派生金融商品 去來構造와 會計處理의 國際比較 = Trading Structure of Financial Derivatives and International Comparison of Financial Instruments & Futures Accounting

다국어 초록 (Multilingual Abstract)

This study contains understanding of futures, option & swap trading structure in order to find out disputed points of financial instruments accounting. Besides, several foreign countries' disputed points and practical questions of financial instruments accounting have been compared with that of our country's.
The accounting problems of financial instruments and futures are summarized as follow:
(1) how to recognize and measure financial instruments trading gains or losses, (2) a point in time and amount of recording related assets and liabilities, (3) how to disclose it's transaction information, (4) whether it is feasible or not hedge accounting.
The recognition criteria of derivatives trading gains or losses are「market value criteria」and「settlement criteria」. This two criteria take different approaches to the determination of trading gains or losses. The former is adopted in America, England, Canada, Singapore, etc. The latter is adopted in Japan, Germany, Denmark, etc. In view of derivatives trading characteristics, it is proper that「market value criteria」shoud be generally accepted. According to it's legal form, related assets and liabilities could not be recorded until derivatives contracts were executed. According to it's economic substance, related assets and liabilites could be recorded when derivatives were entered into contracts or could be disclosed by the notes to the financial statements.
If derivatives accounting is depended upon「market value criteria」, it is required that contracts bearing firmed trading or prearranged trading characteristics should be disclosed with the way of accounting treatment. If derivatives accounting is depended upon「settlement criteria」, it is required that the balance of outstanding futures contracts should be disclosed. Unless it is disclosed, the trading parties will be allowed achieving off-balance-sheet financing.
The accounting challenges are to develop special or different accounting(hedge accounting) that addresses these issues and then to specify the conditions under which this hedge accounting is appropriate. If specified criteria are met(reduction of risk, designation, effectiveness and so forth), gains or losses on the hedging instrument are recorded at the same time and in the same manner as the losses or gains on the hedged item. If the hedging instrument doesn't meet the specified criteria for hedge accounting, it's accounted for separately at the value with gains and losses recorded currently in income.
After due consideration of above discussed financial instruments accounting problems, the comprehensive accounting standards of financial derivatives suitable for our country's actual circumstances should be arranged.

목차 (Table of Contents)

• Ⅰ. 序論
• Ⅱ. 派生金融商品 去來構造의 現況
• Ⅲ. 派生金融商品 會計上의 論点과 現行基準
• Ⅳ. 派生金融商品 會計處理의 國際比較
• Ⅴ. 結論 및 向後 展開方向
• 參考文獻