| Summary: | 碩士 === 國立臺灣大學 === 財務金融學研究所 === 93 === According to “The Real Estate Securitization Act”, the real estate securitization system in Taiwan is divided into two types – Real Estate Investment Trust and Real Estate Asset Trust. Because the objectives of securitization for the two types should be in connection with buildings that already exist and have predictable cash flows, the development-type real estate securitization has not been allowed in Taiwan. According to a draft bill to amend some articles of “The Real Estate Securitization Act”, it defines development-type real estate or real estate-related rights and allows them to become securitization objects. The bill is predicted to be approved. Because there is not any relevant norm of development-type real estate securitization in Taiwan GAAP, I expect to build an
accounting framework for the new practice in this paper.
This paper consists of four parts, they are:
1. Motive and methods of this paper.
2. The primary content of this part is to provide an overview of development-type real estate securitization in United States, Japan and Taiwan.
3. The primary content of this part is to visit existing principles regarding development-type real estate securitization by analyzing International Accounting Standards, Financial Accounting Standards and Taiwan GAAP. Try to build a complete framework for relative accounting issues.
4. Conclusion and suggestion
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