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EAN—13前缀码对应国家＊EAN—13（13位)＝前缀码(3位）+厂商识别码（4或5位)+商品项目代码（5或4位)+校验码（1位)000 —019；030 - 039; 060 - 139 美国020 - 029; 040 - 049；200 —299 店内码050 - 059 优惠券300 —379 法国380 保加利亚383 斯洛文尼亚385 克罗地亚387 波黑400 —440 德国450 —459；490 —499 日本460 —469 俄罗斯470 吉尔吉斯斯坦471 中国台湾474 爱沙尼亚475 拉脱维亚476 阿塞拜疆477 立陶宛478 乌兹别克斯坦479 斯里兰卡480 菲律宾481 白俄罗斯482 乌克兰484 摩尔多瓦485 亚美尼亚486 格鲁吉亚487 哈萨克斯坦489 中国香港特别行政区500 —509 英国520 希腊528 黎巴嫩529 塞浦路斯530 阿尔巴尼亚531 马其顿535 马耳他539 爱尔兰540 - 549 比利时和卢森堡560 葡萄牙569 冰岛570 —579 丹麦590 波兰594 罗马尼亚599 匈牙利600 ＆601 南非603 加纳608 巴林609 毛里求斯611 摩洛哥613 阿尔及利亚616 肯尼亚618 象牙海岸619 突尼斯621 叙利亚622 埃及624 利比亚625 约旦626 伊朗627 科威特628 沙特阿拉伯629 阿拉伯联合酋长国640 - 649 芬兰690 —695 中华人民共和国700 - 709 挪威729 以色列730 —739 瑞典740 危地马拉741 萨尔瓦多742 洪都拉斯743 尼加拉瓜744 哥斯达黎加745 巴拿马746 多米尼加750 墨西哥754 —755 加拿大759 委内瑞拉760 - 769 瑞士770 哥伦比亚773 乌拉圭775 秘鲁777 玻利维亚779 阿根廷780 智利784 巴拉圭786 厄瓜多尔789 —790 巴西800 —839 意大利840 - 849 西班牙850 古巴858 斯洛伐克859 捷克860 南斯拉夫865 蒙古867 朝鲜869 土耳其870 - 879 荷兰880 韩国884 柬埔寨885 泰国888 新加坡890 印度893 越南899 印度尼西亚900 —919 奥地利930 - 939 澳大利亚940 —949 新西兰955 马来西亚958 中国澳门特别行政区977 连续出版物978 & 979 图书980 应收票据981 & 982 普通流通券990 - 999 优惠券。
IBM错误代码解释以及解决方法在使用IBM产品或服务的过程中，有时可能会遇到各种错误代码。
这些错误代码可能涉及到不同的问题，需要我们仔细检查和解决。
在本文中，我们将解释一些常见的IBM错误代码，并提供相应的解决方法。
1. 500 - Internal Server Error（内部服务器错误）这个错误代码表示服务器遇到了一个无法处理的问题。
可能的原因包括服务器配置错误、网络连接问题或应用程序错误。
解决方法包括：-检查服务器配置文件，确保配置正确。
-检查网络连接是否正常，尝试重启网络设备。
-使用日志文件来查找潜在的应用程序错误，并修复相应的代码。
2. 404 - Not Found（未找到）这个错误代码表示请求的资源在服务器上不存在。
可能的原因包括文件被误删除、链接错误或服务器配置问题。
解决方法包括：-检查请求的资源是否存在于服务器上。
如果不存在，可以尝试恢复文件或重新上传文件。
-检查链接是否正确。
如果链接错误，可以尝试修复链接或更改链接地址。
-检查服务器配置文件，确保资源的路径和文件名称正确。
3. 403 - Forbidden（禁止访问）这个错误代码表示服务器拒绝了对请求资源的访问。
可能的原因包括权限不足、IP地址被拦截或访问规则被禁止。
解决方法包括：-检查访问权限，确保用户有足够的权限来访问资源。
-检查IP地址是否被服务器拦截。
如果是，则可以尝试解除拦截或添加到允许访问列表。
-检查访问规则，确保没有禁止访问请求资源的规则。
4. 502 - Bad Gateway（网关错误）这个错误代码表示作为代理或网关的服务器从上游服务器接收到了一条无效的响应。
可能的原因包括上游服务器故障、网络连接问题或配置错误。
解决方法包括：-检查网络连接是否正常。
如果网络连接有问题，可以尝试重启网络设备或使用其他网络连接。
-检查代理或网关服务器的配置文件，确保配置正确。
5. 503 - Service Unavailable（服务不可用）这个错误代码表示服务器当前无法处理请求，可能是因为过载或维护。
一些常见的状态码为：200 - 服务器成功返回网页404 - 请求的网页不存在503 - 服务器超时下面提供 HTTP 状态码的完整列表。
点击链接可了解详情。
您也可以访问HTTP 状态码上的 W3C 页获取更多信息。
一、临时响应1xx(临时响应)表示临时响应并需要请求者继续执行操作的状态码。
100(继续)请求者应当继续提出请求。
服务器返回此代码表示已收到请求的第一部分，正在等待其余部分。
101(切换协议)请求者已要求服务器切换协议，服务器已确认并准备切换。
二、成功2xx (成功)表示成功处理了请求的状态码。
200(成功)服务器已成功处理了请求。
通常，这表示服务器提供了请求的网页。
如果是对您的 robots.txt 文件显示此状态码，则表示 Googlebot 已成功检索到该文件。
201(已创建)请求成功并且服务器创建了新的资源。
202(已接受)服务器已接受请求，但尚未处理。
203(非授权信息)服务器已成功处理了请求，但返回的信息可能来自另一来源。
204(无内容)服务器成功处理了请求，但没有返回任何内容。
205(重置内容)服务器成功处理了请求，但没有返回任何内容。
与 204 响应不同，此响应要求请求者重置文档视图(例如，清除表单内容以输入新内容)。
206(部分内容)服务器成功处理了部分 GET 请求。
三、重定向3xx (重定向)要完成请求，需要进一步操作。
通常，这些状态码用来重定向。
Google 建议您在每次请求中使用重定向不要超过 5 次。
您可以使用网站管理员工具查看一下Googlebot 在抓取重定向网页时是否遇到问题。
诊断下的网络抓取页列出了由于重定向错误导致 Googlebot 无法抓取的网址。
300(多种选择)针对请求，服务器可执行多种操作。
服务器可根据请求者 (user agent) 选择一项操作，或提供操作列表供请求者选择。
301(永久移动)请求的网页已永久移动到新位置。
服务器返回此响应(对 GET 或HEAD 请求的响应)时，会自动将请求者转到新位置。
read econnreset的中文
read econnreset是一个英文短语，其中read表示读取，econnreset则是一个错误代码。
在计算机网络中，当客户端与服务器之间的连接被重置时，就会出现econnreset错误代码。
这种情况通常发生在网络连接不稳定或服务器负载过高的情况下。
econnreset错误代码的出现会导致网络连接中断，从而影响到网络通信的正常进行。
因此，当出现这种错误时，需要及时排查问题并解决。
在解决econnreset错误时，可以采取以下措施：
1. 检查网络连接是否稳定。
如果网络连接不稳定，可能会导致连接重置，从而出现econnreset错误。
因此，可以尝试重新连接网络或更换网络设备，以提高网络连接的稳定性。
2. 检查服务器负载是否过高。
如果服务器负载过高，可能会导致连接
重置，从而出现econnreset错误。
因此，可以尝试优化服务器配置或增加服务器数量，以降低服务器负载。
3. 检查网络协议是否正确。
如果网络协议不正确，可能会导致连接重置，从而出现econnreset错误。
因此，可以尝试更换网络协议或更新
网络协议版本，以确保网络协议的正确性。
总之，read econnreset是一个常见的网络错误代码，出现这种错误时需要及时排查问题并解决。
通过检查网络连接稳定性、服务器负载和网络协议等方面，可以有效地避免出现econnreset错误，保障网络通信的正常进行。
nrc否定响应码在互联网的世界里，每一个浏览器请求都是一件非常普遍的事情。
不过，每个请求都不一定都能够得到服务器的积极回复，有时候服务器也会给出一些消极的回应。
其中，nrc否定响应码就是一种比较常见的消极响应，它告诉用户，所请求的页面并不存在。
nrc否定响应码的全称是“404 Not Found”，HTTP响应状态代码为“404”，来自于HTTP协议的标准。
在RFC2616中对HTTP响应状态码做了详细的规范，其中404状态码的定义为：“服务器无法找到请求的页面。
这个页面可能已经被删除、更改了名称，或者暂时不可用”。
在实际应用中，nrc否定响应码还包括其他一些变种，比如“403 Forbidden”和“410 Gone”等。
其中，“403 Forbidden”提示用户无权访问所请求的页面，可能是由于页面设置了权限或者IP访问限制。
而“410 Gone”表示请求的页面已经永久删除，对于搜索引擎蜘蛛等需要访问内容更新的的工具来说，这个状态码很重要。
以上就是关于nrc否定响应码的一些基本描述，下面来看一下它的作用：1. 提示用户请求的页面不存在或已被删除。
2. 方便搜索引擎的索引更新，保证搜索结果的准确性。
3. 提醒网站管理员检查相关页面的有效性，优化网站建设。
4. 提高用户体验，减少用户的迷茫感。
当然，对于用户来说，看到nrc否定响应码并不一定是好事情，因为这意味着他们所要访问的页面已经不存在了。
不过，如果网站方能够很好地处理这个消极响应，比如给出友好的提示信息、提供搜索功能或者推荐相关内容等等，也能够有效提高用户的体验。
总之，nrc否定响应码在互联网的应用中扮演了很重要的角色。
对于网站管理员来说，注意对该状态码的处理非常必要，通过合理的应对能够提高网站的用户体验、搜索效果等等。
对于用户来说，也不要对这种状态码过于气馁，掌握一些相关的搜索技巧，还是能够从网络中找到自己想要的内容的。
mcafee8.5i全部报警提示代码及意思:1024 发现感染病毒的文件1025 已成功清除文件感染的病毒1026 无法清除文件中感染的病毒1027 感染病毒的文件已删除1028 无法删除感染病毒的文件1029 要从扫描中排除的文件1030 无法从扫描中排除项目1031 拒绝访问感染病毒的文件1032 感染病毒的文件已被移到隔离文件夹1033 无法将感染病毒的文件移动到隔离文件夹1034 扫描已完成未发现病毒1035 扫描被取消1036 内存已感染病毒1037 发现感染病毒的引导记录1038 扫描发现感染病毒的文件1039 扫描发现感染病毒的文件并已清除病毒1040 活动日志错误1041 扫描报告内存分配错误1042 路径太长1043 介质有写保护1044 找不到指定的介质1045 指定的扫描项目无效1046 文件 I/O 错误1047 磁盘 I/O 错误1048 扫描报告常规系统错误1049 扫描报告内部系统错误1050 无法修复受密码保护的项目1051 无法扫描受密码保护的项目1052 感染病毒的捆绑对象1053 发现感染病毒的文件1054 感染病毒的文件已删除1055 无法删除感染病毒的文件1056 文件已移动到隔离文件夹1057 无法将感染病毒的文件移动到隔离文件夹1059 扫描超时1060 引导区病毒已清除1061 清除引导区病毒时出错1062 发送警报时出错1063 指定的选项无效1064 服务已启动1065 服务已结束1066 任务成功启动1067 无法启动计划的任务1068 计划的任务已停止1069 停止计划的任务时出错1070 任务成功完成1071 任务已取消1076 记录信息时出错1077 内存分配错误1086 扫描进程错误1087 按访问扫描已启动1088 按访问扫描已停止1089 扫描设置1090 OAS 已停止1091 已阻止脚本运行1092 已被行为阻挡规则阻挡1093 已被缓冲区溢出保护阻挡1094 已被端口阻挡规则阻挡1095 将被行为阻挡规则阻挡1099 将被缓冲区溢出保护阻挡1100 在文件中检测到宏1101 已从文件中删除宏1118 更新成功完成1119 更新失败：请参阅事件日志1120 正在更新1121 更新已取消1122 正在升级1123 升级失败，参阅事件日志1124 升级已取消1125 DAT 版本不够新1126 扫描任务被 DAT 文件的自动更新而取消1127 OAS 扫描引擎已禁用1128 扫描超时1129 扫描任务被 WINDOWS 关闭1200 进程已启动1201 进程已结束1202 按需扫描已启动1203 按需扫描完成1204 报告操作系统序列号1270 病毒已隔离，没有清除程序1271 病毒已隔离，启发式扫描1272 病毒已隔离，不能清除1273 病毒已隔离，已加密1274 病毒未清除或隔离1275 病毒，启发式扫描，隔离失败1276 病毒，清除错误，隔离失败1277 病毒，已加密，隔离失败1278 病毒，没有清除程序，已删除1279 病毒，启发式扫描，没有清除程序，已删除1280 病毒，清除错误，已删除1281 病毒，已加密，已删除1282 病毒，没有清除程序，删除失败1283 病毒，启发式扫描，删除失败1284 病毒，清除错误，删除失败1285 病毒，已加密，删除失败1286 病毒，没有清除程序，已继续1287 病毒，启发式扫描，已继续1288 病毒，清除错误，已继续1289 病毒，已加密，已继续1290 病毒，没有清除程序，拒绝访问1291 病毒，启发式扫描，拒绝访问1292 病毒，清除错误，已拒绝访问1293 病毒，隔离失败，已删除1294 病毒，隔离失败，删除失败1295 病毒，隔离失败，已继续1296 病毒，隔离失败，已拒绝访问1297 病毒，删除失败，已隔离1298 病毒，删除失败，隔离失败1299 病毒，删除失败，已继续1300 病毒，删除失败，已拒绝访问1401 用户检测1402 用户清除和移动失败1403 用户检测已移动1404 用户清除和删除失败1405 用户检测已删除1406 用户检测已移动1407 用户移动和删除失败1408 用户检测已删除1409 用户检测移动失败1410 用户检测已删除1411 用户删除和移动失败1412 用户检测已移动1413 用户检测删除失败1500 已清除电子邮件感染的病毒1501 感染病毒的电子邮件已隔离1502 无法清除邮件中感染的病毒1503 检测到感染病毒的电子邮件1504 感染病毒的邮件项目已删除1505 电子邮件内容已过滤1506 电子邮件内容已阻挡1507 入站邮件因磁盘空间不足而挂起1508 入站邮件已恢复1509 启动请求处理成功1510 关闭请求处理成功1511 警告 - 异常终止1512 出现最大负载的情况1513 邮件病毒已隔离和清除1514 邮件病毒已隔离[未清除]1700 服务已成功启动1701 服务已成功结束1702 文件已阻挡1703 发现感染病毒的邮件正文1704 邮件被主题行扫描阻挡1705 发现感染病毒的文件1712 出现内部错误1713 按需扫描已启动1714 按需扫描已完成1715 防病毒引擎已停止1716 防病毒引擎已启动1719 无更新可用1721 磁盘空间不足1722 发现感染病毒的文件1725 产品即将达到使用寿命1726 引擎即将达到使用寿命1727 产品已超过支持期限1728 引擎已超过支持期限1729 已超过产品使用寿命1730 已超过引擎使用寿命1800 任务已成功启动1801 启动任务时出错1802 任务已完成1803 停止任务时出错1804 已发现并清除文件病毒1805 感染病毒的文件已成功隔离1806 感染病毒的文件已删除1807 感染病毒的文件已忽略。
网络错误代码在日常使用网络的过程中，我们可能会遇到各种网络错误代码。
这些错误代码通常是由服务器发送给客户端，用于指示发生了什么问题，使得客户端无法正常与服务器进行通信。
了解这些错误代码可以帮助我们更好地理解网络的工作原理，并且在遇到问题时能够更有效地进行故障排除。
本文将介绍一些常见的网络错误代码，并解释它们的含义和可能的原因。
1. 400 Bad Request400错误请求代码是指客户端发出的请求有错误或无效。
这可能是由于请求中包含无效的URL、缺少必要的参数、请求格式错误等原因所致。
在遇到此错误代码时，我们应该仔细检查请求的参数和格式，确保它们符合服务器的要求。
2. 401 Unauthorized401未经授权错误代码表示客户端未提供有效的身份验证信息，或者提供的身份验证信息不足以访问所请求的资源。
这通常发生在需要登录或提供访问凭据的情况下。
要解决此问题，我们需要提供有效的身份验证信息，以便服务器验证我们的身份。
3. 403 Forbidden403禁止错误代码表示服务器收到了请求，但拒绝了访问请求的权限。
这可能是由于服务器设置了访问控制列表（ACL），限制了对某些资源的访问，或者由于客户端未满足服务器的登录要求。
我们应该检查服务器的访问控制设置以及请求的处理方式，以确定具体的禁止原因。
4. 404 Not Found404未找到错误代码表示客户端请求的资源在服务器上不存在。
这可能是由于URL错误、文件已被删除或移动、服务器出现故障等原因所致。
在遇到此错误代码时，我们应该确认请求的URL是否正确，并检查资源是否仍然存在于服务器上。
5. 500 Internal Server Error500内部服务器错误代码表示服务器在处理请求时遇到了内部错误。
这可能是由于服务器端代码或配置错误、数据库连接问题、服务器资源不足等原因所致。
在遇到此错误代码时，我们通常无法直接解决问题，而需要联系服务器管理员进行故障排除和修复。
Successful Client Requests成功的客户端请求200 OK——正常201 Created——已创建202 Accepted——接受203 Non-Authorative Information——非Authorative信息204 No Content——无内容205 Reset Content——重置内容206 Partial Content——部分内容Client Request Redirected——客户端请求重定向300 Multiple Choices——多种选择301 Moved Permanently——永久移动302 Moved Temporarily——临时移动303 See Other——参见其他304 Not Modified——未修改305 Use Proxy——使用代理Client Request Errors——客户端请求错误400 Bad Request——错误的请求401 Authorization Required——需要授权402 Payment Required (not used yet)——需要付款（尚未使用）403 Forbidden——禁止404 Not Found——未找到405 Method Not Allowed——不允许的方法406 Not Acceptable (encoding)——不接受（编码）407 Proxy Authentication Required——需要代理授权408 Request Timed Out——请求超时409 Conflicting Request——冲突的请求410 Gone——消失411 Content Length Required——内容所需长度412 Precondition Failed——前提条件失败413 Request Entity Too Long——请求实体过长414 Request URI Too Long——请求URI太长415 Unsupported Media Type——不支持的媒体类型Server Errors——服务器错误500 Internal Server Error——内部服务器错误501 Not Implemented——未实现502 Bad Gateway——错误网关503 Service Unavailable——服务不可用504 Gateway Timeout——网关超时505 HTTP Version Not Supported——HTTP版本不受支持。
网络安全错误错误代码网络安全错误错误代码如下：1. 401 Unauthorized: 该错误表示请求未经授权。
可能是由于缺少或错误的身份验证凭据导致的。
解决方法是提供正确的身份验证信息或者联系系统管理员获取授权。
2. 403 Forbidden: 该错误表示服务器拒绝了请求，且没有授权。
可能是由于访问了受限资源或者请求的身份验证凭据无效导致的。
解决方法是确保权限正确且有效，如果问题仍然存在，则需要联系系统管理员。
3. 404 Not Found: 该错误表示所请求的资源在服务器上未找到。
可能是由于URL地址错误、文件被删除或者文件名被修改导致的。
解决方法是检查URL地址是否正确，并确保文件存在且文件名无误。
4. 502 Bad Gateway: 该错误表示服务器作为网关或代理，从上游服务器接收到无效的响应。
可能是由于上游服务器故障或配置不正确导致的。
解决方法是检查上游服务器的状态，并确保能够正确响应。
5. 503 Service Unavailable: 该错误表示服务器暂时无法处理请求。
可能是由于服务器过载、维护或故障导致的。
解决方法是等待一段时间后重试，或者联系网络管理员检查服务器状态。
6. 504 Gateway Timeout: 该错误表示作为网关或代理的服务器在等待上游服务器的响应超时。
可能是由于上游服务器故障、网络连接问题或超时设置不正确导致的。
解决方法是检查上游服务器的可用性及网络连接，并确保设置合理的超时时间。
7. 1001 DNS Resolution Failed: 该错误表示DNS解析失败，即无法将域名解析为相应的IP地址。
可能是由于DNS配置错误、网络连接问题或者域名不存在导致的。
解决方法是检查DNS 配置，确保网络连接正常，并确认域名正确存在。
8. 1002 Connection Timed Out: 该错误表示连接超时，即无法在一定时间内建立服务器连接。
可能是由于网络连接问题、服务器故障或防火墙限制导致的。
Analysis of the Implementation of Fair Value in ChinaXiaoyan LiuSchool of Business Administration, North China Electric Power UniversityBeijing, P. R. ChinaTel: 86-10-80798426 E-mail: lliu716@Lin WangSchool of Business Administration, North China Electric Power UniversityBeijing, P. R. ChinaTel: 86-10-80798426 E-mail: wanglin1987915@AbstractSince the application of New Accounting Standards, lots of attention has been concentrated on fair value measurement. This paper is an analysis of the implementation of fair value in China listed companies through an empirical method. By using the data of listed companies in 2007-2008, which belongs to the security markets of Shanghai and Shenzhen, we summarize the situation of applying the fair value measurement in listed companies, the effects of fair value measurement in profit aspect, as well as the problems to be resolved. The analysis is very helpful for both further researches on implementation guidance, and applying the fair value measurement appropriately in China listed companies.Keywords: Fair Value Measurement, Listed Company, New Enterprise Accounting Standards, Financial Instruments With the widely application of the international accounting standards, the new accounting standards for business enterprise in China were released in 2006, and applied from January 1st 2007 to reflect the economic situation more relatively. Among the new accounting standards, adopting fair value as a measurement tool is one of the biggest highlights both in theory and practice. How has it been used since 2007? In this paper, we analyze the implementation of fair value, using the data of listed companies in China, and summarize the problems in applying fair value.1.The application of fair value measurement in listed companies in ChinaAccording to the New Enterprise Accounting Standards, fair value is defined as the amount that an enterprise would pay or receive to transfer an asset or a liability in an arms length transaction, between knowledgeable parties. Fair value is adopted in many standards such as “the recognition and measurement of financial instruments”, “the biological assets”, “debt restructuring”, “merger”, and “exchange of non-monetary assets”.In the standard of “the recognition and measurement of financial instruments”, fair value is required to be adopted in initial recognition of financial assets. In the subsequent year-end measurement of financial assets, the available for sale securities and trading securities are required to use fair value as measurement tool. As shown in figure 1, in year 2007, among the 1328 listed companies, 362 companies held trading securities, covering 27% of the total; 345 companies held available for sale financial assets, covering 26% of the total, 140 owned the held-to-maturity investment, occupying 11%. In the annual reports of 2007, all of the listed companies holding financial instruments stated that they adopted fair value in related financial instruments measurement according to the new enterprise accounting standard, and disclosed the recognition and the subsequent measurement of financial assets and liabilities in notes. From the disclosure of 2007 annual report Shanghai market, 256 companies have balances in the account of gain or loss from changes in fair value, including the 169 companies owning gains and the remaining 87 companies holding losses. Comprehensively, the gains and losses from change of fair value mainly come from the trading securities and investment real estate.Of the 1328 listed companies, 761 held the investment real estate, occupying 57% of the overall. But in the investment real estate holding companies, historical cost measurement is adopted in most companies, Only 10 companies’ used fair value measurement, occupying little 1.13%. Among the 10 companies, 5 companies disclosed that the fair value are re the results of asset appraisal in the notes to financial reports, the other 5 companies gained fair value base on market transaction price of similar assets.2.The effect of fair value measurement on company performanceThe introduction of the fair value measurement affects many aspects of enterprise such as operating performance, earnings management and financial structure at different level. This paper mainly aims at the fair value measurement applications and its effects on enterprise performance.1842.1 The overall effects of fair value measurement on listed companiesBy August 31st, 2008, 1619 companies of Shanghai and Shenzhen market disclosed semi annual reports, with an overall ̞553.30 billion net income, excluded Gold Molybdenum (601958) for its incomparability. It increased by 19.31%. The account “gains or loss from the changes in fair value” existed in 381 companies, totaling ̞244.95 billion losses due to the changes in fair value, which was 309.52% of last year. Compared with the large losses, these companies listed ̞116.91 billion gains on this item in 2007. As announced in the first three season reports of 2008, only less than 60 listed companies gained profits from securities investment, most companies were suffering with negative gains from changes in the fair value, and more than 20 companies' losses exceeded ̞1 billion Yuan. The total of changes in the fair value of whole listed companies is nearly ̞2.9 billion.By 2009 April 15, 307 of 1047 companies which have their annual reports published disclosed information about gains or losses from changes in fair value, totaling a loss of ̞258.14 billion, compared with ̞128.3 billion gains from changes in fair value of the same 1047 companies in 2007. The ratio of gains or losses from investment and changes in fair value to total income before income taxes is 17.09%, 22.84% to with net income.2.2 Case studyWe take China International Marine Containers (Group) Ltd (CIMC) (000039) as a case to show the effects on company performance in the following. Table 1 shows us the related performance index information such as Revenue, Operating Income and Net income of CIMC Group in 2004-2008 annual reports. In the first three years from year 2004 to 2006, as Figure 2 and Figure 3 shown, Revenue, Operating Income and Net income, all of the performance indices of the group increased smoothly; in 2007, the performance increased greatly, and conversable in 2008 it began to decline, especially the net income declines more sharply than the revenues and operating income. From the overall situation, fluctuations of performance of CIMC Group in year and 2008, in which fair value measurement has been applied are significantly greater than those of the previous year before 2007.Table 2 summarizes the amounts and ratios of performance of CIMC Group in year 2007 and 2008, in which year the new accounting standards, especially the fair value measurement, have been were applied. In year 2007, the gains from changes in fair value amounted to ̞2.74 billion, occupying 7.93% of operating income, 8.66% of the net income of the current year. In the contract, In year 2008, the losses from changes in fair value amounted to ̞4.38 billion, occupying 24.3% of operating income, 31.13% of the net income of the current year.By analyzing the operating details of CIMC Group in 2008, things are clear that the ̞473.27 billion revenue earned during was 2.94% dropped than last year, and the ̞14.07 billion net income in 2008 was 55.55% dropped than last year. The main reason for the revenue drop lied in the dry containers discontinuation happened in the fourth quarter of 2008. As far as the sharply falling of net income is concerned, the two main reasons are important: one is the provision for the of dry containers discontinuation for ̞6.99 billion, and the other is the stock write-down, which resulting the gains from changes in fair value fell sharply. Why net income decline far outweigh the revenue? Among these two reasons, the ̞4.38 billion loss from changes in fair value play a more important role, which is reaching 31.13% of the net income. This is apparently different from the gains earned in 2007. Furthermore, from the data of annual reports in 2007 and 2008, we can see that the decline in value of trading securities and derivatives during the reporting period is responsible for the losses from changes in fair value.3.Problems in fair value applyingIn applying the fair value measurement, there are still lots of problems. Four main factors that prevent applying fair value measurement properly are concluded as follow:3.1 Lack of complete theory system and operational guidelinesAlthough the new accounting standards set up basic principles for the recognition and measurement of fair value, detailed theory framework and implementation guidelines are still lacked. For example, in the new accounting standards there is not any detailed principle about how to determine the fair value of assets from the similar asset transaction, such as in what kind of market, in what time, and which price to choose. In the annual reports of listed company in 2007 and 2008, some companies stated that in many subjects they have followed the new accounting standard, by using the price of similar assets in the active market quotation, to determine the fair value, In fact, due to the lack of standards. But because there is no publicly accepted principles, the fair value amounts largely depends on evaluation techniques, methods and professional judgment adopted by accounting personnel, especially those that need to use evaluation of the future cash flow of assets, the estimated amounts would differ greatly due to different date and the discount rate.3.2 Inadequate disclosure of fair value informationIn the annual reports of the listed companies in China, little information related to the process of determining the fair value is found. Although most companies disclosed the amounts of trading securities and other financial assets and financial liabilities, information on how to determine the fair value of these assets and liabilities, such as the valuation185of the concrete method and parameters of selection, has not been fully disclosed in the notes. Furthermore, in the financial statements some listed companies, important items such as the major trading, important matters, important accounting policy, and accounting estimates requested by the new accounting standards have been omitted. Therefore, disclosure about whether fair value measurement after the major trading has been applied can not be found.3.3 Lack of effective market environmentAccording to the new accounting standards, the access of fair value should be in an active, completely competitive market condition. It is required the knowledgeable parties to participate willingly in the transactions, in which information asymmetry should be as far as possible, and any commodity market price can be open to access, and thus they can trade transactions risk factors into consideration, and determine the transaction price properly.Although China's market economy has been established, the transition of the economic system has not been completed. There are still many disadvantages of the market condition for obtaining fair value. For instance, non-market factors still exists, non-monetary transactions between enterprise's are not regular, the markets for securities trading, property right trading market, and production material are not mature, and so on. Therefore, due to mature market condition suitable for the application of fair value, the soil and the environment, is not mature, the applying of fair value measurement in practice is not easy.3.4 Lack of highly qualified and skillful accounting personnelB ecause of the difficulty of the access of fair value, the professional skill and professional judgment ability of accounting personnel are requested put forward higher request. There are about 12 million accounting professionals in China, about 80% of which are workers with inferior practicing ability, who have not been educated systemic accounting theory. It is difficult for them to correctly understand the definition of fair value measurement, let alone to use. Therefore, there will be a long way for them to increase the professional skill and professional judgment ability. The low quality of accounting personnel in businesses is considered one of the problems to be resolved in the reasonable application of the fair value.4. SummaryB ased on the above analysis of data deriving from the annual reports of China listed companies in 2007-2008, we summarize the application situation of fair value measurement and its effects on performance aspects of company. In addition, we also analyze the problems existing in applying the fair value measurement.(1) Fair value has been adopted by China listed companies widely and smoothly. With the application of the new accounting standard, fair value measurement has been adopted in many standards, the recognition and measurement of financial instruments is the case in point. Nearly one third of companies measured trading securities, the typical financial asset, at fair value.(2) Fair value measurement affects the Net Income by the account gains or loss from change in fair value, the greater the fluctuations of market, the larger the effects. From this aspect, fair value is like a double-edged sword, that is, it can sensitively reflect the market situation. When the market is in prosperity time, fair value can boost the performance; in contrast, when the market setback, it also can suffer the listed company with great loss. Performances in 2007 and 2008 are examples in the above two cases.(3) In applying fair value measurement, there are still some problems to be resolves in the future. Both problems in the external environment such as system and market environment and internal factors are considered. There is a long way to go until qualified accounting personnel are developed, and related information about fair value measurement are fully disclosed.ReferencesXie, Shifen. (2004). Fair Value: Research on International Accounting Frontier Problem. Hunan Renmin Press. Ministry of Finance. Accounting Standards for Business Enterprises. (2006). Economic Science Press.Wang, Jiancheng, Hu Zhenguo. (2007). The Present Situation of Fair Value Measurement and Research on Related Issues. Accounting Research, (5):10-16.FASB. (2005). Fair Value Measurement. .FASB. (2006). SFAS 157, Fair Value Measurement. .186187Table 1. Performance of CIMC Group in 2003-2008 (Unit: Billion Yuan) 2003 2004 2005 2006 2007 2008Revenue 138 265.68 309.59 331.68 487.6 473.27Operating Income 9.58 30.13 30.23 27.6 34.57 17.67Net Income 6.83 23.89 26.69 27.72 31.65 14.07Table 2. Proportion of Gains or Losses from Changes in Fair Value to Performance of CIMC Group (Unit: B illion Yuan)2007 2008 Gains or losses from changes in fair value (1) 2.74 -4.38Operating Income (2) 34.57 17.67Net Income (3) 31.65 14.07Ratio:(1)/ (2) 7.93% 24.30%Ratio: (1) /(3) 8.66% 31.13%Figure 1. Distribution of Financial Instruments in 2007 of CIMC GroupFigure 3. Trend of Operating Income and Net Income in 2004-2008 of CIMC Group。
