| As one of the new developing financial derivatives, swap came into being at the beginning of the 80s of the 20th century. Swap has so many functions such as avoiding risks, escaping the exchange control, reducing the financing cost and administering asset-liability management that it has become one of the most extensive financial derivatives. Since the end of the 80s of the last century, swap has developed rapidly in the developed countries, and the market for swap has grown with even more explosive speed. The widespread application of swap in enterprise cause the research on swap accounting appears especially importantly. Swap accounting is one of the difficult problems in accounting. Our research on swap accounting emphasizes its challenge to traditional accounting theory and the accounting treatment including accounting recognition, accounting measurement, accounting disclosure, etc. In order to calculate the swap in accounting statements, we should reexamine and reconstruct the conceptual framework of accounting elements and revise the definition of asset and debt. The discussion of swap pricing model eliminate the technical barrier of use the fair value measurement. By comparing measurement models including the historical cost, mixed measurement and fair value, we conclude that fair value is the best model for swap accounting measurement. We think that we'd better disclose swap accounting information both inside and outside the accounting statement. Since swap in our country still is at the start stage ,in the procedure of our research on swap accounting, we have to achieve the fundamental research in advance to the practice, specially have to explore the fair value to swap accounting 's application condition in our country, construct the swap accounting system that apply to our country.This text is divided into 5 chapters. Chapter 1 introduces the research background and the meaning of the text; Chapter 2 gives the meaning of swap, sketches in its economics principle, development course and application in enterprises; Chapter 3 concerns the accounting confirmation and measurement of swap, and suggests how to improve the elements of the accounting statement, introduces the procedure for swap confirmation, compares various kinds of measurement models, and proposes using fair value to measure the swap; Chapter 4 explains how to disclose the swap including every project revealed, and presents the approach of disclosing swap accounting information both inside and outside the accounting statement; Chapter 5 puts forward the idea that isto set up the swap accounting in China. |
