Some reflections on the application of fair value accounting in China under the background of financial crisis

Fair value accounting was not the main cause that led banks into crisis,and only the practice of fair value accounting principles can really protect investors′ interest,while measures should be taken to improve it.In China,fair value accounting should be put into use gradually in accordance with the market maturity,and a scientific interior and exterior mechanism should be established to ensure the objectivity of the fair-value measurement so as to achieve the effective application of fair value accounting.