Research On Application Of Fair Value Measurement Attribute In Accounting Standards For Business Enterprises

On February 15, 2006, a new system of Chinese accounting standards for business enterprises was issued. It was viewed as beginning of a new round of accounting reform in China. In that reform, the use of fair value was to be seen as a significant step, meanwhile, it marked that there was substantive convergence between China's accounting standards and international accounting standards. We know that fair value is a complex accounting measurement attribute, which is market-based, future-oriented, and faced to the risks and uncertainties, therefore, the fair value accounting information is better for decision-making by corporate under modern market environment. Now, China has been vigorously cultivating unified, open, competitive and orderly modern market system, at the same time has also been actively participating in the global economic competition. In this context, promoting the use of fair value will have a great significance in developing China's accounting standards and socialist market economy.This thesis holds that the corporate accounting standard is the most direct and relevant accounting environment for use of fair value. In view of this, the thesis takes fair value measurement attribute as the object of study in corporate accounting standards, after analyzing the situation of the application of fair value in the accounting standards, we found that there are many shortcomings in China's accounting standards system about fair value. These shortcomings include the confused concept of fair value, the lack of recognized standards of fair value, the short of standardized measurement of fair value and excessive conditions of use of fair value. These deficiencies have seriously hampered the amendment, supplement and perfect of accounting standards. To this end, the thesis proposes some improvements in the application of fair value. To make new progress in construction of accounting standards, then to promote the process of extensive use of fair value measurement attribute in China.