Significance and Limitations of Fair Value Measurement

在本研究中，我们讨论了公允价值的概念，并试图揭示公允价值计量的局限性和前景。研究对象或方法：(1)公允价值计量理论与会计制度的研究；(2)档案、实验和问卷调查数据的实证研究。我们的结论是，公允价值概念混乱，如果公允价值不可见，则会降低盈余质量，审计师在估计公允价值审计时也需要谨慎处理。

In this study, we discussed fair value concepts, and attempted to reveal the limitations and prospects of fair value measurements. It was accomplished with the two objects or methods, (1)research of fair value measurement theory and accounting system, (2)empirical research with archival, experimental and questionnaire data. We conclude that fair value concepts are confusion, if fair value is not observable, then it decrease earnings quality and auditors also need careful treatments in estimated fair value auditing.