Private-company CFOs surveyed by the American Institute of Certified Public Accountants said they have enough cash or have even increased their cash this year, but they remain reluctant to deploy it.

根据美国会计师协会的调查结果，私营公司的CFO表示，他们有足够的现金甚至今年现金量还得到了增加，但他们不愿意用掉这些现金。

Forty-three percent of the 1,250 senior executives in an AICPA Business and Industry Outlook Survey released today have “about the right amount” of cash currently, while 36% said cash assets have increased from the first quarter to the second quarter of 2012. Thirty-six percent also said they specifically had more noncyclical cash and liquid assets, up from 31% in last year’s second quarter. Almost half of those surveyed were CFOs who were also CPAs (the next-most-prevalent title was controller, at 22%), and 69% represented privately owned firms.

根据美国注册会计师协会的《工商业展望调查》，受访的1250个高级管理人员中，43%的人表示目前有“适量”的现金，而36％的人表示2012年第二季度的现金资产相比第一季度已增加了。同时他们还表示非周期性的现金和流动资产也在去年第二季度31％的基础上增加了。几乎一半的受访者是首席财务官同时也会计师，69％的人就职于私人公司。

But 24% of the total respondent base said they were hesitant to deploy their excess cash, an increase from 20% who felt that way last quarter. Only 12% said they would actually use it.

但受访者中24％的人表示不愿意用掉这些大量的现金，上一季度只有20%的人持有同样的态度。仅有12％的人表示他们会用掉这些现金。

The reluctance to spend cash stems from an overall negative take on the economy. The AICPA’s CPA Outlook Index dropped two points, to 67 from 69, from this year’s first quarter to the second. Similarly, expectations for revenue, profit, and employment growth slid this quarter, though they were essentially unchanged from last year.

这种不愿意用掉现金的现象来源于对整体经济的负面预期。美国注册会计师协会《会计师前景指数》下降了两个点，从今年第一季度的69下降到了第二季度的67。同样地，对本季度的收入，利润和就业增长的预期也下滑了，尽管和去年基本持平。

But not all is doom and gloom, according to Jim Morrison, CFO of plastics compounding firm Teknor Apex and chair of the AICPA’s Business Industry Executive Committee. He does not consider the two-point drop that dire, considering the index has dropped 9 to 10 points in some years.

美国材料商Teknor Apex公司首席财务官吉姆•莫里森认为并不是一切都那么沮丧和绝望，莫里森同时也是美国注册会计师协会的商业产业执行委员会主席。他认为下降两个点没那么可怕的，在过去几年里指数曾经下降过9至10点。

“We might have been in a holding pattern for a while, but we are going to resume growth,” Morrison says. “It may not happen right away. There’s still optimism that over the next year, we will be on a growth pattern rather than a downward spiral.” The AICPA’s findings back up that sentiment. More than 60% of senior-level CPAs in the survey said they expect their own companies to expand in the next 12 months.

“这种持有现金的模式可能已持续一段时间了，但是经济将恢复增长，”莫里森说。 “这可能不会马上发生。但是还是可以乐观地估计明年经济将开始呈现增长态势，而不是螺旋式下降。美国注册会计师协会的结果也支持莫里森的观点。调查对象中超过60％的高级会计师表示，他们希望自己的公司在未来12个月内开始出现增长趋势。

Respondents also showed a slight improvement in their ability to obtain the necessary financing to expand. While more than half viewed credit availability to be about the same, only 10% saw it as a barrier to a stronger liquidity position, down from 13% last quarter.

受访者也表现出他们获得必要资金的能力略有改善。尽管一半以上的受访者的信贷可得性保持不变，但是只有10％的受访者认为信贷可得性对于更强的流动性资金状况是个障碍，这个比例在上一季度占13％。

译者：孙莉