Research on Fair Value Measurement Attribute Application on the Current Economic Conditions

In the Accounting Standards for Business Enterprises issued by China's Ministry of Finance in 2006,the measurement basis of fair value is largely introduced.This not only conforms to the development of international accounting measurement,but also suits the objective need of China's economy.However,the application of fair value is a double-edged sword.On one hand,it could improve the relevance of accounting information with decision-making,accord to the matching principle bette on the financial impact;on the other hand,the fair value measurement also has many disadvantages,including: bad reliability and comparability of accounting information,high information cost.In view of the current low market level and the imperfect quality of accountants,only by continuously improving operating environment of the fair value,improving accounting standards system,and definiting relevant provisions of determining fair value,we can ensure the effective use of fair value.