外币折算会计简史外文翻译(编辑修改稿)

外币折算会计简史外文翻译(编辑修改稿)内容摘要：

yments deficit which would lead to an outflow of gold and consequent contractionary effects” (McConnell, 1981, p. 855). In an attempt to bolster exports and reduce imports, several nations began to devalue their currencies in terms 5 of gold (McConnell, 1981, p. 855). The result of these devaluations was a breakdown of the gold standard system. During this time, the number of writings on foreign currency accounting increased. An early article by Cecil S. Ashdown described the currentnoncurrent method (Ashdown, 1922, p. 262). The most notable publication was a remendation made in 1931 by a special mittee on accounting procedure of the American Institute of Accountants (now AICPA) that the currentnoncurrent method be used (AIA, 1931). This was the first official pronouncement on the subject in the USA. This method essentially involves:  the translation of current assets and current liabilities at end of year exchange rates。 and  noncurrent assets and noncurrent liabilities at historical exchange rates. The nominal accounts were to be translated at average exchange rates (the same as moarynonmoary method). The mittee reiterated their position in another bulletin in 1934 (AIA, 1934). Foreign currency provisions of ARB 4 The special mittee was disbanded in 1938 and the new Committee on Accounting Procedures (CAP) took over. In December 1939, the CAP issued Accounting Research Bulletin No. 4 (ARB 4) entitled “Foreign operations and foreign exchange”. In 1953, ARB 4 was incorporated into ARB 43 as chapter 12 (AICPA, 1953). This bulletin essentially repeated the special mittee’s endorsement of the currentnoncurrent method but also stressed the desirability of conservatism when reporting foreign earnings and consolidating foreign subsidiaries. ARB 4 also required that both realized and unrealized losses in foreign exchange be charged against operations and that realized gains be credited to operations (AICPA, 1953). The bulletin stated that unrealized gains should only be recognized to the extent of unrealized losses charged to ine in prior periods (AICPA, 1953). 6 Impact of the Second World War With the stimulus of additional economic turmoil created by the Second World War, leaders of the major industrial nations set out to create an economic system that would not be susceptible to the risk of another depression. One significant result of their efforts was a fixed exchange rate system established in a conference at Bretton Woods, New Hampshire, in 1944 (Gordon, 1987, p. 544). For some years, the Bretton Woods system worked well. But, economic pressures soon came to bear again and nations began to depart from the agreement by devaluing their currencies in relation to the US dollar. The resulting instability created new interest in foreign currency accounting. In 1948, . Hecker, an English chartered accountant, described the reporting situation of the time as follows: “Increasing chaos in foreign currency rates makes impossible general rules for handling statements of foreign subsidiaries” (Hecker, 1948). The economic situation raised many questions about the appropriateness of the currentnoncurrent method. One of the critics was Samuel R. Hepworth who is usually given primary credit for developing the moarynonmoary method of translation (Hepworth, 1956, p. 8). Moary assets and liabilities are those which are fixed in terms of a number of units of a foreign currency. Nonmoary assets and liabilities are not so fixed. The currentnoncurrent method, however, prevailed as the only acceptable method until October 1965 when the。