摘要
In the eighth edition of International Valuation Standards （IVS） published by International Valuation Standards Committee （IVSC）, ＂Fair value＂ is introduced into the asset valuation standards as one specific kind of valuation beside the market value. This definition is not only quite different from the one in the accounting standards, but also difficult to explain in the perspective of asset valuation. This paper focuses on the ＂Fair Value＂ in order to make its relevant meaning and application scope clear in accounting and asset valuation respectively. The discussion helps to avoid the abuse and the misunderstanding of ＂Fair Value＂ for the sake of vague definition.
