西方财务会计英文.doc

Proposed Implementation GuidanceIG1. The implementation guidance below further explains and illustrates theapplication of the proposed guidance. This implementation guidance does notaddress all possible variations. The actual facts and circumstances of particularfinancial instruments or transactions must be considered carefully in relation tothe proposed guidance.ScopeIG2. The proposed guidance applies to financial assets and financialliabilities that are not specifically excluded from the scope by paragraph 4. Forexample, the scope of the proposed guidance would include the following typesof financial assets and liabilities:a. Accounts receivable and payableb. Other receivables and payablesc. Originated and purchased loansd. Investments in debt securitiese. Investments in equity securities (except investments in equitysecurities that qualify for the use of the equity method of accountingas discussed in paragraph 129)f. Core and noncore depositsg. Issued debth. Hybrid financial instrumentsi. Financial derivative instrumentsj. Financial guarantees not covered by paragraph 4(d) and (o)k. Loan commitments and standby letters of credit (except loancommitments excluded from the scope by paragraph 4(j) and (k).IG3. With respect to financial derivative instruments, the proposed guidanceincludes in its scope both those financial derivative assets and financialderivative liabilities that meet the definition of a derivative in Topic 815 and thosefinancial derivative instruments that do not meet that definition because they donot have one or more characteristics of a derivative.IG4. Nonfinancial hybrid instruments are not subject to the scope of theproposed guidance. In addition, the proposed guidance is not applicable to hybridinstruments with insurance host contracts or lease host contracts because thosetypes of financial instruments are excluded from the scope of the proposedguidance. In addition, the proposed guidance would require holders of hybridinstruments containing equity hosts to be measured at fair value with all changesin fair value recognized in net income.67IG5. In addition, hybrid financial instruments containing a liability componentand an equity component will continue to be evaluated under guidance in Topic470, 480, or another Topic to determine whether separation of an equitycomponent is required. If so, the scope exception in paragraph 4(b) applies tothat equity component and the proposed guidance would apply to the liabilitycomponent.IG6. The proposed guidance does not present the overall revised guidanceon derivatives and hedging. Only the changes to the guidance on derivatives andhedging in Topic 815 are described. The changes affect all hedging relationships,whether the hedging instrument is a financial derivative instrument or anonfinancial derivative instrument and whether the hedged item is (or hedgedtransaction involves) a financial instrument or a nonfinancial instrument.Initial MeasurementIG7. Paragraph 14 states that when an entity initially recognizes a financialasset or financial liability that meets the criteria for qualifying changes in fairvalue to be recognized in other comprehensive income, the entity mustdetermine whether there is reliable evidence to indicate that the transaction pricemay be significantly different from the fair value of the financial instrument.Paragraph 820-10-30-3 discusses conditions that may indicate that a transactionprice might not represent the fair value of an asset or liability. The proposedguidance about whether a significant difference exists focuses on the conditiondiscussed in paragraph 820-10-30-3(c) that the financial instrument is only oneelement of a transaction that may involve other elements. Accordingly, if noreliable evidence indicates that there may be a significant difference between thetransaction price and the fair value, the entity would use the transaction price toinitially measure the financial instrument. However, if reliable evidence indicatesthat there may be a significant difference between the transaction price and thefair value, the entity would be required to determine if the difference isattributable to the existence of other elements in the transaction.IG8. In assessing whether reliable evidence exists that indicates that thetransaction price differs significantly from the fair value of a financial instrument,such that other element(s) exist in the transaction, the factors that an entityshould consider include any of the following:a. The terms of a financial instrument, such as upfront and ongoingfees, duration, collateral, and restrictive covenantsb. Prevailing rates offered to other borrowers or offered by otherlenders for similar financial instruments that are not influenced byunstated or stated rights and privilegesc. Prevailing rates of other financial instruments with the sameborrower or lender that are not influenced by unstated or statedrights and privileges68d. The price that a third-party buyer would be willing to pay to acquirea financial asset or to assume a financial liabilitye. If noncash items are exchanged, the current cash price for thesame or similar items exchanged in the transaction.IG9. An entity should consider all relevant facts and circumstances to decidewhether the transaction price is significantly different from the fair value. An entityshould exercise judgment to decide what is considered a significant difference.For example, if the market interest rate on a 30-year conforming loan is 5.50percent and if an entity originates a similar loan at 4 percent with no fees or otherconsideration to compensate the lender for the rate differential, the transactionprice of the loan may be significantly different from its fair value. Anotherexample would be a loan commitment with fees that are significantly less thanthe price an entity would pay to a third party for assuming the liability, whichwould include credit risk and interest risk associated with the commitment.IG10. Consistent with the guidance in paragraph 820-10-30-3(c), if thetransaction involves a financial instrument and other elements, each elementmust be separately recognized. As discussed in Section 835-30-25, the otherelement or elements in the transaction may represent unstated rights andprivileges that should be given proper accounting recognition. One example of atransaction that may include stated or unstated rights or privileges is a loanoffered at an off-market interest rate as sales incentives by a manufacturer, afinancing subsidiary of a manufacturer, or a financial entity. Another example is acredit facility offered at an off-market rate in exchange for goods or services atoff-market prices.IG11. In these circumsta