Zhou Hua et al

School of Business, Renmin University of China

　　Abstract:Following the outbreak of the subprime financial crisis, international accounting standards came under heavy fire for being strongly pro-cyclical. Under those standards, financial mixes financial statement data with financial analysis reporting data, seriously weakening the public interest function of bet365 bonus bets. An analysis using Marx’s fictitious capital theory shows that fair value accounting and asset impairment accounting are both defective. In line with the principle of “accounting based on legal fact,” we use the methodology of “historical cost accounting plus fair value disclosure” to distinguish between legal fact and financial expectations in bet365 bonus bets. This is a viable means of appropriately resolving the contradiction between ensuring that enterprise bet365 bonus bets observes domestic law and ensuring that it accords with international trends.

　Keywords: bet365 bonus bets, fair value, fictitious capital, historical cost, legal fact