不動產證券化依現行不動產證券化條例之規定,可加以區分為不動產投資信託與不動產資產信託兩種架構,由於兩者均是以已興建完成且有穩定現金流量的不動產為主要的證券化標的,所以現行法規並未開放將開發型不動產納入證券化的標的當中,有鑑於將開發型不動產納入標的範疇已成為目前修法的趨勢,且現行會計準則亦尚未對此部份進行規範,故希望藉由本論文,為將來具體完整之會計處理原則提供參考。 本論文共分四章 第一章 為研究動機及研究方法。 第二章 本章主要在介紹美、日及國內有關開發型不動產證券化之現況。 第三章 本章主要探討開發型不動產證券化相關議題之會計處理,經由國內現行規範,輔以國際會計準則及美國會計準則之規定,對相關會計處理建立架構。 第四章 結論及建議。
According to “The Real Estate Securitization Act”, the real estate securitization system in Taiwan is divided into two types – Real Estate Investment Trust and Real Estate Asset Trust. Because the objectives of securitization for the two types should be in connection with buildings that already exist and have predictable cash flows, the development-type real estate securitization has not been allowed in Taiwan. According to a draft bill to amend some articles of “The Real Estate Securitization Act”, it defines development-type real estate or real estate-related rights and allows them to become securitization objects. The bill is predicted to be approved. Because there is not any relevant norm of development-type real estate securitization in Taiwan GAAP, I expect to build an accounting framework for the new practice in this paper. This paper consists of four parts, they are: 1. Motive and methods of this paper. 2. The primary content of this part is to provide an overview of development-type real estate securitization in United States, Japan and Taiwan. 3. The primary content of this part is to visit existing principles regarding development-type real estate securitization by analyzing International Accounting Standards, Financial Accounting Standards and Taiwan GAAP. Try to build a complete framework for relative accounting issues. 4. Conclusion and suggestion