外幣折算外文翻譯

1、<p><b>　　中文5325字</b></p><p>　　本科畢業(yè)論文（設(shè)計）</p><p>　　外 文 翻 譯</p><p>　　外文題目 Foreign currency translation </p><p>　　外文出處 Inte

2、rnational Accounting (4th Edition) [M]. </p><p>　　Prentice Hall, 2002. 235-241. </p><p>　　外文作者 Frederick D. Choi, Gary K. Meek. </p><p><b>

3、　　原文：</b></p><p>　　Foreign currency translation</p><p>　　Foreign currency translation is one of the most vexing and controversial technical issues in accounting. It has defied theoretical

4、and practical solutions and will continue to be of great interest due to fluctuating currency markets and the globalization of business and the world’s securities markets.</p><p>　　Translation is the process

5、 of restating financial statement information from one currency to another. It is necessary whenever a company with operations in more than one country prepares consolidated(or group) financial statements that combine fi

6、nancial accounts denominated in one national currency with accounts denominated in another(i.e., the parent country’s) currency. Many of its problems stem from the fact that foreign exchange rates are seldom fixed. Varia

7、ble exchange rates, combined with </p><p>　　Companies operating internationally use a variety of methods to express, in terms of their domestic currency, the assets, liabilities, revenues, and expenses that

8、are stated in a foreign currency. These translation methods can be classified into two types: those that use a single translation rate to restate foreign balances to their domestic currency equivalents and those that use

9、 multiple rates. </p><p>　　Single rate method</p><p>　　The single rate method, long popular in Europe, applies a single exchange rate, the current or closing rate, to all foreign currency assets

10、 and liabilities. Foreign currency revenues and expenses are generally translated at exchange rates prevailing when these items are recognized.</p><p>　　For convenience, however, these items are typically tr

11、anslated by an appropriately weighted average of current exchange rates for the period. Under this method, the financial statements of a foreign operation (viewed by the parent as an autonomous entity) have their own rep

12、orting domicile: the local currency environment in which the foreign affiliate does business.</p><p>　　Under the current rate method, the consolidated statements preserve the original financial statement rel

13、ationships (such as financial ratios) of the individual entities as all foreign currency financial statement items are translated by a single rate. That is, consolidated results reflect the currency perspectives of each

14、entity whose results go into the consolidated totals, not the single-currency perspective of the parent company. Some people fault this method on the grounds that using multipl</p><p>　　For accounting purpos

15、es, a foreign currency asset or liability is said to be exposed to exchange rate risk if a change in the exchange rate causes its parent currency equivalent to change. Given this definition, the current rate method presu

16、mes that all local currency assets are exposed to exchange risk as the current (versus the historical) rate changes the parent currency equivalent of a foreign currency balance every time exchange rates change. This se

17、ldom happens, however, as inventory and</p><p>　　Consider the following example. Suppose that a foreign affiliate of a U.S. multinational corporation (MNC) buys a tract of land at the beginning of the period

18、 for FC1000000. The exchange rate (historical rate) was FC1=$1. Thus, the historical cost of the investment in dollars is $1000000. Due to inflation, the land rises in value to FC 1500000(unrecognized under U.S. GAAP) wh

19、ile the exchange rate declines to FC1.4=$1 by period’s end. If this foreign currency asset were translated to U.S. dollars</p><p>　　Finally, translating all foreign currency balances by the current rate crea

20、tes translation gains and losses every time exchange rates change. Reflecting such exchange adjustments in current income could significantly distort reported measures of performance. Many of these gains and losses may n

21、ever be fully realized, as changes in exchange rates often reverse direction.</p><p>　　Multiple rate methods</p><p>　　Multiple rate methods combine the current and historical exchange rates in t

22、he translation process.</p><p>　　Current-noncurrent method</p><p>　　Under the current-noncurrent method, a foreign subsidiary’s current assets and current liabilities are translated into their p

23、arent company’s reporting currency at the current rate. Noncurrent assets and liabilities are translated at historical rates. Income statement items (except for depreciation and amortization changes) are translated at av

24、erage rates applicable to each month of operation or on the basis of weighted averages covering the whole period being reported. Depreciation and amortiza</p><p>　　Unfortunately, this method makes little eco

25、nomic sense. Using the year-end rate to translate current assets implies that foreign currency cash, receivables, and inventories are equally exposed to exchange risk. This is simply not true. For example, if the local p

26、rice of inventory can be increased after a devaluation, its value is protected from currency exchange risk. On the other hand, translation of long-term debt at the historical rate shifts the impact of fluctuating currenc

27、ies to the year o</p><p>　　Monetary-nonmonetary method</p><p>　　The monetary-nonmonetary method also uses a balance sheet classification scheme to determine appropriate translation rates. Moneta

28、ry assets and liabilities are translated at the current rate. Nonmonetary items—fixed assets, long-term investments, and inventories---are translated at historical rates. Income statement items are translated under proce

29、dures similar to those described for the current-noncurrent framework.</p><p>　　Unlike the current-noncurrent method, this method views monetary assets and liabilities as exposed to exchange rate risk. Since

30、 monetary items are settled in cash, use of the current rate to translate these items produces domestic currency equivalents that reflect their realizable or settlement values. It also reflects changes in the domestic cu

31、rrency equivalent of long-term debt in the period in which they occur, producing a more timely indicator of exchange rate effects.</p><p>　　Note, however, that the monetary-nonmonetary method relies on a cla

32、ssification scheme to determine appropriate translation rates. This may lead to inappropriate results. For example, this method translates all nonmonetary assets at historical rates, which is not reasonable for assets st

33、ated at current market values (such as investment securities and inventory and fixed assets written down to market). Multiplying the current market value of a nonmonetary asset by a historical exchange rate yields</p&

34、gt;<p>　　Temporal method </p><p>　　With the temporal method, currency translation is a measurement conversion process or a restatement of a given value. It does not change the attribute of an item bei

35、ng measured; it only changes the unit of measure. Translation of foreign balances restates the currency denomination of these items, but not their actual valuation. Under U.S. GAAP, cash is measured in terms of the amoun

36、t owned at the balance sheet date. Receivables and payables are stated at amounts expected to be received or paid w</p><p>　　In the temporal method, monetary items such as cash, receivables, and payables are

37、 translated at the current rate. Nonmonetary items are translated at rates that preserve their original measurement bases. Specifically, assets carried on the foreign currency statements at historical cost are translated

38、 at the historical rate. Why? Because historical cost in foreign currency translated by a historical exchange rate yields historical cost in domestic currency. Similarly, nonmonetary items carried a</p><p>　

39、　When nonmonetary items abroad are valued at historical cost, the translation procedures resulting from the temporal method are virtually identical to those produced by the monetary-nonmonetary method. The two translatio

40、n methods differ only if other asset valuation bases are employed, such as replacement cost, market values, or discounted cash flows.</p><p>　　Because it is similar to the monetary-nonmonetary method, the te

41、mporal method shares most of its advantages and disadvantages. In deliberately ignoring local inflation, this method shares a limitation with the other translation methods discussed. (Of course, historical cost accountin

42、g ignores inflation as well!).</p><p>　　All four methods just described have been used in the United States at one time or another and can be found today in various countries. In general, they produce notice

43、ably different foreign currency translation results. The first three methods (i.e., the current rate, current-noncurrent, and monetary-nonmonetary) are predicated on identifying which assets and liabilities are exposed t

44、o, or sheltered from, currency exchange risk. The translation methodology is then applied consistent with this di</p><p>　　Which is best?</p><p>　　We reject the traditional assumption that a sin

45、gle translation method can be appropriate for all circumstances in which translations occur and for all purposes that translation serves. Circumstances underlying foreign exchange translation differ widely. Translating a

46、ccounts from a stable to an unstable currency is not the same as translating accounts from an unstable currency to a stable one. Likewise, there is little similarity between translations involving import-or export-type t

47、ranslations a</p><p>　　Second, translations are made for different purposes. Translating the accounts of a foreign subsidiary to consolidate those accounts with those of the parent company has very little in

48、 common with translating the accounts of an independent company mainly for the convenience of various foreign audiences-of –interest.</p><p>　　We therefore pose three questions:</p><p>　　Is it r

49、easonable to use more than one translation method?</p><p>　　If so, what should be the acceptable methods and under what conditions should they be applied?</p><p>　　Are there situations in which

50、translations should not be done at all?</p><p>　　As to the first question, it is clear that a single translation method cannot equally serve translations occurring under different conditions and for differen

51、t purposes. More than one translation method is needed.</p><p>　　Regarding the second question, we think that three different translation approaches can be accepted: (1) the historical method, (2) the curren

52、t method, and (3) no translation at all. Financial accounts of foreign entities can be translated either from a parent company perspective or from a local perspective. Under the parent company perspective, foreign operat

53、ions are extensions of parent company operations and are, in large measure, sources of domestic currency cash flows. Accordingly, the obje</p><p>　　The temporal translation method is easily adapted to proces

54、ses that make accounting adjustments during the translation. When this is so, adjustments for differences between two or more sets of accounting concepts and practices are made along with the translation of currency amou

55、nts. For example, inventories or certain liabilities may be restated according to accounting practices different from those originally used. The temporal principle can accommodate any asset valuation framework, be it his

56、t</p><p>　　The current rate method of translation is a straightforward translation (restatement) from one currency language to another. There is no change in the nature of the accounts; only their particular

57、 form of expression is changed. The current rate method is appropriate when the translated accounts of foreign subsidiaries keep the local currency as the unit of measure; that is, when foreign entities are viewed from a

58、 local (as opposed to a parent) company perspective. Translation at the current rate</p><p>　　A second use of the current rate method happens when price-level-adjusted accounts are to be translated to anothe

59、r currency. If reliable price level adjustments are made in a given set of accounts and if domestic price level changes for the currency are reflected closely in related foreign exchange rate movements, the current rate

60、translation of price-level-adjusted data yields results that are comparable to translating historical cost accounts under the historical rate translation method. </p><p>　　Are there situations in which trans

61、lations should not be done at all? We think so. No translation is appropriate between highly unstable and highly stable currencies. Translation of one into the other will not produce meaningful information using any tran

62、slation method. No translation also means non-consolidation of financial statements. We think this is reasonable. If a currency is unstable enough to put account translations out of the question, financial statement cons

63、olidation should also be </p><p>　　Current trends</p><p>　　We conclude with our opening comment: Foreign currency translation is one of the most vexing and controversial technical issues in acco

64、unting, and is far from resolution. Where are we headed internationally? Will we ever reach closure? We think that the answer depends on how the harmonization activities of the IASB unfold. An increasing number of intern

65、ationally listed companies are following IAS and the world’s stock exchanges are under increasing pressure to allow IAS in lieu of domestic stand</p><p>　　Source: International Accounting (4th Edition) [M].

66、Prentice Hall, 2002.216-224.</p><p><b>　　譯文：</b></p><p><b>　　外幣折算</b></p><p>　　外幣折算在會計領(lǐng)域是一個令人困擾且有爭議的技術(shù)問題。人們至今仍對其興趣濃厚，不僅是因為它有違會計理論和實務(wù)操作，更是因為貨幣市場波動，經(jīng)濟(jì)全球化，全球證券市

67、場發(fā)展等外在環(huán)境的需求。</p><p>　　折算就是將財務(wù)報表從一種貨幣重述為另一種貨幣的過程。當(dāng)一個跨國公司在準(zhǔn)備合并財務(wù)報表時，即需將國外子公司以國外貨幣計價的財務(wù)報表按照母公司的報告貨幣進(jìn)行重述時，外幣折算就顯得尤為必要。由于外幣的相對價值很少是固定的，因此貨幣折算會帶來很多的問題。多變的匯率，加上可以采用多種折算方法以及對折算損益的不同處理方式，使得很難比較不同公司之間，或者同一家公司不同時期的財務(wù)狀況

68、。在這種情況下，對經(jīng)營成果和財務(wù)狀況進(jìn)行有意義的披露成為跨國公司的一大挑戰(zhàn)。財務(wù)分析師發(fā)現(xiàn)理解這些信息也具有很多的挑戰(zhàn)性，并且這些困擾在評價管理業(yè)績時也會出現(xiàn)。</p><p>　　國際化運營的公司采用一系列方法將以外幣表示的資產(chǎn)、負(fù)債、收入和費用折算為本國貨幣。這些折算方法可以劃分為兩類：采用單一折算匯率將外幣余額重述為本國貨幣的方法和采用多種折算匯率的方法。</p><p><b

69、>　　單一匯率法</b></p><p>　　單一匯率法長期盛行于歐洲，它對所有的外幣資產(chǎn)和負(fù)債都采用一種單一的匯率，即現(xiàn)行匯率或期末匯率。外幣收入和費用一般按照這些項目被確認(rèn)時采用的匯率進(jìn)行折算。</p><p>　　但是，出于方便的考慮，這些項目通常采用當(dāng)期現(xiàn)行匯率的適當(dāng)加權(quán)平均數(shù)來進(jìn)行折算。在這些方法下，國外經(jīng)營（被母公司視為獨立自主的主體）的財務(wù)報表有自己的報告基

70、地：國外聯(lián)營公司開展業(yè)務(wù)所處的當(dāng)?shù)刎泿怒h(huán)境。</p><p>　　在現(xiàn)行匯率法下，由于所有外幣財務(wù)報表項目都按照單一匯率折算，因此，合并報表保留了個別主體財務(wù)報表中原來的關(guān)系（如財務(wù)比率）。也就是說，合并后的成果反映了那些成果被合并的每個主體的貨幣度量，違背了合并財務(wù)報表的基本目的。</p><p>　　出于會計的目的，如果母公司貨幣等值的變動是由于用來折算外幣資產(chǎn)或負(fù)債的匯率的變動所引起

71、的，就稱該項外幣資產(chǎn)或負(fù)債暴露在匯率風(fēng)險中（即遭受匯率風(fēng)險）。根據(jù)這一定義，因為外幣余額的母公司貨幣等值會隨著現(xiàn)行匯率（相對于歷史匯率）的變動而變動，所以現(xiàn)行匯率法假定所有采用當(dāng)?shù)刎泿庞嬃康馁Y產(chǎn)都暴露在外匯風(fēng)險中。這種假定很少與經(jīng)濟(jì)現(xiàn)實相吻合，因為存貨和固定資產(chǎn)的價值通常受到當(dāng)?shù)赝ㄘ浥蛎浀挠绊憽?lt;/p><p>　　考慮下面的例子。假定一家美國跨國公司的國外聯(lián)營公司在期初以1000000FC購入一大塊土地。匯率（

72、歷史匯率）為1FC=$1。因此，這項投資以美元計量的歷史成本為1000000美元。出于物價變動，這塊土地升值為1500000FC（按照公認(rèn)會計原則，屬于為實現(xiàn)的），而期末匯率降為1.4FC=$1。如果采用現(xiàn)行匯率法將這項外幣資產(chǎn)折算成美元，它以美元計量的原始價值1000000美元現(xiàn)在將被記錄成714286美元，這意味著285714美元的匯兌損失。然而，這塊土地公允價值的增加表明，實際上它以美元計量的現(xiàn)行價值是1071285美元。這意味著

73、，如果在折算之前沒有根據(jù)當(dāng)?shù)匚飪r變動水平進(jìn)行調(diào)整，折算出來的資產(chǎn)價值毫無意義。而且，用現(xiàn)行市場匯率折算歷史成本數(shù)額會產(chǎn)生一個既不是歷史成本也不是現(xiàn)行市價的折算結(jié)果。</p><p>　　最后，采用現(xiàn)行匯率折算所有的外幣余額，在每次匯率變動時都會產(chǎn)生折算利得和損失。在當(dāng)期收益中反映這些匯兌調(diào)整，可能會嚴(yán)重歪曲報告業(yè)績的計量。由于匯率經(jīng)常發(fā)生相反方向的變動，許多這類利得和損失可能永遠(yuǎn)都無法完全實現(xiàn)。</p>

74、;<p><b>　　多種匯率法</b></p><p>　　多種匯率法在折算過程中結(jié)合采用現(xiàn)行匯率和歷史匯率。</p><p>　　(1)流動-非流動法</p><p>　　在流動-非流動法（current-noncurrent method）下，國外子公司的流動資產(chǎn)和流動負(fù)債采用現(xiàn)行匯率折算為母公司報告貨幣。非流動資產(chǎn)和負(fù)債采

75、用歷史匯率進(jìn)行折算。收益表項目（除折舊和攤銷費以外）采用整個報告期內(nèi)各月份的平均匯率或加權(quán)平均匯率進(jìn)行折算。折舊和攤銷費按照相關(guān)資產(chǎn)取得時的實際歷史匯率進(jìn)行折算。</p><p>　　不幸的是，這種方法沒有什么經(jīng)濟(jì)意義。采用年末匯率折算流動資產(chǎn)意味著外幣現(xiàn)金、應(yīng)收賬款和存貨都同樣地暴露在外匯風(fēng)險中。這個假設(shè)當(dāng)然是不正確的。例如，如果存貨的當(dāng)?shù)貎r格可能因為貨幣貶值而上升，這樣它的價值就不會因為現(xiàn)行匯率風(fēng)險而遭到損失

76、。另一方面，按照歷史匯率折算長期負(fù)債是將匯率波動的影響轉(zhuǎn)移到負(fù)債清償?shù)哪甓?。許多人認(rèn)為這與現(xiàn)實不相符。而且，流動和非流動的界定僅僅只是一種分類思路，并不是折算中采用哪種匯率的概念性依據(jù)。</p><p>　　(2)貨幣-非貨幣法</p><p>　　貨幣-非貨幣法（monetary-nonmonetary method）也采用資產(chǎn)負(fù)債表的分類思路來確定適當(dāng)?shù)恼鬯銋R率。貨幣性資產(chǎn)和負(fù)債按照現(xiàn)

77、行匯率折算。非貨幣性項目---固定資產(chǎn)、長期投資和存貨---按照歷史匯率折算。收益表項目的折算采用與流動-非流動法相似的處理程序。</p><p>　　與流動-非流動法不同的是，這種方法認(rèn)為貨幣性資產(chǎn)和負(fù)債暴露在匯率風(fēng)險之中。由于貨幣性項目用現(xiàn)金結(jié)算，采用現(xiàn)行匯率將這些項目折算成本國貨幣等值，反映了其可實現(xiàn)或清償?shù)膬r值。這種方法也反映了長期負(fù)債在其各個存續(xù)期間內(nèi)本國貨幣等值發(fā)生的變動，從而及時地披露了匯率變動的影

78、響。</p><p>　　然而，需要注意的是，貨幣-非貨幣法也是依賴分類思路來確定適當(dāng)?shù)恼鬯銋R率的。這種處理可能導(dǎo)致不恰當(dāng)?shù)慕Y(jié)果。例如，這種方法采用歷史匯率折算所有的非貨幣性資產(chǎn)，對于那些用現(xiàn)行市價計價的資產(chǎn)（例如，將證券投資、存貨和固定資產(chǎn)的賬面價值降低為現(xiàn)行市價）來說，這種做法是不合理的。將非貨幣性資產(chǎn)的現(xiàn)行市價與歷史匯率相乘而產(chǎn)生的本國貨幣金額，既不是該項目的現(xiàn)行價格等值，也不是它的歷史成本。這種方法還將按

79、照現(xiàn)行價格和現(xiàn)行匯率折算的收入與按照歷史成本和歷史匯率折算的銷售成本相配比，從而歪曲了企業(yè)的毛利。</p><p><b>　　(3)時態(tài)法</b></p><p>　　根據(jù)時態(tài)法（temporal method）,外幣折算是一個計量轉(zhuǎn)換過程，或者說是對既定價值的重述。它并不改變被折算項目的計量屬性，而只是改變其計量單位。對外幣余額的折算只是對計量這些項目的貨幣名稱的

80、重述，而不是改變這些項目的實際價值。按照美國公認(rèn)會計原則，現(xiàn)金按照資產(chǎn)負(fù)債表日擁有的數(shù)額計價，應(yīng)收款和應(yīng)付款按照預(yù)計到期時將收回或償付的數(shù)額表述，其他資產(chǎn)和負(fù)債按照資產(chǎn)取得或負(fù)債發(fā)生時的貨幣價格（歷史成本）計價。但是，有些項目是按照財務(wù)報表日的價格(現(xiàn)行價格)計價的。例如，存貨按照成本與市價孰低原則計價。簡而言之，這些貨幣價值與時間因素有關(guān)。</p><p>　　在時態(tài)法下，現(xiàn)金、應(yīng)收款和應(yīng)付款等貨幣性項目采用現(xiàn)

81、行匯率折算，非貨幣性項目采用保持其原始計量基礎(chǔ)的匯率折算。尤其是外幣報表上用歷史成本計量的資產(chǎn)，要采用歷史匯率折算。為什么要這樣處理呢？這是因為對于以外幣表述的歷史成本，采用歷史匯率折算，才能產(chǎn)生以本國貨幣表述的歷史成本。同樣，以現(xiàn)行價值計價的非貨幣性項目采用現(xiàn)行匯率折算，因為對于以外幣表述的現(xiàn)行成本，采用現(xiàn)行匯率折算，才能產(chǎn)生以本國貨幣表述的現(xiàn)行價值。收入和費用項目采用交易發(fā)生時的匯率折算。在收入和費用發(fā)生數(shù)量多、交易頻繁的情況下，建

82、議采用平均匯率。</p><p>　　在國外的非貨幣性項目按歷史成本計價的情況下，采用時態(tài)法的折算程序與貨幣-非貨幣法的折算程序?qū)嶋H上是相同的。兩種折算方法的唯一不同之處在于，是否采用了其他的資產(chǎn)計價基礎(chǔ)，如重置成本、市價、折現(xiàn)現(xiàn)金流量等。</p><p>　　時態(tài)法與貨幣-非貨幣法非常相似，它具有后者的大部分優(yōu)缺點。在折算中有意忽略當(dāng)?shù)赝ㄘ浥蛎浀挠绊懀@是時態(tài)法與前面討論過的幾種方法的共

83、性（當(dāng)然，歷史成本會計也是有意忽略通貨膨脹的影響）。</p><p>　　所有上述四種方法在美國都曾被采用過，并且現(xiàn)在許多國家還在采用。一般來說，這些方法產(chǎn)生的外幣折算結(jié)果有很大差異。前三種方法（即現(xiàn)行匯率法、流動-非流動法和貨幣-非貨幣法）都是以確定哪些資產(chǎn)和負(fù)債屬于暴露在外匯風(fēng)險中的受險項目、哪些屬于非受險項目為基礎(chǔ)的。折算方法的具體應(yīng)用體現(xiàn)了這些差別?，F(xiàn)行匯率法假設(shè)全部國外業(yè)務(wù)經(jīng)營都暴露在外匯風(fēng)險中，因此所

84、有資產(chǎn)和負(fù)債都采用年末匯率折算。流動-非流動法假設(shè)只有流動資產(chǎn)和負(fù)債是受險項目，而貨幣-非貨幣法則假設(shè)貨幣性資產(chǎn)和負(fù)債才是受險項目。與此相反，時態(tài)法旨在保留被折算財務(wù)報表在編制時所采用的會計計量的理論基礎(chǔ)。</p><p><b>　　哪一種方法最好</b></p><p>　　傳統(tǒng)假設(shè)認(rèn)為，一種折算方法可以適合于所有的發(fā)生折算業(yè)務(wù)的環(huán)境和服務(wù)于所有的折算目的，我們對

85、此持反對態(tài)度。外幣折算所處的環(huán)境有很大差異。將幣值穩(wěn)定的貨幣折算成不穩(wěn)定貨幣的會計處理，不同于將幣值不穩(wěn)定的貨幣折算成穩(wěn)定貨幣的處理。同樣，涉及進(jìn)出口交易的折算，與在另一國家建立永久分支機(jī)構(gòu)或子公司，并利用對子公司的投資收益進(jìn)行再投資，且在可預(yù)計的時間內(nèi)不會將任何資金抽回母公司的情況下所進(jìn)行的折算，也會相差很大。</p><p>　　此外，進(jìn)行折算的目的也有所不同。為了與母公司的報表進(jìn)行合并而對國外子公司報表進(jìn)行

86、的折算，與為了滿足國外有利益關(guān)系的讀者的需要而對獨立經(jīng)營公司報表進(jìn)行的折算，兩者之間幾乎沒有共同之處。</p><p><b>　　我們提出三個問題：</b></p><p>　　采用多種折算方法比采用一種方法更合理嗎?</p><p>　　如果是的話，哪些折算方法是可以接受的？它們分別在什么情況下適用?</p><p>

87、;　　存在根本不應(yīng)該進(jìn)行折算的情況嗎?</p><p>　　關(guān)于第一個問題，很顯然，單一折算方法不能完全滿足不同情況和不同目的折算業(yè)務(wù)的需要，因此，需要采用多種折算方法。</p><p>　　關(guān)于第二個問題，我們認(rèn)為有三種不同的折算方法是可以接受的：（1）歷史匯率法；（2）現(xiàn)行匯率法；（3）根本不折算。國外主體的財務(wù)報表既可以根據(jù)母公司觀點進(jìn)行折算，也可以根據(jù)子公司的觀點進(jìn)行折算。按照母公

88、司觀點，國外經(jīng)營是母公司經(jīng)營的延伸，在很大程度上是國內(nèi)現(xiàn)金流量的來源。因此，折算的目標(biāo)是將國外子公司財務(wù)報表的計量單位轉(zhuǎn)換成為本國貨幣，并且使國外子公司的報表符合母公司所在國的公認(rèn)會計原則。我們認(rèn)為，采用歷史匯率的折算方法能夠最好地實現(xiàn)這些目標(biāo)。我們傾向于采用時態(tài)法，因為這種方法通常能夠把用外國貨幣單位表述的資產(chǎn)和負(fù)債所采用的會計原則保留下來。因為按照母公司觀點，首先（在折算之前）要調(diào)整外幣財務(wù)報表，使其符合母公司的會計原則，所有采用時

89、態(tài)法是比較恰當(dāng)?shù)?，因為這種方法僅僅是將外幣計量改為用本國貨幣進(jìn)行計量，并未改變計量基礎(chǔ)。時態(tài)折算法可以很容易地與折算中進(jìn)行的會計調(diào)整過程相適應(yīng)。因此，除了折算貨幣金額以外，還可以對兩套甚至更多的會計概念和實務(wù)之間的差異進(jìn)行調(diào)整。例如，存貨或某些負(fù)債可以用于原先不同的會計處理重述。時態(tài)法可以適用于歷史成本計價、現(xiàn)行重置成本計價和實現(xiàn)凈值計價中的任何一種資產(chǎn)計價</p><p>　　現(xiàn)行匯率法是將一種貨幣語言（cur

90、rency language）直接折算（重述）為另一種貨幣語言的折算方法。在折算中，報表的性質(zhì)沒有發(fā)生變化，變化的僅僅是表述報表的特定形式。如果國外子公司已折算的報表以當(dāng)?shù)刎泿抛鳛橛嬃繂挝?，也就是說，如果以國外公司的觀點（與母公司觀點相對）來看待國外主體，那么，采用現(xiàn)行匯率法比較適合。采用現(xiàn)行匯率折算，是將所有的賬戶余額都簡單地乘以一個常數(shù)，所以不會改變外幣報表中任何原來的比率關(guān)系（如財務(wù)比率）。如果為了方便國外股東和其他外部使用者集團(tuán)

91、而對獨立公司的報表進(jìn)行折算，這種折算方法也是有用的。</p><p>　　適用現(xiàn)行匯率法的第二種情況是，將進(jìn)行了物價水平調(diào)整的財務(wù)報表折算成用另一種貨幣表示的報表。如果在給定的外幣報表中已經(jīng)進(jìn)行了可靠的物價水平調(diào)整，而且該種外幣的匯率變動與本國物價水平的變動緊密相關(guān)，那么，對進(jìn)行了物價水平調(diào)整的報表適宜采用現(xiàn)行匯率法進(jìn)行折算，其結(jié)果與采用歷史匯率折算歷史成本報表的結(jié)果相類似。</p><p&g

92、t;　　存在根本不應(yīng)該進(jìn)行折算的情況嗎? 我們認(rèn)為是這樣的。在高度穩(wěn)定和高度不穩(wěn)定的貨幣之間，沒有任何一種折算方法是恰當(dāng)?shù)摹o論采用什么折算方法將一種貨幣折算成為另外一種貨幣，都不會產(chǎn)生有意義的信息。沒有折算也就意味著財務(wù)報表不能合并。我們認(rèn)為這是有道理的。如果一種貨幣非常不穩(wěn)定，以至于不可能進(jìn)行報表折算，那么也就不可能進(jìn)行財務(wù)報表合并。如果一個獨立公司純粹出于向其他國家居民提供信息的目的而發(fā)布報表，而且這些國家的經(jīng)濟(jì)發(fā)展與公司所在國處

93、于類似的階段，其貨幣的穩(wěn)定情況也是類似的，在這種情況下，就沒有必要進(jìn)行報表折算。最后，某些特殊的管理層報告也不應(yīng)當(dāng)進(jìn)行折算。有效的國際管理人員應(yīng)該具備采用一種以上的貨幣單位對情況進(jìn)行評價并做出決策的能力。一些公司的內(nèi)部報告可以設(shè)置幾個不同的貨幣金額欄，每一欄用不同貨幣單位折算的金額表示。某些其他報告（如關(guān)于可能發(fā)生的國際并購）也不可能進(jìn)行折算，這是因為無法獲得歷史的外幣匯率信息。還有一些其他類型的報告，可以只折算流動項目或者貨幣性項目，

94、而對其他項目不進(jìn)行折算。</p><p><b>　　當(dāng)前的趨勢</b></p><p>　　外幣折算仍然是一個令人困擾而有爭議的技術(shù)問題。國際上的進(jìn)展如何？我們能夠達(dá)成共識嗎？我們認(rèn)為，答案取決于國際會計準(zhǔn)則理事會如何開展協(xié)調(diào)活動。越來越多的跨國上市公司遵循國際會計準(zhǔn)則（現(xiàn)在被稱為國際財務(wù)報告準(zhǔn)則），而且世界上的股票交易所也面臨著日益增加的壓力，促使其允許國外上市公

95、司采用國際財務(wù)報告準(zhǔn)則取代本國準(zhǔn)則（許多股票交易所已經(jīng)這么做了）。在美國，國外公司被允許遵循國際準(zhǔn)則（《國際會計準(zhǔn)則第21號》），而不是美國的準(zhǔn)則（《財務(wù)會計準(zhǔn)則公告第52號》）進(jìn)行外幣折算。在未來的一段時期內(nèi)，財務(wù)會計準(zhǔn)則委員會可能會支持國際準(zhǔn)則，并解決《財務(wù)會計準(zhǔn)則公告第52號》與《國際會計準(zhǔn)則第21號》之間的差異。我們認(rèn)為，這將激勵其他國家的準(zhǔn)則制定機(jī)構(gòu)采取類似的行動來縮小其與《國際會計準(zhǔn)則第21號》之間的差異。</p>