The Financial Derivative Accounting

The financial derivative accounting is the systematic theory on the financial derivativeaccountancy, which takes the traditional theory of accounting and the colorful financialinnovation as background, based on the accounting concept of the financial derivative.Through discussing the recognition, measurement, disclosure and administration of thefinancial derivative, we constitute relatively integrated the financial derivative accounting,which has higher theoretical value and significant practical value. In the 70's of 20th century the bretton woods disorganized, and the world-class mineraloil crisis burst, also the international financial contest intensified. In order to control the riskand survive the intense marketplace contest, The financial organization had to adjust thetraditional financial instrument and innovate itself, and then the financial derivative came intobeing when the times required as the burgeoning significant measure of risk administration.To study on the financial derivative definition, this paper summaries the origin and thedevelopment of the world financial derivative. After reviewing the definition of the financialderivative at home and abroad, this paper defines the financial derivative as follows: thefinancial derivative is a contract to confirm the right and the obligation of a certain financialmerchandise on hand some time in the future, it exists on the basis of basic financialinstrument, and features as leverage and credit exchange. When the exchange comes intoexistence, it forms not only a financial asset of one enterprise but also a financial liability ofanother enterprise. The financial derivative accounting is one of the ten accounting difficult problems in the21st century, When this paper carries on research to the financial derivative accounting, It islaunched mainly from the challenge to the traditional accounting of the financial derivative,the recognition of the financial derivative, the measurement of the financial derivative and thedisclosure of the financial derivative. In the respect of the challenge to the traditional accounting of the financial derivative,according to the traditional accounting, the accountancy cycle process consists of recognition,measurement and disclosure. Recognition chiefly resolves the problem when some itemsreally go into the accounting system, and the core viewpoint of the traditional accounting 4山东农业大学博士学位论文recognition is the happening rules of the right and the obligation; Measurement chieflyresolves the problem how much some items go into the accounting system with, and the coreviewpoint of the traditional accounting measurement is the history cost rule; Disclosure is theinterpretation and the expressing to the financial report, and the core viewpoint of thetraditional accounting disclosure is the financial report. Recognition, measurement anddisclosure are wholly based on the deal that happened in the past, but don't reflect the deal ormatter that will happen in the future, and don't post any risk and uncertainty yet. The financialderivative has arriving tense and high risk. When the financial derivative is being signed, thetwo deal parties only undertake the obligation, enjoy right, but not having the economicbenefit alternation. The basing of the financial derivative is not the deal or matter happened inthe past but the fulfilling situation of the contract in the future. At the same time, the financialderivative has the higher risk, so the future economic benefit is difficult to calculate no matterin time or money. So the financial derivative deal has 20 years history, but it is always theoutward professional work of the accountancy in the history, the available accountancytechnique can not enlists it in the financial report now, and can not account the risk and profitof the financial derivative. Yet the effect on the company of the financial derivative islong-term and great, and e...