwards if conditions change.Chinese officials say they will not allow revaluation because they fear it would leave too much room for manipulation of accounts.The US also refuses to allow the revaluation upwards of assets already written down.The new rules will apply for listed companies from January 1 next year.Converging accounting standards work must go on

By Tommaso Padoa-Schioppa

FT.com site, May 18, 2006

Surprisingly, the Financial Times and a draft report from the UK arm of PWC recently called for efforts aimed at further international convergence of accounting standards to be abandoned.In the light of progress already made by the International Accounting Standards Board and the US Financial Accounting Standards Board, these calls are unfounded and should be firmly resisted.The simple fact is that markets are integrating worldwide.Differences in accounting methodologies and reporting systems impose an increasing burden on economic efficiency.They make cross-border comparisons difficult and costly.They may mislead markets and capital allocation.They also encourage a competition in laxity, because countries may reduce the quality of their standards in a short-sighted attempt to attract listings or to appeal to special interests.None of these consequences serves the interests of the global economy or investors.Users and Their Information Needs

9.The users of financial statements include present and potential investors, employees, lenders, suppliers and other trade creditors, customers, governments and their agencies and the public.They use financial statements in order to satisfy some of their different needs for information.These needs include the following:

财务的使用者包括现在和潜在的投资者、雇员、贷款人、供应商和其他商业债权人、顾客、政府及其机构与公众。他们利用财务报表以满足他们对资料的某些不同需要。这些需要包括：

（a）Investors.The providers of risk capital and their advisers are concerned with the risk inherent in, and return provided by, their investments.They need information to help them determine whether they should buy, hold or sell.Shareholders are also interested in information which enables them to assess the ability of the enterprise to pay pidends.（1）投资者。风险资本的提供者以及他们的顾问关心他们投资的内在风险和投资报酬。他们需要资料来帮助他们决定是否应当买进、持有或卖出。股东们还关心帮助他们评估企业支付股利的能力的资料。

（b）Employees.Employees and their representative groups are interested in information about the stability and profitability of their employers.They are also interested in information which enables them to assess the ability of the enterprise to provide remuneration, retirement benefits and employment opportunities.（2）雇员。雇员及其代表性组织关心有关其雇主稳定性和获利能力方面的资料。他们还关心使他们评估企业提供报酬、退休福利和就业机会的能力的资料。

（c）Lenders.Lenders are interested in information that enables them to determine whether their loans, and the interest attaching to them, will be paid when due.（3）贷款人。贷款人关心那些能使他们确定自己的贷款和贷款利息在到期时能否得到支付的资料。

（d）Suppliers and other trade creditors.Suppliers and other creditors are interested in information that enables them to determine whether amounts owing to them will be paid when due.Trade creditors are likely to be interested in an enterprise over a shorter period than lenders unless they are dependent upon the continuation of the enterprise as a major customer.（4）供应商和其他商业债权人。供应商和其他债权人关心那些能使他们确定欠他们的款项在到期时能否得到支付的资料。商业债权人只要不依赖企业继续作为其主要顾客，其对企业的关心在时间上就可能比贷款人要短。

（e）Customers.Customers have an interest in information about the continuance of an enterprise, especially when they have a long-term involvement with, or are dependent on, the enterprise.（5）顾客。顾客关心有关企业延续性方面的资料，尤其是当他们与企业有长期性联系或依赖企业时。

（f）Governments and their agencies.Governments and their agencies are interested in the allocation of resources and, therefore, the activities of enterprises.They also require information in order to regulate the activities of enterprises, determine taxation policies and as the basis for national income and similar statistics.（6）政府及其机构。政府及其机构关心资源的分配，因此也关心企业的活动。为了管理企业的活动、决定税收政策和作为国民收入等类似统计资料的基础，它们也需要资料。

（g）Public.Enterprises affect members of the public in a variety of ways.For example, enterprises may make a substantial contribution to the local economy in many ways including the number of people they employ and their patronage of local suppliers.Financial statements may assist the public by providing information about the trends and recent developments in the prosperity of the enterprise and the range of its activities.（7）公众。企业以各种方式影响公众的成员。例如，企业可能以多种方式对当地经济作出贡献，包括其雇请的人数和对当地供应商的惠顾。财务报表通过提供关于企业兴衰趋势、近期发展和活动范围方面的资料，可以对公众有所帮助。

10.While all of the information needs of these users cannot be met by financial statements, there are needs which are common to all users.As investors are providers of risk capital to the enterprise, the provision of financial statements that meet their needs will also meet most of the needs of other users that financial statements can satisfy.虽然上述使用者对资料的需要不可能完全由财务报表来满足，但是仍然存在着对所有使用者来说是共同的需要。因为投资者是企业风险资本的提供者，因此，为了满足他们的需要而提供的财务报表，也可以满足财务报表能够满足的其他使用者的大部分需要。

11.The management of an enterprise has the primary responsibility for the preparation and presentation of the financial statements of the enterprise.Management is also interested in the information contained in the financial statements even though it has access to additional management and financial information that helps it carry out its planning, decision-making and control responsibilities.Management has the ability to determine the form and content of such additional information in order to meet its own needs.The reporting of such information, however, is beyond the scope of this framework.Nevertheless, published financial statements are based on the information used by management about the financial position, performance and changes in financial position of the enterprise.企业的管理当局对企业财务报表的编制和呈报负有首要责任。企业管理当局也关心财务报表中所包括的信息，尽管它能够取得有助于其执行计划、决策和控制职责的其他管理和财务方面的资料。管理当局有能力决定这类附加资料的形式和内容，以满足其自己的需要。然而，对这一类信息的报告，不属于本结构的范围。但是，公布的财务报表都是以管理当局所使用的关于企业财务状况、经营业绩和财务状况变动方面的资料为依据的。

Qualitative Characteristics of Financial Statements

24.Qualitative characteristics are the attributes that make the information provided in financial statements useful to users.The four principal qualitative characteristics are understandability, relevance, reliability and comparability.质量特征是指使财务报表提供的信息对使用者有用的那些属性。四项主要的质量特征是：可理解性、相关性、可靠性和可比性。

Understandability

25.An essential quality of the information provided in financial statements is that it is readily understandable by users.For this purpose, users are assumed to have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence.However, information about complex matters that should be included in the financial statements because of its relevance to the economic decision-making needs of users should not be excluded merely on the grounds that it may be too difficult for certain users to understand.财务报表所提供的信息的一条基本质量特征就是要让使用者便于理解。为此目的，人们假定使用者对商业和经济活动以及会计有恰当的了解并且愿意花费适当的精力去研究信息。然而，有些关于复杂事项的信息由于它们与使用者作经济决策的需要相关而应包括有财务报表之中，不能仅仅因为这些信息对于某些使用者来说过于难以理解而将它们排除在财务报表之外。

Relevance

26.To be useful, information must be relevant to the decision-making needs of users.Information has the quality of relevance when it influences the economic decisions of users by helping them evaluate past, present or future events or confirming, or correcting, their past evaluations.为了使信息有用，信息必须与使用者的决策需要相关。当信息能够通过帮助使用者评价过去、现在和未来事项或确认、更改他们过去的评价从而影响到使用者的经济决策时，信息就具有相关性。

27.The predictive and confirmatory roles of information are interrelated.For example, information about the current level and structure of asset holdings has value to users when they endeavour to predict the ability of the enterprise to take advantage of opportunities and its ability to react to adverse situations.The same information plays a confirmatory role in respect of past predictions about, for example, the way in which the enterprise would be structured or the outcome of planned operations.信息的预测作用和确认作用是相互联系的。例如，关于拥有资产的现有水平和结构的资料，在使用者致力于预测企业利用机遇和对付逆境的能力时，对使用者是有价值的。对于过去关于企业结构或计划安排的经营活动的结果等情况的预测，同样的资料则可以起到确认作用。

28.Information about financial position and past performance is frequently used as the basis for predicting future financial position and performance and other matters in which users are directly interested, such as pidend and wage payments, security price movements and the ability of the enterprise to meet its commitments as they fall due.To have predictive value, information need not be in the form of an explicit forecast.The ability to make pred