The Frontier Issues Of Financial Intermediary Service Accounting Methods Based On Indirect Calculations And China's Practice

In the financial system,there are fund surplus units which have idle funds and hope to get interest,as well as the fund shortage units which have not yet met the demand.Banks based financial institutions provide a mechanism to adjust both surplus and shortage of funds.In this mechanism,financial institutions obtain the loan interest income charged to borrowers,and pay to depositors deposit interest expenses.In consideration of that financial institutions rely on interest income difference to cover operating costs and profits,compilers of the system of national accounts(SNA)inferred that financial institutions carrying out "a special service indirectly paid by the net interest income and interest expense",and named it as "Financial Intermediate Services Indirectly Measured(FISIM)".From the 1953 to the 2008 version,SNA specially provide the accounting method of FISIM output in the process of evolution,and also promote constant prices FISIM output accounting and imports and exports of FISIM accounting methods.FISIM accounting is still facing problems of evolution.Intersecretariat Working Group on National Accounts(ISWGNA)concluded that FISIM accounting method demand both clear theoretical connotation and application characteristics of a "Robust Methodology for FISIM".At present,scholars have formed a number of research results on the front of the frontier problems,but it is difficult to reconcile among the points of view."Robust Methodology for FISIM" is still to be promoted.In China,FISIM accounting methods closely follow international adjustment,but still have huge difference,and have difficult in international comparison.Exploring China’s "robust FISIM accounting method",is also the development trend of our FISIM accounting research.This paper takes the FISIM accounting method frotier issues and the practice of China as the theme,and follows the main line of "frotier problem analysis,frotier problem research and practice in China".The introduction describes the research background and significance of this paper,combing the domestic and foreign scholars on the FISIM accounting method of the research process and the latest development.The first chapter is the evolution of the FISIM accounting method and the frontier issues.This chapter closely relate to the special characteristics of indirectly payment,as well as the original intention that SNA to avoid the operating surplus of financial institutions and increase the value of negative,combined with the existing research on the calculation method of FISIM reflect the practical effect of the system,the definition of FISIM,SNA on the evolution of accounting subject,accounting scope in order to construct a theoretical model,consistent basis,analytical FISIM output accounting method,constant price FISIM accounting method,accounting method and evolution of import and export FISIM in SNA in the process of revision.Combined with the latest research,this chapter analyzes the connotation of the formation of frontier problems,especially in the special frontier to carry out the significance of the research on the design of risk adjusted reference rate accounting model,accounting period adjustment reference rate model,constant price FISIM accounting method combined with model,imports and exports FISIM accounting model for second to the fifth chapter research.The second chapter is the comparison and reconstruction of the reference interest rate risk adjustment in FISIM output accounting.In order to solve the "what kind of interest rate as the FISIM output accounting reference rate",this chapter uses the risk-adjusted reference rate model,the general method and possible inductive reference interest rate risk adjustment,analyzing the existing number of reference interest rate risk adjustment,try to summarize differences of different risk adjustment method,and based on the re examination of many differences the problem still exists,put forward a new method-"the transfer of risk adjustment".This chapter uses the data to carry out the application of the characteristics of the test.Test results show that the new risk adjustment method is practical,stability,and international comparability.The third chapter is the comparison and reconstruction of the reference interest rate term adjustment in FISIM output accounting.In order to solve the problem of "what kind of interest rate reference portfolio as FISIM output accounting reference rate",this chapter uses the term adjusted reference rate model,the general method and possible induction period of interest rate adjustment for reference,analysis of the adjustment of the existing number of reference term,try to adjust their differences induction in different period,and based on the to explore the differences,and proposes a new method-"Equilibrium(Gap)term adjustment" method,and using the European data and Chinese data were carried out using feature test.The results show that the method is also practical and international comparability,and its stability is more prominent than other methods.The fourth chapter is the constant price FISIM combination accounting method designing and the application of the method of mechanism.This chapter summarizes the basic method of three kinds of constant price FISIM accounting,and through the theoretical connotation of comparative methods and application characteristics,proposed that the combination method is the development direction of future research,but what kind of combination can play advantage is a problem.In order to promote the joint use of law to carry out research,this chapter analyze a number of existing research,the theoretical connotation of comprehensive judgment method and application characteristics,and the theoretical connotation of different types of deposits and loans in a specific method and application characteristics.In view of the combined use of a variety of combinations of existing law,this chapter is based on that theory connotation and application characteristic angle to maximize the design of a combination of theory of law mechanism,the mechanism based on recommendations for different types of deposits and loans at FISIM selection output method respectively,and expand the application in china.The fifth chapter is the research on the international consistency check of imports and exports FISIM.This chapter divide imports and exports FISIM accounting international consistency research into imports and exports FISIM accounting reference interest rate choice and data supply to expand the dual problem.In the reference rate selection,single transaction and transaction situation in China are recommended in the reference rate;in the data supply,SNA and BPM6 on import and export FISIM accounting data sources based on the regulations,carry out the balance of payments statistics of account construction and applied research,in more practice meaning,use of monetary and financial statistics,the bank for International Settlements regional banking statistics,as well as many trading countries under the imports and exports of the reference rate is recommended,the assessment of the imports and exports of FIS IM exploration.The sixth chapter is the research of FISIM accounting in china.This chapter provides an overview of the development of China’s FISIM accounting research context,the current use of methods and the direction of reform.As a contrast to the accounting results of different research methods,this paper uses the frontier method,our method and 2008 SNA in China FISIM output,the use of frontier method,our method and 2008 SNA method of accounting in China at the constant price FISIM output,use the assessment of accounting of our country imports and exports FISIM output,and the use of different methods to analyze and contrast the accounting results.The research of this chapter provides the possibility to promote the renewal of the FISIM accounting method in our country,and provides some evidence for the calculation results of the method.The seventh chapter summarizes the main conclusions of this paper,and points out the need to further improve and in-depth study of the problem.