Ideal and useful accounting information should be relevant and reliable. Information related to purpose and objective decision-making is related to the reliability of reflecting the true facts of the past. There is a certain conflict between them, and it is difficult to obtain truly relevant and reliable information. The realistic choice should be to improve the relevance of accounting information as much as possible under the premise of ensuring basic reliability, so as to finally realize the usefulness of accounting information. The application of fair value model is a highlight of China's accounting standards reform in 2006. This paper attempts to study the influence of fair value accounting model on information reliability and relevance, which is helpful to deepen people's understanding of the new accounting standards and how to coordinate the relevance and reliability of accounting information quality.