Fair Value Accounting in Post Financial Crisis Period

The outbreak of the financial crisis has triggered a vigorous study of fair value accounting.In spite of some inadequacies for fair value accounting,historical cost accounting still can′t replace fair value accounting especially in the post financial crisis period when the world economy gets warm again gradually.This paper compares the diverse impacts of historical cost accounting and fair value accounting on economy in the post financial crisis period,and then analyzes the promoting role of the fair value accounting in the recovery of current economy.It is held that as fair value accounting marks the tendency for accounting development,China has to correctly recognize and guide its rational development in the future application.