企業金融資產證券化資訊揭露評析
Date Issued
2005
Date
2005
Author(s)
陳靜慧
DOI
zh-TW
Abstract
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.
Subjects
金融資產證券化
financial asset securitizations
Type
other
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