مقاله ترجمه شده ابزار مالي براي تثبيت جريانهاي نقدي آتي
| دسته بندي |
حسابداري |
| فرمت فايل |
doc |
| حجم فايل |
7 كيلو بايت |
| تعداد صفحات |
7 |
عنوان انگليسي مقاله: Financial instruments to fix future cash flows
عنوان فارسي مقاله : ابزار مالي براي تثبيت جريانهاي نقدي آتي
فرمت فايل ترجمه شده: فايل Word ورد (Doc) قابل ويرايش
تعداد صفحات فايل ترجمه شده: 3 صفحهمتن انگليسي به همراه 4 صفحه ترجمه فارسي
تعداد كلمات انگليسي 996 كلمه
تعداد كلمات ترجمه شده به فارسي 908 كلمه
جمع كل كلمات 1904 كلمه مي باشد
اين مقاله مناسب دانشجويان رشته حسابداري مي باشد
چند سطر از متن مقاله انگليسي :
Financial instruments to fix future cash flows
By the way even when liabilities financing the business investments are subject to a floating rather than a fixed interest rate a similar accounting issue may eventually emerge if the floating rate is converted to a fixed rate by means of an interest rate swap or other similar contracts. Swap contracts to pay fixed interest in exchange for receiving floating interest are sometimes called “cash flow hedges” since they hedge the risk of fluctuation of the interest payment against expected future operating revenue. Unlike hedges against changes in the market value there are many complicated problems about the income recognition of changes in the market price 13).
This kind of hedging transaction increases the risk of changes in the market value of the position while averting fluctuations in cash flows. In this respect the same transaction can be regarded either as hedging or as speculation. However hedging is by nature a transaction intended to avert the risk of fluctuation in the return on investments. Thus the pattern of hedging depends on whether the relevant return is measured by changes in market value or by cash flows. In this case since gain or loss to be hedged is the cash flows of interest payments performance of the interest rate swap contracts can be measured by the swap differentials for each year instead of measuring changes in the market value.
A floating rate debt combined with an interest rate swap contract is in effect exactly the same as a fixed rate debt. Therefore in cases where the gain or loss on a fixed rate debt is recognized on the basis of cash flows instead of changes in market value income on the interest rate swaps to avert fluctuation in interest payments would be recognized on the cash flow basis in line with realization of the swap differentials. Changes in the market value in anticipation of the future cash flows have nothing to do with the performance as a hedging transaction although it would be regarded as performance if the position is considered to be speculation
چند سطر از ترجمه مقاله:
ابزار مالي براي تثبيت جريانهاي نقدي آتي
حتي زماني كه بدهيهاي تامين كننده سرمايه گذاريهاي تجاري مشروط به يك نرخ بهره شناور باشد ،نه به يك نرخ ثابت ، در صورتي كه نرخ شناور به وسيله يك معامله پاياپاي بهره يا قراردادي مشابه به نرخ ثابت تبديل شود ، يك مشكل حسابداري بروز مي كند.قراردادهاي معاوضه كه بهره ثابت را به ازاي دريافت سود شناور پرداخت مي كنند ،گاهي اوقات "مصونيت جريان نقد" مي نامند. چون از خطر نوسانات بهره در قبال درامد عملياتي مورد انتظار در آينده ، محافظت ميكند.بر خلاف سپرهايي كه در مقابل تغييرات در ارزش بازار وجود دارد ،مشكلات بسيار پيچيده ايي در رابطه با تخصيص سود با توجه به تغييرات قيمت بازار موجود است.اين نوع معامله حفاظتي ،ريسك تغييرات را در ارزش بازاري موقعيت افزايش مي دهد ، در حالي كه نوسانات جريانهاي نقدي را حذف ميكند.
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