Research On The Exertion Of Standardized Fair Value

Process of fair value from general theory research up to widely exerted in accounting standards is called standardization of fair value. This also indicates the increasing importance of fair value in economic life. For a long time, fair value has been a hotspot and difficulty of debate in international accounting theory and practice circles. Experts and scholars at home and abroad carried out further and extensive study on fair value, producing a huge boost on the exertion of standardized fair value. In the financial crisis caused by subprime mortgage crisis, the exertion of standardized fair value encountered tough challenge, even faced the threat of the disabled. Despite many inadequacies of fair value, plus imperfect using environment, its exertion still plays an irreplaceable role in accounting standards, and becomes the main mode of accounting measurement.On the background of fair value in exertion under the financial crisis, international convergence of accounting standards and the implementation of domestic business enterprises accounting standards, this paper adopts literature retrieval method mainly, and selects the exertion of standardized fair value as priority of study by systematically sorting out research results on the exertion of standardized fair value at home and abroad. The paper first probes into the basic theories and determination approaches of fair value. On this basis, the paper analyzes in detail the specific exertion of standardized fair value at home and abroad, and grasps the developing direction and path of fair value from the history of its use. Centering the exertion of fair value in standards and aiming at two most major obstacles of determination and implement of fair value, the paper places fair value in net-like economic environment in the view of systematology for constructing the three-dimensional linkage system of accounting-evaluation-auditing centered by accounting, guaranteed by evaluation and secured by auditing, in order to perfect the exertion of standardized fair value. Also, the paper provides research ideas for further constructing multi-dimensional system and expanding fair value to more emerging fields and their standardization such as soft assets.This paper regards the exertion of standardized fair value as a systematic project, and a certain amount of research works have been made. Vertically, these works perfect and deepen the exertion of fair value in accounting field with the aid of evaluation and audit services. The future research on the other hand is to promote the fair value transversely and its standardization. The research hopes to provide the basis and help for further explore on relevant issues or provide beneficial reference for other researchers.