適用財務會計準則34及36號公報對於企業操作衍生性金融商品風險管理之影響

The Impact of SFAS No. 34 and No. 36 on Risk Management Practices of End Users of Derivatives

關春修(Lisa Kuang)

指導教授 ： 吳琮璠 博士

國立臺灣大學/管理學院/會計與管理決策組/碩士(2007年)

https://doi.org/10.6342/NTU.2007.00516

摘要

第二次世界大戰後，隨著浮動匯率制度的興起，各國進、出口商飽受匯率與利率波動之苦，金融市場在因應廣大需求下，為了克服各類價格風險，並有效管理這些風險，逐漸發展出衍生性金融商品(derivatives)，提供企業家作為一種避險的管道。然而金融創新商品不斷的出現，遠遠超過各國相關法規及會計制度修改之速度，因此在1990年之後，國際間陸續發生知名金融機構或企業因操作衍生性金融商品導致鉅額虧之多起案例 損，更導致企業與投資大眾蒙受嚴重損失。
在此情況之下，過去傳統會計界所主張的歷史成本制已無法提供資本市場所需的金融商品之攸關資訊，因此美國及國際之會計準則制定機構，對金融商品之會計處理前後制定相關規範。
台灣方面，根據中央銀行的統計資料，1998年至2006年八年當中，衍生性金融商品總交易金額成長高達5倍多，成長速度亦十分驚人。隨著國內衍生性金融商品交易市場之蓬勃發展，國內企業亦發生因衍生性金融商品之表達不完全，從而使企業管理當局得以掩飾不當操作之情事。
為了防止衍生性金融商品會計處理上的不完備，避免企業作帳掩飾大額虧損，隨著歐美相關公報之公布，財團法人中華民國會計研究發展基金會借鏡其經驗並參考國際會計準則公報第39號訂立，分別於民國92年及94年公布財務會計準則公報第34號「金融商品之會計處理準則」及第36號「金融商品之表達與揭露」並規定於95年起適用。此兩號公報對我國企業的影響可謂空前，凡持有、或發行金融商品之企業，除少數不適用者外，皆受其規範。
為了要對國內企業施行此兩號公報所產生之影響進行深入瞭解，本文參考 美國Association for Financial Professionals於2001年及2002年針對美國企業施行FAS 133前後之狀況所進行之問卷調查內容，以國內上市櫃及公開發行以上公司為主要樣本，然後再依國內實務情況加以修正之問卷內容進行深入調查研究，用以瞭解國內施行之狀況，更進一步比較台灣與美國在適用上影響之差異。
本文共分五章，內容概述如下：
第一章為緒論，包含研究背景、研究動機、以及研究目的。
第二章為文獻探討，首先概述衍生性金融商品之定義及其應用源起、企業操作衍生性金融商品所面臨之風險、國內外因衍生性金融商品引發之弊端、因應弊端而引發會計及財務制度上之改革，再者敘述國內34號與36號公報之內容，以及最後以表格呈現此34號公報施行前後於會計報表表達上之差異。
第三章為研究設計及方法，主要介紹問卷內容，問卷設計之概念與邏輯，同時說明問卷之樣本說明。
第四章為問卷結果分析與發現，主要針對回收之問卷結果，逐一分析國內產業之表現狀況。
第五章為結論與建議，綜合以上分析研究之結果為本研究找尋結論，同時提出建議事項。

關鍵字

會計準則34及36號公報

並列摘要

After the Second World War, along with the rise of the floating exchange rate, the import/export merchants suffered substantially from the fluctuation of the exchange rate and interest rate. In order to overcome the risk of pricing and effectively take control of the risk, the financial market gradually developed financial derivatives in response to the vast demand, thus providing a path to reduce this risk. However, the advent of numerous new creative financial products quickly surpassed the speed of revision of the related laws and accounting systems in each country. As a result, after year 1990, there have been consecutive events where the well known financial institute or industry suffered substantial loss as a result of using the derivative financial products. Furthermore, this also led to serious loss for the industry and investment individuals.
Under this circumstance, the historical cost principle from the traditional accounting system in the past could no longer meet the demands of related information with the need for financial products in the capital market. As a result, the accounting standardization in US and international countries started to set the norms for handling the accounting practice.
In Taiwan, according to the statistical data from the central bank, the derivative financial products grew five times during the eight years between 1998 and 2006. This growth rate was astonishing. With the popularity of the transaction of the derivative financial products, the enterprise management may be able to cover up some improper behaviors due to the inadequate expression of these derivative financial products.
To prevent the inadequate accounting treatment for the derivative financial products and to avoid the cover up of large amounts of accounting loss, the ROC Accounting Research and Development Foundation announced Statements of Financial Accounting Standards No. 34, “Financial Instruments: Recognition and Measurement,” and No. 36, “Financial Instruments: Disclosure and Presentation” in 2003 and 2005, respectively. These new accounting rules were effective in 2006. These accounting rules are based on the experience and reference to the International Accounting Standards No. 39. These two accounting standards will record impact on the enterprise in our country. All holders and issuers of the financial product industry are regulated by these norms except a few that do not fit these regulations.
In order to have a deeper understanding of the impact of these two accounting standards on the domestic enterprise, this essay makes reference to the content of the questionnaires from the US Association for Financial Professionals on the status before and after the implementation of FAS133. We based the samples on the research and study of domestic public companies and the content of the questionnaires according to the real domestic situations in order to understand the situation of its execution. Furthermore, we can compare the differences in this application in Taiwan and the US.

There are five chapters:

Chapter 1: Introduction. This includes the background, motivation, and purpose of this research.

Chapter 2: Document Research. Describe the definition and origin of the derivative financial products. The risk associated with the use of the derivative financial products, the irregularity in applying these financial products inside and outside of Taiwan, the accounting and financial reform in response to the irregularity from these products. Express the content of the announcements of SFAS No. 34 and No. 36 and use a table to compare the differences before and after the application of these two rules.

Chapter 3: Research and Design Method. Introduce the contents of the questionnaire, the concept and logic behind design of the questionnaire, and explain the questionnaire samples.

Chapter 4: Discovery and Analysis from the Results of the Questionnaires. Mainly based on the results of the questionnaires collected, analyze the domestic enterprise.

Chapter 5: Conclusion and Suggestions. Search for a conclusion based on the results of the above analysis, and propose suggestions.

Based on discoveries through the questionnaires, we came to the following conclusions:

並列關鍵字

The Impact of SFAS No. 34 and No. 36

參考文獻

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