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2015•Journal of Hunan Industry PolytechnicRequires access

Comparison of Application of Fair Value Measurement in New and Old Accounting Standards

SU Fangya

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Abstract

In 2014, China's ministry of finance issued guidance on the practical application of fair value, namely the accounting standards for enterprises No. 39. The new accounting standards summarized the accounting standards spread from No. 1 to No. 38.Based on the fair value measurement model in old standards, its application mode and disclosure method are stated under the fair value theory system, and the reasonable parts of the system are analyzed. Based on the evolution of new and old standards on the application of fair value measurement, this paper analyzes the lack of theoretical system, and puts forward some suggestions.

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In 2014, China's ministry of finance issued guidance on the practical application of fair value, namely the accounting standards for enterprises No. 39. The new accounting standards summarized the accounting standards spread from No. 1 to No. 38.Based on the fair value measurement model in old standards, its application mode and disclosure method are stated under the fair value theory system, and the reasonable parts of the system are analyzed. Based on the evolution of new and old standards on the application of fair value measurement, this paper analyzes the lack of theoretical system, and puts forward some suggestions.

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Available abstract

In 2014, China's ministry of finance issued guidance on the practical application of fair value, namely the accounting standards for enterprises No. 39. The new accounting standards summarized the accounting standards spread from No. 1 to No. 38.Based on the fair value measurement model in old standards, its application mode and disclosure method are stated under the fair value theory system, and the reasonable parts of the system are analyzed. Based on the evolution of new and old standards on the application of fair value measurement, this paper analyzes the lack of theoretical system, and puts forward some suggestions.

Key concepts: Fair value, Accounting, Value (mathematics), Accounting information system, Christian ministry, Mark-to-market accounting, Historical cost, Financial accounting

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