The Research On The Influence Of Accounting Measurement Attributes To Define Property Rights

Clear property right is the premise for market transaction, and it is necessary to define and protect property rights. The article's innovation which is of theoretical and practical significances is that it expounds systematically how to define property rights from the perspective of accounting measurement attributes.This paper mainly studies on the influence of accounting measurement attributes to the definition of property rights, expecting to provide a basis for selection of measurement attributes. In the current financial accounting theories and practices, people's vague cognition for the concepts and their relationships of the main measurement attributes results in confusing use of them directly. The article defines the intension and extension of several main measurement attributes and clarifies the relationships between them first. On the basis of it, this paper studies the specific influence of them to the definition of property rights respectively.Fair value is a kind of compound measurement attributes, narrow-sense fair value includes current cost, current market value, short-term net realizable value and present value with the purpose of measuring fair value in certain conditions. But broad-sense fair value includes historical cost in certain conditions else. They are not absolutely opposite, but related. And their relationships can't be treated independently or in a static way. This article holds that the scope and amount of property rights with different accounting measurements is inconsistent. With the limitations of historical cost, current cost , current market value, short-term net realizable value and present value of future cash flows, many important elements (such as human capital) can not be reflected and measured accurately. The property rights defined by them are far away from real situations, let alone effective protection of property rights and improving the efficiency of resources allocation. Fair value (in narrow sense) pursuits value measurement, and can be used to measure all elements. It is able to provide relevant and properly reliable accounting information, and define and protect property rights accurately and dynamically. Needless to say, the fair value (in narrow sense) is our best choice.