Fair value based accounting research _1716 our gov

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Fair value based accounting of our government

Abstract: With the development of economic globalization and the constant improvement of the accounting system, based on historical cost accounting pattern in the actual work can not meet the needs of the government to introduce fair value accounting is the general trend properties. Articles from the perspective of fair value accounting of government was discussed. Keywords: fair value; government accounting; measurement recent years, with new public management movement in the West the rise, many countries have set off a wave of government accounting reform in China the government has gradually in-depth study of accounting. This paper from the perspective of fair value accounting to do a preliminary study on the Government to the reform of the benefit of Government Accounting. Chinese papers League finishing. First, the government introduced fair value accounting need in our current budget accounting framework is mainly historical cost, accounting system The total budget for the fiscal accounting recognition, measurement, recording and reporting of the object is a Since the inherent limitations of historical cost, our government accounting measurement attributes and measurement methods need to be further innovation, the emergence of fair value is based on the historical cost of the defects. In recent years, the Financial Accounting Standards Board (FASB) has been the most fair value accounting measurement purposes, including initial and subsequent measurement carried out by the new starting point of measurement. International Accounting Standards Committee (IASC) in IAS32 definition of fair value accounting standards as The The fair value of the real idea is: First, it emphasizes asset valuation must adhere to the objective value of the measurement, emphasizing the price to be able to accurately reflect the true value of assets; the second is to emphasize asset valuation must be based on the present point in time, adhere to the dynamic view of the accounting response . Accounting reform in the government, with the government accounting framework based on government assets and liabilities denominated in expansion of the scope of historical cost using a single measurement attribute can not meet the requirements of Government Accounting valuation, property valuation in the government on the introduction of accounting In addition to the measurement of property other than historical cost - the fair value is the trend, but also for the inevitable choice of accounting measurement. (A) of the changing needs of the Accounting Objectives accounting objective is that people are expected by the accounting practice standards to be achieved. Accounting targeting different qualitative characteristics of accounting information and provide the request is not the same way, which will further lead to the accounting recognition, measurement and reporting differences. There are two main goals on the accounting view that the In our current economic environment, our government should be the goal of accounting useful information for decision-making, that the Government Accounting Objectives Therefore, it will inevitably require a corresponding reform (B) a comprehensive assessment of the overall capacity of the government to fulfill the needs of responsible government assumed responsibility ability to correctly evaluate the overall premise is that the Government accounting system can not fully reflect the total amount of government resources and control the overall composition, and all obligations, commitment and social responsibility scale and structure, that is, government accounting system to a full disclosure of government assets, liabilities and net assets. The traditional measurement model can not meet demand, the use of fair value measurement will be able to better reflect the value of government assets or impairment, the assets of government actions are consistent with the interests of countries and peoples, to facilitate the people's supervision and evaluation, to the greatest limits less on shrinking government agencies or government officials and the divergence of interests between the public, the government's actions and goals be conducive to achieving the Government asset management,[link widoczny dla zalogowanych], configuration and use of the Pareto optimal. (C) the limitations of historical cost, fair value also requires replacing property present, how the fair value measurement attribute criticism has focused on the reliability of accounting information generated. However, the reliability of historical cost accounting information is relative. Inflation and the emergence of knowledge-based economy, but also to the reliability of historical cost accounting information by the fatal blow. In nominal currency units of measurement, historical cost measurement attributes, changes in the price environment, we can not reflect the general inflation caused by price changes, it does not reflect the value of measuring changes in individual objects, so that no reliable historical cost . Again, goodwill, technology, human resources, derivative financial instruments, there is no historical cost to follow. Therefore, the development of economic environment, requires fair value measurement attributes, the only way to provide the information users are both relevant and reliable accounting information. (D) international accounting language, the need for standardization is essentially using the fair value measurement with the international accounting convergence, mainly mutual understanding in order to eliminate the accounting policies and accounting information barriers, and promote international the development of trade and investment activities, improve the comparability of financial information to our government.

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