The Research On Application Problems Of Fair Value In New Accounting Standards

Fair value is the hot issue of research in accounting field. Since the 1970's especially 1990's, fair value measurement has an extensive application in International Accounting Standards and American Accounting Standards. Chinese Accounting Standards has been introduced fair value measurement since 1997. We have experienced three stages of advocating, avoidance and re-introduction. There are a large number of fair value measurements in the new Accounting Standards which implemented in Jan.1st, 2007. The research on fair value in our new Accounting Standards will help to the international convergence and better play its role. This paper, from the theoretical issues of fair value, analyzes the connotation and relationship between other measurements attributes of fair value. Then it introduces the application of fair value in International and American Accounting Standards and its enlightenment to China. Finally, some problems and countermeasures have been put forward in practical application of fair value, based on the introduction about application and influence of our new Accounting Standards.