摘要：自投資性房地產準則頒布以來，其計量模式的選擇就受到了廣大學者的關注，2006年準則中首次發布了公允價值計量模式，希望我國上市公司能夠在投資性房地產后續計量模式中采納，實現與國際會計準則的趨同。本文首先以公允價值計量模式的優勢為背景，分析了自新準則頒布三年以來，滬深兩市上市公司投資性房地產計量模式的運用情況，得出結論：雖然公允價值計量模式有它自身的優勢，但我國運用公允價值計量投資性房地產的上市公司為數不多。接著，提出產生上述現象的兩方面原因：一是投資性房地產準則不完善；二是公允價值計量模式下對財務指標的影響比較大。然后具體分析了這兩大原因，準則中的問題：公允價值確定艱難；公允價值獲取成本高；公允價值觀下會增加企業稅負。對財務指標產生影響的分析中，本文選取兩家采用不同模式計量投資性房地產的上市公司進行比較，分析了在不同計量模式下，對公司財務報表相關要素及相關財務指標的影響，得出結論：采用公允價值模式會導致企業的財務狀況和經營成果不穩定，以至于大部分企業對之望而卻步。最后針對以上問題，提出相應的對策：完善投資性房地產準則；加強會計人員的職業培訓；給予優惠的稅收政策以及合理應對房地產價格波動。

關鍵詞：公允價值；公允價值計量模式；投資性房地產

Abstract：Since the promulgation of the investment real estate criteria，the choice of measurement model by the majority of the attention of scholars，the 2006 guidelines were first published in the fair value measurement model，China's listed companies adopted in the investment real estate subsequent measurement mode to achieve convergence with international accounting standards．The first advantage of the fair value measurement model as the background，analysis of the three years since the promulgation of the new guidelines，the use of the Shanghai and Shenzhen listed companies to invest in real estate measurement model，concluded that：Although the fair value measurement model has its own advantages，but one of the few listed companies in China's use of fair value measurement of investment property．Then，for these phenomena for two reasons：First，investment in real estate criteria imperfect；the greatest impact on the financial indicators in the fair value measurement model．Then a detailed analysis of these two reasons，the issue of guidelines：the fair value to determine difficult；the fair value of acquisition costs；fair values will increase the tax burden．Analysis of the impact of financial indicators，the paper selected two different modes of measurement of investment real estate listed companies to compare the measurement mode, the impact of the relevant elements of the company's financial statements and related financial indicators，derived conclusion：The fair value model will lead to the instability of the financial position and operating results，that most of the enterprises of the prohibitive．Finally，the above problems，countermeasures：the perfect investment property guidelines；to strengthen the vocational training of accounting personnel；to give preferential tax policies，as well as a reasonable response to fluctuations in real estate prices．  

Key words：Fair value；Fair value measurement model；Investment property