The topics of fixed income securities paper include the definition of asset securitization, the theoretical basis of asset securitization and the definition of accounting elements related to asset securitization. With the increasing prosperity of financial innovation derivatives, the traditional concept of assets has become more and more vague, and it is impossible to truly and fairly reflect the financial situation of enterprises by using this broad concept. Therefore, the new accounting standards internalize the off-balance-sheet business of financial derivatives, which has changed the long-standing practice that derivative financial instruments are only disclosed off-balance-sheet in China.