Accounting Research In Forward Exchange

With the development of futures market in china, more and more enterprises participate in forward exchange, correspondingly, our government strengthened regulatory system on futures market, and accounting supervisal plays more and more important role on the regulation of futures market.Compared with dynamic futures market, future accounting theories and practical research in china are both out of date, and financial derivatives including forward exchange possess quite different features, their accounting features and characters become quite different. Current financial & accounting theories and framework can hardly content those features and characters, mainly on accounting confirmation, measurement and disclosure.Extensive an intensive research have been carried out to forward exchange by both international and Chinese accounting professionals, and some regulatory policies about forward exchange accounting have been published, but regulatory policies on forward exchange accounting in china fundamentally on the basis of traditional finance and accounting concept or framework. Research an discussion have been carried out about the regulations in this article, and some different opinions are offered from both theoretical and practical aspect.At the opening phase of futures pact, financial asset and financial liabilities are confirmed according to the values of futures pact respectively, and the judgment mainly depends on the standard, which pact venture and return have already been completely been transferred to enterprises on the condition of participation of forward exchange house. This redefined the principle of traditional finance and accounting from both intension and extension, which may produce both theoretical and realistic meaning for research on other financial derivative tool accounting. At the same time, fair value in measurement features are adopted on the measurement of financial assets and liabilities.At the carrying phase of futures pact, the loses and wins caused by changes of pact prices should be confirmed at the current time, and do not need to wait to the evening...