The Comparation Of Old And The New Fair Value Accounting Standards And Its Application

With the development of the world economy, the fair value at the international accounting standards becoming increasingly prominent position, has extended the scope of application repeatedly. After China's accession to the WTO, the application of accounting called for further improvement of accounting standards in line with international standards is imperative. After careful study, the Ministry of Finance in February 15, 2006 announced a new "Accounting Standard for Business Enterprises - Basic Standards" in which assures fair value accounting as a measurement of one property clearly, and in 17 specific accounting standards in different the extent of use of measurement attribute, indicating that our country to the international convergence of accounting standards a substantial step forward. Comprehensive introduction of fair value is considered as "a major breakthrough in revolutionary", some scholars have predicted that it would become a "21st century model of accounting measurement".Because of relevance, fair value has advantages which reflect business results accurately, that are favored by the setters of international accounting standards and U.S. accounting standards. Then, what is the significance of the re-introduction of fair value measurement attribute in new Chinese Accounting Standards? What is the applicant situation of fair value measurement attribute in our country? What happened in practices? what impacts does it bring? These problems need to be examined and solved urgently. At the same time, combined with the current economic environment, the problems: what is the relationship between fair value measurement attribute and financial crisis and how to develop and improve the fair value measurement attribute in future, which are also necessary to be explored and studied at the moment..Around the central topic of Fair value measurement attribute development and improvement, in accordance with the "comparison to old and new criteriaâ†'reveal the progressive meaning of fair value—problems and roots in practical applicationâ†'solve problems " line of thinking, I'll focus discoursing the following three aspects. First, a more comprehensive definition of the concept about fair value. Analyzing and comparing Fair value measurement attribute to other four measurement attribute, we get the conclusions that fair value measurement attribute is a complex property. Through the comparison with level sub-division on fair value measurement attribute, finding out the differences, in order to understand the theoretical system of fair value more clearly.Second, compare the old with the new fair value measurement attribute. Choose and use representative of the four specific criteria in new criteria, analyze and compare with the old criteria, a clear understanding about the purpose of re-introduction of the new accounting standards of fair value measurement attribute, reveal the significance of its progress.Third, the analysis of applicant on fair value measurement attribute. The analysis on application of fair value measurement attribute by specific data and cases, reveals the existence of the problems, traces the reasons for the arising, puts forward suggestions to solving the problem.In order to develop and apply Fair value measurement attribute better, I think we should put forward to increasing the fair value level, the introduction of tripartite regulation, drawing on international advanced methods of opinion.