| With the rapid development of social economy and rising house prices, the investment real estate as fixed assets or intangible assets measurement has obviously cannot really reflect the value of the investment real estate. In February 2006, our country promulgated the accounting standards for enterprises No.3-investment real estate, namely CAS3, keeping the investment real estate from the fixed assets or intangible assets. The CAS3 not only regulates the definition, scope, accounting process of the investment real estate, but also allows the enterprise to choose the follow-up measurement method, the cost of an investment real estate measurement or the fair value measurement, but it limits the use conditions of fair value measurement. This paper statistics and analyzes the number and geographic distribution of the listed companies in China whose investment real estate apply fair value measurement model. Through research we found that since the new accounting standards has promulgated in recent 10 years, the number of listed companies in China using fair value measurement model is very less, on average, only about 3%, this phenomenon is amazing. Then this paper uses Beichen Industrial case study as an example, founding the reason of using different measurement model in the annals of the A shares and H shares from the mainland and Hong Kong accounting standards system, the attitude of the regulatory and market maturity, at the same time, this paper reveals why the number of the listed companies in China using fair value measurement model is so small. Through comparing the annual reports of A shares and H shares of Beichen Industrial, analyzing the value of assets, net income and capital structure, we can see that the fair value measurement model can improve the enterprise’s capital structure, business performance and financing ability. This paper mainly includes the following four parts:The first part is introduction and literature review part, mainly elaborating the selected topic background and significance, the thesis research method, content and innovation points. Then this paper reviews the historical documents about the fair value and the investment real estate for these years.The second part is the theoretical part. It explains the definition of fair value and the definition of the investment real estate, then mainly analyzes the differences of the fair value measurement and the historical cost measurement model. This level determines the theoretical basis of the full text research.The third part analyzes the present situation of the application of fair value of the investment real estate by collecting the data of listed companies, mainly analyzing the application number, geography and industry distribution and the methods of confirming fair value.The fourth part is the Beichen Industrial case study. This paper analyzes the investment real estate measurement model selection problem. After the brief introduction of the company’s basic situation and the investment real estate situation, analyzing the reason of choosing different measurement model in the annals of the A shares and H shares from the mainland and Hong Kong accounting standards system, the attitude of the regulatory and market maturity. Then analyzes the difference and influence of the value of assets, net income and capital structure, causing by employing different measurement model in the annals of the A shares and H shares.The fifth part is the conclusion and suggestion part. This part makes a summary to the full text, and gives some suggestions to the use of fair value measurement model in the investment real estate in our country. |
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