Accounting Research On Credit Asset Securitization

As one of the important financial products, Securitization of credit assets was born in the late 1960 s. It has obtained rapid development both at home and abroad. The business in our country was first experimented in 2005. As the first pilot unit, the China Development Bank and China Construction Bank released the Kaiyuan and Jianyuan products of credit asset securitization. Despite suspending of four years from 2008 to 2011, until the end of 2014, it has been issued 78 products since securitization of credit assets has been restarted which amount achieved 317.81 billion yuan. Especially in the past two years, our leaders and relevant regulators recommend repeatedly the development of the securitization of credit assets. There is no doubt that the business will have broad prospects in the future development.Because of the complexity of its business, the accounting problems of credit asset securitization has been paid close attention to in theory and practice. Especially the outbreak of Enron incident in 2001 and the subprime risk in 2008, we have fully realized the huge risk contained in the credit asset securitization. The defects of relevant accounting standard are exposed after the crisis. The terminal recognition of credit asset transfer, the conclusion of special purpose entity and the disclosure of credit asset securitization are controversial.This article first expounds the background and significance of accounting research on credit asset securitization and introduces the related literature at home and abroad. Secondly, the article explains the meaning of credit asset securitization and its participation along with trade structure. Afterwards it puts forward the accounting problems in the business. Thirdly, it emphatically analyzes the three questions one by one as the main body of the article. At last, it sums up the existing accounting problems of the credit asset securitization and puts forward some suggestions.Based on the international accounting standards and domestic norms, the content of the research has its theoretical basis. This paper uses the method of specification and clarifies accounting norms of credit asset securitization through induction and comparison. In addition, it connects with the practice to improve the persuasion.