【正文】 n the current profits and losses. In the purchase of assets or liabilities assumed a definite undertaking of a fair value hedging, due to the firm mitment of the fair value hedging risk caused by the accumulative amount of the changes ( has been recognized as an asset or liability), should adjust the performance of the firm mitment ine assets or liabilities assumed in the amount of the initial recognition. Enterprise Accounting Standards No. thirtyseventh presentation of financial instruments financial instruments listed in chapter second: enterprise regulations issued nonderivative financial: l: includes liability and equity ponents. Shall at the time of initial recognition of the liability and equity ponents are analyzed, respectively, for processing. In the spinoff, should first determine the fair value of the liability ponent as its initial confirmation amount, according to the financial tool for overall price deduction of the liability ponent initial confirmation amount after determining the amount of equity ponent initial confirmation amount. The issue of non derivative financial transactions costs. Be in debt position and equity ponents according to their relative between the fair value of share. The above three standards setting body of financial instruments in the application of fair value for parison: first, in the classification of financial assets. The United States accounting standards will be divided into three categories. China and the international accounting standards will be divided into four categories, namely: the trading of financial assets, heldtomaturity investments, loans and receivables, financial assets available for sale. American accounting standards do not include loans and receivables, China39。s accounting standards with the exception of the four category also includes designated as at fair value and their changes are recorded in current profit and loss on financial assets. Secondly. For the initial measurement of financial instruments. Three regulatory authorities require the use of fair value measurement, although some differences in expression. Finally, on the subsequent measurement of financial instruments. American accounting standards require that in addition to hold due to the financial assets with amortized cost. Other financial assets are measured at the fair value. International accounting standards in addition to determine the duration of loans and receivables, held to maturity _ R investment and its fair value cannot be reliably measured by fair value of financial assets。 accounting standards in China in addition to the international accounting standards, also provides: in the active market does not offer and whose fair value cannot be reliably measured equity investment instruments, and the rights and interests with hooks and shall be settled by delivering the equity instrument to spread dust financial assets, should be in accordance with the cost measurement. Compared with the hinge, China39。s Yu Rong tool subsequent measurement application of fair value in the narrowest.4 Application of fair value in our country a few proposal The new enterprise accounting standards39。 promulgation and the implementation, no doubt in the use of fair value on a big step, the next task is to ensure the fair value in practice to get the correct use, really play its positive role. The fair value of the confirmation and measurement of a historical cost is more plex, the occupation judgment is very high. Whether a pany and its accountants, registered accountants and other intermediary agencies, or the relevant regulatory institutions and financial statements users, are required in a limited period of time to adapt to and understand the new accounting standards in the relevant provisions of the fair value, as the correct use of fully prepared. Therefore, in order to ensure the smooth implementation of the new accounting standards system, the author puts forward the following suggestions. to improve the application of the fair value of market conditions The introduction of fair value measurement attribute of the premise, is essential to establish a uniform and fully petitive market. The fair value is not equal to the market price, but the market prices are the highest degree of objective, reliable, fair value is the most simple source. Market growth is good or bad for fair value accounting has great influence. So it should strive to cultivate the market at all levels, especially the means of production market and the secondary market trading, so that the fair value to obtain more objective, direct, the greatest extent to ensure the reliability of fair value. At present the market environment of our country, be badly in need of perfecting the capital market, expand the bond market, paper market, foreign exchange market, gold and other precious metals market, the establishment of full petition production factor market, especially the real estate market and financial market. At the same time, to break industry monopoly, reduce the financial, telemunications, energy, electric power and other industries access conditions, allowing private, civilian endowment enter the financial, insurance and other fields。 break the operation limits, encourage the operation mode, the introduction of full market petition mechanism. strengthen the fair value of theoretical research, establish standard of fair value measurement For the use of fair value, improve the theory than the active market and talents with high quality is more important. Although in 2007the implementation of the new enterprise accounting standards on the fair value measurement attribute gives a preliminary definition and method of use, but the fair value in our country is still a further research topics, theoretical circles on the fair value is mostly sporadic research, prehensive and systematic research is less, and has not formed a plete theory system. On the lack of the resea