当前,无论在西方国家,还是在我国,应收票据的贴现计算公式都存在一个明显的问题,那就是以到期值作为计算贴现利息的基础。在西方,票据多为附息的,其贴现利息=面额×(1+票面利率×期限)×贴现率×贴现期限。在我国,票据多为不附息票据,其面额就是到期值,贴现利息=面额×贴现率×贴现期限。从理论上说,计算利息应以现值为基础。以到期值为基础计算贴现利息,实质上是 At present, both in the Western countries and in China, there is a significant problem in the formula for discounting bills receivable, which is based on the maturity value as the basis for calculating discounted interest. In the West, bills are mostly interest-bearing, and their discounted interest = denomination × (1 + coupon rate × term) × discount rate × discount period. In China, bills are mostly non-interest-bearing bills, the denomination is the maturity value, discount interest = denomination x discount rate x discount period. In theory, calculating interest should be based on the present value. Calculating discounted interest based on the maturity value is essentially