1997 Fiscal Year Final Research Report Summary
デリバティブの認識・測定と会計基準に関する計算構造論的研究
| Project/Area Number |
07630121
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | KYOTO UNIVERSITY |
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Principal Investigator |
FUJII Hideki Kyoto University, Graduate School of Economics, Professor, 大学院・経済学研究科, 教授 (80173392)
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| Project Period (FY) |
1995 – 1997
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| Keywords | Financial Accounting / Accounting Principles / Accounting Measurement / Financial Instruments / Derivatives / Transaction / Off-Balance Sheet Activities |
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| Research Abstract |
The literature on accounting and bookkeeping shows us that fundamental features of the double-entry bookkeeping system exist in the following points ; (1) to determine goods and proprietorship in business enterprises, (2) for this purpose to record systematically all explicit happenings affecting goods and proprietorship in business enterprises, (3) to keep these records through the use of double-entry technics based on systematic accounts, (4) to be inseparable with, or to include accounting.
With these features, the double-entry bookkeeping has been functioning as a system to determine earnings of monetary capital and to the extent that these earnings assume distributable profit it has been recording and calculating system constituting the basis of equity accounting.
But in order to recognize off-balance sheet activities like derivatives which are not acccompanied by past-determined cash flows, it will be necessary to modify the features of the double-entry bookkeeping mentioned above. From a structural view of the accounting system, the crucial point lies in how to treat surplus on revaluation of derivatives. If we treat it as a part of earnings, current earnings will contain surplus that can not be distributed to shareholders, which will check the function of equity accounting. If we incorporate it into equity of balance sheet, equity, core element in the double-entry bookkeeping system, will lose its proper meaning and will be a "trash basket"in accounting measurement.
To conclude from a viewpoint of accounting regulation, recognition and measurement of derivatives in financial statements will not be sought after, unless the benefits to be derived from that treatment exceed the costs associated with it.
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