新会计准则下股指期货会计处理及其风险分析
本站原创 论文中文摘要：2006年2月《企业会计准则》正式颁布,标志着我国与国际会计准则高度趋同的会计准则体系正式建立。从2007年初开始,新颁布的企业会计准则在上市公司开始实行。随着2007年中国股市的大热,股权分置、利率市场化、汇率形成机制等重大改革稳步顺利推进,证券市场规模不断扩大,股指期货越来越受到大家的关注。在这一大的背景下,作者开始构思本文,如何运用新颁布的企业会计准则中相关准则对企业持有的股指期货合约进行会计处理,以及处理过程中所面临的风险,这两个方面是本文关注的重点。自从1982年美国推出世界上第一支股指期货以来,经过短短二十几年的发展,股指期货已经成为仅次于利率期货的第二大金融衍生工具。中国股票市场的发展也迫切需要一种能有效规避股票现货市场系统性风险的金融工具——股指期货。为此,我国一直在积极地进行股指期货的各项课题研究。股指期货的推行必然对参与交易的企业和组织等的会计工作提出更高的要求。如何对股指期货进行会计处理,本文基本考虑的是:参照新颁布的会计准则中有关金融工具的四项准则,并结合股指期货自身的特点。全文共分为八个部分:第一部分,绪论。介绍了选题背景及意义、国内外研究成果以及本文的理论基础和研究方法,为后文的分析奠定基础。第二部分,股指期货的基本概念。主要介绍了股指期货的相关的知识:第一节介绍了股指期货的概念;第二节介绍了股指期货的产生与发展;第三节将股指期货与一般商品期货进行对比,介绍了股指期货的特点;第四节对股指期货交易过程中一些重要的、常见的概念作以解释说明,如开盘价、当日结算价和成交价等;最后两节从整个资本市场和投资者的角度分析了股指期货的基本功能以及在中国发展股指期货的意义。第三部分,新准则下股指期货的会计确认。会计确认是进行会计计量、记录、报告的前提,所以在对股指期货进行会计处理时,首先要解决的就是股指期货的会计确认问题。股指期货作为衍生金融工具的一种,它具有衍生金融工具的三大特征,这些特征决定了股指期货确认的复杂性。股指期货的或有性与权责发生制下的可计量性、可靠性发生了冲突。这些都是以往准则制度下无法解决的问题,也给会计带来了操作的空间。新准则将股指期货为代表的衍生金融工具纳入表内确认,首次制定的关于金融工具的四项准则为股指期货这类的衍生金融工具的会计处理提供了制度上的规范,弥补了原有准则中这方面的空白。本文认为对股指期货的会计确认,就是将其确认为金融资产的过程。针对股指期货交易过程的特点,我们将其确认分为了三个阶段进行,在确认的过程要注意把握好每个阶段确认的时点。第四部分,新准则下股指期货的会计计量。会计计量是会计系统的核心问题,所以要研究股指期货的会计处理,对其计量问题的研究是非常必要的。在进行会计计量时,最重要的就是计量属性的选择。随着金融工具特别是衍生金融工具交易出现以后,从现实角度来讲,历史成本无法适应其特殊性质。作为衍生金融工具的股指期货是一种正在履行或尚未履行的合约,不像传统交易那样历经一个时点即可完成,所以使用新的计量属性——公允价值,能更好的提供有用会计信息。本文认为在公平和自愿条件下,市场是市场交易各方承认和接受的,并且取得相对容易,所以我们在对股指期货进行计量应选用市场来作为公允价值。对于股指期货的计量,同样也分三个阶段进行。在期货市场上,交易所每天发布的多种多样,在选择时我们一定要注意前后选择标准的一致性。第五部分,新准则下股指期货的会计记录。在新准则中,对金融资产和金融负债进行了分类,然后根据分类的不同进行不同的会计处理记录。我们对股指期货进行处理时,也应按持有合约的目的不同分为两类——套期保值合约、投机套利合约,分别进行会计记录。对于用于套期保值的股指期货合约,其意图是避免或冲销被保值项目所面临的风险,在会计上应重点反映避险的效果,所以在合约持有期间发生的变动都应归于被保值项目,与被保值项目的变动损益相配比;而投机套利的股指期货合约,其目的是获取利润,会计上应重点反映其获利的情况,根据新准则的分类,我们应将其划分为交易性金融资产,按照交易性金融资产进行会计记录。第六部分,新准则下股指期货的会计信息披露。会计信息披露要求企业财务报告应该向外界提供足够的信息,以利于报告使用者决策,而且这些信息应该与公司的经济事件具有一定的相关性。新会计准则对金融工具的列报和披露做了详细的规定,将衍生金融工具会计报表表外业务表内化。股指期货采用的是以小博大的保证金交易,因其具有杠杆性,所以实际交易损益一般比较大,这样不仅容易对金融市场稳定造成冲击,而且会给参与交易的企业和组织等带来风险。股指期货作为衍生金融工具的一种,其本质特征决定了它无法按照常规的会计处理方法进行核算,仅仅依靠传统会计报表体系是无法将其平时的盈利和风险安全反映出来,就必须在会计报表表内和表外同时进行信息披露。本文认为在表内表外披露的同时,我们应该加快表外披露的频率,加大表外披露的力度,相关部门也应尽快制定出台更为详细的规定,使其披露的方式、内容、次数有章可循。第七部分,股指期货会计处理操作实例。按照持有股指期货合约目的的不同,用举例来说明如何对套期保值和投机套利两类股指期货合约进行会计处理。第八部分,股指期货会计处理风险分析。这一部分分析了股指期货会计处理风险产生的基本原因,以及企业在对股指期货进行会计处理时,因为交易过程中市场机制的不完善,和会计准则自身的一些局限性而产生的风险。本文主要贡献之处在于:1.按照新会计准则的要求,对股指期货的会计处理进行了系统地研究。2.对股指期货会计处理过程中面临的风险进行了分析,据以给企业提出警示。本文的不足之处在于对股指期货交易过程中存在的实际情况以及可能出现的问题估计不足,这也是本文需要继续研究的方面
Abstract（英文摘要）： The Ministry of Finance published its 39 Corporate Accounting Standards (CAS) in Feb 15th 2006, and they’re effective from Jan 1st 2007. All public companies are required to apply the new accounting standards. Nowadays, the role and position of Chinese stock market is becoming more and more important in national economy. With the development of Chinese stock market and some economic reformations, more and more people pay attention to Stock Index Futures. Under this background, the author focuses on two facets: how to process Stock Index Futures with the new accounting standards, and some underlying risk in the process.Since being introduced in 1980’s, Stock Index Futures has become one of the most succesul financial derivatives after twenty years’ development. Releaseing Stock Index Futures will accelerate the development of Chinese capital market. However, Stock Index Futures puts forward higher request to the accountancy’s work of business enterprises and organizations etc. which participate exchanges. Among the 39 new accounting standards, four of them are closely related to the process of Stock Index Futures: the No. 22, the No. 23, the No. 24 and the No. 37 which together form the so called Financial Instrument Accounting Standards (FIAS). We can process Stock Index Futures according to FIAS.Structure of the paper:This paper is divided into eight chapters altogether. The structure and main points are listed as follow:Chapter 1: Prolegonmenon. This chapter mainly introuduces the background to the study, and some domestic and international research about Stock Index Futures and Financial Instrument Accounting Standards, which lays the foundation for later analysis.Chapter 2: The Introduction of Stock Index Futures. The author mainly introduces the definition, characteristics and the functions of Stock Index Futures. Chapter 3: The Accounting Recognition of Stock Index Futures. The accounting recognition is the first step of the accounting process. Stock Index Futures is one of the financial derivatives. Its characteristics make the accounting recognition complicated. The author thinks the accounting recognition of Stock Index Futures is to confirm it as financial property. We can divide the process of Stock Index Futures into three stages to recognise.Chapter 4: The Accounting Measurement of Stock Index Futures. The accounting measurement is the core step of the accounting process. With the development of the economic, there are more and more financial instruments. It is a challenge for original cost which can’t match the accounting report users’requirement. In the new accounting standards which issued in 2006, fair value measurement has been used in the accounting calculation. It is not only according with the mainstream of the international accounting development, but also fit to the development of Stock Index Futures.Chapter 5: The Accounting Record of Stock Index Futures. In the new accounting standards, the accounting record is different, on the basis of categories of financial property. Main functions of Stock Index Futures are hedging and arbitrage. So how to record hedging of Stock Index Futures and arbitrage is different with the new accounting standards.Chapter 6: The Accounting Disclosure of Stock Index Futures. Stock Index Futures has some characteristics such as complex structure, quick variation, large volume of trade and coexisting of high risk and high profit. So tightening the information disclosure of Stock Index Futures is put forward.Chapter 7: The Accounting Process of Stock Index Futures Exchange through a Concrete Example. The author analyses the accounting process of Stock Index Futures exchange through two concrete examples, hedging of Stock Index Futures and arbitrage.Chapter 8: Risk Analysis of Stock Index Futures’Accounting Process. The author analyses essential risk of Stock Index Futures, and risk which participant enterprises must face in the accounting process, because of the practical situation of Chinese market, and limit of Accounting Standards.Contribution of this paper:1.This paper systemically studies how to process Stock Index Futures with new accounting standards.2.The author analyses Risk in Stock Index Futures’accounting process, in order to caution business enterprises which participate Stock Index Futures exchanges.
论文关键词： 股指期货；会计处理；风险分析；
Key words（英文摘要）： Stock Index Futures；Accounting Process；Risk Analysis；
Abstract（英文摘要）： The Ministry of Finance published its 39 Corporate Accounting Standards (CAS) in Feb 15th 2006, and they’re effective from Jan 1st 2007. All public companies are required to apply the new accounting standards. Nowadays, the role and position of Chinese stock market is becoming more and more important in national economy. With the development of Chinese stock market and some economic reformations, more and more people pay attention to Stock Index Futures. Under this background, the author focuses on two facets: how to process Stock Index Futures with the new accounting standards, and some underlying risk in the process.Since being introduced in 1980’s, Stock Index Futures has become one of the most succesul financial derivatives after twenty years’ development. Releaseing Stock Index Futures will accelerate the development of Chinese capital market. However, Stock Index Futures puts forward higher request to the accountancy’s work of business enterprises and organizations etc. which participate exchanges. Among the 39 new accounting standards, four of them are closely related to the process of Stock Index Futures: the No. 22, the No. 23, the No. 24 and the No. 37 which together form the so called Financial Instrument Accounting Standards (FIAS). We can process Stock Index Futures according to FIAS.Structure of the paper:This paper is divided into eight chapters altogether. The structure and main points are listed as follow:Chapter 1: Prolegonmenon. This chapter mainly introuduces the background to the study, and some domestic and international research about Stock Index Futures and Financial Instrument Accounting Standards, which lays the foundation for later analysis.Chapter 2: The Introduction of Stock Index Futures. The author mainly introduces the definition, characteristics and the functions of Stock Index Futures. Chapter 3: The Accounting Recognition of Stock Index Futures. The accounting recognition is the first step of the accounting process. Stock Index Futures is one of the financial derivatives. Its characteristics make the accounting recognition complicated. The author thinks the accounting recognition of Stock Index Futures is to confirm it as financial property. We can divide the process of Stock Index Futures into three stages to recognise.Chapter 4: The Accounting Measurement of Stock Index Futures. The accounting measurement is the core step of the accounting process. With the development of the economic, there are more and more financial instruments. It is a challenge for original cost which can’t match the accounting report users’requirement. In the new accounting standards which issued in 2006, fair value measurement has been used in the accounting calculation. It is not only according with the mainstream of the international accounting development, but also fit to the development of Stock Index Futures.Chapter 5: The Accounting Record of Stock Index Futures. In the new accounting standards, the accounting record is different, on the basis of categories of financial property. Main functions of Stock Index Futures are hedging and arbitrage. So how to record hedging of Stock Index Futures and arbitrage is different with the new accounting standards.Chapter 6: The Accounting Disclosure of Stock Index Futures. Stock Index Futures has some characteristics such as complex structure, quick variation, large volume of trade and coexisting of high risk and high profit. So tightening the information disclosure of Stock Index Futures is put forward.Chapter 7: The Accounting Process of Stock Index Futures Exchange through a Concrete Example. The author analyses the accounting process of Stock Index Futures exchange through two concrete examples, hedging of Stock Index Futures and arbitrage.Chapter 8: Risk Analysis of Stock Index Futures’Accounting Process. The author analyses essential risk of Stock Index Futures, and risk which participant enterprises must face in the accounting process, because of the practical situation of Chinese market, and limit of Accounting Standards.Contribution of this paper:1.This paper systemically studies how to process Stock Index Futures with new accounting standards.2.The author analyses Risk in Stock Index Futures’accounting process, in order to caution business enterprises which participate Stock Index Futures exchanges.
论文关键词： 股指期货；会计处理；风险分析；
Key words（英文摘要）： Stock Index Futures；Accounting Process；Risk Analysis；