The Application Of Fair Value In Accounting Standards And Its Enlightenment

After 80s of 20 century, the development of financial instruments has pushed forward the research and application of fair value. Fair value often appears in accounting standards and practice of some countries as well as the shift of attitude for fair value in world main standards setting organizations.Does the use of fair value smoothly? Are there any other problems which should be researched and resolved? How should we do to be good use of it? These questions will be answered in the paper one by one. The aim of this thesis is to recall the history of the use of fair value, tire the skeleton of the application, conclude the use experience of fair value, and put forward the good countermeasure of how to use it.First, the paper clarifies the concept of fair value, and recalls the related documents of use of fair value in accounting standards at home and abroad. Then it probes the basic theory of fair value, it suggests that measurement perspective is the key to the use of fair value after analyses its theory progress, and put forwards my opinion on some controversial questions about the recognition, measurement and report of fair value. After that, the paper introduces the experience of use of fair value in accounting standards from abroad. Following discussing the use of fair value phase to phase in our country, at the end of the paper, it proposes the idea of how to well use of fair value on the basis of the use experience.The thesis's innovations includes: (1) we recalled and tired the related documents on use of fair value; (2) we probe the theory of fair value such as entry price and exit price, market participants and transaction parties, the principal market or the most advantageous market, transfer or settlement of liability, in-use valuation premise or value in use, day-one gains and losses, etc; (3) we proposed the good suggestion on how to use fair value at home an abroad.