Study On The Measurement Of Liabilities' Fair Value At The View Of Debtor's Credit Standing

In the knowledge economy, the economic environment fluctuates violently. The book value of accounting entity's economic resource based on the historical cost can't reflect its market value. A kind of economic value that can reflect real condition of enterprise resource and abandon the historical cost comes to birth. That is fair value.Fair value is the recent focus in international accounting field. However, present researches mainly concentrate on the theories and methods of assets. But academic world has not clearly understood some questions till now, such as"what is the fair value of liabilities","what different problem with measurement of assets will be faced when measuring fair value of assets?"Especially the researches are seldom from the perspective of measurement for liabilities'fair value. The thesis researches from the perspective of relationship between the credit standing and the fair value of liabilities, which is the most important difference between measurement of assets and liabilities. First, the thesis introduces the theoretical origin of fair value, and gives the identification of liabilities'fair value. Second, the thesis gives the reason to why the fair value of liabilities should be included the influence of debtor's credit standing. In the meanwhile, the method of how to measure the fair value of liabilities has been discussed. The thesis creates the method that how to adjust the discount rate and cash flow according to debtor'credit standing, and creatively deduced VaR model to measure the fair value of liabilities. At last, the thesis gives the feasibility analysis to the method that used to measure the fair value of liabilities, which is included the influence of debtor's credit standing. Meanwhile, the thesis gives some advice to the measurement of liabilities'fair value.