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首页> 外文期刊>Accounting Review >Does Fair Value Accounting Provide More Useful Financial Statements than Current GAAP for Banks?
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Does Fair Value Accounting Provide More Useful Financial Statements than Current GAAP for Banks?

机译：公允价值会计是否比现行的GAAP为银行提供了更多有用的财务报表？

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Standard setters contend that fair value accounting yields the most relevant measurement for financial instruments. We examine this claim by comparing the value relevance of banks' financial statements under fair value accounting with that under current GAAP, which is largely based on historical costs. We find that the combined value relevance of book value of equity and income under fair value is less than that under GAAP. We also find that fair value income is less value-relevant than GAAP income because of the inclusion of transitory unrealized gains and losses in fair value income. More surprisingly, we find that book value of equity under fair value is not more value-relevant than under GAAP, due both to divergence between exit value and value-in-use and to measurement error in fair value estimates. Overall, our results suggest that financial statements under fair value accounting provide less relevant information for bank valuation than financial statements under current GAAP.
机译：标准制定者认为，公允价值会计产生了与金融工具最相关的度量。我们通过比较公允价值会计下与当前公认会计原则下的银行财务报表的价值相关性（主要基于历史成本）来检查此索赔。我们发现，公允价值下权益和账面价值的账面价值的合并价值相关性低于公认会计原则下的值。我们还发现，由于在公允价值收益中包含了暂时性未实现的损益，因此，公允价值收益与GAAP收益的价值相关性较低。更令人惊讶的是，由于退出价值与使用价值之间的差异以及公允价值估计中的计量误差，我们发现公允价值下权益的账面价值与GAAP相比没有更大的价值相关性。总体而言，我们的结果表明，与现行GAAP下的财务报表相比，公允价值会计下的财务报表提供的银行估值相关信息较少。

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