The Problems And Improvements Research Of The Fair Value Measurement Under The Financial Crisis

When the attribute of fair value measurement is used more and more in accounting practices and well received, it was pushed into the air waves with the global financial crisis resulted from the subprime crisis,And an argument about attribute of fair value measurement began violently in the financial sector. Though the argument was over for a long time, there were still some problems to be dealt with. Relative accounting organizations are seriously researching and revising the regulations and guidelines for the fair value, many countries are also discussing the reform of fair value tensely. The research and application of fair value in China is not as good as the Europe and America. As the"model measurement in the 21st century", the fair value has its own superiorities, so it is very significant for our accounting field, even for our country to use the new successful experience of other countries in the fair value.On the basis of former researches, this paper applies the normative theory into the analysis of the fair value measurement under the financial crisis, the aim is to find out the problems of fair value measurement and propose the relevant improvements. Firstly, it uses the economics game model to analyze the argument about fair value briefly and uniquely. Then it fully analyses the problems in the measurement according the process: the obtain of fair value before the measurement, the manipulation while the measurement and the effects after measurement, specially analyses the Procyclicality and Blackole Effect systematically and roundly. Accordingly, it proposes feasible improvements to the problems. It starts with the fair value under the financial crisis and concludes the application of fair value in China. At last, with the Chinese circumstances, it analyses the indication of the fair value measurement to improve the measurement of it.The main innovations of this paper are: application the Game Model into analyzes the features of argument about fair value; a comprehensive analysis about the Procyclicality theory, the Blackhole Effect theory and then proposition of the improvements; summation of the inspiration of fair value measurement in China.