The Research On The Application Of Fair Value In Property Rights Accounting

The close and original relationship between the two of accounting and property rights is inherent. In other words, "the history of accounting development is one pair of legitimate property rights to define and protect the economic interests." In the 90s 20th century, the integration of accounting and property rights of thought quietly rising, and its unique charm to attract a large number of young accounting academics. By Wu Zhongxin, represented, the accounting academics as the starting point of property rights economics, the basic theory of accounting fruitful exploration, property accounting, as a new accounting school came into being. Property rights accounting school thought:The fundamental mission of the development and change in accounting is to reflect the ownership structure, to reflect the relationship between ownership and maintenance of property rights will, which in turn must be based on value basis. The specific use of their accounting expertise to the process of commercial property is essentially accurate measurement of the property rights and the process of accountability identified.The core of accounting is measurement, and measurement attribute is the core of accounting measurement. Accounting attributes is a reasonable choice and effective use of asset valuation and revenue accounting to determine completion of the two missions critically. How to measure the valuation of property, existing property rights to the history of accounting theory is basically the default cost-based measurement properties. However, in the complex environment of modern market economy, the continued use of historical cost, loss of property is obviously an objective, fair, lack of relevance and authenticity, not only the definition of property rights will lead to deviation, so that property cannot achieve accounting objectives, but also so that the "fiduciary duty of accounting to lift the protection of property rights," an empty promise.Modern enterprises should not only financial reporting services for creditors; shareholders should also be to include stakeholders, including service. Defining and protecting property rights need to provide a basis of accounting transparency, relevance, fairness and reflect the authenticity of the accounting information. The fair value is a composite of the accounting measurement attributes, is based on the present value and the value of accounting measurement is based on the realization of value. It is with the market economy, for the present and future, facing the uncertainty of the market, making a useful goal, as opposed to historical cost and other properties, and the fair value measurement can provide a more fair, true, and economic decision-making and more relevant accounting information to better define property rights for the modern enterprise and protection services. Historical cost and therefore fair value measurement attribute giving way gradually into the fair value measurement attributes for granted.Fair value measurement application in China has experienced the introduction, withdrawal and re-introduction of three stages.2006, accounting standards issued by the Ministry of the biggest highlights of the current fair value is the reintroduction of the property. Theoretical fair value of the property re-introduction of broadening horizons of accounting theory, and practice fair value mature technology laid the practical foundation of accounting theory of property rights. This as an opportunity for us to research the application of fair value in property rights accounting.In this paper, related literature review and sum of property rights and fair value accounting on the basis of theoretical analysis, specification and empirical research using a combination of methods, in-depth analysis of fair value accounting of the property; by the overall analysis, industry analysis and individual case studies of fair value accounting in the application of property rights problems, and propose appropriate solutions; the final accounting of property rights in the future the application of fair value measurement to make Outlook. Paper is divided into five parts, summarized the main contents are as follows:The first chapter is an introduction, describes the research background and significance, of the contents and methods, this innovative research, and property rights at home and abroad about fair value accounting and the latest research results were reviewed.The second chapter is the fair value of property accounting and an overview of the theory, first the concept of property rights was retrospective, from the Economics of Marx note that among the "rights" ideology to the West property rights theory of modern economics, the last of China's domestic theory sector did explain the definition of property rights; then the meaning of property accounting, property accounting equation, and property accounting and reviewed the difference between traditional accounting and analysis; Finally, the meaning of fair value and fair value measurement of properties and other properties of five the aspects of relations between the fair value measurement is introduced.The third chapter is the main content of this paper, the value of corporate property rights from the recognition and measurement, the value of creditor claims and the recognition and measurement of residual claim value recognition and measurement of the three major aspects of fair value accounting in the application of property rights in-depth analysis. Qualitative analysis and quantitative analysis methods to our Shanghai and Shenzhen A-share listed companies from 2007 to 2009 of the relevant information and data, in the A-share listed companies based on the overall analysis, respectively, according to industry classification fair value measurement of the various projects in various sectors of the application, combined with data from studies on individual cases, layers of depth, of the current mode of fair value recognition and measurement of value of property rights status.The fourth chapter questions and suggestions, combined with the preceding chapter on the fair value of property rights in China in the Application of Accounting Research, summed up the current fair value of property rights in the application of accounting exist four major problems: First, the fair value environmental constraints applied by the market, and second, the application of fair value measurement project makes the volatility of the financial statements increased the fair value is measured three companies to manipulate profits may be reduced to a tool for earnings management, the four made the process of fair value exists " not fair. " This paper made the targeted recommendations on these issues.Finally in this paper made future prospects on the application of fair value in property rights accounting.