利润表中的投资性房地产在公允价值模式下的变化：来自于香港的证据外文翻译.doc

本科毕业论文（设计） 外 文 翻 译 外文题目 Value-relevance of presenting changes in fair value of investment properties in the income statement: evidence from Hong Kong 外文出处 Accounting and Business Research 外文作者 Stella So and Malcolm Smith 原文： Value-relevance of presenting changes in fair value of investment properties in the income statement: evidence from Hong Kong IAS 40 (2000) represents the first time that the IASB permits a fair value model for non-financial assets (IASCF, 2008c). Under the fair value model, investment properties are carried at fair values and changes in fair value, whether up or down, are included in the profit or loss for the period and presented in the income statements. Supporters of the fair value model believe that fair values give users of financial statements more useful information than other measures, such as depreciated cost, and changes in fair value are inextricably linked as integral components of the financial performance of an investment property and are therefore presented in the income statements (IASCF, 2008c). Although IAS 40 (2000) permits entities to choose between a fair value model or a cost model, the Basis for Conclusions on IAS 40 (2000) states clearly that it is highly unlikely that a subsequent change from the fair value model to the cost model can be made on the grounds of more appropriate presentation (IASCF, 2008c). However, Penman (2007) does not entirely agree; he evaluates historical cost and fair value accounting from two perspectives-equity valuation and stewardship and concludes that while fair value accounting is a plus at a conceptual level, the minuses add up with fair value implemented as exit price (whether estimated or observed in active markets) and the problems with historical cost accounting remains unresolved. Singleton-Green (2007) summarises the problems of fair value accounting as: (1) the lack of active markets for most assets and