Study On The Relationship Of The Fair Value Measurement Attributes And The Relevance And Reliability Of Accounting Information

With the pace of reforming and opening up, accounting reformes deepenedly.Accounting scholars and research institutions have been eager to further improveaccounting standards, have been working to promote the substance of accounting standardsas international accounting standards. Recalling the history of the development of China’saccounting, it developed slowly. the characteristics of the new accounting standards iscautious and modest implementating the fair value measurement attributes. In addition, theglobal financial crisis triggered by the U.S. subprime mortgage crisis has also pushed thefair value measurement attributes on the focus of contradictions, the fair value measurementattributes become a hot topic and the talk of gossip. In this basic, I choose to study on therelationship of the fair value measurement attributes and the relevance and reliability ofaccounting information, the purpose is to make a new awareness of the nature of the fairvalue measurement attributes and to make us Understand the fair value measurementattributes from the connotation to denotation.In the second part of this context, it introduces a number of definitions of fair valuemeasurement attributes, including defined by the International Accounting Standards, theUnited States, China, Britain and Canada. Contrast to these definitions, we can grasp fromthe connotation of the fair value measurement attributes. In the philosophy of Marxism, theunderstanding comes from practice, in turn, it can guide practice. So any social practiceneed to be guided by theory, In the third part of this paper, it describe the theoretical basisof the fair value measurement attributes and recognize generation and development of thefair value measurement attributes. According to the related papers of Professor Xie Shifenthere are many relevant theories, in this section it only describes some fair value theories,for example, efficient market theory, value theory, signaling theory, decision-useful conceptand measurement concept; Next, it introduces the relationship of the fair value and relevance of accounting information and the relationship of the fair value and reliability ofaccounting information. In the forth Chapter of this paper, we choose A-share listedcompanies ’s relevant data of2006~2009as our sample, we divide the fair value into threelevels, each level fair value correspond different accounting information, we compare thedifferent levels accounting information horizontally, and then compare the different years ofthe same level of fair value accounting information longitudinally. The results showed that:the levels is different, then the result is different, the first level of fair value accountinginformation is more relevance than the other levels of the fair value, the reliability is higher;with the continuation of the time, the relevance and reliability of accounting informationreceived by each level fair value improves. Theoretical analysis and empirical results provethat the reliability of accounting information can not be fully guaranteed.In the end of this chapter, we take a series of measures to achieve the reliability andrelevance of the fair value and to implementate the fair value measurement attributessmoothy.