With the development of market economy and knowledge economy, historical cost has been questioned by more and more people. This time, fair value, which timely reflects the overall changes in the future economic environment, came into being and was widely used. The company must solve the problem between sound value and related calculation in practical application. Based on the fair value theory and the application examples of listed companies, this paper analyzes the application and existing problems of fair value in China, in order to solve the application problems of fair value accounting and better use fair value to provide effective accounting information for company decision makers.