Research On The Fair Value Measurement Based On Theory Of Enterprise Contract

Enterprise is an incomplete contract in which the contractors achieve different individual utility by mutual cooperation of inputting cost.Accounting is the supervision mechanism of enterprises fulfilling contracts,by which the terms and subjects of the contracts,the rights and responsibilities of contracting parties are confirmed,measured,and reported.Accounting measurement is the core of the whole accounting activities,it runs through the development of enterprises,and reflects the beneficial relation and interaction between the contracting parties.Fair value is a new character of accounting measurement which protects the fairness of contractors.We should focus on the contractual environment in the process of researching fair value measurement.Studying the relationship between fair value measurement and firm contract is not only theoretical significant but also far-reaching practical in the special background of our country.From the perspective of contract theory,production,development,application of fair value measurement are studied thoroughly in this thesis.In the first place,the contract motive about the production of fair value measurement is learned.After pointing out the limitations of historical cost,this part focuses on an opinion that fair value measurement is an inevitable demand for the revolution of accounting measurement,which benefits to the functioning of firm contracts.In the second place,it is analyzed that the development of fair value measurement contributes a lot to firm contracts,and fair value measurement plays an important role in maintaining the fairness of firm contracts and easing conflicting interests between contractors.In the third place,the enlightenment of application about fair value measurement in our country is put forward by studying the current status of application and contract environment in abroad.At last,concrete application of fair value measurement is analyzed in the view of contract in our country. It is indicated that specific deficiencies exist in our country,which help managers to do adverse selection objectively and impair the balance of interests and original intention of fair value measurement.The new edition of accounting standard provides enterprises opportunities to choose,in which fair value measurement may be used to achieve the maximization of self-interest by managers.Therefore,the signing of the relatively complete and standardized reward contract and debt contract,perfecting the internal management environment as time as strengthening the exterior supervision,reducing the choice space of accounting standard are effective methods to promote fair value measurement to serve our firm contract better.