natgillin/translations-raw huggingface dataset:
Underlying the definition of fair value is a presumption that an entity is a going concern without any intention or need to liquidate, to curtail materially the scale of its operations or to undertake a transaction on adverse terms.
Podlaga za opredelitev poštene vrednosti je predpostavka, da je podjetje delujoče podjetje, ki nima niti namena niti potrebe, da bi povsem ustavilo ali bistveno skrčilo svoje delovanje ali se lotilo posameznega posla s takimi nameni.
Fair value is not, therefore, the amount that an entity would receive or pay in a forced transaction, involuntary liquidation or distress sale.
Poštena vrednost torej ni znesek, ki bi ga podjetje prejelo ali plačalo v prisiljenem poslu, pri neprostovoljnem prenehanju obstoja in prisilni prodaji.
However, fair value reflects the credit quality of the instrument.
Vendar pa poštena vrednost odraža zaupanjsko ustreznost inštrumenta.
This Standard uses the terms ‘bid price’ and ‘asking price’ (sometimes referred to as ‘current offer price’) in the context of quoted market prices, and the term ‘the bid-ask spread’ to include only transaction costs.
V tem standardu so uporabljeni izrazi ponudena nakupna cena in „ponudbena cena“ (včasih označena kot „sprotna cena ponudbe“) v kontekstu kotiranih tržnih cen, in izraz ponudbeno-zahtevalni cenovni razpon, ki vključuje samo stroške posla.
Other adjustments to arrive at fair value (eg for counterparty credit risk) are not included in the term ‘bid-ask spread’.
Drugi popravki za doseganje poštene vrednosti (npr. za zaupanjsko tveganje nasprotne stranke) niso vključene v cenovni razpon med povpraševanjem in ponudbo.
Active Market: Quoted Price
Delujoči trg: Kotirana cena
A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis.
Finančni inštrument se obravnava kot kotiran na delujočem trgu, če so kotirane cene takoj in redno na voljo na borzi, pri trgovcu, borznem posredniku, gospodarski panogi, službi za cene ali državni agenciji in te cene predstavljajo dejanske posle, ki se redno pojavljajo na trgu na čisto poslovni podlagi.
Fair value is defined in terms of a price agreed by a willing buyer and a willing seller in an arm’s length transaction.
Poštena vrednost je opredeljena kot cena, dogovorjena med voljnim kupcem in voljnim prodajalcem v premišljenem poslu.
The objective of determining fair value for a financial instrument that is traded in an active market is to arrive at the price at which a transaction would occur at the balance sheet date in that instrument (ie without modifying or repackaging the instrument) in the most advantageous active market to which the entity has immediate access.
Namen opredelitve poštene vrednosti za finančni inštrument, s katerim se trguje na delujočem trgu, je dobiti ceno, po kateri bi se posel opravil na dan bilance stanja s tem inštrumentom (to je, ne da bi spreminjali ali ponovno opredeljevali inštrument) na najugodnejšem delujočem trgu, do katerega ima podjetje neposreden dostop.
However, the entity adjusts the price in the more advantageous market to reflect any differences in counterparty credit risk between instruments traded in that market and the one being valued.
Vendar pa podjetje usklajuje ceno na bolj ugodnem trgu, da ugotovi morebitne razlike v zaupanjskem tveganju nasprotne stranke med inštrumenti, s katerimi se trguje na tem trgu, in s tistim, ki ga vrednoti.
The existence of published price quotations in an active market is the best evidence of fair value and when they exist they are used to measure the financial asset or financial liability.
Objavljene cene na delujočem trgu najbolje pričajo o sprotni pošteni vrednosti, in kadar obstajajo, se uporabijo za izmero finančnega sredstva ali finančne obveznosti.
The appropriate quoted market price for an asset held or liability to be issued is usually the current bid price and, for an asset to be acquired or liability held, the asking price.
Ustrezna objavljena tržna cena sredstva, ki je v posesti, ali obveznosti, ki bo nastala, je navadno ponudena nakupna cena, za sredstvo, ki naj bi se pridobilo, ali obveznost v posesti pa ponudbena cena.
When an entity has assets and liabilities with offsetting market risks, it may use mid-market prices as a basis for establishing fair values for the offsetting risk positions and apply the bid or asking price to the net open position as appropriate.
Če ima podjetje sredstva in obveznosti, kjer se tržna tveganja pobotajo, lahko uporabi srednje tržne cene za določitev poštenih vrednosti za pobotanje stanj tveganja in uporabi ponudbeno nakupno ceno ali ponudbeno ceno za čisto odprto stanje.
When current bid and asking prices are unavailable, the price of the most recent transaction provides evidence of the current fair value as long as there has not been a significant change in economic circumstances since the time of the transaction.
Če nista na razpolago sprotni ponudbeni in ponujeni ceni, dokazuje zadnji posel sprotno pošteno vrednost, kolikor se gospodarske okoliščine niso pomembno spremenile od datuma posla.
If conditions have changed since the time of the transaction (eg a change in the risk-free interest rate following the most recent price quote for a corporate bond), the fair value reflects the change in conditions by reference to current prices or rates for similar financial instruments, as appropriate.
Če so se okoliščine spremenile od časa posla (na primer sprememba obrestne mere brez tveganja po zadnji ceni posla z obveznicami delniških družb), odraža poštena vrednost spremembo v okoliščinah glede na sprotno ceno ali obrestno mero za podobne finančne inštrumente kot približno.
Similarly, if the entity can demonstrate that the last transaction price is not fair value (eg because it reflected the amount that an entity would receive or pay in a forced transaction, involuntary liquidation or distress sale), that price is adjusted.
Podobno je, če podjetje lahko dokaže, da zadnja cena posla ni poštena vrednost (npr. ker odraža znesek, ki bi ga podjetje prejelo ali plačalo v prisiljenem poslu, pri neprostovoljnem prenehanju obstoja ali prisilni prodaji), in se ta cena popravi.
The fair value of a portfolio of financial instruments is the product of the number of units of the instrument and its quoted market price.
Poštena vrednost portfelja finančnih inštrumentov je zmnožek števila enot inštrumenta in njegove kotirane tržne cene.
If a published price quotation in an active market does not exist for a financial instrument in its entirety, but active markets exist for its component parts, fair value is determined on the basis of the relevant market prices for the component parts.
Če objavljena kotacija tržne cene na delujočem trgu ne obstaja za celotni finančni inštrument, vendar obstajajo trgi za njegove sestavine, se poštena vrednost ugotovi na podlagi ustreznih tržnih cen teh sestavin.
If a rate (rather than a price) is quoted in an active market, the entity uses that market-quoted rate as an input into a valuation technique to determine fair value.
Če kotira obrestna mera (in ne cena) na delujočem trgu, uporabi podjetje to tržno mero kot vhodni podatek v metodo vrednotenja za ugotovitev poštene vrednosti.
If the market-quoted rate does not include credit risk or other factors that market participants would include in valuing the instrument, the entity adjusts for those factors.
Če ta kotirana tržna mera ne vsebuje zaupanjskega tveganja ali drugih dejavnikov, ki bi jih udeleženci na trgu vključili v vrednotenje inštrumenta, opravi podjetje popravke za te dejavnike.
No Active Market: Valuation Technique
Ni delujočega trga: Metoda vrednotenja
If the market for a financial instrument is not active, an entity establishes fair value by using a valuation technique.
Če trg za nek finančni inštrument ni dejaven, ugotovi podjetje pošteno vrednost z uporabo metode vrednotenja.
Valuation techniques include using recent arm’s length market transactions between knowledgeable, willing parties, if available, reference to the current fair value of another instrument that is substantially the same, discounted cash flow analysis and option pricing models.
Metode vrednotenja obsegajo uporabo zadnjega posla med obveščenima in voljnima strankama, če so navoljo; primerjavo s trenutno pošteno vrednostjo drugega inštrumenta, ki ima podobne bistvene značilnosti, proučitev diskontiranih denarnih tokov in modele za določanje cen opcij.
If there is a valuation technique commonly used by market participants to price the instrument and that technique has been demonstrated to provide reliable estimates of prices obtained in actual market transactions, the entity uses that technique.
Če obstaja metoda vrednotenja, ki jo udeleženci na trgu običajno uporabljajo za določanje cene inštrumenta, in je ta metoda dokazala zanesljivost pri oceni cen, dobljenih pri dejanskem tržnih poslih, uporabi podjetje to metodo.
The objective of using a valuation technique is to establish what the transaction price would have been on the measurement date in an arm’s length exchange motivated by normal business considerations.
Cilj uporabe metode vrednotenja je ugotoviti, kakšna bi bila tržna cena na dan merjenja v premišljenem poslu menjave v normalnih poslovnih okoliščinah.
Fair value is estimated on the basis of the results of a valuation technique that makes maximum use of market inputs, and relies as little as possible on entity-specific inputs.
Poštena vrednost je ocenjena na podlagi rezultatov metode vrednotenja, ki v največji možni meri uporablja tržne vhodne podatke in se kar najmanj naslanja na možne vhodne podatke, ki so specifični za dano podjetje.
A valuation technique would be expected to arrive at a realistic estimate of the fair value if (a) it reasonably reflects how the market could be expected to price the instrument and (b) the inputs to the valuation technique reasonably represent market expectations and measures of the risk-return factors inherent in the financial instrument.
Pričakuje se, da bo metoda vrednotenja dala realno oceno poštene vrednosti, če (a) zanesljivo pokaže, kakšna bi bila tržna cena za inštrument, in (b) vhodni podatki za metodo vrednotenja predstavljajo pričakovanja trga in merijo dejavnike tveganja, ki so povezani s tem finančnim inštrumentom.
Therefore, a valuation technique (a) incorporates all factors that market participants would consider in setting a price and (b) is consistent with accepted economic methodologies for pricing financial instruments.
Zato metoda vrednotenja (a) vključuje vse dejavnike, ki bi jih upoštevali udeleženci na trgu pri oblikovanju cene, in (b) je skladna s splošno sprejetimi metodikami vrednotenja cen finančnih inštrumentov.
Periodically, an entity calibrates the valuation technique and tests it for validity using prices from any observable current market transactions in the same instrument (ie without modification or repackaging) or based on any available observable market data.
Občasno podjetje preverja metodo vrednotenja in preizkuša njeno veljavnost na cenah katerega koli pomembnega trenutnega tržnega posla z istim inštrumentom (to je, brez spreminjanja ali ponovnega opredeljevanja inštrumenta) ali na podlagi drugih pomembnih tržnih podatkov.
An entity obtains market data consistently in the same market where the instrument was originated or purchased.
Podjetje dobiva podatke o trgu dosledno na istem trgu, kjer je bil inštrument izdan ali kupljen.
The best evidence of the fair value of a financial instrument at initial recognition is the transaction price (ie the fair value of the consideration given or received) unless the fair value of that instrument is evidenced by comparison with other observable current market transactions in the same instrument (ie without modification or repackaging) or based on a valuation technique whose variables include only data from observable markets.
Najboljši dokaz poštene vrednosti finančnega inštrumenta pri začetnem pripoznanju je cena posla (to je poštena vrednost danega ali prejetega nadomestila), razen če pošteno vrednost tega inštrumenta dokazuje primerjava z drugimi pomembnimi tržnimi posli z istim inštrumentom (brez njegovega spreminjanja ali ponovnega opredeljevanja) ali temelji na metodi vrednotenja, pri kateri spremenljivke vključujejo le podatke s pomembnih trgov.
The initial acquisition or origination of a financial asset or incurrence of a financial liability is a market transaction that provides a foundation for estimating the fair value of the financial instrument.
Začetna pridobitev ali izdaja finančnega sredstva ali nastanek finančne obveznosti, je posel na trgu, ki predstavlja podlago za oceno poštene vrednosti finančnega inštrumenta.
In particular, if the financial instrument is a debt instrument (such as a loan), its fair value can be determined by reference to the market conditions that existed at its acquisition or origination date and current market conditions or interest rates currently charged by the entity or by others for similar debt instruments (ie similar remaining maturity, cash flow pattern, currency, credit risk, collateral and interest basis).
Zlasti če je finančni inštrument dolgovni inštrument (npr. posojilo), lahko njegovo pošteno vrednost ugotovimo s sklicevanjem na tržne okoliščine, ki so obstajali na dan njegove pridobitve ali nastanka, in sedanjimi tržnimi okoliščinami ali obrestnimi merami, ki jih podjetje ali drugi trenutno zaračunavajo za podobne dolgovne inštrumente (to je podobna preostala doba zapadlosti, vzorec denarnih tokov, valuta, zaupanjsko tveganje, varščina in obrestna podlaga).
Alternatively, provided there is no change in the credit risk of the debtor and applicable credit spreads after the origination of the debt instrument, an estimate of the current market interest rate may be derived by using a benchmark interest rate reflecting a better credit quality than the underlying debt instrument, holding the credit spread constant, and adjusting for the change in the benchmark interest rate from the origination date.
Če pa ni nobenih sprememb v zaupanjskem tveganju dolžnika in ustreznih razponih zaupanja po nastanku dolgovnega inštrumenta, je možno izpeljati oceno trenutne tržne obrestne mere z uporabo primerjalne obrestne mere, ki odraža boljšo zaupanjsko ustreznost kot pa temeljni dolgovni inštrument, ohranjanjem nesprejemljivega razpona zaupanja in prilagajanjem spremembam primerjalne obrestne mere od datuma nastanka.
If conditions have changed since the most recent market transaction, the corresponding change in the fair value of the financial instrument being valued is determined by reference to current prices or rates for similar financial instruments, adjusted as appropriate, for any differences from the instrument being valued.
Če so se okoliščine spremenile od časa zadnjega posla na trgu, se ustrezna sprememba poštene vrednosti finančnega inštrumenta, ki ga vrednotimo, določi s sklicevanjem na trenutno veljavne cene ali obrestne mere za podobne finančne inštrumente, ustrezno popravljene oz. usklajene za morebitne razlike od inštrumenta, ki ga vrednotimo.
The same information may not be available at each measurement date.
Za vsak datum merjenja pa morda niso na voljo iste vrste informacij.
For example, at the date that an entity makes a loan or acquires a debt instrument that is not actively traded, the entity has a transaction price that is also a market price.
Na primer, na dan ko podjetje da posojilo ali pridobi dolgovni inštrument, s katerim se ne trguje dejavno, ima ceno posla, ki je tudi tržna cena.
However, no new transaction information may be available at the next measurement date and, although the entity can determine the general level of market interest rates, it may not know what level of credit or other risk market participants would consider in pricing the instrument on that date.
Ob naslednjem dnevu merjenja pa morda ni na voljo nobenih novih informacij o poslu, čeprav podjetje lahko določi splošno raven tržnih obrestnih mer, ne pozna pa ravni zaupanjskega ali drugih tveganj, ki bi jih udeleženci na trgu upoštevali pri določanju cene tega inštrumenta na ta dan.
An entity may not have information from recent transactions to determine the appropriate credit spread over the basic interest rate to use in determining a discount rate for a present value computation.
Podjetje morda nima informacij o zadnjih poslih, da bi opredelilo ustrezni razpon zaupanja nad osnovno obrestno mero, da bi ugotovilo diskontno mero za izračun sedanje vrednosti.
It would be reasonable to assume, in the absence of evidence to the contrary, that no changes have taken place in the spread that existed at the date the loan was made.
Razumno bi bilo predpostavljati, če ni dokazov o nasprotnem, da ni bilo nobenih sprememb v razponu, ki je obstajal na dan, ko je bilo posojilo dano.
However, the entity would be expected to make reasonable efforts to determine whether there is evidence that there has been a change in such factors.
Vendar pa se pričakuje, da se bo podjetje potrudilo ugotoviti, ali obstajajo dokazi o morebitnih spremembah teh dejavnikov.
When evidence of a change exists, the entity would consider the effects of the change in determining the fair value of the financial instrument.
Če obstajajo dokazi o spremembi, bi podjetje upoštevalo učinke spremembe pri določanju poštene vrednosti finančnega inštrumenta.
In applying discounted cash flow analysis, an entity uses one or more discount rates equal to the prevailing rates of return for financial instruments having substantially the same terms and characteristics, including the credit quality of the instrument, the remaining term over which the contractual interest rate is fixed, the remaining term to repayment of the principal and the currency in which payments are to be made.
Pri proučevanju razobrestenega (diskontiranega) denarnega toka podjetje uporablja eno ali več razobrestovalnih (diskontnih) mer, ki so enake prevladujoči(m) donosnosti(m) finančnih inštrumentov s skoraj enakimi roki in drugimi značilnostmi, tudi dolžnikovo zaupanjsko (kreditno) ustreznost, določeno preostalo dobo pogodbene obrestne mere, preostalo dobo vračila glavnice in valuto, v kateri je treba plačati.
Short-term receivables and payables with no stated interest rate may be measured at the original invoice amount if the effect of discounting is immaterial.
Kratkoročne terjatve in plačila brez postavljene obrestne mere se lahko izmerijo po znesku v izvirnem računu, če vpliv razobrestenja (diskontiranja) ni pomemben.
No Active Market: Equity Instruments
Ni delujočega trga: Kapitalski inštrumenti
The fair value of investments in equity instruments that do not have a quoted market price in an active market and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is reliably measurable if (a) the variability in the range of reasonable fair value estimates is not significant for that instrument or (b) the probabilities of the various estimates within the range can be reasonably assessed and used in estimating fair value.
Pošteno vrednost naložb v kapitalske inštrumente, za katere ni kotirane tržne cene na delujočem trgu, in izpeljanih finančnih inštrumentov, ki so povezani s takšnim nekotiranim kapitalskim inštrumentom in se morajo poravnati z izročitvijo le-tega (glejte člene 46(c) in 47), je mogoče zanesljivo izmeriti, če (a) spremenljivost razpona ocen utemeljene poštene vrednosti ni pomembna za takšen inštrument ali (b) če je verjetnosti različnih ocen znotraj razpona mogoče utemeljeno oceniti in uporabiti pri ocenjevanju poštene vrednosti.
There are many situations in which the variability in the range of reasonable fair value estimates of investments in equity instruments that do not have a quoted market price and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is likely not to be significant.
Veliko je takšnih situacij, v katerih spremenljivost v razponu ocen sprejemljive poštene vrednosti finančnih naložb v kapitalske inštrumente, ki nimajo kotizirane tržne cene, ter izpeljanih finančnih inštrumentov, povezanih z dostavo takšnih nekotiziranih kapitalskih inštrumentov, ki jih je treba poravnati z njo (glejte člene 46(c)in 47), verjetno ni pomembna.
Normally it is possible to estimate the fair value of a financial asset that an entity has acquired from an outside party.
Praviloma je mogoče oceniti pošteno vrednost finančnega sredstva, ki ga je podjetje pridobilo od zunanje stranke.
However, if the range of reasonable fair value estimates is significant and the probabilities of the various estimates cannot be reasonably assessed, an entity is precluded from measuring the instrument at fair value.
Če pa je razpon ocen utemeljene poštene vrednosti pomemben in je verjetnost različnih ocen težko presoditi, podjetju ni treba meriti inštrumenta po pošteni vrednosti.
Inputs to Valuation Techniques
Vhodni podatki za metode vrednotenja
An appropriate technique for estimating the fair value of a particular financial instrument would incorporate observable market data about the market conditions and other factors that are likely to affect the instrument’s fair value.
Ustrezna metoda za ocenjevanje poštene vrednosti posameznega finančnega inštrumenta bi vključevala pomembne tržne podatke o tržnih okoliščinah in drugih dejavnikih, ki verjetno vplivajo na pošteno vrednost tega inštrumenta.
The fair value of a financial instrument will be based on one or more of the following factors (and perhaps others).
Poštena vrednost finančnega inštrumenta mora temeljiti na enem ali več spodaj naštetih dejavnikov (in morda še drugih). (a)
The time value of money (ie interest at the basic or risk-free rate).
Časovna vrednost denarja (to je, obresti po osnovni tržni obrestni meri brez tveganja).
Basic interest rates can usually be derived from observable government bond prices and are often quoted in financial publications.
Osnovne obrestne mere se običajno izpeljejo iz cen pomembnih državnih obveznic in so pogosto objavljene v finančnih publikacijah.
These rates typically vary with the expected dates of the projected cash flows along a yield curve of interest rates for different time horizons.
Te mere se značilno spreminjajo s pričakovanimi datumi projiciranih denarnih tokov vzdolž krivulje donosa obrestnih mer za različne čase ocenjevanja.
For practical reasons, an entity may use a well-accepted and readily observable general rate, such as LIBOR or a swap rate, as the benchmark rate.
Iz praktičnih razlogov lahko podjetje uporabi dobro sprejeto in takoj dostopno splošno mero, kot je LIBOR ali obrestno mero zamenjavo kot primerjalno mero.
(Because a rate such as LIBOR is not the risk-free interest rate, the credit risk adjustment appropriate to the particular financial instrument is determined on the basis of its credit risk in relation to the credit risk in this benchmark rate.) In some countries, the central government’s bonds may carry a significant credit risk and may not provide a stable benchmark basic interest rate for instruments denominated in that currency.
(Ker takšna mera kot LIBOR ni obrestna mera brez tveganja, se določi prilagoditev zaupanjskega tveganja, ustreznega za ta konkreten finančni inštrument, na podlagi njegovega zaupanjskega tveganja v primerjavi z zaupanjskim tveganjem te primerjalne obrestne mere). V nekaterih državah pa utegnejo imeti državne obveznice pomembno zaupanjsko tveganje in ne dajejo primerjalne normne mere za inštrumente v tej valuti.
Some entities in these countries may have a better credit standing and a lower borrowing rate than the central government.
Nekatera podjetja v teh državah imajo morda boljšo zaupanjsko izhodišče in nižjo obrestno mero za sposojanje kot državna vlada.