Abstract:

Forest is a typical example of natural capital.The difficulty of its fair value measurement is the key of the forest natural capital accounting application. Based on analysing the problem of the accounting measurement for the forest natural capital, this paper discusses the reality and possibility of transforming the economic measurement of the forest natural capital into the accounting measurement. Furthermore, the measurement framework is constructed from an accounting standpoint. At the same time, it explores the accounting measurement of the forest natural capital from three aspects: physical measurement, monetary measurement and application of monetary measurement approach in financial accounting system. Currently, the value appraisal methods should take from those applied in current mature economics as reference. However, economic measurement method for forest natural capital valuation is different from its accounting measurement method. Afterwards, the valuation result would be considered as fair value only if it satisfied the definition and restriction of fair value.

Key words: forest natural capital, fair value, measurement method