Study On Fair Value Application By A View Of International Comparison

In more than ten years, fare value is the heat issue and a difficult problem in the international accounting circle. An active research has been implemented by IASB and FASB. Since the 1990s', viewed from the angle of the direction of which the IASB and FASB strive for and the orientation of the financial accounting, not only do regulations making organs apply fair value measurement to the financial instrument in a whole and thorough way, but the application of regulations to other projects also embodies the vicissitude of historical cost measurement toward fair value measurement. Meanwhile, regulations making organs devote to realize the conformity of the fair value measurement.Since the concrete accounting standard of the people's republic of china appeared firstly in 1997, fair value became an accounting issue attracted much attention. However, compared with the brisk study and application of fair value of the west countries, current fair value study of our country is still limited within the academic circle, much introduction was made to foreign theories, deep study of the issues was very little. The application of fair value in our country has experienced ups and down. New accounting standard was promulgated by Finance Ministry in February 15, 2006. The fair value was used in the new standard again; moreover, it enlarged the application field. Along with the economic globalization and development of accounting international coordination, the widely application of fair value in our country is unavoidable. It is the significance of this thesis about how to utilize the international researching result and guide and appraise the study and application of the fair value in our country.This thesis makes a deep theoretical research on the basic theories of fair value, difficult issues of fair value and market conditions of fair value through the comprehensive way of induction and comparative analysis. The fair value satisfiesthe accounting objective of modern accounting------the requirement ofdecision—making efficiency concept, meets the concept of economic income, conforms to the theories of the future accounting recognizance. The requirement of fair value to the market conditions is not so high, not just in the active market can we get it, it is an appraisement based on the market information. The development of china's financial market and the breakthrough of fair value measurement technology establish a curtain basis for the application of fair value in china. Secondly, this thesis comparatively analyzes the status quo of the fair value application of the international accounting standards in china and world, finds out that it is the world tendency to apply the fair value measurement, but in china it is still the tendency to apply the historical cost measurement. At last, this thesis proposes some suggestions to the fair value application in china. We should correctly recognize the questions concerning fair value; presently we should adopt the co-existent model of the application of historical cost and fair value measurement, actively establish the state-level market data base, strengthen the study of fair value theory and perfect the outside environment of the fair value application.