Abstract

Theoretical research and discussion on accounting measure-ment is an important field in accounting research nowadays.In the systemic research on accounting measurement theory, the choice of accounting measurement attributes is the most fundamental and urgent problem that needs to clearly determine.From the incur-rence and development history of accounting, every development in accounting has relationship with accounting environment, being the result of change of accounting environment.Therefore, if we want to make a real systemic research on this problem, we should make research on the choice of accounting measurement attributes in con-nection with the effect on accounting measurement by accounting environment.

The current situation that various measurement attributes exist together and the mixed situation of the meanings of various measure-ment attributes make it necessary to review accounting measurement attributes thoroughly.The situation that various measurement attrib-utes exist together will bring to much confusion, especially when information users don't have clear background on the different measurement attribute of those amounts in different items.The quick change of accounting environment in these years also makes it necessary to review accounting measurement attributes thoroughly.Through a thorough review on various accounting measurement attributes, it is helpful for accounting regulation organizations to setting regulation.If there are no clear benchmarks for the choice of accounting measurement attributes, then setting new accounting standard each time will require research on related accounting measurement problems in it from fresh start, which will cost much unnecessary expenses and may cause inconsistence between differ-ent accounting standards.A thorough review on various accounting measurement attributes will also be helpful to improve financial statements based on the research of the choice of accounting meas-urement attributes.

Excepting the“Introduction”part, the dissertation consists of five chapters.The main contents and views of these chapters are respectively introduced as followings.

Chapter 1 discusses the relationship between accounting meas-urement and accounting environment.Firstly, generally analyzes the economical element, scientific and technical element, political and legal element, social and culture element, education element in the accounting environment, and their effect on accounting.Then, it analyzes meanings, characteristics and basic elements of account-ing measurement, especially pointing out that different choice on measurement attributes will leave same measurement object showing different financial amount.And every financial statement element has many available attributes to be measured; therefore, attribute that ought to be measured should be determined before preparation of financial statements.Based on the above, this dissertation deeply analyzes the effect on accounting measurement by accounting envi-ronment.From economical system, economical development level, capital market and inflation, the effect on accounting measurement by economical environment is analyzed.From the effect on methods of accounting measurement, accounting measurement objects and accounting measurement information, the effect on accounting measurement by scientific and technical environment is analyzed. The effect on accounting measurement by political and legal envi-ronment is embodied in the related regulation on accounting meas-urement.From culture conception and social value views, the effect on accounting measurement by social and culture environment is analyzed.

Chapter 2 describes theoretical basis of the choice of account-ing measurement attributes.Firstly, the paper discusses the meas-urement theory base, pointing out that reliability and validity are two very important concepts in measurement theory; they are basic benchmarks for evaluation the design and results of measurement. Therefore, the paper analyzes meanings of reliability and validity and their relationship with the choice of accounting measurement attributes in detail.Furthermore, from the objective of accounting measurement, it points out that the major difference between specif-ic entity measurement objective and market value measurement objective is that the management of specific entity might has its own different views and expectation on the value of asset or liability at some point of time.When making choice of accounting measure-ment attributes, it is necessary to determine various accounting measurement attributes are based on market expectation or specific entity expectation, or attribute on which parts are based on market expectation, on which parts are based on specific entity expecta-tion.Then, describes theoretical base in economics, pointing out that if we want to determine the“value”in the choice of accounting measurement attributes, we should have a clear idea about value theory.While in economics, there are different value theories, which disclosing the rule of determination and change of market val-ue and price from different aspect and having some guiding meaning for the choice of accounting measurement attributes.The disserta-tion analyzes theory of asymmetrical information, pointing out that this theory is a foundation for determination of the need of the choice of accounting measurement attributes.Adverse selection will promote enterprises to fully disclose accounting measurement infor-mation and to provide all kinds of accounting measurement informa-tion.While the moral hazard in the principal and agent relationship caused by asymmetrical information relates closely with the income determination in accounting, notice should be given to its effect on income determination when making choice of accounting measure-ment attributes and another moral hazard that might happen, i.e. managers adjust account income in order to improve their reward level.At last, analyzes accounting theory base.The paper points out that accounting objective will not remain unchanged and accounting environment will affect the incurrence and development of accounting objective, then affecting the choice of accounting measurement attributes.In the developing process of accounting, there are different needs on accounting information characteristics in different era and different accounting environment has different needs on accounting information characteristics.The difference of accounting environment will also affect the inner configuration of accounting information characteristics, their relative importance, and the constraints in the accounting information characteristics, then affect the choice of accounting measurement attributes.It points out that to define elements of financial statements and analyze their characteristics is not just for definition but for correctly guiding accounting recognition and the choice of measurement attributes. Therefore, the meaning and characteristics of the most important element of financial statement-asset is analyzed.And new definition for asset is put forward.

Chapter 3 makes a research on six main accounting measure-ment attributes.Firstly, based on the analysis of theoretical bases in chapter 2, puts forward direct benchmarks for the choice of accounting measurement attributes: complying with accounting objective, complying with requirements of accounting information quality characteristics, complying with objective of accounting measurement.Contraposing the situation that the meaning of some measurement attributes are mixed, this dissertation sets forth the meanings of various measurement attributes and the relationship between them, especially pointing out that fair value should be trea-ted as a separate measurement attribute to be analyzed as other attributes.According to the direct benchmarks that put forward, characteristics of six normal measurement attributes in accounting theory and practice are analyzed deeply.Based on the above, the dissertation points out that there is not any perfect measurement attribute that complies with all the benchmarks, and various meas-urement attributes have their own characteristics and suitable envi-ronment.Therefore, when making choice of measurement attrib-utes, it is necessary to think about specific accounting environment to make the selection.

Chapter 4 mainly reviews and analyzes the history and current situation of social choice of accounting measurement attributes by the International Accounting Standards Committee/International Accounting Standards Board, America and China, and makes remarks on the results of related positive research abroad.IASC/IASB's choice is that from insisting on historical cost in the begin-ning evolves to use fair value more and more gradually, but doesn't abandon historical cost entirely.Moreover, IASC/IASB also uses current cost, net reliable value, market value, net selling price, present value etc.Although some of these terms whether belong to measurement attributes needs to discuss, we can see approximately that IASC/IASB has adopted different accounting measurement attributes under different situation.On the choice of accounting measurement attributes, America also from historical cost in the be-ginning evolves to use fair value more and more.Furthermore, the application of fair value tends to be wider and wider: more and more events or transaction using fair value, and the application scope of same event or transaction becoming much wider.However, America doesn't transform to entire fair value measurement mode. Just as the reason for postponing the effective date of SFAS 133, when the accounting environment is not entirely suitable for fair val-ue, the application scope of fair value is limited.The global finan-cial crisis that emerged from America credit crisis has also made FASB issue many guides for application of fair value.From the results of related positive research abroad, it shows that not all the results of positive research support a measurement attribute consist-ently.Moreover, the hypothesis of the relationship between asset value reflected on stock price and actual asset value of these posi-tive researches is based on the hypothesis of effective capital mar-ket.But in actual economic life, there is no entirely effective cap-ital market.The dissertation concludes the situation of using accounting measurement attributes in the new enterprise accounting standards system in China, pointing out that historical cost and fair value are the measurement attributes that used most often, but the usage of fair value is conditional with prudence, which relates to the current accounting environment of China.At last, analyzes the rea-sons of difference between China and western countries on the choice of accounting measurement attributes, pointing out that the reason lies on the difference of accounting environment, which em-body on economical environment, political and legal environment and social, culture and education environment.

Chapter 5 makes a research on the effect and application of the choice of accounting measurement attributes.Firstly, from theory aspect analyzes the effect on accounting recognition, recording and reporting by the choice of accounting measurement attributes.Every phase of recognition, scope of recognition and the constraints of cost effective and importance of recognition are affected by the choice of accounting measurement attributes.It also directly affects the role of financial reporting, the quality of financial reporting information and the process of financial reporting.And the economic conse-quences of the choice of accounting measurement attributes are dis-cussed.Then contraposing the normal problem in accounting prac-tice-“Accounting Information Distortion”, analyzes it in connection with the choice of accounting measurement attributes, pointing out that the choice of accounting measurement attributes has more or less connection with the“Rule Distortion”, “Rule-violating Distor-tion”and“Behavioral Distortion”of the“Accounting Information Distortion”and we can prevent these three kinds of“Accounting Information Distortion”with the choice of accounting measurement attributes to some extent.Therefore, enhancing the research on the choice of accounting measurement attributes has great meaning for accounting practice.Based on above research result, the disserta-tion puts forward suggestions for financial accounting regulation that related to the choice of accounting measurement attributes: ① the setting process of financial accounting regulation should be scientific and rational; ② conquer the bad effect of“route dependence”, while current accounting environment should be understood before setting new financial accounting regulation or amending existing financial accounting regulation; ③may consider enhancing research and improvement on theoretical framework such as financial accounting concept framework before setting financial accounting regulation, having clear and consistent definitions for accounting measurement attributes that used in financial accounting regulation. At last, based on analysis of the weakness of current financial state-ments related to accounting measurement, puts forward suggestions for improving financial statements in connection with the choice of accounting measurement attributes.

Key words: accounting environment; accounting measure-ment; choice of accounting measurement attributes; accounting reg-ulation; fair value