Comment on Research on Fair Value Measurement in the New Accounting Standards
With the change and development of international economic situation and economy environment, disadvantages of historical cost emerge gradually and undergo more and more criticism. Fair Value, which can be duly and roundly reflect changes of the current and future economic environment, come into being accepted and applied widely. In the past several decades, the fair value problem has always been one of the most pop and difficult ones in the international accounting world. However, accounting academia of China just start the study on fair value. Besides, it is just the very beginning groping stage to how applied fair value by
accounting practical field.
On February 15 `h, 2006, Ministry of Finance People's Republic of China released a serious of new accounting standards including one basic standard and 38 specific standards. As the most remarkable highlight of the new accounting standards, reintroduce and large-scale application of fair value reveals that our accounting standards get close to internationalization.
Up to the present, however，the theory of the fair value, especially how to obtain fair value correctly and the reliability of the fair value, still hang in doubt. In the financial crisis which broke out in 2008, the fair value even was deem to the accomplice of aggravating turbulence.
There is a drastically debate about fair value all over the accounting world. Therefore, how to rightly understand the fair value measurement, how impersonally judge financial crisis brings the impact on fair value measurement, how to strengthen the study on the theory and practice of
fair value, how to boost the application of fair value in our new accounting standards, all of them become more and more significant.
2015.4.5
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