企業金融資產證券化資訊揭露評析

陳靜慧(Ching-Hui Chen)

指導教授 ： 劉啟群

國立臺灣大學/管理學院/會計學研究所/碩士(2005年)

https://doi.org/10.6342/NTU.2005.00106

摘要

本研究先討論金融資產證券化之意義及其參與機構並分析金融資產證券化過程中可能產生之資訊揭露議題，包含了會計準則之相關規定、報表表達及附註揭露等部分。接著探討美國財務會計準則公報第140號與我國財會公報第33號公報之相關規範，並比較其差異性。第四章則是以美國執行金融資產證券化之企業為觀察對象，並將觀察架構作一彙總說明；第五章則是將此觀察結果以表格的方式，作彙總整理，並提供企業資訊揭露方式之建議。最後，提出本研究觀察之結論。本研究之觀察結果有以下幾點：
一、 大部分的企業都會在年報中的管理階層討論段中說明證券化交易之情況；年報中的財報部分，有些企業會選擇在重要會計政策彙總項說明，有些則是設立一專門附註說明證券化交易概況，有些企業則同時在重要會計政策彙總項及專門附註揭露項下說明。
二、 大部分的企業揭露證券化交易之比重多為2∼3頁；其中金融業的平均比重較大，幾乎都有3∼4頁。
三、 大部分企業在重要會計政策彙總項目下僅使用一小段說明證券化交易。
四、 大約有80%以上的企業選擇以專門附註的方式，來揭露證券化交易的資訊，主要都是按照公報中的揭露項目來逐一說明。
五、 美國SFAS 140號公報並無硬性規定公司關於證券化資訊揭露的方法，因此各企業的揭露方法都不大相同。
六、 各企業中，幾乎都會使用一到二個表格來輔助說明證券化揭露的內容，以產業來比較則是以金融業所使用的表格數目比重最多。

關鍵字

金融資產證券化 ； 資訊揭露

並列摘要

This study first discusses the meaning of financial assets securitization, what kinds of institutions to participate in the securitization process,and then analyzes the issues involved with information disclosures of financial assets securitization in the enterprises. These issues include the statement of financial accounting standards, financial reporting and disclosures. The main statements of fianacial accounting standards being examined in this study is FASB No.140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities”. In addtion, the ROC Statement of Financial Accounting Standards No.33 is compared with FASB No.140. After examining the statements, this study also observes several enterprises’ annual reports to find out if they execute the securitization transactions and what kinds of ways to be used to disclose the securitization information. This study uses tabulations to organize these securitization information and provide some suggestions in the forms of information disclosures. Finally, some conclusions are proposed:
1. Most enterprises disclose the securitization informations in the Management’s Discusssion and Analysis in the annual reports; some of them choose to explain the informations in the Disclosures of financial statements, especially in the parts of Significant Accounting Policies and Specialized Notes.
2. Most enterprises use two or three pages to discuss the securitization information on average. In contrast, firms in the finance industry tend to disclose more detailed information than other industries. The mean of pages related to the securitization information in the annual reports are between three or four.
3. The enterprises which disclose the securitization transactions informations in the Significant Accounting Policies just use a paragraph to describe.
4. There are 80% enterprises in our sample disclosing the information in the specialzed notes in the Disclosure of financial statements, and they usually disclose the items in the FASB No.140.
5. The FASB does not require enterprises to use any specific format or content in the financial accounting standards. As a result, many enterprises use different formats to disclose the securitization information.
6. Almost every enterprise uses one or two tabulations to explain the securitization information. On average, the enterprises in the finance industry use the most tabulations in their financial statements.

並列關鍵字

financial asset securitizations

參考文獻

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