Question

求英语大神翻译

Ever since accounting shifted from the simple tallying of cash in and cash out to "accrual accounting", where profits and expenses are booked when incurred, forward-looking estimates have played a critical role in measuring company profits. The big- gest boost to estimation, however, has come from the gradual shift to "fair-value" accounting. Before, assets and liabilities were mostly carried at their historic, original cost; "fair value" is an attempt to show their current worth. Fair-value numbers are up- to-date and arguably more relevant than their static but verifiable precursors. But they also result in more volatile profits and a heavier reliance on estimates for the many items (bank loans, buildings) that may not have a ready market.Baruch Lev of New York University`s Stern School of Business, and Siyi Li and Theodore Sougiannis, from the University of Illinois at Urbana-Champaign, harbor a deeper worry: that estimates, which are supposed to improve the relevance of financial information by giving managers a means to impart their forward- looking views, are not very useful at all. They found that while recent cash flows predicted future perfor- mance, adding estimates to them was of little help.
Mr. Lev concludes that these results "point to the urgent need to enhance the reliability of accounting estimates-especially given the move to fair value.On this point, even proponents of fair value agree. The Financial Standards Accounting Board (FASB)
has devised a "hierarchy"of items according to how diffi- cult they are to value. At the top are items that have an observable price in a deep, liquid market (e.g., listed corporate debt). In the middle are items where sophis- ticated valuation models are based on market inputs (e.g., employee stock options). At the bottom are items where valuations are based wholly on manage- ment projections (e.g., Enron`s most esoteric financial instruments).
"Estimates are part of accounting. So the focus shouldn`t be on the number of estimates,"argues Neri Bukspan, chief accountant at Standard & Poor`s, "but rather the objectivity and independence of those making the estimates and those tasked with verifying them."This puts a greater onus on auditors to weed out good estimates from hyped ones-making their independence even more critical than it seemed after Enron. The Public Accounting Oversight Board, recognizing this, also plans to expand its audit guidance on fair value.
Investors need to scrutinize the numbers harder, too. Both FASB and its international counterpart are drafting standards requiring increased disclosure of how fair values are derived and their impact on profits and balance sheets.

很重要，能翻译多少翻译多少，万分感谢！！！！不要拿直译翻译工具
好的话一定追加！！！楼下翻译工具直译就算了吧。。

Answer 1

自从会计从简单清点资金的流入和流出变成了“责权发生制会计”，在登记收益或支出情况中，前瞻性评估会在公司利润计算中起关键作用。然而，评估的转折性飞跃则来源于“公允价值”会计的逐渐转变。从前，财产和债务通常会带入历史原始成本，“公允价值”是展示其流通价值的尝试。公允价值通常是实时更新的，且富有争议的相对于其稳定并可证实的前导（原始成本？）更有价值。然而公允价值也引发了更多的蒸发利润，同时它对许多也许并不具有现货市场的物件（银行贷款和房地产）的评估具有较强的依赖性。纽约大学斯特恩商学院的巴鲁列弗、伊利诺大学香槟分校的李思毅和西奥多索詹尼斯却更担心另一个事实：评估的意义在于通过给管理者提供决策意向而提升经济信息的关联价值，然而实际上评估却没多少用。他们发现现金流动可以预测未来的经济走向，在此过程中评估往往不会起到任何作用。

列弗总结这些结果明确了特异性评估相关的公允价值会计的可靠性急待提高，这一点连公允价值的支持者也是认同的。财务会计标准委员会(FASB)对物品可估价的困难程度进行了定级，最高等级为深度大、流动性好的市场（例如上市公司债务）；位于中间的是通过市场输入可建立精准估价模型的物件（例如员工购股权）；处于底部的是估价完全取决于管理方案的物件（例如安然公司的复杂金融工具）。

“评估是会计的一部分。所以着眼点不应该在于评估的数目。”标准普尔首席会计师内里布克思班说，而在于评估的客观性和独立性，以及可证实该评估的项目。”将炒作性的评估（甚至在安然之后其独立性仍颇有争议）从好的评估中淘汰出去是审计师最大的责任。公众公司会计监督委员会计划把这项审计原则实施于公允价值。

投资者也需要对数字进行仔细观察，FASB及其国际合作者都在起草如何公平导入公允价值及其如何对资产收益负债产生影响的信息标准。

我不是学金融的，有些词汇可能需要专业知识修改。

Answer 2

自从会计转向从简单的清点现金流入和流出的“权责发生制”，其中的利润和一般费用已经发生时，前瞻性的估计都发挥了关键作用，测量公司的利润。大-武功提高估计，然而，已经逐渐转变为对公允价值会计。之前，资产和负债大多在他们的历史，原来的成本；“公允价值”是一个试图表明他们目前的价值。公允价值的数量有所增加，最新的和可以说是更多的相关比静态但可核查的前体。但他们也因此越来越不稳定的利润和较重的依赖估计的许多项目（银行贷款，建筑），可能没有一个现成的市场。巴鲁克利的纽约大学`的商学院，和李和西奥多sougiannis四溢，由伊利诺伊大学博士，港更深的担忧：估计，这是为了改善相关的财务信息的管理手段，传授向前看，不是非常有用的所有。他们发现，虽然最近的现金流量预测未来的能力，增加估计他们是没有多大帮助。
先生认为这些结果“利指出，迫切需要提高会计信息的可靠性，estimates-especially鉴于移动到公允价值。关于这一点，甚至主张公平价值认同。财务会计准则委员会（美国）
设计了一个“层次”的项目根据如何不崇拜他们的价值。在顶部的项目，有一个看得见的价格在一个深，液体市场（例如，上市公司债务）。在中东的项目，为- ticated估价模型是基于市场的投入（例如，员工股票期权）。在底部是项目估值是完全基于管理与预测（例如，安然`最深奥的金融工具）。
“估计是部分会计。所以重点不应该是`人数的估计，认为内里bukspan，总会计师在标准普尔`，”而不是客观和独立作出了估计和那些负责核实。”这一更大的责任，审计人员剔除好估计炒作ones-making独立更重要的比它似乎后安然。公共会计监督委员会，认识到这一点，还计划扩大其公允价值审计指导。
投资者需要仔细检查号码，太。两个委员会和国际起草标准要求增加披露如何公平价值产生的影响和利润和资产负债表。
Ever since accounting shifted from the simple tallying of cash in and cash out to "accrual accounting", where profits and expenses are booked when incurred, forward-looking estimates have played a critical role in measuring company profits. The big- gest boost to estimation, however, has come from the gradual shift to "fair-value" accounting. Before, assets and liabilities were mostly carried at their historic, original cost; "fair value" is an attempt to show their current worth. Fair-value numbers are up- to-date and arguably more relevant than their static but verifiable precursors. But they also result in more volatile profits and a heavier reliance on estimates for the many items (bank loans, buildings) that may not have a ready market.Baruch Lev of New York University`s Stern School of Business, and Siyi Li and Theodore Sougiannis, from the University of Illinois at Urbana-Champaign, harbor a deeper worry: that estimates, which are supposed to improve the relevance of financial information by giving managers a means to impart their forward- looking views, are not very useful at all. They found that while recent cash flows predicted future perfor- mance, adding estimates to them was of little help.
Mr. Lev concludes that these results "point to the urgent need to enhance the reliability of accounting estimates-especially given the move to fair value.On this point, even proponents of fair value agree. The Financial Standards Accounting Board (FASB)
has devised a "hierarchy"of items according to how diffi- cult they are to value. At the top are items that have an observable price in a deep, liquid market (e.g., listed corporate debt). In the middle are items where sophis- ticated valuation models are based on market inputs (e.g., employee stock options). At the bottom are items where valuations are based wholly on manage- ment projections (e.g., Enron`s most esoteric financial instruments).
"Estimates are part of accounting. So the focus shouldn`t be on the number of estimates,"argues Neri Bukspan, chief accountant at Standard & Poor`s, "but rather the objectivity and independence of those making the estimates and those tasked with verifying them."This puts a greater onus on auditors to weed out good estimates from hyped ones-making their independence even more critical than it seemed after Enron. The Public Accounting Oversight Board, recognizing this, also plans to expand its audit guidance on fair value.
Investors need to scrutinize the numbers harder, too. Both FASB and its international counterpart are drafting standards requiring increased disclosure of how fair values are derived and their impact on profits and balance sheets.

Answer 3

Ever since accounting shifted from the simple tallying of cash in and cash out to "accrual accounting", where profits and expenses are booked when incurred, forward-looking estimates have played a critical role in measuring company profits.
自从会计转变从简单的计数的现金和现金“权责发生制”,利润和费用都订了发生时,前瞻性的估计中起到了重要的作用,在测量公司利润。
The big- gest boost to estimation, however, has come from the gradual shift to "fair-value" accounting.
大-武功推动估计,然而,来自逐渐转向“公允价值”会计。
Before, assets and liabilities were mostly carried at their historic, original cost; "fair value" is an attempt to show their current worth.
以前,资产和负债大多是在他们的历史,进行原始成本;“公允价值”是一个试图展示他们的当前价值。
Fair-value numbers are up- to-date and arguably more relevant than their static but verifiable precursors.
公允价值的数字,截至目前,可以说比他们更相关的静态但可证实的前兆。
But they also result in more volatile profits and a heavier reliance on estimates for the many items (bank loans, buildings) that may not have a ready market.
但他们也导致利润的波动性更大,更重的依赖估计许多项(银行贷款、建筑物),可能没有一个现成的市场。
Baruch Lev of New York University`s Stern School of Business, and Siyi Li and Theodore Sougiannis, from the University of Illinois at Urbana-Champaign, harbor a deeper worry: that estimates, which are supposed to improve the relevance of financial information by giving managers a means to impart their forward- looking views, are not very useful at all.
巴鲁克列弗的纽约大学斯特恩商学院的,李和西奥多·Sougiannis李金坤先生,从伊利诺斯大学香槟分校港一个更深层次的担忧:估计,应该提高财务信息的相关性通过给经理来传授他们的前锋——看起来并不是很有用的观点,在所有。
They found that while recent cash flows predicted future perfor- mance, adding estimates to them was of little help.
他们发现,虽然最近的现金流预测未来表现得-曼斯,增加对他们的估计是没什么帮助。
Mr. Lev concludes that these results "point to the urgent need to enhance the reliability of accounting estimates-especially given the move to fair value.
奥列弗总结说,这些结果“指向迫切需要提高可靠性的会计估计,尤其是考虑到移动到公平价值。
On this point, even proponents of fair value agree.
在这一点上,即使公允价值的支持者同意。
The Financial Standards Accounting Board (FASB)
财务会计标准委员会(FASB)
has devised a "hierarchy"of items according to how diffi- cult they are to value.
设计了一个“层次”的物品根据——他们是如何通过崇拜的价值。
At the top are items that have an observable price in a deep, liquid market (e.g.
顶部是一种可见的东西价格在深、液体市场(如。
, listed corporate debt).
,上市公司债务)。
In the middle are items where sophis- ticated valuation models are based on market inputs (e.g.
在中间的是商品在sophis——ticated估值模型是基于市场的输入(如。
, employee stock options).
,雇员股票期权)。
At the bottom are items where valuations are based wholly on manage- ment projections (e.g.
在底部是商品在估值是基于完全在管理交货期预测(如。
, Enron`s most esoteric financial instruments).
,安然的最深奥的金融工具)。
"Estimates are part of accounting.
“估计是会计。
So the focus s
所以焦点年代

Answer 4

自从会计转变从简单的计数的现金和现金“权责发生制”,利润和费用都订了发生时,前瞻性的估计中起到了重要的作用,在测量公司利润。大-武功推动估计,然而,来自逐渐转向“公允价值”会计。以前,资产和负债大多是在他们的历史,进行原始成本;“公允价值”是一个试图展示他们的当前价值。公允价值的数字,截至目前,可以说比他们更相关的静态但可证实的前兆。但他们也导致利润的波动性更大,更重的依赖估计许多项(银行贷款、建筑物),可能没有一个现成的市场。巴鲁克列弗的纽约大学斯特恩商学院的,李和西奥多·Sougiannis李金坤先生,从伊利诺斯大学香槟分校港一个更深层次的担忧:估计,应该提高财务信息的相关性通过给经理来传授他们的前锋——看起来并不是很有用的观点,在所有。
他们发现,虽然最近的现金流预测未来表现得-曼斯,增加对他们的估计是没什么帮助。
奥列弗总结说,这些结果“指向迫切需要提高可靠性的会计估计,尤其是考虑到移动到公平价值。在这一点上,即使公允价值的支持者同意。财务会计标准委员会(FASB)
设计了一个“层次”的物品根据——他们是如何通过崇拜的价值。顶部是一种可见的东西价格在深、液体市场(如。,上市公司债务)。在中间的是商品在sophis——ticated估值模型是基于市场的输入(如。,雇员股票期权)。在底部是商品在估值是基于完全在管理交货期预测(如：安然的最深奥的金融工具)。
“估计是会计。所以焦点不该在数量的估计,“认为内里Bukspan、总会计师在标准普尔,”而是客观性、独立性的那些使估计,那些负责验证它们。“这将更有责任审计人员来剔除好估计从炒作的使他们的独立性更关键的比它似乎在安然。公共会计监管委员会,认识到这一点,还计划扩大其审计指导公允价值。
投资者需要仔细查看数字也更厉害。FASB和它的国际同行都是标准的起草要求增加信息披露公允价值如何导出及其影响利润和资产负债表。

Answer 5

自从会计转向从简单的清点现金流入和流出的“权责发生制”，其中的利润和一般费用已经发生时，前瞻性的估计都发挥了关键作用，测量公司的利润。大-武功提高估计，然而，已经逐渐转变为对公允价值会计。之前，资产和负债大多在他们的历史，原来的成本；“公允价值”是一个试图表明他们目前的价值。公允价值的数量有所增加，最新的和可以说是更多的相关比静态但可核查的前体。但他们也因此越来越不稳定的利润和较重的依赖估计的许多项目（银行贷款，建筑），可能没有一个现成的市场。巴鲁克利的纽约大学`的商学院，和李和西奥多sougiannis四溢，由伊利诺伊大学博士，港更深的担忧：估计，这是为了改善相关的财务信息的管理手段，传授向前看，不是非常有用的所有。他们发现，虽然最近的现金流量预测未来的能力，增加估计他们是没有多大帮助。
先生认为这些结果“利指出，迫切需要提高会计信息的可靠性，estimates-especially鉴于移动到公允价值。关于这一点，甚至主张公平价值认同。财务会计准则委员会（美国）
设计了一个“层次”的项目根据如何不崇拜他们的价值。在顶部的项目，有一个看得见的价格在一个深，液体市场（例如，上市公司债务）。在中东的项目，为- ticated估价模型是基于市场的投入（例如，员工股票期权）。在底部是项目估值是完全基于管理与预测（例如，安然`最深奥的金融工具）。
“估计是部分会计。所以重点不应该是`人数的估计，认为内里bukspan，总会计师在标准普尔`，”而不是客观和独立作出了估计和那些负责核实。”这一更大的责任，审计人员剔除好估计炒作ones-making独立更重要的比它似乎后安然。公共会计监督委员会，认识到这一点，还计划扩大其公允价值审计指导。
投资者需要仔细检查号码，太。两个委员会和国际起草标准要求增加披露如何公平价值产生的影响和利润和资产负债表。