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从中航油事件看衍生金融工具及其风险研究(1)

2015-04-29 01:21 【摘要】20世纪80年代至今，金融创新以风起云涌之势席卷了整个国际金融市场，而各种各样的衍生金融工具，更以其不同于传统金融工具的特性，成为现代金融市场上举足轻重的组成部分。金融工具既是重要的避险工具，同时又是巨大的风险源。如何建立包括衍生金融工具的会计规范在内的监督管理体系，已成为国际社会共同关注的课题。
从国际会计准则委员会到各国会计准则制定机构，直至学术界，都不遗余力地对其会计确认、计量和报告方式进行探讨，不断产生新思路，充实着会计理论框架。2003年12月17日国际会计准则理事会(IASB)对IAS39进行了修订，进一步确定并全面推行对衍生金融工具进行全面公允价值计量的模式。我国在2006年2月也颁布了四项与衍生金融工具会计处理相关的新准则。
本文对衍生金融工具的会计确认、计量、信息披露问题以及在实务中所面临的风险进行了分析和研究。文章通过对中国航空油料股份有限公司因炒作石油期权亏损5.5亿美元这一案例的分析，提出了衍生金融工具可能出现的问题和面临的风险。文章对衍生金融工具在会计处理时所面临的风险进行了深入的分析，并尝试提出了一些应对此类风险的途径。 关键词： 衍生金融工具 金融工具会计准则 风险 ABSTRACT
In the late 1980s, financial innovations in a surprised development swept the entire international financial market, and its derivatives, which are different from traditional instruments, became the most important part of modern financial market. Financial instruments are risk diversification instruments, nevertheless, they are big sources of risks, too. How to set up the supervision and management systems for accounting practices including financial derivatives is international focus.
From International Accounting Standards Commission (IASC) to the authorities for accounting principles in each nation to the academy, they are doing their best to identify, to measure, to report financial derivatives, fortunately with never-ending new approaches being contributed to the frame of accounting principles. On December 17, 2003, International Accounting Standards Board (IASB) amended IAS39, furthermore to make sure the model of fair-value measurement for financial derivatives is generally implemented. In February 2006, the Chinese Financial Department also put forward new standards about financial derivatives. （科教论文网 lw.NsEac.com编辑整理）
This paper is a normative study about the recognition, measurement and disclosure of the derivatives. It focuses on characteristics of derivative, and analyzes the accounting risk in the face of derivatives. By presenting the case of Singapore Subsidiary Company of China Airline Oil lost 550 million dollars in opportunistic futures of petroleum, the paper suggests some solutions in the accounting process of derivative financial instruments. The paper discusses the method to avoid the related risk, and gives some advice on how the parent company and member enterprises design the internal control system in order to manage the risk. Keywords: derivative financial instruments; accounting standard of financial instruments; risk 目 录
一、 前言--------------------------------------------------1
二、 文献综述----------------------------------------------1
三、衍生金融工具概述---------------------------------------2
四、中航油事件及其风险分析---------------------------------4