| Fair value in our country has experienced a repeated process from scratch, and then abandoned, to being picked up again. February 15th 2006, the new accounting standards promulgated. The highlight is the reuse of fair value, which has expanded the scope in 1998. Chinese enterprises accounting standards reflected in one of the key measures to achieve convergence with international accounting practices in the policy options of confirming -upholding the principle of historical cost, while the large scale introduction of the fair value measurement. Well, compared to the mode of cost measurement in main status, whether the fair value can response of economic business more accurately? What obstacles will be encountered with its own limitations, especially in our country, which market economic system needs to be further improved? What remains to be done with this measure? This article undertakes the studies basing on these ideas.This article begins with the development process of fair value both at home and abroad and related theories. It analyzes three aspects necessity of promoting the use of fair value. It also summarizes and analyzes the various criteria about the fair value in "new corporate accounting standards". And then, it analyzes according to a list of different types of industries with the fair value of the issues in China's Listed Companies 2007 annual financial report, and certificates China's listed companies application of fair value in practice. It finds a "disjoint" phenomenon in a practical application and accounting standards and requirements. Faced with the phenomenon occurred, the author studies on a deeper level, and find some reasons can affect the ultimate fair value obtain reliable. Finally, for those factors, it offers relevant measures to obtain reliable fair value from both outside and internal in the hope of the "disjoint" phenomena to be improved, playing a certain role in promoting the application and development of fair value. |
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