China's Asset Securitization Sponsors Research On Accounting Issues

With the introduction and development of asset-backed securitization inChina,it is necessary to frame some accounting standards , which can providea suit of guidance for it. This thesis analyzes the accounting recognition,measurement, disclosure and consolidation about the asset backedsecuritization from the view of the transferor. Moreover, the author putsforward some suggestions on the foundation of SPV, the enactment of theaccounting standards and also the supervision of accounting in the currentsituation. This thesis is divided into four chapters: The first chapter is the accounting recognition of the securitized asset.This part focuses on the recognition of the "true sale", the transferor'srecognition of the securitized asset and the impairment of the asset. Theauthor formulates the basic theories of accounting recognition from itsmeaning, criteria and bases, which make the foundation for the discussion ofthe securitized asset;After that, the author discusses "true sale" and thetransferor's accounting recognition of the securitized asset. The second chapter is about the accounting measurement of thesecuritized asset. The measurement and recognition correspond closely.Firstly, it shows respectively three different regulations on the measurementof the securitized asset;they are FASB, IASC and our country, and thendiscusses about the accounting measurement from the selling price, originalmeasurement, continual measurement, impairment measurement andreversion of the impairment.The third part is about the disclosure of the transferor's disclosure ofaccounting information. After discussing about the principle and contents ofthe disclosure, the author emphasizes on the research made by FASB andIASC on the accounting disclosure and consolidation of the statements of theasset-backed securitization. Then, he makes an investigation on how todisclose the accounting information from the transferor's view in China.The fourth part is the policy suggestion. This part is based on the lastfour discussed ones, and it mainly gives suggestions on the foundation of SPV,the enactment of the accounting standards and also the supervision ofaccounting.