A Study Of Fair-value Accounting Reform In China

In 2006,the accounting reform embodies the Chinese international convergence of accounting standards; the theorists and practice give more attention to the reform.After the crisis of 2008,fair-value accounting is created controversy. This paper mainly analyzes fair-value accounting reform from two aspects:effect theoretical logic and the user survey analysis. And then put on the proposals about fair value accounting reform.The historical cost of traditional accounting obviously could not cope with the problems,such as the disclosure of derivative financial report, The historical cost of financial reports is powerless to prevent and dissolve the financial risk.Since 1980s, the western financial market expands quickly, and many innovative financing tools or corporate finance new method are produced. Since 1980s, the accounting recognites the essential attribute-- asset valuation must conform to the future economic benefits, Earnings outlook is confirmed the theoretical basis of the fair value application. To provide useful accounting information of the decision to users is the-ultimate aim of financial reports, The rapid development of capital market and its dominance in resource allocation, prompt the establishment of the target by financial report in commitement responsibility primarily into decision-making availability. The fair value accounting adapts to the change of the financial and accounting reports target,and reflects user-oriented accounting innovation.Through dynamic, reflect the true reflection on real significance.Therefore its relevance and reliability don't conflict. Based on the theoretical interpretation of fair value measurement, define necessity of the fair value accounting in theory.In the world financial crisis at 2008, Fair-value accounting cycle is controverted, because of the effect magnifies the financial crisis, further dampened investor confidence.But the theory research and experience proved that the fair value measurement is not the main reason of the financial crisis, therefore, fair-value accounting is preserved finally. This paper basically analyzes the fair value of the reform in our country through questionnaire survey and analysis; and give the fair value of effect of reality and reform the design theory of comparative analysis. and in small range of questionnaire,this paper insists fair value in practice is feasible. Therefore we should continue to insist on fair value accounting reform.There is a certain gap between our country as a new market-based economy and the more mature and the international market economic environment. Now there are differences of existing limits in the fair value of the effective use of market economy, such as real obstacle is insufficient effective, accounting supervision system is weak, the fair value measurement to operate, etc. Because of the problem of actual application, we must continue to deepen the reform of the fair value, and try to promote and cooperate the environmental change of fair-value accounting reform.China is not possessed by fair-value accounting conditions.So in the accounting standards, fair value does not have a leading system of. Accounting standards is still at historical cost,and moderate use fair value.In the current reality of market economy environment, it is impossible that all the accounting elements are measured by fair value.The fair and equitable value measurement model will coexist with historical cost measurement model. And for a very long period,the historical cost should remain in the basic framework, a combination of accounting information, and the fair value added of measurement attributes coexist in the future will be the trend of financial reports.