| Summary: | 碩士 === 國立臺灣大學 === 會計學研究所 === 104 === The measurement of financial instrument confused scholars and accountants because of its complexity and diversity. Especially after 2008 financial crisis, it’s more and more necessary to modify the current impairment model to overcome its defects exposed in the crisis, among which deferred impairment loss recognition and pro-cyclical effect are the key problems. According to the research conducted in this paper, it is obvious to see that China''s corresponding impairment standard has encountered the same problems as well after we follow the international accounting standard in 2007. Expected credit loss model will pose a great effect on China''s accounting standard and practice. This paper deals with the problem of financial asset impairment model in a normative way, combined with simulation study, statistical analysis and comparative analysis, and analyzes the reasons and contents of the impairment reform on a basis of the latest international publication.
The research design of this paper is through the way of introducing topic, analyzing issue and solving problem. The topic-introducing section consists of the first and second chapters. The first chapter makes a general introduction of research background and reviews previous researches, the second explores the theoretical foundation of financial asset impairment study, and both of which draw forth the main topic of the paper and clarify the research line. The issue-analyzing section includes the chapter three, which analyses the current situation and existing problems of Incurred Credit Loss Model and explains the reasons of the reform. The problem-solving section is made up of the chapter four, five and six. The chapter four introduces the international moves on financial assets impairment，reform process, and current achievements, which reflects a process from ideal to practical, from cooperation to disagreement. The chapter five mainly simulate a case of bond, which compare the results between the Incurred Loss Model and Expected Loss Model. Meanwhile, revealing the advantages and disadvantages of Expected Loss Model. The chapter six illustrates the limitation on application of expected credit loss model in China and then provides advices.
Last, it can be concluded that expected credit loss model does have its advantages over the current model, but China’s current capital market, risk management and rating system limits the application of the new model, and will cause a large amount of implementation cost. Consequently, it’s necessary apply the new model discreetly.
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