Thinking on fair value measurement under the background of financial crisis

摘要

Fair value is a hot topic in international accounting development and research in recent years. The application of fair value measurements in accounting, not only to meet the requirements of accounting objectives, but also meet the definition of asset measurement and accrual basis of accounting recognition. So, it is widely used. However, with the occurrence of U.S. subprime mortgage crisis, fair value measurement is gradually being questioned; some people think that fair value should be abolished in the accounting. This article introduces the concept of fair value and the theoretical foundation of fair value, explains the specific reasons for financial crises, analyzes the relationship between the fair value and the financial crisis and thinks that fair value should not be repealed. Finally, gives some reasonable suggestions on the improving of fair value accounting.