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Research on the Application of Fair Value in Listed Banks of China

Author: LuBo
Tutor: ChenLiJun
School: Dongbei University of Finance
Course: Accounting
Keywords: fair value listed banks application
CLC: F233
Type: Master's thesis
Year: 2011
Downloads: 244
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Abstract

The Accounting Standards issued by Ministry of Finance in 2006 introduced a number of international standards. The re-introduction of fair value measurement attributes is one of the most important changes. It has now been 4 years since the promulgation and implementation of the standards. The application and impact of fair value measurement attributes in listed banks are the major contents of this thesis. The thesis selects the listed banks as the object for two reasons. Firstly, they are greatly interrelated with fair value. Secondly, banking is the most important financial intermediary, their operating performance have enormous impact on the whole national economy. The shadow of the U.S. subprime mortgage crisis has not completely dispersed. For the reason of self-examination and introspection, the author holds the idea that it is still desirable to study the application status, the trends and the impact on the financial information of fair value in listed banks of china after four years of the implementation of the standards. Furthermore, it will be helpful to study the fair value application in other industries too.The paper mainly adopts normative research and data analysis methods to describe the author’s viewpoint. According to the recent 4 years financial reports of the current 16 listed banks in Shanghai and Shenzhen stock exchange, this thesis analyzes the application status and trends of the assets or liabilities measured on the fair value, such as financial instruments, derivative financial instruments and investment real estates. Because the price of real estates rose sharply recently and a number of listed banks hold it as investment, this paper also includes it although it is not the main business of the bank. Then with the arguments above, the thesis analyzes the impact and inference of these assets or liabilities on the banks’financial information. Although fair value is involved in common control mergers, share-based payments, debt restructuring and non-monetary exchange, etc, these activities only appear in few banks and they do not have industry representation. As a result these activities are not main business of the bank that are out of the research scope of the thesis.There are five parts in this paper. The first part is an introduction, which mainly describes the background and significance, status, method and thinking train of the research; the second part describes the theoretical basis of fair value, including the relationship between fair value and accounting measurement, the meaning of fair value and properties, an overview of the theoretical basis of the application of fair value and acquisition methods and techniques of fair value; the third part firstly make a comparison of the related content between existing criteria and the original guidelines or systems, then on the basis of the theoretical analysis, through the form of tables and charts, reflect the status and trends of application of the fair value in listed banks by statistical analysis of data in recent 4 years financial reports; the fourth part analyzes the influence of the application of fair value in the listed bank of China; the last part gives the conclusions and recommendations after the previous section analysis. Through the analysis the conclusions of this paper are:the application of the fair value in banks is stable and the gap between different banks is narrowing from the point of view of the application status and trend, but there is the problem that the classification of financial instruments and valuation methods is susceptible to subjective factors; the application of fair value improve the content of the accounting information, but its impact on the volatility of accounting information is not as much as we thought to be.Through the analysis in this paper, the author hopes that it has some theoretical and practical significance to provide assistance for the research of fair value in listed banks of China.

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