An Empirical Study: Impact Of The List Company Finance Based On Fair Value Measurement

The Ministry of new accounting criterion issue on February 15, 2006, and take the lead in implementing within the range of listed company since January 1, 2007. A great light spot of new accounting criterion introduces fair value measurement basis to a great extent, it greatly influence the accounting criterion system. To this fact of the application of fair value in our country, this text does not want to discuss again, we care about which kind of influence on financial affairs of Company the new accounting criterion will bring on earth. Primary goal of the accounting criterion system is to rely mainly on investor, the information that the accountant offers should have dependence, dependability, should make policy and serve for investors' financial affairs, so the basic idea of accounting criterion system construction is and company's financial affairs were closely related. How it influence and which degree of influence the fair value measurement will produce to company financial affairs, this text attempts to make answer on An Empirical basis.This text amounts to six chapters. Chapter 1 introduces the purpose and Methods of this research mainly and studies the current situation both at home and abroad; Chapter 2 discussed the integration of company's accounting and financial affairs from two aspects (basic idea and concrete accounting criterion) under the fair-value measurement basis and draw out Conclusion that the influence of the new accounting criterion(fair-value basis)on the company's financial affairs is Omni-directional , we must consider such influence synthetically. Chapter 3 constructed the company's financial evaluation index system; we choose 23 financial indexes from six respects as per share, debt paying ability, business efficiency, profit ability, growth ability, financial structure, cash flow, etc.then we constructed a comprehensive evaluation index W through several Positive research Method, such as principal component analysis, the analytic hierarchy process and so on. Chapter 4 we given a overall appraisal on the influence of the new accounting criterion (fair-value basis) on the company's financial affairs. We analyzed the relevant financial indexes and comprehensive evaluation indexe of Listed Company of our country during 2005 to 2008(the period of when introduce fair-value measurement), the research result turned out: there were no fierce changes Happen during these years which gave a falsification to the expectation, that fair value measure foundation do not have significance counted on company's financial affairs. Examine concretely, we found that except five financial indexes (Cash current liability rate, assets profit rate , assets net interest rate , return on net assets and cash content in Each share ),there had not significance Change happen on other financial indexes though they have change in various degree. Certainly, accounting information user should pay close attention to the change of company assets quality , cash flow and profit level etc., because they had brought remarkable changes on five financial indexes above; chapter 5 we given a appraisal on the influence of the new accounting criterion (fair-value basis) on the personal share company's financial affairs. We analyzed some listed companies Specialy; these companies were influenced by fair-value greatly during 2005 to 2008, as for Research approach, we mainly adopt graphic presentation, tabulating, etc. The research result turned out: some company's financial affairs were affected greatly by fair-value; however, the remarkable change of the personal share does not influence the overall and steady trend of listed company of our country. Chapter 6 conduct the conclusion, that fair-value measurement is a foundation of accountant's measuring; it is just a effective way to reflect the financial affairs of the company fairly, But not the determine fator on the financial quality of the company. The world financial crisis that U.S.A.'s loan causes is not a accounting problem, fair-value is just catch the more serious western capitalist country's economic problem which hid behind the loan and reflect it, In the long run , may have avoided a greater disaster, It might not be a bad thing to them. The economic of our country at present is different to that of western countries', so the result that the fair-value reflected is different from them. Finally, the article provides enlightenment and suggestion to the future development.