2022年论公允价值在我国的运用

1、 本 科 毕 业 设 计（论文） 题目 论公允价值在我国的运用 附录 外文资料与中文翻译 院（系部） 工商管理系 专业名称 会计学 年级班级 08会计4班 学生姓名 许 欣 指导教师 2012 年 05月 23日附 录外文资料与中文翻译外文资料：The application of fair value in the domestic and international comparative analysis1 the definition of fair value1.1 fair value definition comparative analysis From the definit

2、ion of fair value can be seen, different countries, institutions for fair value definition although expressed in different ways, but its connotation basically the same: (1) the transaction fairness. Fair value is familiar with the situation between the two sides in the voluntary transactions in form

3、, not in the forced liquidation or formed in the process of. (2) market compatibility. Active market and the active market can form the fair value. Active market in the market is the best evidence of fair value, but not the only evidence. When there is no active market, can be used in a variety of v

4、aluation techniques to provide a good estimation of the fair value of the mouth. (3) emphasize the relativity, i.e. exchange to determine the fair value is in relatively reasonable under the circumstances. The fair value is for its essence is a kind of ideal under the assumption that the value embod

5、iment of social reality, and this hypothesis is difficult to fully realize. No matter how perfect transaction market, how wise, not likely to collect all information and effective analysis of information make absolutely correct decision. Fair value is the market value, namely, the fair value of the

6、fair is relative. (4) the comprehensive measurement. Fair value refers not only to the fair value of the assets, including the fair value of the latter over a long period of time had been ignored.1.2 china fair value definition theoretical defects On the definition of fair value is substantially con

7、sistent with international. But this definition was studied, and combined with the fair value of specific access technology, we can find that, the fair value of the definition itself is not with no chink in ones armour, it is certain to have some theoretical defects. First, the definition of fair va

8、lue in the emphasis on even bargain, but in actual application, fairness is vague and difficult to guarantee the. For example, in a buyers market or sellers market, by the impact of supply and demand, the actual transaction price is very difficult to achieve the true fair. For example, a license pla

9、te number or a certain kind of tea, with hundreds of thousands or even millions of prices, completely is traded a willing willing to endure a voluntary exchange price, its hard to say with the original meaning of fair. Again, due to the existence of asymmetric information, the active market for both

10、 buyers and sellers to reach transaction prices are not absolutely fair. For example, in the second-hand car market, buy a car to car quality information related to master far less than selling cars, and sell the car man as a rational economic person, want the car can sell a good price and try to ex

11、aggerate the car quality. If a car that sells car people, to pay the corresponding price, so buyers interests have been violated; if a car prior to realize this reason, in order not to be cheated will adhere to the low price, sell a car people reluctantly part with cheap shots, so the car is not fai

12、r the. Of course, in this game, buy a car and the car can choose to exit the market, finally appear inferior goods expel quality product of the adverse selection results, but in the real economic life, both the information asymmetry phenomenon indeed bow can be found. Fair value definition requires

13、a familiar situation both sides exist in name only, although voluntary transactions, the transaction price fairness is miles away. Secondly, based on the fair value definition emphasizes the transaction and produce, but a lot of the fair value of the acquisition is not derived from trading. But more

14、 often to the enterprise resource in a transaction and although the transaction but no observable amount in case, according to the same or similar situation made estimation and evaluation. For example, the fair value not only for the initial measurement, are often used in subsequent measurement, and

15、 subsequent measurement are mostly in the absence of trade situation, through for a supply of sth. to reach consensus on the actual transaction price will be out of the question. There is also controversy most, one is fair value is what?, namely the definition of the fair value of the meaning not cl

16、ear. This is also a question of the application of the fair value of the core problem, determine the meaning of fair value, fair value measurement to determine the direction and target. Our fair value describing ambiguous, connotation and extension of uncertainty, not specific, may lead to confusion

17、 in practice application. The fair value is what the understanding is different, the fair value measurement using assumptions, techniques and methods may be different, measuring the results of the difference can be large, measurement reliability will be reduced.1.3 the United States of America fair

18、value definition development reference to China (1)orderly transaction. The United States of orderly transaction and the international accounting standards board ( IASB ) and our country Ministry of Finance stated even bargain concept has bigger difference. Orderly transaction emphasize in the marke

19、t full disclosure and assets or liabilities owners initiative, and even bargain emphasize the transaction itself the unforced. Orderly transaction concept can be covered even bargain concept. (2)compared to the SFASNO.157, Chinas new accounting standards will be the fair value is defined as the tran

20、saction both sides of transaction is generated based on the amount, but not clearly expressed concern at the price. In some cases ( such as the related party transaction ) even if the transaction both sides, the price is also a lack of fairness, but also reduces the reliability of. Chinas new accoun

21、ting standards fair value makers provided only limited to both parties to the transaction, and not its extension to the participants of the market range, therefore, the fair value of the developed after the absence of sufficient market equilibrium, and contain more involved in subjective components

22、or hypothetical components, reliability needs to be improved. And in the SFASNO.57 definition. price decision is the asset or liability owners outside of the market activity, in introducing more market factors, increase the fair value of the objective to make more efforts to make fair prices, more r

23、eliable SFASNO.157 more trust from the external market price. (3)the definition of market and the international definition of involved in the transaction parties, market participants the scope to be bigger. Because, although the price in trading by parties to the transaction is selected, but there i

24、s an active market, the price actually depends on other market participants to trade between the equilibrium price; and in some cases, pricing is not a trading conditions, such as asset revaluation, the reference market pricing the other participant in the transaction price. Therefore, the introduct

25、ion of market participants concept makes the fair value has more reliability, but also deepen the concept of fair value.2 the application of the fair value of market conditions2.1fair value market conditions The definition of fair value can be seen in fair value and market conditions of the relation

26、ship. IASB and fair value in China is defined as: the even bargain, the Party of be in voluntary basis for exchange of assets or liabilities repayment amount. The United States FASB accounting standards issued by the FASl57 fair value in the definition of fair value in the measurement for: with mark

27、et traders in an orderly transaction, sale of assets or liabilities received transfer price. As can be seen from the definition, the first is the fair value of assets or liabilities in the transaction price, the transaction usually refers to the market, i.e., between two or more parties in the marke

28、t of commodity exchange. In the definition of fair value is similar to the market price, of course, the market price is not to leave the market access. Secondly, from China to the definition of fair value in, the transaction price is in even bargain, and familiar with the transaction both sides burs

29、t transaction prices, the United States of America s Financial Accounting Standards Board noted that the transaction price is in an orderly transaction conducted, orderly market hypothesis in the measurement with a period of time before the market has existing assets or liabilities of the convention

30、al transaction, the transaction is a kind of forced transaction. Whether fair value is active on the market the actual transaction price? In essence, the fair value is a kind of evaluation based on market information. The fair value of the identified three ways, namely, the existence of market trade

31、, exchange price for the fair value; market price is all market participants fully consideration of an asset or liability in the future cash flow and its uncertainty after the formation of the consensus, if there is no evidence to the contrary that the transaction is unfair or not voluntary, market

32、transaction price for the asset or indebted evenhanded value; in the absence of actual transaction situation, should search on the market similar to similar transaction, transaction price as the fair value measurement basis, an asset or liability if no observable, directly determines the price by th

33、e market, it is stipulated in the contract or can be expected in the future cash flow can be estimated, can use the present value of estimated fair value of technology. On the fair value measurement requirements of what kind of market environment, Hunan University professor Xie Shifen (2001) discuss

34、es the very good answer to this question: fair value only require even bargain, does not require active market, the market economy and the developed market economy, the market demand is not high. That the fair value to active market economy, or the fair value is not used for the view is wrong. It hi

35、nders Chinas system of accounting standards and international accounting standards in the process, China has the right to establish the fair value measurement and its specific target path south. Commercialize degree, fair value is the premise of even bargain. The high degree of marketization, market

36、 activity is as fair value acquisition provides a good foundation, but in the low degree of market situation, voluntary, mutual benefit, equivalence based even bargain still exists, resulting even bargain prices through multiple channels can get. Even in the absence of actual transactions occur, may

37、 also through imitate market transaction parameters judgements and estimates, or through the present value method and mathematical method to calculate the fair value. In fact, the so-called active market is only relative, not a country or area, all sorts of assets and liabilities are active in the m

38、arket, no one country or area, all sorts of assets and liabilities are not there is an active market. Of course, the market is more active, the fair value of the more favorable.2.2 Chinas application of fair value conditions In our country, many accounting profession of our country current element m

39、arket is mature, the lack of active market, fair value is often difficult to obtain, the market environment is not suitable for the application of fair value, fair value application requires active mature market, while China is precisely the lack of this kind of market, so in our country it is diffi

40、cult to apply fair value. The application of fair value needed to have certain market conditions, but we can not because the conditions are not ripe or not fully mature and avoid or resist the implementation of fair value and should take a positive attitude and continue to nurture and improve the fa

41、ir value application environment. You can see from the above analysis, not only there is an active market in order to obtain the fair value. Our country has partial with use of the fair value of the actual conditions. (1) the development of the financial market for the application of fair value of l

42、aying a foundation for Chinas capital market after 10 years of development has accumulated a certain theoretical and practical basis. With international economic integration degree deepening, the international capital market between mutual infiltration and mutual restriction for our first implementa

43、tion of the fair value in the financial market provides feasibility. More and more enterprises to participate in the financial markets for investment or hedging, resulting in a large number of related financial tools business. According to the transaction object, the financial market can be divided

44、into the foreign exchange market, capital market and gold market, according to financial instruments duration, capital market can be divided into the money market and capital market. These markets on the current accounting theory and practice effects were the major foreign exchange market, monetary

45、market and capital market. The development of the financial market for the use of fair value request also provided stage. From short-term financial markets such as the bill, bond market and stock market, many enterprises have participated in. With Chinas futures and options market development, large

46、 enterprises using the financial derivatives market investment, hedging and risk management has become a kind of trend. Corporate financial statements and financial tools related to business and the growing proportion, either table business or business outside statement is true. (2) the fair value m

47、easurement in terms of the technical problems have been breakthroughs in fair value not only as short-term investments and derivative financial instruments measurement basis, and continues to expand into other areas, such as long-term investments. In fact, since investors because of the decision to

48、produce to company earnings information needs, fair value accounting is becoming more and more favored by investors and creditors, because of the need to calculate a company during a period of comprehensive income, the company s assets and liabilities must adopt fair value measurement, just as fair

49、value the attributes of the historical cost measurement attribute to the traditional accounting model deviation, can not be accepted accounting personnel, plus in practice, many of the assets and liabilities of the fair value is difficult to obtain, often requires a large number of estimation and pr

50、ediction, its reliability is difficult to meet the information requirements of users, fair value accounting is not widely promotion and application of. Since the nineteen seventies of international financial market and the rapid development of financial instruments measurement model for the study of

51、 improving, so that the fair value accounting measurement reliability and facing the accounting method is operable in two big problems resolved gradually, as the fair value of our country carry out laid a technological basis. That is to say, in terms of financial instruments, fair value accounting i

52、s facing technical problems have been solved basically, therefore, in the financial tools in the field of the full implementation of the fair value measurement of the theoretical foundation and realistic conditions are ripe.3 the application of the fair value of international comparison3.1 internati

53、onal accounting standards in the application of fair value For all the derivatives using fair value measurement, is the goal of IASC. IASC is still on the financial tools are classified, the historical cost and fair value measurement patterns coexist, the existing international accounting standards

54、of financial instruments, involving business there are three major, namely International Accounting Standards No. thirtieth - banking and other similar financial institutions in the financial statements disclosure, international accounting standards thirty-second number - presentation and disclosure

55、 of financial instruments and International Accounting Standards No. thirty-ninth - recognition and measurement of financial instruments, in 2005August 18 R, the international accounting standards board and published the International Financial Reporting Standards No. seventh - financial tool is dis

56、closed ( effective January 1, 2007), the standard will replace international accounting standards thirtieth on the and international accounting standard thirty-second. Presentation and disclosure of financial instruments involved in the financial instruments disclosure content. IASC on fair value in

57、 financial instruments on the application of reflected the principle of step by step, which require some of the fair value of financial instruments are disclosed, gradually requirements to confirm some of the fair value of financial instruments. And confirm scope expands gradually. So that the final

58、 completion of all financial instruments are measured by fair value objective. IAS32 on the fair value of a financial instrument is disclosed to make following provisions: (1) for each class has confirmed the financial assets and liabilities of enterprises of Yu Rong, shall disclose the fair value i

59、nformation. If the time or cost constraints. When enough to reliably determine the financial assets or financial liabilities at fair value is not feasible, a fact that should be together with regard to their fair values related to financial tool is the main feature with disclosure. (2) when an enter

60、prise or a number of financial assets to more than its fair value is the amount listed timekeeping. Enterprises should be disclosed: single asset or individual assets to the appropriate category of the carrying amount of the fair value: does not reduce the amount of paper will cause, including avail