Research On Influencing Factors Of Fair Value Accounting Professional Judgment

The re-introduction and extensive use of fair value measurement attribute is oneof the biggest highlights of the accounting standard for business enterprises that wasimplemented in our country since January1,2007. But fair value measurements havebeen recognized as complicated issue both in domestic and foreign current accountingtheory and practice. From the perspective of the relevant fair value accountingregulation applicated in fair value measurements, the accounting professionaljudgment of fair value plays crucial roles in solving this complex issue. This paperstudies the key issues from the perspective of influencing factors.This paper studies influencing factors of fair value accounting professionaljudgment from both theoretical and empirical aspects. In the theoretical analysis,firstly, on the basis of the narrative for the meaning of fair value and accountingprofessional judgment, and their intrinsic links, this paper analyzes the meaning andcharacteristics of fair value accounting professional judgment. Then, the paperreferences behavior model of lewin to analyze the influencing factors of fair valueaccounting professional judgment from the aspects of subjective psychology,environment and object, it is concluded that the fair value accounting professionaljudgment is influenced by7subjective psychological factors such as knowledge,experience and professional ability of accountants,5environmental factors such asinternal environment of enterprise and standards environmental, and2object factorssuch as characteristics of assets and liabilities or transactions by using fair valuemeasurements.In the empirical analysis, with the method of questionnaire, this paper takes theaccountants of75listed companies in hunan province as the respondents, surveys theimpact of various influencing factors in the foregoing theoretical analysis. Based onfactor analysis and mean analysis of the data about various influencing factorsobtained by questionnaire, this paper finds that the influencing factors in theforegoing theoretical analysis can be classified as behavior basis factor, the regulatoryenvironment factor, skill factor of accountants, values of accountants and object factor.Skill factor of accountants has the most influence on fair value accountingprofessional judgment, values of accountants and object factor has the least influence.Based on the result of foregoing theoretical and empirical analysis, the paper puts forward the policy suggestions that can raise the information quality of fair valueaccounting professional judgment from improving professional skills of accountant s,perfecting behavior basis of fair value accounting professional judgment, optimizinginternal and external regulatory system, and guiding accountants to form correctvalues.This study will help to improve the level of fair value accounting professionaljudgment of accountants, improve the quality of accounting information, and promotethe extensive application of fair value.