The Research Of Fair Value In New Accounting Standards

Accounting measurement is always the core problem of accounting.Traditional accounting mode1 is based on historical cost.However,since 1990s,A lot of great changes have taken places.The great changes in environment factors of international finance market surges up the wave of innovating financial instruments.The traditional measurement model can't adapt to demands of economic development. To keep the usefulness of information quality,all the standard-making institutions regard fair value measuring all the derivative financial instruments as object.Though lots of difficulties,the research on fair value is still developing fast.Furthermore,fair value has infiltrated into change of other items measurements and dealing methods.More and more problems and obstructions in the measurement of fair value has become one of the hardest questions of the modern financial accounting.However,it is a tendency to comprehensively apply fair value.The application of fair value in Chinese Accounting Standards is full of twists. Under development of global economic integration and international coordination of accounting,Chinese standards-making institutions has realized that avoidance of fair value will lead to the set back of accounting theory. Thus, Fair value accounting is widely and deeply researched. In February 2006,the Ministry of Finance issued the new Accounting Standards System. Fair value as measurement was written in basic standard and widely applied in specific standards.The new Accounting Standards System embodies that Chinese Accounting Standards has made step during international convergence, and marks that getting gradually mature Chinese market economic has been provided the space to apply fair value.Based on reviewing the research accomplishments on fair value accounting at home and abroad, and analyzing effect of applying fair value to Chinese enterprises, the author investigates how to make full use of international research results to guide and evaluate the research and application of fair value in China, as well as points out the challenge of fully applying fair value and its solving methods.