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標題: | IAS 32負債及權益分類之研究 Study on Classification of Liability and Equity under IAS 32 |
作者: | 郭庭銨 Ting-An Kuo |
指導教授: | 蔡彥卿 Yann-Ching Tsai |
共同指導教授: | 劉心才 Hsin-Tsai Liu |
關鍵字: | 金融負債,權益工具,2018 DP,IAS 32,可轉換公司債, Financial liability,Equity instrument,2018 DP,IAS 32,Convertible bond, |
出版年 : | 2023 |
學位: | 碩士 |
摘要: | 國際會計準則第32號「金融工具:表達」(International Accounting Standard 32 Financial Instruments: Presentation, IAS 32)中,某些規範缺乏清晰之理論根據及詳盡之應用指引,而造成實務上金融工具分類不一致。2018年7月,IASB發布了具權益特性之金融工具討論函(FICE Discussion Paper, 2018 DP),對金融負債及權益工具提出新的分類原則及表達與揭露之規定,目標為因應IAS 32遭遇之挑戰,並尋求初步意見。
本論文整理了IAS 32及2018 DP之規範,分析兩者分類結果之異同,並對2018 DP提出回饋與建議。本論文亦探討實務上存有爭議之金融工具分類議題,並根據IAS 32與2018 DP之規範進行深入分析與提出建議。六項研究議題之研究結果分述如下: 1.列舉各類金融工具於不同作法下之分類結果 研究結果顯示,某些金融工具於2018 DP之規範下,造成了與IAS 32不同之分類結果,例如遞增股利率之非累積特別股,因其符合金額特性,應分類為負債。惟此作法可能造成企業於無法支付股利認列鉅額負債,而使財務狀況急速惡化,且負債之分類也將造成反直覺之會計效果。 2.對2018 DP 每章節問題之回覆 本論文同意IASB所提出金融負債分類之時間特性,惟對金額特性之評估存有疑慮。金額特性將導致特定類型金融工具之分類由權益轉為金融負債,這些分類變化可能會導致市場混亂。且金額特性中「可用經濟資源」之概念與目前IAS 32較具體之術語有相當之差異。因此,該概念可能於實務上引起新的不確定性。 3.IAS 32 「固定換固定(fixed for fixed)」之問題 本論文認為IASB於2018 DP所提出之分類條件「無法避免交付獨立於企業之可用經濟資源金額之合約義務」相較於IAS 32更為明確,其未使用「固定換固定」之字眼,避免造成財務報表編製時可能之誤解及誤用。本論文亦建議IASB應針對IAS 32第16段規定之「另一金融資產」新增更明確之應用指引以避免爭議。 4.半獨立衍生工具之分類議題 半獨立衍生工具為2018 DP中首見之術語,除IASB列舉之金融工具案例外,無法確定其餘類似之金融工具是否符合半獨立衍生工具之定義。本論文建議, IASB未來於檢討與修訂時,對衍生工具之淨額係獨立或半獨立於企業可用之經濟資源,提供更詳盡明確之指引。 5.海外可轉換公司債之分類議題 於IAS 32之規定下,海外可轉債以非功能性貨幣計價,故持有人要求轉換時,公司債將轉換為變動股份,而被分類為負債,造成反直覺之會計效果。而2018 DP試圖解決該不合理之會計,將符合條件之半獨立衍生工具計入其他綜合損益,以與企業之損益表區分,惟此作法下,可轉債中之轉換權仍會因公允價值波動而影響權益。本論文建議,IASB得授權企業於提出合理佐證之條件下,得自行決定計價之外幣是否為獨立變數,以緩解分類為負債造成之問題。 6.瑞士信貸銀行或有可轉債之分類議題 研究結果顯示,當瑞士信貸銀行或有可轉換公司債(Contingent Convertible Bonds, CoCo Bond)能夠轉換為變動數量股份時,其於財務報表中即屬於負債,惟CoCo Bond投資人實際之求償順位卻不如權益,承擔更多風險。本論文建議IASB重視此議題之嚴重性與潛在影響納入考量,並重新檢討金融負債「固定換固定」之認列條件,建立更合理明確之分類規範。 International Accounting Standard 32 Financial Instruments: Presentation (IAS 32) lacks clear theoretical foundations and comprehensive application guidance for certain specifications, resulting in inconsistent classification of financial instruments in practice. In July 2018, International Accounting Standards Board (IASB) issued Discussion Paper: Financial Instruments with Characteristics of Equity (2018 DP) to propose new classification principles and presentation and disclosure requirements for financial liabilities and equity instruments to address the challenges encountered with IAS 32 and seek preliminary feedback. This paper summarizes the regulations of IAS 32 and 2018 DP, analyzes the similarities and differences in their classification outcomes, and provides feedback and suggestions on 2018 DP. The paper also explores controversial issues in the classification of financial instruments in practice and conducts in-depth analysis and recommendations based on the regulations of IAS 32 and 2018 DP. The research findings on the six research topics are summarized as follows: 1.Analysis of classification outcomes for different types of financial instruments under various approaches The research findings indicate that certain financial instruments result in different classification outcomes under the regulations of 2018 DP compared to IAS 32. For example, non-cumulative preference shares with increasing dividend rates should be classified as liabilities because they meet the monetary characteristics. However, this approach may lead to significant liabilities recognized by the entity for dividends that cannot be paid, resulting in a rapid deterioration of the financial position and counterintuitive accounting effects. 2.Comments on questions in each chapter of 2018 DP This paper agrees with the timing characteristics proposed by IASB for the classification of financial liabilities but has concerns about the assessment of monetary characteristics. The monetary characteristics could result in the reclassification of certain types of financial instruments from equity to financial liabilities, which could cause market confusion. Moreover, the concept of "available economic resources" in the monetary characteristics differs considerably from the more specific terminology in IAS 32. Therefore, this concept may introduce new uncertainties in practice. 3.The issue of "fixed for fixed" condition in IAS 32 This paper believes that the classification criterion proposed by IASB in 2018 DP, "an obligation that cannot be settled with a variable number of the entity's own equity instruments whose value is independent of the entity's available economic resources," is clearer than that of IAS 32. The avoidance of the term "fixed for fixed" prevents potential misunderstandings and misapplications during the preparation of financial statements. The paper also suggests that IASB should provide clearer application guidance for the provision in paragraph 16 of IAS 32 regarding "another financial asset" to avoid disputes. 4.The classification issue of partly independent derivatives "Partly independent derivatives" is a term introduced in 2018 DP and besides the financial instrument examples listed by IASB, it is uncertain whether other similar financial instruments meet the definition of partly independent derivatives. This paper suggests that in future revisions and reviews, IASB should provide more detailed and specific guidance on whether the net amount of derivatives is independent or partly independent of the entity's available economic resources. 5.The classification issue of foreign currency convertible bonds Under IAS 32, foreign currency convertible bonds are denominated in a non-functional currency. Therefore, when the bondholders request conversion, the bonds are converted into variable shares and classified as liabilities, resulting in counterintuitive accounting effects. 2018 DP attempts to address this unreasonable accounting treatment by including eligible partly independent derivative instruments in other comprehensive income to differentiate them from the income statement of the entity. However, under this approach, the conversion rights within the convertible bonds are still subject to equity fluctuations. This paper suggests that IASB could authorize entities to independently determine whether foreign currencies should be treated as independent variables, provided there is reasonable supporting evidence, to address the issues caused by classification as liabilities. 6.The classification issue of contingent convertible bonds of Credit Suisse The research findings indicate that when contingent convertible bonds (CoCo Bond) of Credit Suisse are convertible into a variable number of shares, they are classified as liabilities in the financial statements under IAS 32. However, the claim priority of CoCo Bond investors is lower to that of equity, exposing them to higher risks. This paper recommends that IASB give due consideration to the severity and potential impact of this issue and reevaluate the recognition criteria for financial liabilities in terms of "fixed for fixed" to establish more reasonable and explicit classification standards. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/88146 |
DOI: | 10.6342/NTU202301654 |
全文授權: | 同意授權(全球公開) |
顯示於系所單位: | 會計學系 |
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