Influence of Financial Crisis on Fair Value Measurement

The public begin to question measurement model of fair value due to financial crisis. But the argument shows that although there are many disadvantages,this model is rational to some extent. To deal with financial crisis,the United States and the European Union revise the accounting standards of fair value. Its enlightenment to China is that,to improve fair value accounting,we should not deny its scientific connotation,but build effective mechanism to adjust and determine operating method of fair value in an abnormal and ineffective market. At the same time,we should take effective strategy to concern development trend of fair value measurement,relevant accounting regulations and market environment,consider national conditions and economic environment when improving accounting stan-dards,especially choose proper accounting measurement attribute,and make fair value measurement more reasonable and normative.