Research On Evolution Of Fair Value Measurement

With the development of society and economy, the enterprise scale becomes more and more big and property relations become more and more complicated. The accounting information users display the character of diversification, so it put forward higher requirements of the accounting information disclosure. As we all know, in the knowledge-base economy times, economy environment has significant uncertainty. This requires that when accounting information is carried out, it must be according to fair value, providing society with more relevant and reliable accounting information. If we work according to fair value, not only the reliability and relevance of accounting information can be balanced, but also society and economy will develop more stabilized.Fair value has emerged as a hotspot in the international accounting field at present. Both the United States Financial Accounting Standards Board and the International Accounting Standards Board regard fair value measurement as an important research project and throw into large amount of manpower and financial resources to completely solve the problems in application of fair value measurement method in accounting practice. However, we have not in-depth discuss about the essence of fair value and its application. What's more, application of fair value measurement in the accounting practice also undergoes a tortuous and complex process. So, it's necessary to get a clear understanding of the essence of fair value and settlement the problems of operatability in fair value measurement mode. If so, we could not only clarify matters and get to the bottom of things in the theoretical studies, but also it has major guiding significance in the accounting practices.At first, it is analyzed the concept of fair and fair value in this paper, and then combined with the widely recognized definition of fair value, the theoretical base of fair value measurement model is discussed. In my opinion, complete information theory could not only provide a theoretical basis for the fair value measurement theory, but also support the fairness of fair value information with theoretical evidence. Property relations theory is to promote the application of fair value measurement. Owners of different property need large amount of information to make their decision, which requires accounting information, must be reported in accordance with fair value measurement. Accounting objective theory gives significant guidance of the fair value measurement. Accounting information based on fair value measurement is more relevant and reliable with accounting information users' decision-making. Accounting measurement theory provides the application of fair value measurement with the practice basis. It can indicate that feasibility and operatability exist in the practice of fair value measurement model. On the basis of the analysis of fair value measurement theory, I further explore the contents of the fair value of measurement model. The essence of fair value is the exit price which exists in an orderly transaction between market participants. Besides, the principle of fair value measurement, fair value hierarchy, principal or most advantageous market and valuation techniques take the first place in fair value measurement model.Having reviewed the development of society and economy, I summarize the historical course of searching after fair value measurement go though western mature market economy country, taking USA for example. And the course is labeled as bud, grows, parted application and all-sided application, in sum of four phases.Stone from other mountains can attack a jade. In order to provide reference and lessons for our country to adopt fair value measurement, this paper also inspected the application of fair value measurement model in accounting standards in the mainstream market economy countries in the world. In addition, the Accounting Standards for Business Enterprises have been issued in 2006 and applied in 2007 in our country. The latest progress is worthy of research. It's necessary to find out the characteristics in the process of application in our country.In final, in light of China's specific conditions, I make great efforts to find out the restraint factors that baffles the practice and application of fair value measurement. And then I want to give some advice in order to further improve and perfect the application environment of fair value measurement.