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2008•Journal of Hubei Radio & Television UniversityRequires access

Analysis on the Application of Fair Value in New Accounting Standards

Wei Pin

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Abstract

February 2006,the Ministry of Finance issued the new Standards,widely introduced the fair value properties,reflected the convergence between China's accounting standards and international accounting practices.As a new accounting,fair value has provided a more reasonable and more useful accounting measurement mode for a large number of intangible assets accounting and derivative financial instruments emerged the knowledge economy era.This paper describes the fair value of the content and measurement attribute,introduces the application in the new accounting standards,and analyzes its existing problems and puts forward relevant proposals and solutions.

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February 2006,the Ministry of Finance issued the new Standards,widely introduced the fair value properties,reflected the convergence between China's accounting standards and international accounting practices.As a new accounting,fair value has provided a more reasonable and more useful accounting measurement mode for a large number of intangible assets accounting and derivative financial instruments emerged the knowledge economy era.This paper describes the fair value of the content and measurement attribute,introduces the application in the new accounting standards,and analyzes its existing problems and puts forward relevant proposals and solutions.

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Available abstract

February 2006,the Ministry of Finance issued the new Standards,widely introduced the fair value properties,reflected the convergence between China's accounting standards and international accounting practices.As a new accounting,fair value has provided a more reasonable and more useful accounting measurement mode for a large number of intangible assets accounting and derivative financial instruments emerged the knowledge economy era.This paper describes the fair value of the content and measurement attribute,introduces the application in the new accounting standards,and analyzes its existing problems and puts forward relevant proposals and solutions.

Key concepts: Fair value, Accounting, Mark-to-market accounting, Accounting standard, Financial accounting, Value (mathematics), Accounting information system, Business

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