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英语翻译
In order to conclude that a network capacity swap transaction should appropriately be accounted for as revenue and a capital expenditure at fair value,a company entering into such a transaction would have to reach the conclusion that:1) the network capacity received in the exchange will not be sold in the same line of business as the network capacity given up in the exchange,2) the network capacity received in the exchange is a productive asset that is dissimilar to the network capacity given up,and 3) the fair values of the assets exchanged are determinable within reasonable limits.Capacity swap transactions likely include complex terms that would require a diligent analysis and professional judgment to determine the proper accounting treatment.
Companies that engage in material nonmonetary transactions during a reporting period are required,under GAAP,to disclose,in the footnotes to the financial statements,the nature of the transactions,the basis of accounting for the assets transferred (that is,fair value or book value),and gains or losses recognized.GAAP also requires that information about all investing and financing activities of an enterprise that affect recognized assets or liabilities but that do not result in cash receipts or payments,such as nonmonetary asset exchanges,be disclosed in the footnotes to the financial statements.
Furthermore,the Commission's rules require registrants to include in their public filings a section entitled Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A").12 In MD&A,registrants are required to discuss the known trends,demands,events,commitments and uncertainties that are reasonably likely to materially affect a registrant's liquidity,capital resources,and results of operations.To the extent that nonmonetary exchange transactions have a significant impact on a registrant's liquidity,capital resources,or results of operations,disclosure of these transactions in MD&A would be required.
In order to conclude that a network capacity swap transaction should appropriately be accounted for as revenue and a capital expenditure at fair value,a company entering into such a transaction would have to reach the conclusion that:1) the network capacity received in the exchange will not be sold in the same line of business as the network capacity given up in the exchange,2) the network capacity received in the exchange is a productive asset that is dissimilar to the network capacity given up,and 3) the fair values of the assets exchanged are determinable within reasonable limits.Capacity swap transactions likely include complex terms that would require a diligent analysis and professional judgment to determine the proper accounting treatment.
Companies that engage in material nonmonetary transactions during a reporting period are required,under GAAP,to disclose,in the footnotes to the financial statements,the nature of the transactions,the basis of accounting for the assets transferred (that is,fair value or book value),and gains or losses recognized.GAAP also requires that information about all investing and financing activities of an enterprise that affect recognized assets or liabilities but that do not result in cash receipts or payments,such as nonmonetary asset exchanges,be disclosed in the footnotes to the financial statements.
Furthermore,the Commission's rules require registrants to include in their public filings a section entitled Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A").12 In MD&A,registrants are required to discuss the known trends,demands,events,commitments and uncertainties that are reasonably likely to materially affect a registrant's liquidity,capital resources,and results of operations.To the extent that nonmonetary exchange transactions have a significant impact on a registrant's liquidity,capital resources,or results of operations,disclosure of these transactions in MD&A would be required.
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