[Abstract] This paper firstly gives the concept of fair value and its application environment, and then analyzes the fair value in the new standards specifically. Finally in combination with the concrete background in China, we put forward some advices on the carrying out of the fair value in the accounting practice.
[Key words] Fair Value; China new accounting standard
Since January 1, 2007, the China new accounting standards will become mandatory for listed Chinese enterprises. The adoption of the new China accounting standards system brings about substantial convergence between Chinese standards and International Financial Reporting Standards (IFRSs), as set by the International Accounting Standards Board (IASB). One of the most important introductions is the fair value measurement.
I、Fair Value and its application environment.
Fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm's length transaction.
The......
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Approximate Word Count: 1106
Approximate Pages: 5 (260 words per double-spaced page) |