Research On The Application Of Fair Value Accounting Triggered By Financial Crisis

September 2008, global financial crisis triggered by the U.S. subprime mortgage crisis has swept the world. When people are parsing the cause of this financial crisis, fair value accounting, which has been called "represents the future direction of accounting measurement", recognized as the most related risk prevention tool by the international accounting profession become the target of public criticism overnight. All of a sudden, the debate between financial and accounting circles about the advantages and abolition of fair value continue. Many scholars and institutions put the blame of the root causes of the financial crisis on the use of fair value accounting, and even want to stop the use of fair value. But the standard-setting institutions and accounting firms safeguard the position of fair value resolutely, they believe that fair value accounting is not the root of the financial crisis, but accurately reflects the financial crisis, making the crisis more quickly exposed for investors to see the truth as soon as possible. Under the effort of all parties over the world, the devastating impact caused by the financial crisis gradually receded, the world economy has endured the most difficult times, the current global economy has gradually warmed up, showing signs of recovery, more and more people use the "post-crisis era" to express the reality of current economic development. In the post-crisis era when the global economy are stabilizing and recovering to normal, the application of fair value measurement is still worth thinking about deeply for us. During the four years of application of fair value in our country, many problems involves market conditions, valuation techniques exposed, in the trend of further convergence between China and international standards, how to learn from foreign-related criteria lessons and constantly improve the application of fair value in our country, further promoting the international convergence of accounting standards has important theoretical and practical significance, this thesis is on the study in such a background.As the financial industry is the most directly and far-reaching industry affected by the financial crisis, this thesis intends to analyze the impact of fair value accounting on the financial industry listed companies'reporting data in China before and after the financial crisis through a combination of reporting data of banking financial services sector listed companies from 2007 to 2010, to do some explorations to the issues above, and learn from international experiences and lessons then put forward a few suggestions about development and application of fair value accounting in China's post-crisis era.This thesis intends to study by the following six parts. The main contents of each part as follows:The first part, introduction. We are going to expound the background and significance of the topics, and describe the main research contents, methods and framework of this thesis.The second part, literature review. Combined the origin, development and impact of the financial crisis with the replying by national and international accounting organizations to deal with the financial crisis, we classify the research status and results of fair value from both domestic and foreign aspects, and making a summary on present related research on this basis.The third part, we are going to discuss the relationship between fair value and the financial crisis. This section focuses on the challenges on fair value raised by accounting theorists and practitioners after the financial crisis and the consequent thinking of fair value.The fourth part, we are going to study the actual impact of fair value on China's financial industry. Combined with the reporting data of our banking and financial sector listed companies from 2007 and 2010, by the method of descriptive and comparative analysis, we are going to explore the specific situation of fair value to determine the changes in the proportion of data of the statement of listed companies, analyzing the impact of fair value accounting to China's financial listed companies in and after the financial crisis.The fifth part, we are going to put forward some suggestions about the application of fair value in our country. Focus on how to improve and perfect the fair value measurement in post-crisis era.The sixth part, make a summary of the full text. We are going to propose the innovation of this thesis and the vision of further study with the lack of the thesis.