A Study On The Fair Value Measurement In China From Hierarchical Perspective

The revised guidelines in terms of financial tools,standards on revenue as well as government subsidies which has published in 2017,has once again brought the fair value measurement into the public research concern.Nevertheless,the fair value has met with much skepticism because of its inability to give a full picture of the essence of economic phenomenon.The proposal of fair value hierarchy theory has provided ways and thoughts for the fair value measurement,enhancing the faithful representation.Based on CAS39,this paper firstly analyzed the fair value hierarchy,input value and relevant disclosure principles among the guidelines,from which putting forward the five theoretical basis of the research.Secondly,the paper studied the valuation process in depth from the perspective of fair value hierarchy;detailing few key issues such as valuation requirements,the input value and valuation techniques in detail,especially the recognition and use of the first level input values,the second level and the third level input values as well as the characteristics and application situations of three valuation techniques.And the paper summarized the logical relationship among fair value hierarchy,the input value and valuation techniques in the perspective of hierarchy.Thirdly,the paper has applied the listed companies in 2016 from Chinese financial industries as samples on the basis of the above theoretical analysis.The paper has established the scoring index with regard to the fair value measurement level information disclosure.The information of fair value from each company's annual report has been collected by hand while the statistical analysis method has been used,which showed that:t:1,the fair value was barely used in non-financial tools among financial industries;2,the level distribution of results of fair value measurement was at its imbalance;3,the information disclosure of fair value measurement results from the perspective of hierarchy is insufficient and non-standardized,especially the third level;4,income approach is widely used in the fair value measurement.Finally,analyzing the reasons upon the present situations of fair value hierarchical measurement in China.On this scale the paper has put forward the corresponding countermeasures so as to provide ways and thoughts for the extensive application of fair value in our country.