‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﺍﻟﺩﻜﺘﻭﺭ ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬

‫ﻗﺴﻡ ﺍﻟﻤﺤﺎﺴﺒﺔ‬
‫ﻜﻠﻴﺔ ﺍﻻﻗﺘﺼﺎﺩ‬
‫ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ‬

‫ﺍﻟﻤﻠﺨﺹ‬
‫ﻴﺘﻨﺎﻭل ﻫﺫﺍ ﺍﻟﺒﺤﺙ ﺩﺭﺍﺴﺔ ﻤﻔﺎﻫﻴﻡ ﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻤﻥ ﻭﺠﻬﺔ ﻨﻅﺭ‬
‫ﻼ ﻋﻥ ﺍﺨﺘﺒﺎﺭ ﻤﺩﻯ‬
‫ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ ﻭﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻭﺍﻟﻤﻘﺎﺭﻨﺔ ﺒﻴﻨﻬﻤﺎ‪ ،‬ﻓﻀ ﹰ‬
‫ﺘﻁﺒﻴﻕ ﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﺍﻟﺸﺭﻜﺎﺕ ﺍﻟﺴﻭﺭﻴﺔ ﺴﻭﺍﺀ ﺃﻜﺎﻨﺕ ﻋﺎﻤﺔ ﺃﻡ ﺨﺎﺼﺔ‪.‬‬
‫ﻭﻗﺩ ﺘﻭﺼﻠﺕ ﺍﻟﺩﺭﺍﺴﺔ ﺇﻟﻰ ﺘﺤﺩﻴﺩ ﻟﻠﻔﺭﻭﻗﺎﺕ ﺍﻷﺴﺎﺴﻴﺔ ﺒﻴﻥ ﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ‬
‫ﻼ‬
‫ﺍﻷﺠل ﻭﻓﻘ ﹰﺎ ﻟﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ ﻤﻥ ﺠﻬﺔ ﻭﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻤﻥ ﺠﻬﺔ ﺃﺨﺭﻯ ﻓﻀ ﹰ‬
‫ﻋﻥ ﺍﻻﺴﺘﻨﺘﺎﺝ ﺍﻟﺭﺌﻴﺴﻲ ﺒﺄﻥ ﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻏﻴﺭ ﻤﻁﺒﻘﺔ ﻓﻲ ﺍﻟﻘﻁﺎﻋﻴﻥ‬
‫ﺍﻟﻌﺎﻡ ﻭﺍﻟﺨﺎﺹ ﻓﻲ ﺴﻭﺭﻴﺔ ﻟﻌﺩﺓ ﺃﺴﺒﺎﺏ ﺃﻫﻤﻬﺎ ﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﻟﺘﺯﺍﻡ ﺸﺭﻜﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ‬
‫ﻼ ﻋﻥ ﻀﻌﻑ‬
‫ﺒﺘﻁﺒﻴﻕ ﺍﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﺍﻟﺫﻱ ﻻ ﻴﺘﻁﻠﺏ ﺇﺠﺭﺍﺀ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ‪ ،‬ﻓﻀ ﹰ‬
‫ﺍﻟﻭﻋﻲ ﺍﻟﻤﻬﻨﻲ ﺍﻟﻤﺤﺎﺴﺒﻲ ﻓﻲ ﺴﻭﺭﻴﺔ ﻓﻲ ﻫﺫﺍ ﺍﻟﻤﺠﺎل‪ ،‬ﻭﺘﻭﺼل ﺍﻟﺒﺎﺤﺙ ﺇﻟﻰ ﻋﺩﺓ ﺘﻭﺼﻴﺎﺕ ﺃﻫﻤﻬﺎ‬
‫ﻀﺭﻭﺭﺓ ﺘﺒﻨﻲ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻭﺨﺎﺼﺔ ﻤﺎ ﻴﺘﻌﻠﻕ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪،‬‬
‫ﻭﻀﺭﻭﺭﺓ ﺇﻨﺸﺎﺀ ﺴﻭﻕ ﻤﺎﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ‪ ،‬ﻭﺇﻋﺎﺩﺓ ﺍﻟﻨﻅﺭ ﻓﻲ ﺍﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﻭﻜﻴﻔﻴﺔ‬
‫ﺘﻁﺒﻴﻘﻪ‪.‬‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫‪ .1‬ﻤﺸﻜﻠﺔ ﺍﻟﺒﺤﺙ ﻭﺃﻫﻤﻴﺘﻪ‪:‬‬

‫ﺍﻫﺘﻤﺕ ﺍﻷﺩﺒﻴﺎﺕ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﺍﻟﺘﻘﻠﻴﺩﻴﺔ ﺍﻟﺘﻲ ﻜﺎﻨﺕ ﺴﺎﺌﺩﺓ ﺤﺘﻰ ﺃﻭﺍﺴﻁ ﺍﻟﺘﺴﻌﻴﻨﻴﺎﺕ ﻤﻥ ﺍﻟﻘﺭﻥ ﺍﻟﻤﺎﻀﻲ‬
‫ﺒﺘﻘﻭﻴﻡ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ‪ Long-Lived Assets‬ﺒﺜﻤﻥ ﺍﻟﺘﻜﻠﻔﺔ ﺤﺘﻰ ﻭﻟﻭ ﺍﻨﺨﻔﻀﺕ ﻗﻴﻤﺘﻬﺎ ﺍﻟﻌﺎﺩﻟﺔ‬
‫‪ Fair Value‬ﻋﻥ ﺘﻜﻠﻔﺘﻬﺎ ﺍﻟﺩﻓﺘﺭﻴﺔ ‪ ،1Carrying Amount‬ﻭﻤﺒﺭﺭ ﺫﻟﻙ ﻜﺎﻥ ﻤﺒﻨﻴ ﹰﺎ ﻋﻠﻰ ﻜﻭﻥ ﺍﻟﻬﺩﻑ ﻤﻥ‬
‫ﻼ ﻋﻥ ﺃﻥ‬
‫ﺍﻗﺘﻨﺎﺀ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻫﻭ ﺍﺴﺘﺨﺩﺍﻤﻬﺎ ﻓﻲ ﺍﻟﻌﻤﻠﻴﺎﺕ ﺍﻟﺘﺸﻐﻴﻠﻴﺔ ﻭﻟﻴﺱ ﺇﻋﺎﺩﺓ ﺒﻴﻌﻬﺎ‪ ،‬ﻓﻀ ﹰ‬
‫ﺇﺜﺒﺎﺕ ﺍﻻﺴﺘﻬﻼﻙ ﺍﻟﺴﻨﻭﻱ ﻟﻸﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺴﻭﻑ ﻴﺅﻤﻥ ﺴﻨﺔ ﺒﻌﺩ ﺃﺨﺭﻯ ﺘﻐﻁﻴﺔ ﺘﻜﻠﻔﺔ ﺍﻷﺼﻭل‬
‫ﺍﻟﺩﻓﺘﺭﻴﺔ‪ ،‬ﻜﻤﺎ ﻭﺠﺩ ﺍﻟﻤﺤﺎﺴﺒﻭﻥ ﺼﻌﻭﺒﺔ ﻓﻲ ﺍﻟﻭﺼﻭل ﺇﻟﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺴﻭﻗﻴﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻟﻸﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‬
‫ﺒﺸﻜل ﻤﻭﻀﻭﻋﻲ ﺒﻌﻴﺩﹰﺍ ﻋﻥ ﺍﻟﺘﻘﺩﻴﺭﺍﺕ ﺍﻟﺸﺨﺼﻴﺔ ﻋﻠﻰ ﻋﻜﺱ ﺍﻟﻤﺨﺯﻭﻥ ﺍﻟﺴﻠﻌﻲ‪.‬‬
‫ﻭﻗﺩ ﺃﺴﻬﻤﺕ ﺍﻟﻤﻨﻅﻤﺎﺕ ﺍﻟﻤﻬﻨﻴﺔ ﻓﻲ ﺍﻟﻭﻻﻴﺎﺕ ﺍﻟﻤﺘﺤﺩﺓ ﺍﻷﻤﺭﻴﻜﻴﺔ ﻜﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ‬
‫ﻼ ﻋﻥ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ‪ 3IASB‬ﻓﻲ ﺇﺼﺩﺍﺭ ﻤﻌﺎﻴﻴﺭ ﻤﺤﺎﺴﺒﻴﺔ ﺘﻁﻠﺏ ﻤﻥ‬
‫‪ 2FASB‬ﻓﻀ ﹰ‬
‫ﺍﻟﺸﺭﻜﺎﺕ ﺘﻁﺒﻴﻕ ﻗﺎﻋﺩﺓ "ﺍﻟﺘﻜﻠﻔﺔ" ﻓﻲ ﺘﻘﻴﻴﻡ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺃﻭ ﻤﺎ ﻴﺴﻤﻰ ﺍﻟﻤﻤﺘﻠﻜﺎﺕ ﻭﺍﻟﻤﺼﺎﻨﻊ‬
‫ﻼ ﻋﻥ‬
‫ﻭﺍﻟﻤﻌﺩﺍﺕ ‪ ،Property, Plant and Equipment‬ﺇﻻ ﺃﻥ ﺘﻐﻴﺭ ﺍﻷﺤﺩﺍﺙ ﻭﺍﻟﻅﺭﻭﻑ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ‪ ،‬ﻓﻀ ﹰ‬
‫ﺍﻟﻅﺭﻭﻑ ﺍﻟﺘﻀﺨﻤﻴﺔ ﻗﺩ ﺘﺠﻌل ﺍﻟﺘﻜﻠﻔﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﺍﻟﺘﺎﺭﻴﺨﻴﺔ )ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺤﻤل( ﻟﻸﺼل ﻁﻭﻴل ﺍﻷﺠل ﻏﻴﺭ ﻗﺎﺒل‬
‫ﻟﻼﺴﺘﺭﺩﺍﺩ ﺒﺸﻜل ﻜﺎﻤل‪ ،‬ﻭﻫﻨﺎ ﺘﻭﺍﺠﻪ ﺍﻟﺸﺭﻜﺔ ﻤﺸﻜﻠﺔ ﺨﺴﺎﺭﺓ ﻤﺘﻤﺜﻠﺔ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ‬
‫ﺍﻷﺠل‪ ،‬ﻭﻫﺫﺍ ﺃﺩﻯ ﺇﻟﻰ ﺤﺎﺠﺔ ﺍﻟﻤﺠﺘﻤﻊ ﺍﻟﻤﺎﻟﻲ ﻟﻤﻌﺎﻴﻴﺭ ﻤﺤﺎﺴﺒﻴﺔ ﺠﺩﻴﺩﺓ ﺘﻐﻁﻲ ﻤﺴﺄﻟﺔ ﺘﻘﻴﻴﻡ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ‬
‫ﺍﻷﺠل ﺒﺎﻟﻘﻴﻡ ﺍﻟﻌﺎﺩﻟﺔ ﻋﻨﺩ ﺍﻨﺨﻔﺎﻀﻬﺎ ﻋﻥ ﺍﻟﺘﻜﻠﻔﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل‪ ،‬ﻭﻤﻥ ﺜ ‪‬ﻡ ﺘﻘﻭﻡ ﺍﻟﺸﺭﻜﺔ ﺒﺎﻻﻋﺘﺭﺍﻑ‬
‫ﺒﺨﺴﺎﺭﺓ ﺍﻻﻨﺨﻔﺎﺽ ﻭﺍﻹﻓﺼﺎﺡ ﻋﻨﻬﺎ‪ ،4‬ﻓﻔﻲ ﻋﺎﻡ ‪ 1995‬ﺃﺼﺩﺭ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ‬
‫‪ FASB‬ﺒﻴﺎﻥ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺭﻗﻡ ‪ SFAS121‬ﺍﻟﺫﻱ ﻭﻀﻊ ﺍﻟﻘﻭﺍﻋﺩ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﺍﻟﺨﺎﺼﺔ‬
‫ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺍﻟﺫﻱ ﺤل ﻤﺤﻠﻪ ﺒﻴﺎﻥ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺭﻗﻡ ‪SFAS144‬‬
‫ﻋﺎﻡ ‪ ،2001‬ﻜﻤﺎ ﺃﺼﺩﺭ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ‪ IASB‬ﻋﺎﻡ ‪ 1998‬ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ‬
‫ﺭﻗﻡ ‪ IAS36‬ﻭﺍﻟﺫﻱ ﻴﻁﻠﺏ ﻤﻥ ﺍﻟﺸﺭﻜﺎﺕ ﺃﻴﻀ ﹰﺎ ﺇﺠﺭﺍﺀ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪.‬‬

‫‪1 Godfryey, Jayne, Hodgson, Allan and Holmes, Scott, 2000. Accounting Theory, 3rd edition, John‬‬
‫‪Wiley & Sons, Australia. P101-133.‬‬
‫‪2 Kieso, Donald E., Weygandt, Jerry J., Warfield, Terry D., “Intermediate Accounting”, 11th Edition‬‬
‫‪Update Package, John Wiley & Sons, USA, 2004. P532 536.‬‬
‫‪3 IASC. 2001. International Accounting Standards Explained. John Wiley & Sons, Ltd. USA. P214-‬‬
‫‪224.‬‬
‫‪4 Schroeder, Richard G., Clark, Mytle W., Cathey, Jack M. 2001. Financial Accounting Theory and‬‬
‫‪Analysis. John Wiley & Sons, Ltd. USA. P252-257.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﻴﻬﺩﻑ ﺍﻟﺒﺤﺙ ﺇﻟﻰ ﺩﺭﺍﺴﺔ ﺍﻟﻤﻌﺎﻴﻴﺭ ﺍﻟﺼﺎﺩﺭﺓ ﻋﻥ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ ‪FASB‬‬
‫ﻭﻋﻥ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ‪ IASB‬ﺍﻟﻤﺘﻌﻠﻘﺔ ﺒﻤﺴﺄﻟﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‬
‫ﻼ ﻋﻥ ﺍﻟﺩﺭﺍﺴﺔ ﺍﻟﺘﺠﺭﻴﺒﻴﺔ ﺍﻟﺘﻲ ﺘﺘﻁﺭﻕ ﻻﺨﺘﺒﺎﺭ ﻤﺩﻯ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ‬
‫ﻭﻤﻘﺎﺭﻨﺘﻬﺎ‪ ،‬ﻓﻀ ﹰ‬
‫ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﻘﻁﺎﻋﻴﻥ ﺍﻟﻌﺎﻡ ﻭﺍﻟﺨﺎﺹ ﻓﻲ ﺴﻭﺭﻴﺔ‪ ،‬ﻭﺩﺭﺍﺴﺔ ﺍﻟﻤﻌﺎﻟﺠﺔ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﻟﻬﺎ ﻓﻲ‬
‫ﺤﺎل ﺘﻁﺒﻴﻘﻬﺎ ﺃﻭ ﻤﺒﺭﺭﺍﺕ ﻋﺩﻡ ﺘﻁﺒﻴﻘﻬﺎ‪.‬‬

‫‪:Research Methodology‬‬ ‫ﻤﻨﻬﺠﻴﺔ ﺍﻟﺒﺤﺙ‬ ‫‪.2‬‬

‫ﺍﻋﺘﻤﺩ ﺍﻟﺒﺎﺤﺙ ﻓﻲ ﺇﻨﺠﺎﺯ ﺍﻟﺒﺤﺙ ﻋﻠﻰ ﺍﻟﻤﻨﻬﺞ ﺍﻻﺴﺘﻨﺒﺎﻁﻲ ﺍﻟﺫﻱ ﻴﻌﺘﻤﺩ ﻋﻠﻰ ﺩﺭﺍﺴﺔ ﻤﺎ ﻜﺘﺏ ﻓﻲ ﺃﺩﺒﻴـﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺴﺒﺔ ﻭﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻭﺍﻷﻤﺭﻴﻜﻴﺔ ﺍﻟﻤﺘﻌﻠﻘﺔ ﺒﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤـﺔ ﺍﻷﺼـﻭل ﻁﻭﻴﻠـﺔ‬
‫ﺍﻷﺠل‪ ،‬ﻜﻤﺎ ﺍﻋﺘﻤﺩ ﺍﻟﺒﺤﺙ ﻋﻠﻰ ﺍﻟﻤﻨﻬﺞ ﺍﻻﺴﺘﻘﺭﺍﺌﻲ ﻓﻲ ﺇﺠﺭﺍﺀ ﺍﺴﺘﺒﻴﺎﻥ ﻋﻥ ﻗﻀﺎﻴﺎ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬
‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪.‬‬

‫‪:Research Hypotheses‬‬ ‫ﻓﺭﻭﺽ ﺍﻟﺒﺤﺙ‬ ‫‪.3‬‬

‫‪-1‬ﺇﻥ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻏﻴﺭ ﻤﻁﺒﻕ ﻓﻲ ﺴﻭﺭﻴﺔ ﺇﻟﻰ ﺍﻵﻥ‪.‬‬
‫‪-2‬ﺇﻥ ﻀﻌﻑ ﺍﻟﻭﻋﻲ ﺍﻟﻤﻬﻨﻲ ﻭﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻲ ﻓﻲ ﺴﻭﺭﻴﺔ ﻤﻥ ﺃﻫﻡ ﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻕ ﺍﻨﺨﻔﺎﺽ‬
‫ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺴﻭﺭﻴﺔ‪.‬‬
‫‪-3‬ﺇﻥ ﺍﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﻴﻌﻴﻕ ﺍﻟﺘﻔﻜﻴﺭ ﺒﺘﻁﺒﻴﻕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺸﺭﻜﺎﺕ‬
‫ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﻤﺅﺴﺴﺎﺘﻪ‪.‬‬

‫‪:Prior Researches‬‬ ‫ﺍﻟﺩﺭﺍﺴﺎﺕ ﺍﻟﺴﺎﺒﻘﺔ‬ ‫‪.4‬‬

‫ﻗﺒل ﺼﺩﻭﺭ ﺒﻴﺎﻥ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS121‬ﺍﻟﻤﺘﻌﻠﻕ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ‬
‫‪5‬‬
‫ﺍﻷﺠل ﺼﺩﺭﺕ ﻋﺩﺓ ﺩﺭﺍﺴﺎﺕ ﻋﻥ ﻫﺫﺍ ﺍﻟﻤﻭﻀﻭﻉ‪ ،‬ﻤﻨﻬﺎ ﺍﻟﺩﺭﺍﺴﺔ ﺍﻟﺘﻲ ﺃﻋﺩﻫﺎ ﻏﻭﺘﻠﻴﺩ )‪Gottlied (1992‬‬
‫ﺍﻟﺘﻲ ﺘﻨﺎﻭل ﻓﻴﻬﺎ ﻗﻀﻴﺔ ﺍﻻﻋﺘﺭﺍﻑ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﻗﻴﺎﺴﻬﺎ ﻭﺍﻹﻓﺼﺎﺡ ﻋﻨﻬﺎ‪،‬‬
‫ﻭﺍﺴﺘﻨﺘﺠﺕ ﺍﻟﺩﺭﺍﺴﺔ ﺘﺠﺭﻴﺒﻴ ﹰﺎ ﺃﻫﻤﻴﺔ ﺇﺠﺭﺍﺀ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻭﺇﺜﺒﺎﺘﻪ ﻤﺤﺎﺴﺒﻴ ﹰﺎ ﻭﺘﺄﺜﻴﺭﻩ ﺍﻹﻴﺠﺎﺒﻲ ﻓﻲ‬
‫ﺍﻟﺘﻘﺎﺭﻴﺭ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﺘﺨﺎﺫ ﺍﻟﻘﺭﺍﺭﺍﺕ ﻓﻲ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ‪.‬‬

‫‪5 Gottlied, Max 1992. “Impairment of long-lived assets: recognition, measurement and disclosure”,‬‬
‫‪The CPA Journal, e-publications www.nysscpa.org, USA.‬‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﻭﺇﺜﺭ ﺼﺩﻭﺭ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS121‬ﺍﻟﻤﺘﻌﻠﻕ ﺒﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬
‫‪6‬‬
‫ﺒﺈﺠﺭﺍﺀ ﺩﺭﺍﺴﺔ ﻋﻥ ﻤﺸﺎﻜل ﺘﻁﺒﻴﻕ ﺍﻟﺒﻴﺎﻥ ﺭﻗﻡ ‪SFAS121‬‬ ‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻗﺎﻡ ﻤﻭﻨﺘﺎﺭ )‪Munter (1995‬‬
‫ﻭﺃﻫﻤﻬﺎ ﺍﻷﺤﻜﺎﻡ ﺍﻟﻤﻬﻨﻴﺔ ‪ Professional Judgment‬ﺍﻟﺘﻲ ﺘﺅﺩﻱ ﺩﻭﺭﹰﺍ ﺃﺴﺎﺴﻴﹰﺎ ﻓﻲ ﺘﻘﺩﻴﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ‪،‬‬
‫ﻭﺘﻭﺼﻠﺕ ﺍﻟﺩﺭﺍﺴﺔ ﺇﻟﻰ ﻨﺘﻴﺠﺔ ﻤﻔﺎﺩﻫﺎ ﺃﻥ ﺍﻷﺤﻜﺎﻡ ﺍﻟﻤﻬﻨﻴﺔ ﺍﻟﻤﺴﺘﺨﺩﻤﺔ ﻓﻲ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ‬
‫ﺘﻘﻠل ﻤﻥ ﻤﻭﻀﻭﻋﻴﺔ ﺍﻟﻘﻴﺎﺱ ﻨﻅﺭﹰﺍ ﻟﺘﺄﺜﺭﻫﺎ ﺒﺎﻷﺤﻜﺎﻡ ﻭﺍﻵﺭﺍﺀ ﺍﻟﺸﺨﺼﻴﺔ‪ ،‬ﻭﻗﺩ ﻗﺎﻡ ﻜل ﻤﻥ ﻜﻭﻜﻭ ﻭﻤﻭﺭﺯ‬
‫‪7‬‬
‫ﺒﺩﺭﺍﺴﺔ ﻤﻤﺎﺜﻠﺔ ﻟﻠﺩﺭﺍﺴﺔ ﺍﻟﺴﺎﺒﻘﺔ ﺘﻭﺼﻠﺕ ﻟﻨﺘﺎﺌﺞ ﻤﺸﺎﺒﻬﺔ‪.‬‬ ‫)‪Cocco & Moores (1995‬‬

‫ﻭﻨﻅﺭﹰﺍ ﻷﻫﻤﻴﺔ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺼﻨﺎﻋﺔ ﺇﻨﺘﺎﺝ ﺍﻟﻨﻔﻁ ﻭﺍﻟﻐﺎﺯ ﻓﻘﺩ‬
‫ﺃﺠﺭﻴﺕ ﻋﺩﺓ ﺩﺭﺍﺴﺎﺕ ﺘﻁﺭﻗﺕ ﻟﺩﺭﺍﺴﺔ ﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‬
‫ﻭﻤﺸﺎﻜﻠﻬﺎ ﻓﻲ ﺼﻨﺎﻋﺔ ﺇﻨﺘﺎﺝ ﺍﻟﻨﻔﻁ ﻭﺍﻟﻐﺎﺯ‪ ،‬ﻭﻤﻥ ﻫﺫﻩ ﺍﻟﺩﺭﺍﺴﺎﺕ ﺍﻟﺩﺭﺍﺴﺔ ﺍﻟﺘﻲ ﺃﺠﺭﺍﻫﺎ ﺃﻟﺴﻴﺎﺘﻭﺭ ﻭﺁﺨﺭﻭﻥ‬
‫)‪ 8Alciator et al (2000‬ﻋﻥ ﻤﺤﺎﺴﺒﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻤﻊ ﺍﻟﺘﻁﺒﻴﻕ ﻋﻠﻰ ﺼﻨﺎﻋﺔ‬
‫ﺍﻟﺒﺘﺭﻭل‪ ،‬ﻭﺍﺴﺘﻨﺘﺠﺕ ﻫﺫﻩ ﺍﻟﺩﺭﺍﺴﺔ ﺃﻥ ﺇﺜﺒﺎﺕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺸﺭﻜﺎﺕ ﺇﻨﺘﺎﺝ‬
‫ﻭﺍﺴﺘﻜﺸﺎﻑ ﺍﻟﺒﺘﺭﻭل ﺍﻟﺘﻲ ﺘﺘﺒﻊ ﻁﺭﻴﻘﺔ ﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺠﻬﻭﺩﺍﺕ ﺍﻟﻨﺎﺠﺤﺔ ‪ Successful Efforts Method‬ﻟﻪ‬
‫ﺃﻫﻤﻴﺔ ﻜﺒﻴﺭﺓ ﻓﻲ ﺍﻟﺘﻘﺎﺭﻴﺭ ﺍﻟﻤﺎﻟﻴﺔ ﻟﻬﺫﻩ ﺍﻟﺸﺭﻜﺎﺕ ﻭﺘﺄﺜﻴﺭ ﺠﻭﻫﺭﻱ ﻓﻲ ﻗﺭﺍﺭﺍﺕ ﺍﻟﻤﺴﺘﺜﻤﺭﻴﻥ‪.‬‬
‫‪9‬‬
‫ﺃﻤﺎ ﺃﻋﻀﺎﺀ ﻟﺠﻨﺔ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ ﻓﻲ ﻤﺠﻤﻊ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ )‪AAA FASC (2001‬‬
‫ﻓﻘﺩ ﺃﻋﺩﻭﺍ ﺩﺭﺍﺴﺔ ﺘﺠﺭﻴﺒﻴﺔ ﺤﻭل ﻨﻤﺎﺫﺝ ﺘﻘﻴﻴﻡ ﺤﻘﻭﻕ ﺍﻟﻤﻠﻜﻴﺔ ﻭﻗﻴﺎﺱ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻟﺸﻬﺭﺓ ‪Equity‬‬
‫‪ Valuation Models and Measuring Goodwill Impairment‬ﻭﻗﺩ ﻗﺩﻤﺕ ﻫﺫﻩ ﺍﻟﺩﺭﺍﺴﺔ ﺃﺴﺎﻟﻴﺏ ﺘﻘﻴﻴﻡ‬
‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻟﺸﻬﺭﺓ ﻭﻨﺎﻗﺸﺕ ﺇﻤﻜﺎﻨﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻭﺩﺭﺴﺕ ﺍﻟﺠﺩﻭﻯ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻻﺨﺘﺒﺎﺭ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ‬
‫ﺍﻟﻘﻴﻤﺔ ﻭﻓﻕ ﻨﻤﺎﺫﺝ ﺭﻴﺎﻀﻴﺔ ﻤﺤﺩﺩﺓ‪.‬‬
‫ﻓﻘﺩ ﻗﺎﻡ ﺒﺈﺠﺭﺍﺀ ﺩﺭﺍﺴﺔ ﺘﺠﺭﻴﺒﻴﺔ ﺒﻌﻨﻭﺍﻥ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬ ‫‪10‬‬
‫ﺃﻤﺎ ﺇﺩﻭﺍﺭﺩ )‪Edward (2004‬‬
‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل ‪ An Examination of Long-Lived Asset Impairment‬ﺒﺤﺙ ﻓﻴﻬﺎ ﻀﺭﻭﺭﺍﺕ ﻤﻌﻴﺎﺭ‬
‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺍﻟﻤﺘﻤﺜﻠﺔ ﺒﺘﺤﺴﻴﻥ ﺍﻟﺘﻘﺎﺭﻴﺭ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﺴﺘﻨﺘﺞ ﺃﻥ ﻫﺫﺍ ﺍﻟﻤﻌﻴﺎﺭ ﻤﺎ ﺯﺍل‬

‫‪6 Munter, Paul, 1995, “SFAS No. 121 and Impairment of Assets: The Need for Professional‬‬
‫‪Judgment”, The CPA Journal, KPMG, e-publications www.nysscpa.org, USA.‬‬
‫‪7 Cocco, Anthony and Moores, Tommy, 1995, “Accounting for the Impairment of Long-Lived‬‬
‫‪Assets”, The CPA Journal, e-publications www.nysscpa.org, USA.‬‬
‫‪8 Alciatore, Mini, Easton, Peter, and Spear, Nassr. (2000). “Accounting for the impairment of long-‬‬
‫‪lived assets: Evidence from the petroleum industry”. Journal of Accounting and Economic. Volume‬‬
‫‪29, Issue 2, April 2000, Pages 151-172.‬‬
‫‪9 AAA Financial accounting Standards Committee (Robert H. Herz, et al). 2001. “Equity Valuation‬‬
‫‪Models and Measuring Goodwill Impairment”, Accounting Horizons, June 2001 Issue, USA. P44-56‬‬
‫‪10 Edward J., Riedl, 2004, “An Examination of Long-Lived Asset Impairment”, Accounting‬‬
‫‪Review, July 2004 Issue, USA. P34-46.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﺒﺤﺎﺠﺔ ﻟﺘﻘﺩﻴﺭﺍﺕ ﻤﻭﻀﻭﻋﻴﺔ ﻭﺭﺒﻁ ﺃﻗﻭﻯ ﺒﺎﻟﻌﻭﺍﻤل ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻟﻤﺤﻴﻁﺔ ﺒﺎﻟﻤﺸﺭﻭﻉ‪ ،‬ﻭﺃﻥ ﻫﻨﺎﻙ ﺘﺄﺜﻴﺭﹰﺍ‬
‫ﻟﺴﻠﻭﻙ ﺍﻟﻤﺩﻴﺭﻴﻥ ﻓﻲ ﺍﻟﺘﺨﻔﻴﻀﺎﺕ ﺒﺎﻟﻘﻴﻤﺔ ﺍﻟﺘﻲ ﺘﺠﺭﻴﻬﺎ ﺍﻹﺩﺍﺭﺓ ﻤﻤﺎ ﻴﺅﺜﺭ ﺴﻠﺒ ﹰﺎ ﻓﻲ ﺠﻭﺩﺓ ﺍﻟﺘﻘﺎﺭﻴﺭ ﺍﻟﻤﺎﻟﻴﺔ‬
‫‪11‬‬
‫ﺒﺩﺭﺍﺴﺔ ﻤﺸﺎﻜل‬ ‫ﻭﻓﻕ ﻨﺘﺎﺌﺞ ﺍﻟﺩﺭﺍﺴﺔ ﺍﻟﺘﺠﺭﻴﺒﻴﺔ‪ ،‬ﻜﻤﺎ ﻗﺎﻡ ﻓﻴﺭﻭﻨﻴﻙ ﻭﺁﺨﺭﻭﻥ )‪Veronique (2004‬‬
‫ﺘﻁﺒﻴﻕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻟﺸﻬﺭﺓ‪ ،‬ﻭﺍﺴﺘﻨﺘﺠﺕ ﺍﻟﺩﺭﺍﺴﺔ ﺃﻥ ﻫﻨﺎﻙ ﺠﺩ ﹰﻻ ﻜﺒﻴﺭﹰﺍ ﺒﻴﻥ ﻤﺭﺍﺠﻊ ﺍﻟﺤﺴﺎﺒﺎﺕ ﻭﺍﻹﺩﺍﺭﺓ‬
‫ﻓﻲ ﻤﺴﺄﻟﺔ ﺍﻻﻋﺘﺭﺍﻑ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻟﺸﻬﺭﺓ ﻭﺍﻟﻤﻌﺎﻟﺠﺔ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﺍﻟﻤﻭﻀﻭﻋﻴﺔ ﻟﻬﺎ‪.‬‬
‫ﺃﻤﺎ ﻓﻲ ﺴﻭﺭﻴﺔ ﻓﻠﻡ ﻴﻌﺜﺭ ﺍﻟﺒﺎﺤﺙ ﻋﻠﻰ ﺃﻴﺔ ﺩﺭﺍﺴﺎﺕ ﺘﺘﻌﻠﻕ ﺒﻬﺫﺍ ﺍﻟﻤﻭﻀﻭﻉ‪.‬‬

‫‪:Accounting Organization point of view‬‬ ‫ﻤﻭﻗﻑ ﺍﻟﻤﻨﻅﻤﺎﺕ ﺍﻟﻤﻬﻨﻴﺔ‬ ‫‪.5‬‬

‫ﺃ‪ -‬ﻤﻭﻗﻑ ﺍﻟﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﻓﻲ ﺍﻟﻭﻻﻴﺎﺕ ﺍﻟﻤﺘﺤﺩﺓ ﺍﻷﻤﺭﻴﻜﻴﺔ‪:‬‬

‫ﻴﻨﺹ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﻋﻠﻰ ﻀﺭﻭﺭﺓ ﺇﺜﺒﺎﺕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬
‫ﻋ ‪‬ﺩ ﺍﻟﺒﻴﺎﻥ ﺃﻥ ﺇﺠﺭﺍﺀ ﺘﻘﻴﻴﻡ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬
‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻜﻤﺼﺭﻭﻑ ﻀﻤﻥ ﻗﺎﺌﻤﺔ ﺍﻟﺩﺨل‪ ،‬ﻭﻗﺩ ‪‬‬
‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻴﺘﻁﻠﺏ ﺘﻭﺍﻓﺭ ﻋﺩﺩ ﻤﻥ ﺍﻟﻤﺅﺸﺭﺍﺕ ﺍﻟﺘﻲ ﺘﺸﻴﺭ ﺇﻟﻰ ﺍﺤﺘﻤﺎل ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‬
‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪ ،‬ﻭﻗﺩ ﺤﺩﺩ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﺃﻤﺜﻠﺔ ﻋﻥ ﺍﻷﺩﻟﺔ ﻋﻠﻰ ﻭﺠﻭﺩ‬
‫‪12‬‬
‫ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺴﻭﻗﻴﺔ ﻟﻸﺼل ﺇﻟﻰ ﺤﺩ ﻜﺒﻴﺭ ﺃﻜﺜﺭ ﻤﻥ ﺍﻟﻤﺘﻭﻗﻊ‬ ‫ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼل ﺃﻫﻤﻬﺎ‬
‫ﺒﺴﺒﺏ ﺍﻟﺯﻤﻥ ﺃﻭ ﺍﻻﺴﺘﺨﺩﺍﻡ ﺍﻟﻌﺎﺩﻱ‪ ،‬ﺃﻭ ﺤﺼﻭل ﺘﻐﻴﺭﺍﺕ ﻤﻬﻤﺔ ﺤﺎﻟﻴﺔ ﺃﻭ ﻤﺘﻭﻗﻌﺔ ﻓﻲ ﺍﻟﺒﻴﺌﺔ ﺍﻟﺘﻘﻨﻴﺔ ﺃﻭ‬
‫ﺍﻟﺴﻭﻗﻴﺔ ﺃﻭ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺃﻭ ﺍﻟﻘﺎﻨﻭﻨﻴﺔ‪ ،‬ﺃﻭ ﺯﻴﺎﺩﺓ ﺃﺴﻌﺎﺭ ﺍﻟﻔﺎﺌﺩﺓ ﻓﻲ ﺍﻟﺴﻭﻕ ﺃﻭ ﻤﻌﺩﻻﺕ ﺍﻟﻌﺎﺌﺩ ﺍﻷﺨﺭﻯ ﻓﻲ‬
‫ﺍﻟﺴﻭﻕ ﺍﻟﺘﻲ ﺘﺅﺜﺭ ﻓﻲ ﺴﻌﺭ ﺍﻟﺨﺼﻡ ﺍﻟﻤﺴﺘﺨﺩﻡ ﻓﻲ ﺤﺴﺎﺏ ﻗﻴﻤﺔ ﺍﻷﺼل ﺍﻟﻤﺴﺘﻌﻤﻠﺔ‪ ،‬ﺃﻭ ﺯﻴﺎﺩﺓ ﺍﻟﻘﻴﻤﺔ‬
‫ﺍﻟﺩﻓﺘﺭﻴﺔ ﺍﻟﺼﺎﻓﻴﺔ ﻟﻸﺼل ﻋﻠﻰ ﻗﻴﻤﺘﻪ ﺍﻟﺴﻭﻗﻴﺔ‪ ،‬ﺃﻭ ﻭﺠﻭﺩ ﺃﺩﻟﺔ ﻋﻠﻰ ﺒﻁﻼﻥ ﺍﺴﺘﻌﻤﺎل ﺍﻷﺼل ﺃﻭ ﺤﺩﻭﺙ‬
‫ﺘﻠﻑ ﻓﻴﻪ‪ ،‬ﺃﻭ ﻭﺠﻭﺩ ﺘﻐﻴﺭﺍﺕ ﻤﻬﻤﺔ ‪-‬ﺤﺎﻟﻴﺔ ﺃﻭ ﻤﺘﻭﻗﻌﺔ‪ -‬ﺘﺸﻤل ﻭﺠﻭﺩ ﺨﻁﻁ ﻹﻴﻘﺎﻑ ﺃﻭ ﺇﻋﺎﺩﺓ ﻫﻴﻜﻠﺔ‬
‫ﺍﻟﻌﻤﻠﻴﺔ ﺍﻟﺘﻲ ﻴﻨﺘﻤﻲ ﺇﻟﻴﻬﺎ ﺍﻷﺼل‪ ،‬ﺃﻭ ﺍﻟﺘﺼﺭﻑ ﻓﻲ ﺍﻷﺼل ﻗﺒل ﺍﻟﺘﺎﺭﻴﺦ ﺍﻟﻤﺘﻭﻗﻊ ﺴﺎﺒﻘﺎﹰ‪ ،‬ﺃﻭ ﻭﺠﻭﺩ ﺃﺩﻟﺔ‬
‫ﺘﺸﻴﺭ ﺇﻟﻰ ﺴﻭﺀ ﺍﻷﺩﺍﺀ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺃﻭ ﺴﻴﻜﻭﻥ ﺃﺴﻭﺃ ﻤﻤﺎ ﻫﻭ ﻤﺘﻭﻗﻊ‪ ،‬ﻤﺜﺎل ﺫﻟﻙ‪ :‬ﺍﺭﺘﻔﺎﻉ ﺘﻜﺎﻟﻴﻑ ﺍﻤﺘﻼﻙ‬
‫ﺍﻷﺼل ﺃﻭ ﺘﺸﻐﻴﻠﻪ ﻭﺼﻴﺎﻨﺘﻪ ﻤﻘﺎﺭﻨﺔ ﺒﺎﻟﻤﻭﺍﺯﻨﺔ‪ ،‬ﺃﻭ ﻜﻭﻥ ﺍﻟﺭﺒﺢ ﺃﻭ ﺍﻟﺨﺴﺎﺭﺓ ﺍﻟﺘﺸﻐﻴﻠﻴﺔ ﺍﻟﻤﺘﺩﻓﻘﺔ ﻤﻥ ﺍﻷﺼل‬
‫ﺃﺴﻭﺃ ﻤﻤﺎ ﻫﻲ ﺒﺎﻟﻤﻭﺍﺯﻨﺔ ﻭﺴﻭﺍﻫﺎ‪.‬‬

‫‪11 Veronique, G. Frucot, Leland, G. Jordan, and Marc, I. Lebow, “A&B Companies: Impairment of‬‬
‫‪Goodwill”, Issues in Accounting Education”, August 2004 Issue, USA. P21-34.‬‬
‫‪12 SFAS144, Para. 8, and IAS36, Para. 9.‬‬
‫‪Kieso, Donald E., Weygandt, Jerry J., Warfield, Terry D., “Intermediate Accounting”, 11th Edition‬‬
‫‪Update Package, Wiley, USA, 2004. P562.‬‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ :Impairment Loss Recognition‬ﻭﻓﻘ ﹰﺎ ﻟﻠﺒﻴﺎﻥ ﺭﻗﻡ ‪SFAS144‬‬
‫ﺍﻟﺼﺎﺩﺭ ﻋﻥ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻷﻤﺭﻴﻜﻴﺔ ‪ FASB‬ﻴﺠﺏ ﻋﻠﻰ ﺍﻹﺩﺍﺭﺓ ﺃﻥ ﺘﻘﻭﻡ ﻓﻲ ﻜل ﻓﺘﺭﺓ ﻤﺎﻟﻴﺔ‬
‫ﺒﺎﻟﺒﺤﺙ ﻋﻥ ﺍﻷﺴﺒﺎﺏ ﺍﻟﺘﻲ ﺘﺠﻌﻠﻬﺎ ﺘﺸﻜﻙ ﻓﻲ ﺃﻥ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻤﻥ ﺍﻟﻤﻤﻜﻥ ﺃﻥ ﻻ ﺘﻜﻭﻥ ﻗﺎﺒﻠﺔ‬
‫ﻟﻼﺴﺘﺭﺩﺍﺩ‪ ،13‬ﻭﻴﻭﺠﺩ ﺍﻨﺨﻔﺎﺽ ﺤﺴﺏ ﺍﻟﺒﻴﺎﻥ ﺭﻗﻡ ‪ SFAS144‬ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﺇﺫﺍ ﺘﺠﺎﻭﺯﺕ ﺍﻟﻘﻴﻤﺔ‬
‫ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل )ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل( ‪ Asset's Carrying Amount‬ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ‬
‫‪14‬‬
‫ﺍﻟﻤﺘﻭﻗﻌﺔ ‪) Expected Future Cash Flows‬ﻏﻴﺭ ﺍﻟﻤﺨﺼﻭﻤﺔ ‪.(Undiscounted Basis‬‬
‫ﻭﻟﻡ ﻴﻌﺭﻑ ﺍﻟﺒﻴﺎﻥ ﺭﻗﻡ ‪ SFAS144‬ﻤﻜﻭﻨﺎﺕ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺤﻤل ﻟﻸﺼل ﻁﻭﻴل ﺍﻷﺠـل‪ ،‬ﻟﻜـﻥ ﺍﻟﺒﻴـﺎﻥ ﻋـﺭﻑ‬
‫ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺒﺄﻨﻬﺎ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﺩﺍﺨﻠﺔ ﺍﻟﻤﺘﻭﻗﻊ ﺃﻥ ﻴﻭﻟـﺩﻫﺎ ﺃﺼـل ﻤـﺎ‬
‫ﻨﺎﻗﺹ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﺨﺎﺭﺠﺔ ﺍﻟﻤﺘﻭﻗﻊ ﺃﻥ ﺘﻜﻭﻥ ﻀﺭﻭﺭﻴﺔ ﻟﻠﺤﺼﻭل ﻋﻠﻰ ﺘﻠـﻙ ﺍﻟﺘـﺩﻓﻘﺎﺕ‬
‫ﺍﻟﺩﺍﺨﻠﺔ )ﻏﻴﺭ ﺍﻟﻤﺨﺼﻭﻤﺔ ﻭﺩﻭﻥ ﺃﻋﺒﺎﺀ ﺍﻟﻔﻭﺍﺌﺩ(‪.15‬‬
‫ﺃﻤﺎ ﺒﺎﻟﻨﺴﺒﺔ ﻟﻸﺼﻭل ﺍﻟﻤﻤﻠﻭﻜﺔ ﻤﻥ ﺃﺠل ﺍﻻﺴﺘﺨﺩﺍﻡ ﺃﻭ ﺍﻻﺤﺘﻔﺎﻅ ﺒﻬﺎ ‪ Held and Used‬ﻓـﺈﻥ ﺍﻨﺨﻔـﺎﺽ‬
‫ﺍﻟﻘﻴﻤﺔ ﻴﻘﺎﺱ ﺃﻭ ﹰﻻ ﻋﻠﻰ ﺃﺴﺎﺱ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﻏﻴﺭ ﺍﻟﻤﺨﺼﻭﻤﺔ ‪ Undiscounted Cash Flows‬ﻓﺈﺫﺍ ﻜﺎﻥ‬
‫ﻫﻨﺎﻙ ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﺍﻟﻘﻴﻤﺔ ﻓﻌﻠﻰ ﺍﻟﺸﺭﻜﺔ ﺃﻥ ﺘﻘﻴﺱ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺒﻤﻘﺎﺭﻨﺔ ﺍﻟﻘﻴﻤـﺔ ﺍﻟﺩﻓﺘﺭﻴـﺔ ﻟﻸﺼـل‬
‫‪ Asset’s Carrying Value‬ﻤﻊ ﻗﻴﻤﺘﻪ ﺍﻟﻌﺎﺩﻟﺔ ‪ ،Fair Value‬ﻭﺇﺫﺍ ﻟﻡ ﻴﻜﻥ ﻫﻨﺎﻙ ﺍﻨﺨﻔﺎﺽ ﻓـﻲ ﺍﻟﻘﻴﻤـﺔ‬
‫ﻓﻌﻨﺩﻫﺎ ﻻ ﻴﻭﺠﺩ ﺃﻱ ﺇﺠﺭﺍﺀ ﻴﺘﺨﺫ ﺇﻨﻤﺎ ﻴ‪‬ﻌﺎﺩ ﺍﻟﻨﻅﺭ ﻓﻘﻁ ﺒﺎﻟﻌﻤﺭ ﺍﻹﻨﺘﺎﺠﻲ ﻟﻸﺼـل ﺇﺫﺍ ﺘﻁﻠـﺏ ﺍﻷﻤـﺭ‪ ،‬ﺃﻤـﺎ‬
‫ﺒﺎﻟﻨﺴﺒﺔ ﻟﻸﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺍﻟﻤﺼﻨﻔﺔ ﻋﻠﻰ ﺃﻨﻪ ﺴﻴﺘﻡ ﺍﻟﺘﺨﻠﺹ ﻤﻨﻬـﺎ )ﺒﻴﻌﻬـﺎ( ‪Held For Disposal‬‬
‫ﻓﻴﺠﺏ ﻋﻨﺩ ﺫﻟﻙ ﻗﻴﺎﺱ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻋﻠﻰ ﺃﺴﺎﺱ ﺍﻟﻤﺒﻠﻎ ﺍﻷﻗل ﻤﻥ ﺒﻴﻥ ﺍﻟﻘﻴﻤـﺔ ﺍﻟﺩﻓﺘﺭﻴـﺔ ‪Carrying‬‬
‫‪ Amount‬ﻭﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ‪ Fair Value‬ﻤﻁﺭﻭﺤ ﹰﺎ ﻤﻨﻬﺎ ﺘﻜﺎﻟﻴﻑ ﺍﻟﺒﻴﻊ ‪ ،16 Selling Costs‬ﻤﻊ ﺍﻹﺸﺎﺭﺓ ﺇﻟﻰ‬
‫ﺃﻨﻪ ﻻ ﻴﺘﻡ ﺤﺴﺎﺏ ﺍﺴﺘﻬﻼﻙ ﻟﻸﺼﻭل ﻤﺎ ﺩﺍﻤﺕ ﻫﻨﺎﻙ ﻨﻴﺔ ﻓﻲ ﺒﻴﻌﻬﺎ‪.‬‬
‫‪17‬‬
‫ﺍﻟﻤﺒﻠﻎ ﺍﻟﺫﻱ ﻴﻤﻜﻥ ﺃﻥ ﻴ‪‬ﺒﺎﻉ ﺃﻭ ﻴ‪‬ﺸﺘﺭﻯ ﺒﻪ ﺍﻷﺼـل‬ ‫ﻭﻴﻌﺭﻑ ﺍﻟﺒﻴﺎﻥ ﺭﻗﻡ ‪ SFAS144‬ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﺒﺄﻨﻬﺎ‬
‫ﻓﻲ ﺍﻟﺘﻌﺎﻤل ﺍﻟﺠﺎﺭﻱ ﺒﻴﻥ ﺃﻁﺭﺍﻑ ﺭﺍﻏﺒﺔ ﺒﺫﻟﻙ‪ ،‬ﻭﻴﺸﺎﺭ ﺇﻟﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻟﻸﺼل ﺒﺸﻜل ﺃﻓﻀـل ﺒﺄﺴـﻌﺎﺭ‬
‫ﺍﻟﺴﻭﻕ ﺍﻟﻤﻌﺭﻭﻀﺔ ﻓﻲ ﺍﻷﺴﻭﺍﻕ ﺍﻟﻨﺸﻴﻁﺔ ﺇﺫﺍ ﻜﺎﻥ ﺫﻟﻙ ﻤﺘﺎﺤ ﹰﺎ‪ ،‬ﻭﺨﻼﻓ ﹰﺎ ﻟﺫﻟﻙ ﻓﺎﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻫـﻲ ﻋﻠـﻰ‬

‫‪13 SFAS144, Para. 7.‬‬

‫‪14 KPMG International, A s s u r a n c e S e r v i c e s. “Implementing IAS Extract from: IAS‬‬
‫‪compared with US GAAP”. www.kpmg.com. Swiss. 2002. P13.‬‬
‫‪15 Revsine, Lawrence, Colline, Daniel W., Johnson, W. Bruce. “Financial Reporting and Analysis”,‬‬
‫‪3rd edition, Prentice Hall, New Jersey, USA, 2005. P527-530.‬‬
‫‪16 PricewaterhouseCoopers. “International Accounting Standards: Similarities and Differences IAS,‬‬
‫‪US GAAP and UK GAAP”. www.pwcglobal.com. England and Wales. September 2001. P46-47.‬‬
‫‪17 SFAS No. 144, Para 22-24.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﺃﺴﺎﺱ ﺃﻓﻀل ﺍﻟﻤﻌﻠﻭﻤﺎﺕ ﺍﻟﻤﺘﺎﺤﺔ ﺤﺴﺏ ﺍﻟﻅﺭﻭﻑ ﻤﺜل ﺃﺴﻌﺎﺭ ﺍﻷﺼﻭل ﺍﻟﻤﺸﺎﺒﻬﺔ ﻭﻨﺘﺎﺌﺞ ﺘﻘﻨﻴﺎﺕ ﺍﻟﺘﻘﻴـﻴﻡ‪،‬‬
‫ﺃﻭ ﺒﺎﺴﺘﺨﺩﺍﻡ ﺘﺤﻠﻴل ﺍﻟﺘﺩﻓﻕ ﺍﻟﻨﻘﺩﻱ ﺍﻟﻤﺨﺼﻭﻡ ﺒﺎﺴﺘﺨﺩﺍﻡ ﺍﻟﺩﻭﻻﺭ ﺍﻻﺴﻤﻲ )ﺍﻟـﺫﻱ ﻴﻌﻜـﺱ ﺍﻟﺘﻀـﺨﻡ( ﺃﻭ‬
‫ﺍﻟﺩﻭﻻﺭ ﺍﻟﺤﻘﻴﻘﻲ )ﺍﻟﺫﻱ ﻴﺘﺠﺎﻫل ﺍﻟﺘﻀﺨﻡ( ﻤﻊ ﻤﻌﺎﻟﺠﺔ ﻤﺼﺭﻭﻑ ﺍﻟﻀﺭﻴﺒﺔ ﻜﺘﺩﻓﻕ ﻨﻘﺩﻱ ﺨﺎﺭﺠﻲ ﻤﻨﻔﺼـل‬
‫ﺃﻭ ﺘﺴﻭﻴﺔ ﻤﻌﺩل ﺍﻟﺨﺼﻡ ﻟﻴﻌﻜﺱ ﻤﺼﺭﻭﻑ ﺍﻟﻀﺭﻴﺒﺔ ﻭﺃﺨﺫ ﺩﺭﺠﺔ ﺍﻟﺨﻁﺭ ﺃﻭ ﺍﻟﺨﺼﻡ ﺒﺎﻟﺤﺴﺒﺎﻥ‪ .‬ﻭﻤﻥ ﺃﺠل‬
‫‪Probability-weighted‬‬ ‫ﻼ ﺍﺤﺘﻤﺎﻟﻴ ﹰﺎ ﻤﺭﺠﺤـ ﹰﺎ‬
‫ﺘﺤﺩﻴﺩ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻋﺭﺽ ﺍﻟﺒﻴﺎﻥ ﺭﻗﻡ ‪ SFAS144‬ﻤﺩﺨ ﹰ‬
‫‪ Approach‬ﻟﺘﻘﺩﻴﺭ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﻋﻨﺩﻤﺎ ﻴﻜﻭﻥ ﻟﺩﻯ ﺍﻹﺩﺍﺭﺓ ﺃﻜﺜﺭ ﻤﻥ ﺨﻴﺎﺭ ﻻﺴﺘﺭﺩﺍﺩ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠـﺔ‬
‫ﻟﻸﺼل‪.‬‬
‫ﻗﻴﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ :Measurement of Impairment Loss‬ﻭﻓﻘ ﹰﺎ ﻟﻠﺒﻴﺎﻥ ﺭﻗﻡ ‪SFAS144‬‬
‫ﺘﻘﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻋﻠﻰ ﺃﺴﺎﺱ ﻤﺒﻠﻎ ﺯﻴﺎﺩﺓ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ‪Asset’s Carrying‬‬
‫‪ Amount‬ﻋﻠﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻷﺼل ‪ Asset’s Fair Value‬ﺴﻭﺍﺀ ﻜﺎﻨﺕ ﻗﻴﻤﺘﻪ ﺍﻟﺴﻭﻗﻴﺔ ‪Market Value‬‬
‫)ﻋﻨﺩ ﺘﻭﺍﻓﺭ ﺴﻭﻕ ﻨﺸﻁ ‪ Active Market‬ﺃﻭ ﺇﺫﺍ ﻜﺎﻥ ﻫﻨﺎﻙ ﻤﻌﻠﻭﻤﺎﺕ ﻤﻭﺜﻭﻗ ﹰﺎ ﺒﻬﺎ ﻋﻥ ﺃﺴﻌﺎﺭ ﺃﺼﻭل‬
‫ﻤﺘﺸﺎﺒﻬﺔ( ﺃﻭ ﻤﺠﻤﻭﻉ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻤﺨﺼﻭﻤﺔ ‪ Discounted Future Cash Flows‬ﺃﻭ‬
‫ﺃﻴﺔ ﺘﻘﻨﻴﺎﺕ ﻤﻘﺒﻭﻟﺔ ﻟﻠﺘﻘﻴﻴﻡ‪ ،‬ﻭﻴﻌﻜﺱ ﻤﻌﺩل ﺍﻟﺨﺼﻡ ﺍﻟﻤﺴﺘﺨﺩﻡ ﺍﻟﻤﺨﺎﻁﺭ ﺍﻟﻤﺭﺘﺒﻁﺔ ﺒﺎﻷﺼل‪ ،‬ﻭﺒﺎﻟﻨﺴﺒﺔ‬
‫ﻟﻸﺼﻭل ﺍﻟﻤﻨﻭﻱ ﺍﻟﺘﺨﻠﺹ ﻤﻨﻬﺎ ‪ Assets To Be Disposed Of‬ﻓﺈﻥ ﺍﻟﺨﺴﺎﺭﺓ ﺍﻟﺘﻲ ﻴﺠﺏ ﺍﻻﻋﺘﺭﺍﻑ ﺒﻬﺎ‬
‫ﻫﻲ ﻤﺒﻠﻎ ﺯﻴﺎﺩﺓ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ‪ Asset’s Carrying Amount‬ﻋﻠﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ‪Fair Value‬‬
‫‪18‬‬
‫)ﻤﻁﺭﻭﺤ ﹰﺎ ﻤﻨﻬﺎ ﻤﺼﺎﺭﻴﻑ ﺍﻟﺒﻴﻊ(‪.‬‬
‫ﻋﻜﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﻻﺤﻘﺔ ‪ :Subsequent Reversal of an Impairment Loss‬ﺃﻱ‬
‫ﻫل ﻴﺠﻭﺯ ﻓﻲ ﻓﺘﺭﺍﺕ ﻤﺎﻟﻴﺔ ﻻﺤﻘﺔ ﺇﻟﻐﺎﺀ ﺍﻷﺜﺭ ﺍﻟﻤﺤﺎﺴﺒﻲ ﻻﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺴﺠل ﻓﻲ ﻓﺘﺭﺍﺕ ﻤﺎﻟﻴﺔ‬
‫ﺴﺎﺒﻘﺔ ﻋﻥ ﻁﺭﻴﻕ ﺇﺠﺭﺍﺀ ﻗﻴﺩ ﻤﺤﺎﺴﺒﻲ )ﻓﻲ ﻓﺘﺭﺓ ﻤﺎﻟﻴﺔ ﻻﺤﻘﺔ( ﻤﻌﺎﻜﺱ ﻟﻠﻘﻴﺩ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﺫﻱ ﺴﺠﻠﺕ ﺒﻪ‬
‫)ﻓﻲ ﻓﺘﺭﺓ ﻤﺎﻟﻴﺔ ﺴﺎﺒﻘﺔ(؟ ﺇﻥ ﻋﻜﺱ ﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻏﻴﺭ ﻤﺴﻤﻭﺡ ﺒﻬﺎ ‪ Prohibited‬ﻭﻓﻘ ﹰﺎ ﻟﺒﻴﺎﻥ‬
‫ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﺒﺎﻟﻨﺴﺒﺔ ﻟﻸﺼﻭل ﺍﻟﻤﻤﻠﻭﻜﺔ ﻟﻼﺤﺘﻔﺎﻅ ﺒﻬﺎ ﺃﻭ ﻟﻼﺴﺘﺨﺩﺍﻡ؛ ﺫﻟﻙ‬
‫ﻷﻥ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺘﺅﺩﻱ ﺇﻟﻰ ﺃﺴﺎﺱ ﺘﻜﻠﻔﺔ ﺠﺩﻴﺩ ﻟﻸﺼل‪ ،19‬ﻓﺘﻌﺩﻴل ﻜل ﻤﻥ ﺍﻟﺯﻴﺎﺩﺍﺕ ﺃﻭ‬
‫ﺍﻻﻨﺨﻔﺎﻀﺎﺕ ﻋﻠﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼﻭل ﺍﻟﻤﻨﻭﻱ ﺍﻟﺘﺨﻠﺹ ﻤﻨﻬﺎ ﻴﺠﺏ ﺃﻥ ﺘﻌﺎﻟﺞ ﻜﺘﺴﻭﻴﺎﺕ ﻓﻲ ﺍﻟﻘﻴﻤﺔ‬
‫ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ﻟﻜﻥ ﺒﺤﺩﻭﺩ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ﺒﺘﺎﺭﻴﺦ ﺍﺘﺨﺎﺫ ﺍﻟﻘﺭﺍﺭ ﺒﺎﻟﺘﺨﻠﺹ ﻤﻨﻪ‪.20‬‬

‫‪18 PricewaterhouseCoopers. “International Accounting Standards: Similarities and Differences IAS,‬‬

‫‪US GAAP and UK GAAP”. www.pwcglobal.com. England and Wales. September 2001. P46-47.‬‬
‫‪19 SFAS No. 144, Para. 15.‬‬
‫‪20 PricewaterhouseCoopers. “International Accounting Standards: Similarities and Differences IAS,‬‬
‫‪US GAAP and UK GAAP”. www.pwcglobal.com. England and Wales. September 2001. P47.‬‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﺏ‪ -‬ﻤﻭﻗﻑ ﺍﻟﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﺍﻟﺩﻭﻟﻴﺔ‪:‬‬

‫ﻴﺘﻔﻕ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﻤﻊ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﻋﻠﻰ‬
‫ﻼ ﻋﻥ ﻀﺭﻭﺭﺓ‬
‫ﻀﺭﻭﺭﺓ ﺇﺜﺒﺎﺕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻜﻤﺼﺭﻭﻑ ﻀﻤﻥ ﻗﺎﺌﻤﺔ ﺍﻟﺩﺨل‪ ،‬ﻓﻀ ﹰ‬
‫ﺘﻭﺍﻓﺭ ﻤﺅﺸﺭﺍﺕ ﺘﺸﻴﺭ ﺇﻟﻰ ﺍﺤﺘﻤﺎل ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻤﺸﺎﺒﻬﺔ ﻟﻠﻤﺅﺸﺭﺍﺕ‬
‫ﺍﻟﻤﻨﺼﻭﺹ ﻋﻠﻴﻬﺎ ﻓﻲ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﺍﻟﻤﺫﻜﻭﺭﺓ ﺃﻋﻼﻩ‪.‬‬
‫ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ :Impairment Loss Recognition‬ﻨﺹ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ‬
‫ﺭﻗﻡ ‪ IAS36‬ﻋﻠﻰ ﺃﻨﻪ ﻴﺠﺏ ﻋﻠﻰ ﺍﻹﺩﺍﺭﺓ ﺃﻥ ﺘﻘﻴﻡ ﻓﻲ ﺘﺎﺭﻴﺦ ﻜل ﻤﻴﺯﺍﻨﻴﺔ ﻋﻤﻭﻤﻴﺔ ﻫل ﻜﺎﻥ ﻫﻨﺎﻙ ﺃﻱ ﺩﻟﻴل‬
‫ﻼ ﺜﺎﺒﺘ ﹰﺎ ﻤﻥ ﺍﻟﻤﻤﻜﻥ ﺃﻥ ﻴﻜﻭﻥ ﻗﺩ ﺍﻨﺨﻔﻀﺕ ﻗﻴﻤﺘﻪ‪ ،‬ﻭﺤﺴﺏ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ‬
‫ﻋﻠﻰ ﺃﻥ ﺃﺼ ﹰ‬
‫‪ ،IAS36‬ﻴﺠﺏ ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﻗﺎﺌﻤﺔ ﺍﻟﺩﺨل ﻋﻨﺩﻤﺎ ﻴﺘﺠﺎﻭﺯ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺤﻤل ﻟﻸﺼل‬
‫‪) Asset’s Carrying Amount‬ﺃﻭ ﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ‪ (Cash Generating Unit’s‬ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل‬
‫ﻟﻼﺴﺘﺭﺩﺍﺩ ‪ ،21 Recoverable Amount‬ﻭﻴﻌﺭﻑ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺤﻤل‬
‫ﻟﻸﺼل ﺒﺄﻨﻪ ﺍﻟﻤﺒﻠﻎ ﺍﻟﺫﻱ ﻴﻌﺘﺭﻑ ﺒﻪ ﻟﻸﺼل ﻓﻲ ﺍﻟﻤﻴﺯﺍﻨﻴﺔ ﺍﻟﻌﻤﻭﻤﻴﺔ ﺒﻌﺩ ﺨﺼﻡ ﺃﻱ ﺍﺴﺘﻬﻼﻙ ﻤﺘﺭﺍﻜﻡ‬
‫‪23‬‬
‫ﺃﺼﻐﺭ ﻤﺠﻤﻭﻋﺔ ﻤﻥ ﺍﻷﺼﻭل ﺍﻟﻘﺎﺒﻠﺔ‬ ‫ﻭﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺘﺭﺍﻜﻤﺔ‪ ،22‬ﺃﻤﺎ ﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ﻓﻬﻲ‬
‫ﻟﻠﺘﺤﺩﻴﺩ ﺍﻟﺘﻲ ﺘﻭﻟﺩ ﺘﺩﻓﻘﺎﺕ ﻨﻘﺩﻴﺔ ﺩﺍﺨﻠﺔ ﻤﻥ ﺍﻻﺴﺘﻌﻤﺎل ﺍﻟﻤﺴﺘﻤﺭ ﻭﺍﻟﺘﻲ ﻫﻲ ﻤﺴﺘﻘﻠﺔ ﺇﻟﻰ ﺤﺩ ﻜﺒﻴﺭ ﻋﻥ‬
‫ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﺩﺍﺨﻠﺔ ﺍﻟﻨﺎﺠﻤﺔ ﻋﻥ ﺍﻟﻤﻭﺠﻭﺩﺍﺕ ﺍﻷﺨﺭﻯ )ﺃﻭ ﻤﺠﻤﻭﻋﺔ ﺍﻟﻤﻭﺠﻭﺩﺍﺕ(‪ ،‬ﻭ ‪‬ﻴﻌﺭﻑ ﺍﻟﻤﺒﻠﻎ‬
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‫ﺼﺎﻓﻲ ﺴﻌﺭ ﺍﻟﺒﻴﻊ ﻟﻸﺼل ﺃﻭ ﻗﻴﻤﺘﻪ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ )ﺍﻟﻤﺴﺘﺨﺩﻤﺔ( ﺃﻴﻬﻤﺎ ﺃﻋﻠﻰ‪،‬‬ ‫ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﺒﺄﻨﻪ‬
‫ﻓﺎﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﻫﻲ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺤﺎﻟﻴﺔ ﻟﻠﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻤﻘﺩﺭﺓ ﺍﻟﺘﻲ ﻴﺘﻭﻗﻊ ﺃﻥ ﺘﻨﺸﺄ ﻤﻥ‬
‫ﺍﻻﺴﺘﻌﻤﺎل ﺍﻟﻤﺴﺘﻤﺭ ﻷﺼل ﻭﻤﻥ ﺍﻻﺴﺘﺒﻌﺎﺩ ﻓﻲ ﻨﻬﺎﻴﺔ ﻋﻤﺭﻩ ﺍﻟﻨﺎﻓﻊ‪ ،‬ﺃﻤﺎ ﺼﺎﻓﻲ ﺴﻌﺭ ﺍﻟﺒﻴﻊ ﻓﻬﻭ ﺍﻟﻤﺒﻠﻎ‬
‫ﻁﻠﻌﺔ ﻭﺭﺍﻏﺒﺔ ﻨﺎﻗﺼ ﹰﺎ‬
‫ﺍﻟﺫﻱ ﻴﻤﻜﻥ ﺍﻟﺤﺼﻭل ﻋﻠﻴﻪ ﻤﻥ ﺍﺴﺘﺒﻌﺎﺩ ﺃﺼل ﻓﻲ ﻋﻤﻠﻴﺔ ﺘﺠﺎﺭﻴﺔ ﺒﺤﺘﺔ ﺒﻴﻥ ﺃﻁﺭﺍﻑ ﻤ ﹼ‬
‫ﺘﻜﺎﻟﻴﻑ ﺍﻻﺴﺘﺒﻌﺎﺩ‪ ،‬ﻭﺘﻤﺜل ﺘﻜﺎﻟﻴﻑ ﺍﻟﺘﺼﺭﻑ ﺍﻟﺘﻜﺎﻟﻴﻑ ﺍﻹﻀﺎﻓﻴﺔ ﺍﻟﺘﻲ ﺘﻌﺯﻯ ﺒﺸﻜل ﻤﺒﺎﺸﺭ ﻟﻠﺘﺼﺭﻑ ﻓﻲ‬
‫ﺃﺼل‪ ،‬ﺒﺎﺴﺘﺜﻨﺎﺀ ﺘﻜﺎﻟﻴﻑ ﺍﻟﺘﻤﻭﻴل ﻭﻤﺼﺭﻭﻑ ﻀﺭﻴﺒﺔ ﺍﻟﺩﺨل‪.‬‬
‫ﻭﻴﻭﺠﺩ ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺇﺫﺍ ﻜﺎﻨﺕ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ‪Asset's Carrying‬‬
‫‪ Amount‬ﺘﺘﺠﺎﻭﺯ ﺍﻷﻜﺒﺭ ﻤﻥ‪ :‬ﺇﻤﺎ ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﻟﻸﺼل ‪) Asset’s Value-In-Use‬ﺍﻟﻘﻴﻤﺔ ﺍﻟﺤﺎﻟﻴﺔ‬
‫‪Discounted Present Value Of The‬‬ ‫ﻟﻠﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻤﺘﻭﻗﻌﺔ ﻤﻥ ﺘﺸﻐﻴل ﺍﻷﺼل‬

‫‪21 PricewaterhouseCoopers. “International Accounting Standards: Similarities and Differences IAS,‬‬

‫‪US GAAP and UK GAAP”. www.pwcglobal.com. England and Wales. September 2001. P46-47.‬‬
‫‪22 IAS36, Para. 5.‬‬
‫‪23 IAS36, Para. 5.‬‬
‫‪24 IAS36, Para. 5.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫‪ ،(Asset’s Expected Future Cash Flows‬ﺃﻭ ﺴﻌﺭ ﺍﻟﺒﻴﻊ ﺍﻟﺼﺎﻓﻲ ‪ ،Net Selling Price‬ﻭﻴﺠﺏ‬
‫ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻜﻤﺼﺭﻭﻑ ﻓﻲ ﻗﺎﺌﻤﺔ ﺍﻟﺩﺨل ﻓﻭﺭﹰﺍ ﻋﻨﺩﻤﺎ ﺘﺘﺠﺎﻭﺯ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ‬
‫ﻟﻸﺼل ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‪ ،25‬ﻭﺒﻌﺩ ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻴﺠﺏ ﺘﻌﺩﻴل ﻤﺒﻠﻎ ﺍﺴﺘﻬﻼﻙ‬
‫ﺍﻷﺼل ﻓﻲ ﺍﻟﻔﺘﺭﺍﺕ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﻟﺘﺨﺼﻴﺹ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺭﺤل ﺍﻟﻤﻌﺩل ﻟﻸﺼل ﻨﺎﻗﺼ ﹰﺎ ﻗﻴﻤﺘﻪ ﺍﻟﻤﺘﺒﻘﻴﺔ )ﺇﻥ‬
‫ﻭﺠﺩﺕ( ﻋﻠﻰ ﺃﺴﺎﺱ ﻤﻨﺘﻅﻡ ﻋﻠﻰ ﻤﺩﻯ ﻋﻤﺭﻩ ﺍﻹﻨﺘﺎﺠﻲ ﺍﻟﻤﺘﺒﻘﻲ‪.26‬‬
‫ﺇﺫﺍ ﻜﺎﻨﺕ ﻫﻨﺎﻙ ﺃﻴﺔ ﺩﻻﻟﺔ ﻋﻠﻰ ﺃﻥ ﻗﻴﻡ ﺃﺼل ﻗﺩ ﺘﻨﺨﻔﺽ ﻓﺈﻨﻪ ﻴﺠﺏ ﺘﻘﻴﻴﻡ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻟﻸﺼل‬
‫ﺍﻟﻤﻔﺭﺩ‪ ،‬ﻭﺇﺫﺍ ﻟﻡ ﻴﻜﻥ ﻤﻥ ﺍﻟﻤﻤﻜﻥ ﺘﻘﺩﻴﺭ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻟﻸﺼل ﺍﻟﻤﻔﺭﺩ ﻓﺈﻨﻪ ﻴﺠﺏ ﻋﻠﻰ ﺍﻟﻤﺸﺭﻭﻉ‬
‫ﺘﺤﺩﻴﺩ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻟﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ﺍﻟﺘﻲ ﻴﻨﺘﻤﻲ ﺇﻟﻴﻬﺎ ﺍﻷﺼل )ﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ﻟﻸﺼل(‪،27‬‬
‫ﺤﻴﺙ ﻻ ﻴﻤﻜﻥ ﺘﺤﺩﻴﺩ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻷﺼل ﻤﻔﺭﺩ ﻓﻲ ﺍﻟﺤﺎﻻﺕ ﺍﻵﺘﻴﺔ‪:28‬‬
‫ﻋﺩﻡ ﺇﻤﻜﺎﻨﻴﺔ ﺘﻘﺩﻴﺭ ﻗﻴﻤﺔ ﺍﻷﺼل ﺍﻟﻤﺴﺘﻌﻤﻠﺔ )ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﻤﻥ ﺍﻻﺴﺘﻌﻤﺎل ﺍﻟﻤﺴﺘﻤﺭ(‪.‬‬ ‫ﺃ‪-‬‬
‫ﻋﺩﻡ ﺇﻤﻜﺎﻨﻴﺔ ﻓﺼل ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﺩﺍﺨﻠﺔ ﻟﻸﺼل ﻋﻥ ﺃﺼﻭل ﺃﺨﺭﻯ )ﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ﻟﻸﺼل(‬ ‫ﺏ‪-‬‬
‫ﻭﻫﺫﻩ ﺍﻟﺤﺎﻟﺔ ﺸﺒﻴﻬﺔ ﺒﺤﺎﻟﺔ ﺍﻟﺴﻜﺔ ﺍﻟﺤﺩﻴﺩﻴﺔ ﻓﻲ ﺸﺭﻜﺔ ﺍﻟﺘﻌﺩﻴﻥ ﺍﻟﺘﻲ ﺘﺭﺘﺒﻁ ﺘﺩﻓﻘﺎﺘﻬﺎ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﺩﺍﺨﻠﺔ‬
‫ﻤﻥ ﺍﻻﺴﺘﻌﻤﺎل ﺍﻟﻤﺴﺘﻤﺭ ﻤﻊ ﺍﻟﻤﻭﺠﻭﺩﺍﺕ ﺍﻷﺨﺭﻯ ﻟﻠﻤﻨﺠﻡ‪ ،‬ﻭﻟﺫﻟﻙ ﻴﻘﺩﺭ ﺍﻟﻤﺸﺭﻭﻉ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻘﺎﺒﻠﺔ‬
‫ﻟﻼﺴﺘﺭﺩﺍﺩ ﻟﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ ﺍﻟﺘﻲ ﺘﻨﺘﻤﻲ ﺇﻟﻴﻬﺎ ﺴﻜﺔ ﺍﻟﺤﺩﻴﺩ ﺍﻟﺨﺎﺼﺔ‪ ،‬ﺃﻱ ﺍﻟﻤﻨﺠﻡ ﻜﻜل‪.‬‬
‫ﻗﻴﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ :Measurement of Impairment Loss‬ﻭﻓﻘ ﹰﺎ ﻟﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ‬
‫‪Recoverable‬‬ ‫ﺭﻗﻡ ‪ IAS36‬ﺘﻘﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻋﻠﻰ ﺃﺴﺎﺱ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‬
‫‪ Amount‬ﺃﻱ ﺍﻟﻔﺭﻕ ﺒﻴﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ‪) Asset’s Carrying Amount‬ﺍﻷﺼل ﺍﻟﻤﻔﺭﺩ ﺃﻭ ﻭﺤﺩﺓ‬
‫ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ( ﻭﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‪ ،‬ﻭﻴﻤﺜل ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﺴﻌﺭ ﺍﻟﺒﻴﻊ ﺍﻟﺼﺎﻓﻲ ﻟﻸﺼل ‪Net‬‬
‫‪ Selling Price‬ﺃﻭ ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ‪ Asset’s Value-In-Use‬ﺃﻴﻬﻤﺎ ﺃﻋﻠﻰ‪ ،‬ﻭﺘﻤﺜل ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ‬
‫ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﺘﻲ ﺴﻴﺘﻡ ﺍﻟﺤﺼﻭل ﻋﻠﻴﻬﺎ ﻤﻥ ﺍﻷﺼل ﻭﺍﻟﻤﺨﺼﻭﻤﺔ ﺇﻟﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺤﺎﻟﻴﺔ‬
‫ﺒﺎﺴﺘﺨﺩﺍﻡ ﺍﻟﻤﻌﺩل ﺍﻟﻤﺤﺩﺩ ﻓﻲ ﺍﻟﺴﻭﻕ ﻭﺫﻟﻙ ﻗﺒل ﺍﻟﻀﺭﻴﺒﺔ‪ ،‬ﻭﺍﻟﺘﻲ ﺘﻌﻜﺱ ﺍﻟﺘﻘﻴﻴﻡ ﺍﻟﺠﺎﺭﻱ ﻟﻠﻘﻴﻤﺔ ﺍﻟﺯﻤﻨﻴﺔ‬
‫ﻟﻠﻨﻘﻭﺩ ﻭﺍﻟﻤﺨﺎﻁﺭ ﺍﻟﺨﺎﺼﺔ ﺒﺎﻷﺼل‪.29‬‬
‫ﺃﻤﺎ ﺇﺫﺍ ﺯﺍﺩ ﺃﻱ ﻤﻥ ﺼﺎﻓﻲ ﺴﻌﺭ ﺒﻴﻊ ﺍﻷﺼل ﺃﻭ ﻗﻴﻤﺘﻪ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﻋﻠﻰ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺭﺤل ﻟﻸﺼل ﻓﺈﻥ ﺍﻷﺼل‬
‫ﻻ ﺘﻨﺨﻔﺽ ﻗﻴﻤﺘﻪ‪ ،‬ﻭﺇﺫﺍ ﻟﻡ ﺘﺘﻭﺍﻓﺭ ﺴﻭﻕ ﻨﺸﻁﺔ ﻟﻸﺼل ﻓﺈﻥ ﻤﺒﻠﻎ ﺍﻷﺼل ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻫﻭ ﻗﻴﻤﺘﻪ‬

‫‪25 IAS36, Para. 58.‬‬

‫‪26 IAS36, Para. 62.‬‬
‫‪27 IAS36, Para. 65.‬‬
‫‪28 IAS36, Para. 66.‬‬
‫‪29 PricewaterhouseCoopers. “International Accounting Standards: Similarities and Differences IAS,‬‬
‫‪US GAAP and UK GAAP”. www.pwcglobal.com. England and Wales. September 2001. P47.‬‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﺫﺍﺘﻬﺎ‪ ،‬ﻭﺇﺫﺍ ﻜﺎﻥ ﺍﻷﺼل ﻤﺤﺘﻔﻅ ﹰﺎ ﺒﻪ ﻻﺴﺘﺒﻌﺎﺩﻩ‪ ،‬ﻓﺈﻥ ﻤﺒﻠﻎ ﺍﻷﺼل ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻫﻭ ﺼﺎﻓﻲ‬
‫ﺴﻌﺭ ﺒﻴﻊ ﺍﻷﺼل ﻷﻥ ﻗﻴﻤﺘﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﺴﺘﺘﻜﻭﻥ ﺒﺸﻜل ﺭﺌﻴﺴﻲ ﻤﻥ ﺼﺎﻓﻲ ﻋﺎﺌﺩﺍﺕ ﺍﻟﺒﻴﻊ ﺇﺫ ﻤﻥ ﺍﻟﻤﺤﺘﻤل‬
‫ﺃﻥ ﺘﻜﻭﻥ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﻤﻥ ﺍﻻﺴﺘﻌﻤﺎل ﺍﻟﻤﺴﺘﻤﺭ ﻟﻸﺼل ﺇﻟﻰ ﺃﻥ ﻴﺘﻡ ﺍﺴﺘﺒﻌﺎﺩﻩ ﻀﺌﻴﻠﺔ‪.30‬‬
‫ﻋﻜﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﻻﺤﻘﺔ ‪:Subsequent Reversal of an Impairment Loss‬‬
‫ﻭﻓﻘ ﹰﺎ ﻟﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﻓﻘﺩ ﻁﻠﺏ ﻋﻜﺱ )ﺇﻋﺎﺩﺓ ﺘﺴﺠﻴﻠﻬﺎ ﺒﺸﻜل ﻤﻌﺎﻜﺱ ﻹﻟﻐﺎﺀ ﺃﺜﺭﻫﺎ(‬
‫ﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻋﻨﺩﻤﺎ ﺘﺘﻐﻴﺭ ﺍﻟﺸﺭﻭﻁ ﻭﺍﻟﻅﺭﻭﻑ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﺍﺴﺘﺨﺩﺍﻡ ﺍﻷﺼل‬
‫ﺍﻟﻼﺤﻘﺔ‪.31‬‬
‫ﻓﻌﻨﺩ ﻭﺠﻭﺩ ﺃﻴﺔ ﺃﺩﻟﺔ ﻋﻠﻰ ﺃﻨﻪ ﻟﻡ ﺘﻌﺩ ﺘﻭﺠﺩ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺃﺼل ﺘﻡ ﺍﻻﻋﺘﺭﺍﻑ ﺒﻬﺎ ﻓﻲ ﺍﻟﺴﻨﻭﺍﺕ‬
‫ﺍﻟﺴﺎﺒﻘﺔ ﻤﻥ ﺨﻼل ﻤﺼﺎﺩﺭ ﺍﻟﻤﻌﻠﻭﻤﺎﺕ ﺍﻟﺨﺎﺭﺠﻴﺔ ﻜﺯﻴﺎﺩﺓ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺴﻭﻗﻴﺔ ﻟﻸﺼل ﺇﻟﻰ ﺤﺩ ﻜﺒﻴﺭ ﺨﻼل‬
‫ﺍﻟﻔﺘﺭﺓ‪ ،‬ﺃﻭ ﺤﺩﻭﺙ ﺘﻐﻴﺭﺍﺕ ﻤﻬﻤﺔ ﺤﺎﻟﻴﺔ ﺃﻭ ﻤﺘﻭﻗﻌﺔ ﻓﻲ ﺍﻟﺒﻴﺌﺔ ﺍﻟﺘﻘﻨﻴﺔ ﺃﻭ ﺍﻟﺴﻭﻗﻴﺔ ﺃﻭ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺃﻭ‬
‫ﺍﻟﻘﺎﻨﻭﻨﻴﺔ ﺍﻟﺘﻲ ﻴﻌﻤل ﺒﻬﺎ ﺍﻟﻤﺸﺭﻭﻉ ﺃﻭ ﻓﻲ ﺍﻟﺴﻭﻕ ﺍﻟﺫﻱ ﻴﻨﺘﻤﻲ ﻟﻪ ﺍﻷﺼل‪ ،‬ﺃﻭ ﺍﻨﺨﻔﻀﺕ ﺃﺴﻌﺎﺭ ﺍﻟﻔﺎﺌﺩﺓ‬
‫ﻓﻲ ﺍﻟﺴﻭﻕ ﺃﻭ ﺃﺴﻌﺎﺭ ﺍﻟﻌﻭﺍﺌﺩ ﺍﻷﺨﺭﻯ ﻓﻲ ﺍﻟﺴﻭﻕ ﺨﻼل ﺍﻟﻔﺘﺭﺓ‪ ،‬ﺃﻭ ﻤﻥ ﺨﻼل ﻤﺼﺎﺩﺭ ﺍﻟﻤﻌﻠﻭﻤﺎﺕ ﺍﻟﺩﺍﺨﻠﻴﺔ‬
‫ﻜﺤﺩﻭﺙ ﺘﻐﻴﺭﺍﺕ ﻤﻬﻤﺔ ﺤﺎﻟﻴﺔ ﺃﻭ ﻤﺘﻭﻗﻌﺔ ﺒﺄﺴﻠﻭﺏ ﺍﺴﺘﻌﻤﺎل ﺍﻷﺼل ﺃﻭ ﺘﺤﺴﻴﻨﻪ ﻭﺘﻁﻭﻴﺭﻩ ﺃﻭ ﺘﻭﺍﻓﺭ ﺍﻷﺩﻟﺔ‬
‫ﻤﻥ ﺍﻟﺘﻘﺎﺭﻴﺭ ﺍﻟﺩﺍﺨﻠﻴﺔ ﻋﻠﻰ ﺃﻥ ﺍﻷﺩﺍﺀ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻟﻸﺼل ﺃﻓﻀل ﻤﻤﺎ ﻫﻭ ﻤﺘﻭﻗﻊ ﺃﻭ ﺴﻴﻜﻭﻥ ﻜﺫﻟﻙ‪.32‬‬
‫ﻭﻴﺠﺏ ﻋﻜﺱ ﺨﺴﺎﺭﺓ ﺍﻻﻨﺨﻔﺎﺽ ﺍﻟﻤﻌﺘﺭﻑ ﺒﻬﺎ ﻷﺼل ﻓﻲ ﺍﻟﺴﻨﻭﺍﺕ ﺍﻟﺴﺎﺒﻘﺔ ﻓﻘﻁ ﺇﺫﺍ ﻜﺎﻥ ﻫﻨﺎﻙ ﺘﻐﻴﺭ ﻓﻲ‬
‫ﺍﻟﺘﻘﺩﻴﺭﺍﺕ ﺍﻟﻤﺴﺘﺨﺩﻤﺔ ﻟﺘﺤﺩﻴﺩ ﻤﺒﻠﻎ ﺍﻷﺼل ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻤﻨﺫ ﺍﻻﻋﺘﺭﺍﻑ ﺒﺂﺨﺭ ﺨﺴﺎﺭﺓ ﻓﻲ ﺍﻨﺨﻔﺎﺽ‬
‫ﺍﻟﻘﻴﻤﺔ‪ ،‬ﻭﺇﺫﺍ ﻜﺎﻨﺕ ﺍﻟﺤﺎﻟﺔ ﻜﺫﻟﻙ ﺘﺠﺏ ﺯﻴﺎﺩﺓ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻤﺭﺤل ﻟﻸﺼل ﺇﻟﻰ ﻤﺒﻠﻐﻪ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‪ ،‬ﻭﻫﺫﻩ‬
‫ﺍﻟﺯﻴﺎﺩﺓ ﻫﻲ ﻋﻜﺱ ﻟﺨﺴﺎﺭﺓ ﺍﻻﻨﺨﻔﺎﺽ‪.33‬‬
‫ﺇ ﹼﻻ ﺃﻥ ﻤﺠﻠﺱ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﺍﻗﺘﺭﺡ ﻤﺅﺨﺭﹰﺍ ﺭﺃﻴ ﹰﺎ ﺒﻌﺩﻡ ﺍﻟﺴﻤﺎﺡ ﻟﻠﺸﺭﻜﺎﺕ ﺒﻌﻜﺱ ﺨﺴﺎﺌﺭ‬
‫ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻟﻔﺘﺭﺍﺕ ﻻﺤﻘﺔ ﺍﻟﺨﺎﺼﺔ ﺒﺸﻬﺭﺓ ﺍﻟﻤﺤل‪ ،‬ﻤﻊ ﺇﺒﻘﺎﺀ ﻋﻜﺱ ﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ‬
‫ﻓﺘﺭﺍﺕ ﻻﺤﻘﺔ ﻤﺴﻤﻭﺤ ﹰﺎ ﺒﻪ ﺒﺎﻟﻨﺴﺒﺔ ﻟﺒﻘﻴﺔ ﺍﻷﺼﻭل‪.34‬‬

‫‪30 IAS36, Para. 15-18.‬‬

‫‪31 IAS No. 36. Para. 95-108.‬‬
‫‪32 IAS36, Para. 96.‬‬
‫‪33 IAS36, Para. 99.‬‬
‫‪34 Deloitte Touche Tohmatsu. Comparison of IAS and US GAAP.. 2003. P16‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﺝ‪ -‬ﻤﻘﺎﺭﻨﺔ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ‪ SFAS144‬ﻤﻊ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ‬
‫‪ IAS36‬ﺍﻟﻤﺘﻌﻠﻘﻴﻥ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل‪:‬‬
‫ﻥ ﺍﻟﻤﻘﺎﺭﻨﺔ ﺒﻴﻥ ﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻤﺭﻴﻜﻲ ‪ SFAS144‬ﻭﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ‪IAS36‬‬
‫ﺇ‪‬‬
‫ﺍﻟﻤﺘﻌﻠﻘﻴﻥ ﺒﺎﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﺘﺸﻴﺭ ﺇﻟﻰ ﺍﺘﻔﺎﻗﻬﻤﺎ ﻋﻠﻰ ﻀﺭﻭﺭﺓ ﺇﺜﺒﺎﺕ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ‬
‫ﺍﻷﺠل ﻜﻤﺼﺭﻭﻑ ﻀﻤﻥ ﻗﺎﺌﻤﺔ ﺍﻟﺩﺨل‪ ،‬ﻭﻀﺭﻭﺭﺓ ﺘﻭﺍﻓﺭ ﻤﺅﺸﺭﺍﺕ ﺘﺸﻴﺭ ﺇﻟﻰ ﺍﺤﺘﻤﺎل ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﻓﻲ‬
‫ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪ .‬ﻜﻤﺎ ﺘﺸﻴﺭ ﺍﻟﻤﻘﺎﺭﻨﺔ ﺇﻟﻰ ﻭﺠﻭﺩ ﻋﺩﺓ ﺍﺨﺘﻼﻓﺎﺕ ﻴﻤﻜﻥ ﻋﺭﻀﻬﺎ ﻀﻤﻥ ﺍﻟﺒﻨﻭﺩ‬
‫ﺍﻵﺘﻴﺔ‪:‬‬
‫• ﺍﻻﻋﺘﺭﺍﻑ ﺒﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ :Impairment Loss Recognition‬ﻴﻭﺠﺩ ﺍﻨﺨﻔﺎﺽ ﺤﺴﺏ ﺍﻟﺒﻴﺎﻥ‬
‫ﺭﻗﻡ ‪ SFAS144‬ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﺇﺫﺍ ﺘﺠﺎﻭﺯﺕ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ‬
‫ﻥ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ‬
‫ﺍﻟﻤﺘﻭﻗﻌﺔ )ﻏﻴﺭ ﺍﻟﻤﺨﺼﻭﻤﺔ(‪ ،‬ﺃﻤﺎ ﻭﻓﻘ ﹰﺎ ﻟﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﻓﺈ ‪‬‬
‫ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻴﻭﺠﺩ ﺇﺫﺍ ﻜﺎﻨﺕ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل ﺘﺘﺠﺎﻭﺯ ﺍﻷﻜﺒﺭ ﻤﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ‬
‫ﻟﻸﺼل )ﺍﻟﻘﻴﻤﺔ ﺍﻟﺤﺎﻟﻴﺔ ﻟﻠﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻤﺘﻭﻗﻌﺔ ﻤﻥ ﺘﺸﻐﻴل ﺍﻷﺼل ﺃﻭ ﺴﻌﺭ ﺍﻟﺒﻴﻊ‬
‫ﺍﻟﺼﺎﻓﻲ‪.‬‬
‫• ﻗﻴﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ‪ : Measurement of Impairment Loss‬ﻭﺘﻘﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ‬
‫‪Asset’s‬‬ ‫ﺍﻟﻘﻴﻤﺔ ﻭﻓﻘ ﹰﺎ ﻟﻠﺒﻴﺎﻥ ﺭﻗﻡ ‪ SFAS144‬ﻋﻠﻰ ﺃﺴﺎﺱ ﻤﺒﻠﻎ ﺯﻴﺎﺩﺓ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل‬
‫‪ Carrying Amount‬ﻋﻠﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ ﻟﻸﺼل ﺴﻭﺍﺀ ﻜﺎﻨﺕ ﻗﻴﻤﺘﻪ ﺍﻟﺴﻭﻗﻴﺔ )ﻋﻨﺩ ﺘﻭﺍﻓﺭ ﺴﻭﻕ ﻨﺸﻁ‬
‫ﺃﻭ ﺇﺫﺍ ﻜﺎﻥ ﻫﻨﺎﻙ ﻤﻌﻠﻭﻤﺎﺕ ﻤﻭﺜﻭﻗ ﹰﺎ ﺒﻬﺎ ﻋﻥ ﺃﺴﻌﺎﺭ ﺃﺼﻭل ﻤﺘﺸﺎﺒﻬﺔ( ﺃﻭ ﻤﺠﻤﻭﻉ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ‬
‫ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ ﺍﻟﻤﺨﺼﻭﻤﺔ ﺃﻭ ﺃﻴﺔ ﺘﻘﻨﻴﺎﺕ ﻤﻘﺒﻭﻟﺔ ﻟﻠﺘﻘﻴﻴﻡ‪ ،‬ﻭﻴﻌﻜﺱ ﻤﻌﺩل ﺍﻟﺨﺼﻡ ﺍﻟﻤﺴﺘﺨﺩﻡ ﺍﻟﻤﺨﺎﻁﺭ‬
‫ﺍﻟﻤﺭﺘﺒﻁﺔ ﺒﺎﻷﺼل‪ ،‬ﺃﻤﺎ ﻤﻌﻴﺎﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﻓﻨﺹ ﻋﻠﻰ ﺃﻥ ﺘﻘﺎﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ‬
‫ﺍﻟﻘﻴﻤﺔ ﻋﻠﻰ ﺃﺴﺎﺱ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﺃﻱ ﺍﻟﻔﺭﻕ ﺒﻴﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺩﻓﺘﺭﻴﺔ ﻟﻸﺼل )ﺍﻷﺼل ﺍﻟﻤﻔﺭﺩ ﺃﻭ‬
‫ﻭﺤﺩﺓ ﺘﻭﻟﻴﺩ ﺍﻟﻨﻘﺩ( ﻭﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‪ ،‬ﻭﻴﻤﺜل ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﺴﻌﺭ ﺍﻟﺒﻴﻊ ﺍﻟﺼﺎﻓﻲ‬
‫ﻟﻸﺼل ﺃﻭ ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﺃﻴﻬﻤﺎ ﺃﻋﻠﻰ‪ ،‬ﻭﺘﻤﺜل ﺍﻟﻘﻴﻤﺔ ﺍﻻﺴﺘﻌﻤﺎﻟﻴﺔ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ‬
‫ﺍﻟﺘﻲ ﺴﻴﺘﻡ ﺍﻟﺤﺼﻭل ﻋﻠﻴﻬﺎ ﻤﻥ ﺍﻷﺼل ﻭﺍﻟﻤﺨﺼﻭﻤﺔ ﺇﻟﻰ ﺍﻟﻘﻴﻤﺔ ﺍﻟﺤﺎﻟﻴﺔ ﺒﺎﺴﺘﺨﺩﺍﻡ ﺍﻟﻤﻌﺩل ﺍﻟﻤﺤﺩﺩ ﻓﻲ‬
‫ﺍﻟﺴﻭﻕ ﻭﺫﻟﻙ ﻗﺒل ﺍﻟﻀﺭﻴﺒﺔ‪ ،‬ﻭﺍﻟﺘﻲ ﺘﻌﻜﺱ ﺍﻟﺘﻘﻴﻴﻡ ﺍﻟﺠﺎﺭﻱ ﻟﻠﻘﻴﻤﺔ ﺍﻟﺯﻤﻨﻴﺔ ﻟﻠﻨﻘﻭﺩ ﻭﺍﻟﻤﺨﺎﻁﺭ ﺍﻟﺨﺎﺼﺔ‬
‫ﺒﺎﻷﺼل‪.‬‬
‫• ﻋﻜﺱ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﻻﺤﻘﺔ ‪:Subsequent Reversal of an Impairment Loss‬‬
‫ﺇﻥ ﻋﻜﺱ ﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﻻﺤﻘﺔ ﻏﻴﺭ ﻤﺴﻤﻭﺡ ﺒﻬﺎ ﻭﻓﻘ ﹰﺎ ﻟﺒﻴﺎﻥ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﻤﺎﻟﻴﺔ‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﺍﻷﻤﺭﻴﻜﻲ ﺭﻗﻡ ‪ SFAS144‬ﺒﺎﻟﻨﺴﺒﺔ ﻟﻸﺼﻭل ﺍﻟﻤﻤﻠﻭﻜﺔ ﻟﻼﺤﺘﻔﺎﻅ ﺒﻬﺎ ﺃﻭ ﻟﻼﺴﺘﺨﺩﺍﻡ‪ ،‬ﺃﻤﺎ ﻭﻓﻘ ﹰﺎ ﻟﻤﻌﻴﺎﺭ‬
‫ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻲ ﺭﻗﻡ ‪ IAS36‬ﻓﻘﺩ ﻁﻠﺏ ﻋﻜﺱ ﺨﺴﺎﺌﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻋﻨﺩﻤﺎ ﺘﺘﻐﻴﺭ ﺍﻟﺸﺭﻭﻁ‬
‫ﻭﺍﻟﻅﺭﻭﻑ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻓﻲ ﻓﺘﺭﺍﺕ ﺍﺴﺘﺨﺩﺍﻡ ﺍﻷﺼل ﺍﻟﻼﺤﻘﺔ‪.‬‬

‫‪:Empirical Study‬‬ ‫ﺍﻟﺩﺭﺍﺴﺔ ﺍﻟﺘﺠﺭﻴﺒﻴﺔ‬ ‫‪.6‬‬

‫ﺍﻟﻌﻴﻨﺔ ﺤﺠﻤﻬﺎ ﻭﻁﺒﻴﻌﺘﻬﺎ ﻭﻁﺭﻴﻘﺔ ﺍﻟﺩﺭﺍﺴﺔ ﺍﻹﺤﺼﺎﺌﻴﺔ‪:‬‬

‫ﺍﻋﺘﻤﺩ ﺍﻻﺴﺘﺒﻴﺎﻥ ﻋﻠﻰ ﻤﺠﻤﻭﻋﺔ ﻤﻥ ﺍﻷﺴﺌﻠﺔ ﻻﺨﺘﺒﺎﺭ ﻓﺭﻀﻴﺎﺕ ﺍﻟﺒﺤﺙ ﻋﻤﻠﻴﺎﹰ‪ ،‬ﻭﻭﺠﻪ ﻫﺫﺍ ﺍﻻﺴﺘﺒﻴﺎﻥ ﺇﻟﻰ‬
‫ﻋﻴﻨﺔ ﺘﺘﺄﻟﻑ ﻤﻥ )‪ (60‬ﻤﺘﺨﺼﺼ ﹰﺎ ﻭﻤﻤﺎﺭﺴ ﹰﺎ ﻟﻠﻤﺤﺎﺴﺒﺔ ﻤﻥ ﺃﻋﻀﺎﺀ ﺠﻤﻌﻴﺔ ﺍﻟﻤﺤﺎﺴﺒﻴﻥ ﺍﻟﻘﺎﻨﻭﻨﻴﻴﻥ ﻓﻲ‬
‫ﻼ ﻋﻥ ﻋﺩﺩ ﻤﻥ ﺍﻟﻤﺤﺎﺴﺒﻴﻥ ﺍﻟﻌﺎﻤﻠﻴﻥ ﻓﻲ ﺸﺭﻜﺎﺕ ﺍﻟﻘﻁﺎﻋﻴﻥ ﺍﻟﻌﺎﻡ ﻭﺍﻟﺨﺎﺹ ﻓﻲ ﺴﻭﺭﻴﺔ‪ ،‬ﻭﻗﺩ‬
‫ﺴﻭﺭﻴﺔ ﻓﻀ ﹰ‬
‫ﺤﺩﺩ ﻟﻜل ﺴﺅﺍل ﺨﻤﺴﺔ ﺨﻴﺎﺭﺍﺕ )ﻤﻭﺍﻓﻕ ﺠﺩﺍﹰ‪ ،‬ﻤﻭﺍﻓﻕ‪ ،‬ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‪ ،‬ﻏﻴﺭ ﻤﻭﺍﻓﻕ‪ ،‬ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ(‬
‫ﻭﻓﻘ ﹰﺎ ﻻﺨﺘﺒﺎﺭ ﻟﻴﻜﺭﺕ ﺍﻟﺨﻤﺎﺴﻲ ﺍﻟﻤﻌﺭﻭﻑ ﺒﺯﻴﺎﺩﺓ ﺍﺨﺘﻴﺎﺭﻴﻥ ﻟﻠﺴﻤﺎﺡ ﻟﻠﻤﺒﺤﻭﺙ ﺒﺒﻴﺎﻥ ﺩﺭﺠﺔ ﻤﻭﺍﻓﻘﺘﻪ ﺃﻭ‬
‫ﺍﻋﺘﺭﺍﻀﻪ ﺒﺼﻭﺭﺓ ﻤﻔﺼﻠﺔ‪ ،‬ﺤﻴﺙ ﻴﻘﻭﻡ ﺍﻟﻤﺒﺤﻭﺙ ﺒﺎﺨﺘﻴﺎﺭ ﻭﺍﺤﺩﺓ ﻤﻨﻬﺎ ﻓﻘﻁ ﻤﻌﺒﺭﹰﺍ ﻋﻥ ﺭﺃﻴﻪ‪ ،‬ﻭﻗﺩ ﺃﻋﻁﻴﺕ‬
‫ﻜل ﺇﺠﺎﺒﺔ ﺭﻤﺯﹰﺍ ﻟﻠﺘﺤﻠﻴل )ﺩﺭﺠﺎﺕ ﺍﻟﻘﻴﺎﺱ( ﻜﻤﺎ ﻴﺄﺘﻲ‪:‬‬
‫ﺍﻟﻭﺼﻑ ﺃﻭ ﺍﻟﺘﻔﺴﻴﺭ‬ ‫ﺭﻤﺯ ﺍﻟﺘﺤﻠﻴل‬ ‫ﺩﺭﺠﺔ ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫ﺘﻌﻨﻲ ﺃﻋﻠﻰ ﺩﺭﺠﺔ ﻤﻤﻜﻨﺔ ﻤﻥ ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫‪5‬‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬
‫ﺘﻌﻨﻲ ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫‪4‬‬ ‫ﻤﻭﺍﻓﻕ‬
‫ﺇﺠﺎﺒﺔ ﻏﻴﺭ ﻤﺤﺩﺩﺓ‬ ‫‪3‬‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬
‫ﺘﻌﻨﻲ ﻋﺩﻡ ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫‪2‬‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬
‫ﺘﻌﻨﻲ ﺃﻋﻠﻰ ﺩﺭﺠﺔ ﻤﻥ ﻋﺩﻡ ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫‪1‬‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫ﺃﻤﺎ ﺍﺨﺘﺒﺎﺭ ﻨﺘﺎﺌﺞ ﺍﻻﺴﺘﺒﻴﺎﻥ ﻭﺘﺤﻠﻴﻠﻬﺎ ﻓﻘﺩ ﺘﻡ ﺒﺎﺴﺘﺨﺩﺍﻡ ﺍﻟﺒﺭﻨـﺎﻤﺞ ﺍﻹﺤﺼـﺎﺌﻲ ‪ SPSS‬ﻟﺤﺴـﺎﺏ ﺤـﺩﻭﺩ‬
‫ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﺍﻟﻤﺭﺠﺢ ﺒﺩﺭﺠﺎﺕ ﺍﻟﻘﻴﺎﺱ ﺍﻟﻤﻌﻁﺎﺓ ﻓﻲ ﺍﻟﺘﺤﻠﻴل ﻭﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ )ﻨﺴﺒﺔ ﺍﻟﻤﻭﺍﻓﻘﺔ( ﻭﻫﻲ‬
‫ﻨﺴﺒﺔ ﻤﺌﻭﻴﺔ ﺘﺤﺩﺩ ﺩﺭﺠﺔ ﺍﻟﻤﻭﺍﻓﻘﺔ ﻋﻠﻰ ﻜل ﺴﺅﺍل ‪ ،35‬ﻭﺘﺼﻨﻑ ﺍﻟﻨﺘﺎﺌﺞ ﻭﻓﻕ ﻤﺎ ﻴﺄﺘﻲ‪:‬‬
‫ﺤﺩﻭﺩ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫ﺤﺩﻭﺩ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ‬ ‫ﺩﺭﺠﺔ ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫‪%100 – 79.99‬‬ ‫‪5.00 – 4.01‬‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬
‫‪%80 - 59.99‬‬ ‫‪4.00 – 3.01‬‬ ‫ﻤﻭﺍﻓﻕ‬
‫‪%60 - 39.99‬‬ ‫‪3.00 – 2.01‬‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬
‫‪%40 – 19.99‬‬ ‫‪2.00 – 1.01‬‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬
‫‪%20 - %0.09‬‬ ‫‪1.00 – 0.01‬‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫‪35 SPSS Tutorials. Statistical Analysis Program. Analyzing Research Questionnaires. Website:‬‬
‫‪http://www.spsstools.net/spss.htm.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﻭﺘﻔﺴﺭ ﺍﻟﻨﺘﺎﺌﺞ ﺍﻟﺴﺎﺒﻘﺔ ﻋﻠﻰ ﺍﻟﺸﻜل ﺍﻵﺘﻲ‪:‬‬

‫ﻥ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﻤﺎ ﺒﻴﻥ )‪ (5.00 – 4.01‬ﻭﺍﻟﺫﻱ ﻴﻜﺎﻓﺊ )‪ (%100 – 79.99‬ﻤﻥ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫• ﺇ‪‬‬
‫ﻴﻌﻨﻲ ﺃﻥ ﻫﻨﺎﻙ ﻤﻭﺍﻓﻘﺔ ﺒﺩﺭﺠﺔ ﻜﺒﻴﺭﺓ ﻋﻠﻰ ﺍﻟﺴﺅﺍل ﺍﻟﻤﻁﺭﻭﺡ‪.‬‬
‫ﻥ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﻤﺎ ﺒﻴﻥ )‪ (4.00 – 3.01‬ﻭﺍﻟﺫﻱ ﻴﻜﺎﻓﺊ )‪ (%80 – 59.99‬ﻤﻥ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫• ﺇ‪‬‬
‫ﻴﻌﻨﻲ ﺃﻥ ﻫﻨﺎﻙ ﻤﻭﺍﻓﻘﺔ ﻋﻠﻰ ﺍﻟﺴﺅﺍل ﺍﻟﻤﻁﺭﻭﺡ‪.‬‬
‫ﻥ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﻤﺎ ﺒﻴﻥ )‪ (3.00 – 2.01‬ﻭﺍﻟﺫﻱ ﻴﻜﺎﻓﺊ )‪ (%60 – 39.99‬ﻤﻥ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫• ﺇ‪‬‬
‫ﻴﻌﻨﻲ ﺃﻨﻪ ﻻ ﻴﻤﻜﻥ ﺍﻟﻘﻁﻊ ﺒﻤﻭﺍﻓﻘﺔ ﺃﻭ ﻋﺩﻡ ﻤﻭﺍﻓﻘﺔ ﺍﻟﻤﺒﺤﻭﺙ ﻜﻭﻨﻪ ﻟﻡ ﻴﺴﺘﻁﻊ ﺍﺘﺨﺎﺫ ﻗﺭﺍﺭ‪.‬‬
‫ﻥ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﻤﺎ ﺒﻴﻥ )‪ (4.00 – 3.01‬ﻭﺍﻟﺫﻱ ﻴﻜﺎﻓﺊ )‪ (%40 – 19.99‬ﻤﻥ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘﺔ‬
‫• ﺇ‪‬‬
‫ﻴﻌﻨﻲ ﺃﻥ ﻫﻨﺎﻙ ﻋﺩﻡ ﻤﻭﺍﻓﻘﺔ ﻋﻠﻰ ﺍﻟﺴﺅﺍل ﺍﻟﻤﻁﺭﻭﺡ‪.‬‬
‫ﻥ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﺤﺴﺎﺒﻲ ﻤﺎ ﺒﻴﻥ )‪ (2.00 – 1.01‬ﻭﺍﻟﺫﻱ ﻴﻜﺎﻓﺊ )‪ (%20 – 0.09‬ﻤﻥ ﺩﻟﻴل ﺍﻟﻤﻭﺍﻓﻘـﺔ‬
‫• ﺇ‪‬‬
‫ﻴﻌﻨﻲ ﺃﻥ ﻫﻨﺎﻙ ﻋﺩﻡ ﻤﻭﺍﻓﻘﺔ ﺒﺩﺭﺠﺔ ﻜﺒﻴﺭﺓ ﻋﻠﻰ ﺍﻟﺴﺅﺍل ﺍﻟﻤﻁﺭﻭﺡ‪.‬‬

‫ﺍﻻﺴﺘﺒﻴﺎﻥ ﻭﺘﺤﻠﻴل ﺍﻟﻨﺘﺎﺌﺞ‪:‬‬

‫ﺘﻀﻤﻥ ﺍﻻﺴﺘﺒﻴﺎﻥ ﻋﺸﺭﺓ ﺃﺴﺌﻠﺔ ﻤﻘﺴﻤﺔ ﺇﻟﻰ ﻗﺴﻤﻴﻥ‪ :‬ﺍﻟﻘﺴﻡ ﺍﻷﻭل )ﺍﻷﺴـﺌﻠﺔ ﻤـﻥ ‪ 1‬ﺤﺘـﻰ ‪ (3‬ﻴﺘﻨـﺎﻭل‬
‫ﺍﻟﺴﺅﺍل ﻤﺩﻯ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻭﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻘﻪ‪ ،‬ﻭﻴﺠﻴـﺏ ﻋﻨـﻪ ﺠﻤﻴـﻊ‬
‫ﺍﻟﻤﺒﺤﻭﺜﻴﻥ‪ ،‬ﺃﻤﺎ ﺍﻟﻘﺴﻡ ﺍﻟﺜﺎﻨﻲ )ﺍﻷﺴﺌﻠﺔ ﻤﻥ ‪ 4‬ﺤﺘﻰ ‪ (10‬ﻓﻴﺘﻨﺎﻭل ﻜﻴﻔﻴﺔ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔـﺎﺽ ﺍﻟﻘﻴﻤـﺔ‬
‫)ﺇﻥ ﻭﺠﺩ( ﻭﻋﻠﻰ ﺫﻟﻙ ﻓﺈﻥ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﺍﻟﺫﻴﻥ ﺃﺠﺎﺒﻭﺍ ﺒـ )ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺃﻭ ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ( ﻋﻠﻰ ﺍﻟﺴـﺅﺍل‬
‫ﺍﻷﻭل ﺴﻭﻑ ﺘﺅﺨﺫ ﺇﺠﺎﺒﺎﺘﻬﻡ ﺒﺎﻟﺤﺴﺒﺎﻥ‪ ،‬ﻭﺨﻼﻓ ﹰﺎ ﻟﺫﻟﻙ ﻴﺘﻡ ﺍﺴﺘﺒﻌﺎﺩ ﺇﺠﺎﺒﺎﺕ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﻓـﻲ ﺤـﺎل ﻜﺎﻨـﺕ‬
‫ﺇﺠﺎﺒﺎﺘﻬﻡ ﻋﻥ ﺍﻟﺴﺅﺍل ﺍﻷﻭل )ﻤﻭﺍﻓﻕ ﺃﻭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ ﺃﻭ ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ(‪.‬‬
‫ﺍﻟﺴﺅﺍل ﺍﻷﻭل‪ :‬ﻻ ﻴﺘﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﻤﻨﺸﺄﺓ ﺍﻟﺘﻲ ﺘﻌﻤل ﺒﻬﺎ؟‬
‫ﺩﻟﻴل‬ ‫ﺍﻟﻤﺘﻭﺴﻁ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﺭﻗﻡ ﺍﻟﺴﺅﺍل‬
‫ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫ﺍﻟﺤﺴﺎﺒﻲ‬ ‫ﺠﺩﹰﺍ‬ ‫ﺇﺠﺎﺒﺔ‬

‫‪0,81‬‬ ‫‪4,03‬‬ ‫‪0‬‬ ‫‪0‬‬ ‫‪10‬‬ ‫‪38‬‬ ‫‪12‬‬ ‫‪1‬‬

‫‪%0‬‬ ‫‪%0‬‬ ‫‪%17‬‬ ‫‪%63‬‬ ‫‪%20‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬

‫ﺒﻠﻎ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﻤﺭﺠﺢ ﻟﻬﺫﺍ ﺍﻟﺴﺅﺍل )‪ (4,03‬ﻤﻤﺎ ﻴﺅﻜﺩ ﺍﻟﻤﻭﺍﻓﻘﺔ ﺒﺩﺭﺠﺔ ﻜﺒﻴﺭﺓ ﻟﻠﻤﺒﺤﻭﺜﻴﻥ ﻋﻠﻰ ﺍﻟﺴـﺅﺍل‬
‫ﻭﺒﻨﺴﺒﺔ ﻤﻭﺍﻓﻘﺔ ﻋﺎﻟﻴﺔ ﺒﻠﻐﺕ ‪ ،%81‬ﻤﻤﺎ ﻴﺩل ﻋﻠﻰ ﺃﻨﻪ ﻻ ﻴﺘﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔـﺎﺽ ﻗﻴﻤـﺔ ﺍﻷﺼـﻭل‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﺸﺭﻜﺎﺕ ﺍﻟﺴﻭﺭﻴﺔ‪ ،‬ﻋﻠﻤ ﹰﺎ ﺃﻥ ﺍﻟﻨﺴﺒﺔ ﺍﻟﻤﺌﻭﻴﺔ ﻟﻌﺩﺩ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﺍﻟﻤﺠﻴﺒﻴﻥ ﻋﻥ )ﺍﻟﻤﻭﺍﻓـﻕ‬
‫ﺠﺩﹰﺍ( ﺒﻠﻐﺕ ‪ %20‬ﺒﻴﻨﻤﺎ ﻋﻥ )ﺍﻟﻤﻭﺍﻓﻕ( ‪ %63‬ﻓﻲ ﺤﻴﻥ ﻜﺎﻨﺕ ﻨﺴﺒﺔ ﺍﻟﺫﻴﻥ ﻟﻡ ﺘﻜﻥ ﻟﻬﻡ ﺇﺠﺎﺒـﺔ ﻤﻌﺭﻭﻓـﺔ‬
‫)ﻤﺤﺩﺩﺓ( ‪.%17‬‬
‫ﻥ ﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻫﻲ ﻤﻥ ﺃﻫﻡ ﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔـﺎﺽ‬
‫ﺍﻟﺴﺅﺍل ﺍﻟﺜﺎﻨﻲ‪ :‬ﺇ ‪‬‬
‫ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﺸﺭﻜﺎﺕ ﺍﻟﺴﻭﺭﻴﺔ؟‬
‫ﺩﻟﻴل‬ ‫ﺍﻟﻤﺘﻭﺴﻁ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﺭﻗﻡ ﺍﻟﺴﺅﺍل‬
‫ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫ﺍﻟﺤﺴﺎﺒﻲ‬ ‫ﺠﺩﹰﺍ‬ ‫ﺇﺠﺎﺒﺔ‬
‫‪0,82‬‬ ‫‪4,10‬‬ ‫‪0‬‬ ‫‪4‬‬ ‫‪10‬‬ ‫‪22‬‬ ‫‪24‬‬ ‫‪2‬‬

‫‪%0‬‬ ‫‪%7‬‬ ‫‪%17‬‬ ‫‪%37‬‬ ‫‪%40‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬

‫ﺒﻠﻎ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﻤﺭﺠﺢ ﻟﻬﺫﺍ ﺍﻟﺴﺅﺍل )‪ (4,10‬ﻤﻤﺎ ﻴﺅﻜﺩ ﺍﻟﻤﻭﺍﻓﻘﺔ ﺒﺩﺭﺠﺔ ﻜﺒﻴﺭﺓ ﻟﻠﻤﺒﺤﻭﺜﻴﻥ ﻋﻠﻰ ﺍﻟﺴـﺅﺍل‬
‫ﻭﺒﻨﺴﺒﺔ ﻤﻭﺍﻓﻘﺔ ﻋﺎﻟﻴﺔ ﺒﻠﻐﺕ ‪ %82‬ﻤﻤﺎ ﻴﺩل ﻋﻠﻰ ﺃﻥ ﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻫـﻲ ﻤـﻥ ﺃﻫـﻡ‬
‫ﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﺸﺭﻜﺎﺕ ﺍﻟﺴﻭﺭﻴﺔ‪ ،‬ﻋﻠﻤ ﹰﺎ ﺃﻥ ﺍﻟﻨﺴﺒﺔ‬
‫ﺍﻟﻤﺌﻭﻴﺔ ﻟﻌﺩﺩ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﺍﻟﻤﺠﻴﺒﻴﻥ ﻋﻥ )ﺍﻟﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ( ﺒﻠﻐﺕ ‪ %40‬ﺒﻴﻨﻤﺎ ﻋﻥ )ﺍﻟﻤﻭﺍﻓﻕ( ‪ %37‬ﻓﻲ ﺤﻴﻥ‬
‫ﻜﺎﻨﺕ ﻨﺴﺒﺔ ﺍﻟﺫﻴﻥ ﻟﻡ ﺘﻜﻥ ﻟﻬﻡ ﺇﺠﺎﺒﺔ ﻤﻌﺭﻭﻓﺔ ‪ %17‬ﻭﻨﺴﺒﺔ ﻏﻴﺭ ﺍﻟﻤﻭﺍﻓﻘﻴﻥ ‪.%7‬‬
‫ﻥ ﺍﻟﺘﺯﺍﻡ ﻤﺅﺴﺴﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﻭﺸﺭﻜﺎﺘﻪ ﻓﻲ ﺴﻭﺭﻴﺔ ﺒﺎﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﻴﻌﺭﻗل‬
‫ﺍﻟﺴﺅﺍل ﺍﻟﺜﺎﻟﺙ‪ :‬ﺇ ‪‬‬
‫ﺍﻟﺘﻔﻜﻴﺭ ﺒﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل؟‬
‫ﺩﻟﻴل‬ ‫ﺍﻟﻤﺘﻭﺴﻁ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﺭﻗﻡ ﺍﻟﺴﺅﺍل‬
‫ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫ﺍﻟﺤﺴﺎﺒﻲ‬ ‫ﺠﺩﹰﺍ‬ ‫ﺇﺠﺎﺒﺔ‬
‫‪0,73‬‬ ‫‪3,63‬‬ ‫‪0‬‬ ‫‪18‬‬ ‫‪4‬‬ ‫‪20‬‬ ‫‪18‬‬ ‫‪3‬‬
‫‪%0‬‬ ‫‪%30‬‬ ‫‪%7‬‬ ‫‪%33‬‬ ‫‪%30‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬

‫ﺒﻠﻎ ﺍﻟﻤﺘﻭﺴﻁ ﺍﻟﻤﺭﺠﺢ ﻟﻬﺫﺍ ﺍﻟﺴﺅﺍل )‪ (3,63‬ﻤﻤﺎ ﻴﺅﻜﺩ ﻤﻭﺍﻓﻘﺔ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﻋﻠﻰ ﺍﻟﺴﺅﺍل ﻭﺒﻨﺴﺒﺔ ﻤﻭﺍﻓﻘـﺔ‬
‫ﺒﻠﻐﺕ ‪ %73‬ﻤﻤﺎ ﻴﺩل ﻋﻠﻰ ﺃﻥ ﺍﻟﺘﺯﺍﻡ ﻤﺅﺴﺴﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﻭﺸﺭﻜﺎﺘﻪ ﻓﻲ ﺴﻭﺭﻴﺔ ﺒﺎﻟﻨﻅـﺎﻡ ﺍﻟﻤﺤﺎﺴـﺒﻲ‬
‫ﺍﻟﻤﻭﺤﺩ ﻴﻌﺭﻗل ﺍﻟﺘﻔﻜﻴﺭ ﺒﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪ ،‬ﻋﻠﻤ ﹰﺎ ﺃﻥ ﺍﻟﻨﺴـﺒﺔ ﺍﻟﻤﺌﻭﻴـﺔ‬
‫ﻟﻌﺩﺩ ﺍﻟﻤﺒﺤﻭﺜﻴﻥ ﺍﻟﻤﺠﻴﺒﻴﻥ ﻋﻥ )ﺍﻟﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ( ﺒﻠﻐﺕ ‪ %30‬ﺒﻴﻨﻤﺎ ﻋﻥ )ﺍﻟﻤﻭﺍﻓﻕ( ‪ %37‬ﺒﻴﻨﻤﺎ ﻜﺎﻨﺕ ﻨﺴﺒﺔ‬
‫ﺍﻟﺫﻴﻥ ﻟﻡ ﺘﻜﻥ ﻟﻬﻡ ﺇﺠﺎﺒﺔ ﻤﻌﺭﻭﻓﺔ ‪ %7‬ﻭﻨﺴﺒﺔ ﻏﻴﺭ ﺍﻟﻤﻭﺍﻓﻘﻴﻥ ‪.%30‬‬
‫ﻭﻨﻅﺭﹰﺍ ﻷﻥ ﺠﻤﻴﻊ ﺍﻹﺠﺎﺒﺎﺕ ﻋﻥ ﺍﻟﺴﺅﺍل ﺍﻷﻭل ﻻ ﺘﺘﻀﻤﻥ ﺇﺠﺎﺒﺎﺕ )ﻏﻴﺭ ﻤﻭﺍﻓﻕ( ﺃﻭ )ﻏﻴﺭ ﻤﻭﺍﻓـﻕ ﺠـﺩﹰﺍ(‬
‫ﻓﺈﻥ ﺍﻹﺠﺎﺒﺎﺕ ﻋﻥ ﺍﻷﺴﺌﻠﺔ ﻤﻥ ﺍﻟﺴﺅﺍل ‪ 4‬ﺤﺘﻰ ﺍﻟﺴﺅﺍل ﺭﻗﻡ ‪ 10‬ﺘﺴﺘﺒﻌﺩ ﻷﻨﻬﺎ ﺘﺘﻌﻠﻕ ﺒﻜﻴﻔﻴﺔ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ‬
‫ﺍﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ‪.‬‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫‪:Conclusions and Recommendations‬‬ ‫ﻨﺘﺎﺌﺞ ﺍﻟﺒﺤﺙ ﻭﺘﻭﺼﻴﺎﺘﻪ‬ ‫‪.7‬‬

‫ﺃﺸﺎﺭﺕ ﻨﺘﺎﺌﺞ ﺍﻟﺒﺤﺙ ﺇﻟﻰ ﻤﺎ ﻴﺄﺘﻲ‪:‬‬

‫• ﺇﻥ ﺍﻟﻘﻁﺎﻋﻴﻥ ﺍﻟﻌﺎﻡ ﻭﺍﻟﺨﺎﺹ ﻓﻲ ﺴﻭﺭﻴﺔ ﻻ ﻴﻁﺒﻘﺎﻥ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪ ،‬ﻭﻻ‬
‫ﻴﻌﻁﻰ ﻫﺫﺍ ﺍﻟﻤﻭﻀﻭﻉ ﺍﻷﻫﻤﻴﺔ ﺍﻟﻼﺯﻤﺔ ﻤﻥ ﻗﺒل ﻤﻤﺎﺭﺴﻲ ﻤﻬﻨﺔ ﺍﻟﻤﺤﺎﺴﺒﺔ ﻓﻲ ﺴﻭﺭﻴﺔ‪.‬‬
‫• ﺇﻥ ﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻲ ﻭﻀﻌﻑ ﺍﻟﻭﻋﻲ ﺍﻟﻤﻬﻨﻲ ﻓﻲ ﺴﻭﺭﻴﺔ ﻤﻥ ﺃﻫﻡ ﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ‬
‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺴﻭﺭﻴﺔ‪.‬‬
‫• ﺇﻥ ﺍﻟﺘﺯﺍﻡ ﻤﺅﺴﺴﺎﺕ ﻭﺸﺭﻜﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﺒﺎﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﻴﻌﻴﻕ ﺍﻟﺘﻔﻜﻴﺭ ﺒﺘﻁﺒﻴﻕ ﺍﻨﺨﻔﺎﺽ‬
‫ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪.‬‬
‫ﻴﻭﺼﻲ ﺍﻟﺒﺎﺤﺙ ﺒﻤﺎ ﻴﺄﺘﻲ‪:‬‬
‫ﻥ ﺘﺒ ﹼﻨﻲ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻴﺅﺩﻱ ﺇﻟﻰ ﺭﻓﻊ ﺴﻭﻴﺔ ﻤﻬﻨﺔ ﺍﻟﻤﺤﺎﺴﺒﺔ‪ ،‬ﻭﺇﻋﻁﺎﺀ ﺃﻫﻤﻴﺔ‬
‫• ﺇ‪‬‬
‫ﻟﻜﺜﻴﺭ ﻤﻥ ﺍﻟﻤﺸﺎﻜل ﺍﻟﻤﺤﺎﺴﺒﻴﺔ ﺍﻟﻤﻌﺎﺼﺭﺓ ﻭﻤﻨﻬﺎ ﻤﺴﺄﻟﺔ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل‪.‬‬
‫ﻥ ﺇﻨﺸﺎﺀ ﺴﻭﻕ ﻤﺎﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻭﺇﺼﺩﺍﺭ ﻗﻭﺍﻋﺩ ﻟﻠﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻭﻤﻨﻬﺎ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ‬
‫• ﺇ‪‬‬
‫ﺍﻟﻘﻴﻤﺔ ﻴﺅﺩﻱ ﺇﻟﻰ ﺤﻤﺎﻴﺔ ﺍﻟﻤﺠﺘﻤﻊ ﺍﻟﻤﺎﻟﻲ ﻤﻥ ﺍﻟﺘﻀﻠﻴل ﻓﻲ ﺍﻟﻘﻭﺍﺌﻡ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﻤﻨﺸﻭﺭﺓ‪.‬‬
‫• ﻻ ﺸﻙ ﺃﻥ ﺍﻹﺒﻘﺎﺀ ﻋﻠﻰ ﺍﻟﺘﻜﻠﻔﺔ ﺍﻟﺘﺎﺭﻴﺨﻴﺔ ﻟﻸﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺍﻟﺘﻲ ﻴﻭﺼﻲ ﺒﻬﺎ ﺍﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ‬
‫ﺍﻟﻤﻭﺤﺩ ﻤﻥ ﺸﺄﻨﻪ ﺃﻥ ﻴﺠﻌل ﺍﻟﻘﻭﺍﺌﻡ ﺍﻟﻤﺎﻟﻴﺔ ﻟﺸﺭﻜﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﻭﻤﺅﺴﺴﺎﺘﻪ ﻓﻲ ﺴﻭﺭﻴﺔ ﻤﻀﻠﻠﺔ ﻭﻻ‬
‫ﺘﻘﺩﻡ ﻗﻴﺎﺴ ﹰﺎ ﻋﺎﺩ ﹰﻻ ﻷﺼﻭﻟﻬﺎ ﻭﺍﻟﺘﺯﺍﻤﺎﺘﻬﺎ‪ ،‬ﻟﺫﻟﻙ ﻓﺈﻥ ﺘﻁﺒﻴﻕ ﻤﻌﺎﻴﻴﺭ ﺍﻟﻤﺤﺎﺴﺒﺔ ﺍﻟﺩﻭﻟﻴﺔ ﻤﻥ ﻗﺒل ﺸﺭﻜﺎﺕ‬
‫ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﻭﻤﺅﺴﺴﺎﺘﻪ‪ ،‬ﺇﻀﺎﻓﺔ ﺇﻟﻰ ﺸﺭﻜﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﺨﺎﺹ‪ ،‬ﻴﺴﻤﺢ ﺒﺘﻁﻭﻴﺭ ﺍﻟﻘﻴﺎﺱ ﻭﺍﻹﻓﺼﺎﺡ‬
‫ﺍﻟﻤﺤﺎﺴﺒﻲ‪ ،‬ﻭﻤﻥ ﺜ ‪‬ﻡ ﻴﻔﺘﺢ ﺍﻟﺒﺎﺏ ﻭﺍﺴﻌ ﹰﺎ ﻟﺘﻁﻭﻴﺭ ﺘﻠﻙ ﺍﻟﺸﺭﻜﺎﺕ ﻭﺍﻟﻤﺅﺴﺴﺎﺕ ﻭﻴﺠﻌل ﺇﻤﻜﺎﻨﻴﺔ ﺍﻟﻤﻘﺎﺭﻨﺔ‬
‫ﺒﻴﻥ ﺍﻟﻘﻁﺎﻋﻴﻥ ﺍﻟﻌﺎﻡ ﻭﺍﻟﺨﺎﺹ ﺃﻜﺜﺭ ﻤﻼﺀﻤﺔ‪.‬‬

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References ‫ﺍﻟﻤﺭﺍﺠﻊ‬
1. AAA Financial accounting Standards Committee (Robert H. Herz, et al). 2001. “Equity
Valuation Models and Measuring Goodwill Impairment”, Accounting Horizons, June
2001 Issue, USA.
2. Alciatore, Mini, Easton, Peter, and Spear, Nassr. (2000). “Accounting for the
impairment of long-lived assets: Evidence from the petroleum industry”. Journal of
Accounting and Economic. Volume 29, Issue 2, April 2000.
3. Cocco, Anthony and Moores, Tommy, 1995, “Accounting for the Impairment of Long-
Lived Assets”, The CPA Journal, e-publications www.nysscpa.org, USA.
4. Deloitte Touche Tohmatsu. “Comparison of IAS and US GAAP”. Printed in Hong
Kong. electronic form at www.iasplus.com. 2003.
5. Edward J., Riedl, 2004, “An Examination of Long-Lived Asset Impairment”,
Accounting Review, July 2004 Issue, USA. P34-46.
6. FASB. 2001. Statement of Financial Accounting Standards No. 144: “Accounting for
the Impairment or Disposal of Long-Lived Assets”. Stamford, CT. FASB.
7. Godfryey, Jayne, Hodgson, Allan and Holmes, Scott, 2000. Accounting Theory, 3rd
edition, John Wiley & Sons, Australia.
8. Gottlied, Max 1992. “Impairment of long-lived assets: recognition, measurement and
disclosure”, The CPA Journal, KPMG, e-publications www.nysscpa.org, USA.
9. IASC. 2001.“International Accounting Standards Explained”. John Wiley & Sons, Ltd. USA.
10. International Accounting Standards Board (IASB). 1998. IAS36. “Impairment of
Assets”. Web site: http://www.iasc.org.uk.
11. Kieso, Donald E., Weygandt, Jerry J., Warfield, Terry D., “Intermediate
Accounting”, 11th Edition Update Package, John Wiley & Sons, USA, 2004.
12. KPMG International, Assurance Services. “Implementing IAS Extract from: IAS
compared with US GAAP”. www.kpmg.com. Swiss. 2002.
13. Munter, Paul, 1995, “SFAS No. 121 and Impairment of Assets: The Need for
Professional Judgment”, The CPA Journal, KPMG, e-publications www.nysscpa.org,
USA.
14. PricewaterhouseCoopers. “International Accounting Standards: Similarities and
Differences IAS, US GAAP and UK GAAP”. www.pwcglobal.com. England and
Wales. September 2001.
15. Revsine, Lawrence, Colline, Daniel W., Johnson, W. Bruce. “Financial Reporting
and Analysis”, 3rd edition, Prentice Hall, New Jersey, USA, 2005.
16. Schroeder, Richard G., Clark, Mytle W., Cathey, Jack M. 2001. “Financial
Accounting Theory and Analysis”. John Wiley & Sons, Ltd. USA.
17. SPSS Tutorials. Statistical Analysis Program. Analyzing Research Questionnaires.
Website: http://www.spsstools.net/spss.htm.
18. Veronique, G. Frucot, Leland, G. Jordan, and Marc, I. Lebow, “A&B Companies:
Impairment of Goodwill”, Issues in Accounting Education”, August 2004 Issue, USA.
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P21-34.

.2006/2/12 ‫ﺘﺎﺭﻴﺦ ﻭﺭﻭﺩ ﺍﻟﺒﺤﺙ ﺇﻟﻰ ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﺍﻟﻤﻠﺤﻕ‬
‫ﺍﺴﺘﺒﻴﺎﻥ ﺍﻟﺒﺤﺙ‬
‫ﻴﺭﺠﻰ ﻭﻀﻊ ﺇﺸﺎﺭﺓ )‪ (x‬ﺃﻤﺎﻡ ﺍﻹﺠﺎﺒﺔ ﺍﻟﺘﻲ ﺘﺭﻭﻨﻬﺎ ﻤﻨﺎﺴﺒﺔ ﻟﻜل ﺴﺅﺍل ﻤﻤﺎ ﻴﺄﺘﻲ‪:‬‬
‫‪ -1‬ﻻ ﻴﺘﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﻤﻨﺸﺄﺓ ﺍﻟﺘﻲ ﺘﻌﻤل ﺒﻬﺎ؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫ﻥ ﻏﻴﺎﺏ ﺍﻟﺴﻭﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺴﻭﺭﻴﺔ ﻫﻲ ﻤﻥ ﺃﻫﻡ ﺃﺴﺒﺎﺏ ﻋﺩﻡ ﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ‬
‫‪ -2‬ﺇ ‪‬‬
‫ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻓﻲ ﺍﻟﺸﺭﻜﺎﺕ ﺍﻟﺴﻭﺭﻴﺔ؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫ﻥ ﺍﻟﺘﺯﺍﻡ ﻤﺅﺴﺴﺎﺕ ﺍﻟﻘﻁﺎﻉ ﺍﻟﻌﺎﻡ ﻭﺸﺭﻜﺎﺘﻪ ﻓﻲ ﺴﻭﺭﻴﺔ ﺒﺎﻟﻨﻅﺎﻡ ﺍﻟﻤﺤﺎﺴﺒﻲ ﺍﻟﻤﻭﺤﺩ ﻴﻌﺭﻗل ﺍﻟﺘﻔﻜﻴﺭ‬
‫‪ -3‬ﺇ ‪‬‬
‫ﺒﺘﻁﺒﻴﻕ ﺍﺨﺘﺒﺎﺭ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫ﺇﻥ ﺍﻹﺠﺎﺒﺔ ﻋﻥ ﺍﻷﺴﺌﻠﺔ )‪ (10-4‬ﻤﻁﻠﻭﺒﺔ ﻓﻘﻁ ﺇﺫﺍ ﻜﺎﻨﺕ ﺍﻹﺠﺎﺒﺔ ﻋﻥ ﺍﻟﺴﺅﺍل ﺍﻷﻭل )ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺃﻭ ﻏﻴﺭ‬
‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ(‪.‬‬
‫‪ -4‬ﻴﺘﻡ ﺇﺠﺭﺍﺀ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺩﻭﺭﻴﺎﹰ؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫‪ -5‬ﻫﻨﺎﻙ ﻤﺅﺸﺭﺍﺕ ﻋﺎﻤﺔ ﻋﻠﻰ ﺤﺩﻭﺙ ﺍﻨﺨﻔﺎﺽ ﻓﻲ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﺘﺴﺘﺨﺩﻤﻬﺎ ﺍﻟﻤﻨﺸﺄﺓ؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫‪ -6‬ﻋﻨﺩ ﻭﺠﻭﺩ ﺍﺤﺘﻤﺎل ﺒﺎﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺘﻘﺎﺭﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل ﻤﻊ ﺼﺎﻓﻲ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ‬
‫ﻏﻴﺭ ﺍﻟﻤﺨﺼﻭﻤﺔ ﺍﻟﻤﺘﻭﻗﻌﺔ ﻤﻥ ﺍﺴﺘﺨﺩﺍﻡ ﺍﻷﺼل ﻭﺍﻟﺘﺨﻠﺹ ﻤﻨﻪ؟‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

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 ‫ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ ﺍﻷﺼﻭل ﻁﻭﻴﻠﺔ ﺍﻷﺠل ﻭﺃﻫﻤﻴﺔ ﺘﻁﺒﻴﻘﻬﺎ ﻓﻲ ﺴﻭﺭﻴﺔ‬

‫‪ -7‬ﻋﻨﺩ ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﺒﺎﻟﻘﻴﻤﺔ ﻴﻌ ‪‬ﺩ ﺍﻟﻔﺭﻕ ﺒﻴﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻌﺎﺩﻟﺔ )ﻋﻨﺩ ﺘﻭﺍﻓﺭ ﺴﻭﻕ ﻨﺸﻁﺔ( ﻟﻸﺼل‬
‫ﻭﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل ﺒﻤﻨﺯﻟﺔ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ؟‬

‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫‪ -8‬ﻋﻨﺩ ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﺒﺎﻟﻘﻴﻤﺔ ﻴﻌ ‪‬ﺩ ﺍﻟﻔﺭﻕ ﺒﻴﻥ ﺼﺎﻓﻲ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺨﺼﻭﻤﺔ ﺍﻟﻤﺘﻭﻗﻌﺔ ﻤﻥ‬
‫ﺍﺴﺘﺨﺩﺍﻡ ﺍﻷﺼل ﻭﺍﻟﺘﺨﻠﺹ ﻤﻨﻪ )ﻋﻨﺩ ﻋﺩﻡ ﺘﻭﺍﻓﺭ ﺴﻭﻕ ﻨﺸﻁﺔ( ﻟﻸﺼل ﻭﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل ﺒﻤﺜﺎﺒﺔ‬
‫ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ؟‬

‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

‫‪ -9‬ﻋﻨﺩ ﻭﺠﻭﺩ ﺍﺤﺘﻤﺎل ﺒﺎﻨﺨﻔﺎﺽ ﺍﻟﻘﻴﻤﺔ ﺘﻘﺎﺭﻥ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل ﻤﻊ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ‬
‫)ﺍﻟﻘﻴﻤﺔ ﺍﻟﺴﻭﻗﻴﺔ ﺍﻟﺼﺎﻓﻴﺔ ﺃﻭ ﺼﺎﻓﻲ ﺍﻟﺘﺩﻓﻘﺎﺕ ﺍﻟﻨﻘﺩﻴﺔ ﺍﻟﻤﺨﺼﻭﻤﺔ ﺍﻟﻤﺘﻭﻗﻌﺔ ﻤﻥ ﺍﺴﺘﺨﺩﺍﻡ ﺍﻷﺼل‬
‫ﻭﺍﻟﺘﺨﻠﺹ ﻤﻨﻪ ﺃﻴﻬﻤﺎ ﺃﻜﺒﺭ(؟‬

‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺒﺸﺩﺓ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻏﻴﺭ ﻤﺤﺩﺩ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺒﺸﺩﺓ‬

‫‪ -10‬ﻋﻨﺩ ﻭﺠﻭﺩ ﺍﻨﺨﻔﺎﺽ ﺒﺎﻟﻘﻴﻤﺔ ﻴﻌ ‪‬ﺩ ﺍﻟﻔﺭﻕ ﺒﻴﻥ ﺍﻟﻤﺒﻠﻎ ﺍﻟﻘﺎﺒل ﻟﻼﺴﺘﺭﺩﺍﺩ ﻭﺍﻟﻘﻴﻤﺔ ﺍﻟﻤﺤﻤﻠﺔ ﻟﻸﺼل‬
‫ﺒﻤﻨﺯﻟﺔ ﺨﺴﺎﺭﺓ ﺍﻨﺨﻔﺎﺽ ﻗﻴﻤﺔ؟‬

‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ ﺇﺠﺎﺒﺔ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬

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‫ﺴﻤﻴﺭ ﺍﻟﺭﻴﺸﺎﻨﻲ‬ ‫ﻤﺠﻠﺔ ﺠﺎﻤﻌﺔ ﺩﻤﺸﻕ ﻟﻠﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻟﻘﺎﻨﻭﻨﻴﺔ– ﺍﻟﻤﺠﻠﺩ ‪ -23‬ﺍﻟﻌﺩﺩ ﺍﻟﺜﺎﻨﻲ‪2007-‬‬

‫ﻨﺘﺎﺌﺞ ﺍﻻﺴﺘﺒﻴﺎﻥ‬
‫ﺩﻟﻴل‬ ‫ﺍﻟﻤﺘﻭﺴﻁ‬ ‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻻ ﺘﻭﺠﺩ‬
‫ﻏﻴﺭ ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ‬ ‫ﻤﻭﺍﻓﻕ ﺠﺩﹰﺍ‬ ‫ﺭﻗﻡ ﺍﻟﺴﺅﺍل‬
‫ﺍﻟﻤﻭﺍﻓﻘﺔ‬ ‫ﺍﻟﺤﺴﺎﺒﻲ‬ ‫ﺠﺩﹰﺍ‬ ‫ﺇﺠﺎﺒﺔ‬
‫‪0,81‬‬ ‫‪4,03‬‬ ‫‪0‬‬ ‫‪0‬‬ ‫‪10‬‬ ‫‪38‬‬ ‫‪12‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻷﻭل‬
‫‪%0‬‬ ‫‪%0‬‬ ‫‪%17‬‬ ‫‪%63‬‬ ‫‪%20‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,82‬‬ ‫‪4,10‬‬ ‫‪0‬‬ ‫‪4‬‬ ‫‪10‬‬ ‫‪22‬‬ ‫‪24‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺜﺎﻨﻲ‬
‫‪%0‬‬ ‫‪%7‬‬ ‫‪%17‬‬ ‫‪%37‬‬ ‫‪%40‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,73‬‬ ‫‪3,63‬‬ ‫‪0‬‬ ‫‪18‬‬ ‫‪4‬‬ ‫‪20‬‬ ‫‪18‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺜﺎﻟﺙ‬
‫‪%0‬‬ ‫‪%30‬‬ ‫‪%7‬‬ ‫‪%33‬‬ ‫‪%30‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,57‬‬ ‫‪2,87‬‬ ‫‪2‬‬ ‫‪18‬‬ ‫‪28‬‬ ‫‪10‬‬ ‫‪2‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺭﺍﺒﻊ‬
‫‪%3‬‬ ‫‪%30‬‬ ‫‪%47‬‬ ‫‪%17‬‬ ‫‪%3‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,67‬‬ ‫‪3,33‬‬ ‫‪2‬‬ ‫‪8‬‬ ‫‪26‬‬ ‫‪16‬‬ ‫‪8‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺨﺎﻤﺱ‬
‫‪%3‬‬ ‫‪%13‬‬ ‫‪%43‬‬ ‫‪%27‬‬ ‫‪%13‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,61‬‬ ‫‪3,03‬‬ ‫‪2‬‬ ‫‪8‬‬ ‫‪36‬‬ ‫‪14‬‬ ‫‪0‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺴﺎﺩﺱ‬
‫‪%3‬‬ ‫‪%13‬‬ ‫‪%60‬‬ ‫‪%23‬‬ ‫‪%0‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,67‬‬ ‫‪3,36‬‬ ‫‪0‬‬ ‫‪4‬‬ ‫‪36‬‬ ‫‪24‬‬ ‫‪2‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺴﺎﺒﻊ‬
‫‪%0‬‬ ‫‪%6‬‬ ‫‪%55‬‬ ‫‪%36‬‬ ‫‪%3‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,65‬‬ ‫‪3,27‬‬ ‫‪0‬‬ ‫‪4‬‬ ‫‪36‬‬ ‫‪20‬‬ ‫‪0‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺜﺎﻤﻥ‬
‫‪%0‬‬ ‫‪%7‬‬ ‫‪%60‬‬ ‫‪%33‬‬ ‫‪%0‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,68‬‬ ‫‪3,40‬‬ ‫‪0‬‬ ‫‪2‬‬ ‫‪36‬‬ ‫‪18‬‬ ‫‪4‬‬ ‫ﺍﻟﺴﺅﺍل ﺍﻟﺘﺎﺴﻊ‬
‫‪%0‬‬ ‫‪%3‬‬ ‫‪%60‬‬ ‫‪%30‬‬ ‫‪%7‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬
‫‪0,71‬‬ ‫‪3,57‬‬ ‫‪0‬‬ ‫‪4‬‬ ‫‪28‬‬ ‫‪18‬‬ ‫‪10‬‬ ‫ﺍﻟﻌﺎﺸﺭ‬
‫‪%0‬‬ ‫‪%7‬‬ ‫‪%47‬‬ ‫‪%30‬‬ ‫‪%17‬‬ ‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬

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