| Financial swap, which arises in the 1980s, develops rapidly. People who require capitals and assets managers choose to use financial swap because it has advantages of avoiding interest rate and exchange rate risk, reducing financing costs, broaden the financing channels and avoiding foreign exchange controls. However, as one of the financial derivatives, financial swap has its own features. There are new challenges for the traditional accounting recognition, measurement and disclosure. Therefore, we focus on the financial swaps as our study. We hope to make a little contribution to improve the financial derivatives accounting system.This thesis is made up by five parts. The first part made a research on financial swap for its theoretical worth and practical worth. We decided the method and content of the research by introducing the status of the research domestic and abroad. The second part made a research on the features and problems of financial swap, and introduced standards of FASB, IASB and CAS for financial swap. The third part made a research on accounting practices of financial swap of public banks. We studied the development, application and accounting treatment of financial swap of public banks. The forth part analyzed the problems of accounting treatment of financial swap. The last part gave the solutions of these problems.We can make a conclusion that the China Accounting Standards, which are rules of accounting recognition, measurement and disclosure of financial swap, are implemented well by public banks of China. But there are still some problems which are need to be improved. For instance, when we use fair value to measure financial swap, which method should we choose? Moreover, there are problems of valuation techniques and disclosure of financial swap. For these problems, we try to propose the solutions. |
