AbstractIn the us subprime mortgage crisis in the global financial crisis is causing, exposed the accounting standards in many problems, including the fair and equitable value measurement model, credit risk, securitization transaction subjects, the international accounting standard setting bodies: the international accounting standards board (IASB) and the financial accounting standards board (FASB) this in succession out specific Suggestions: established financial crisis FCAG advisory panel () has issued draft version released guidelines, and for criterion revision, etc. This article from the international accounting standard setting bodies to relevant accounting standards revision of the reason, revision of the basis, the paper Outlines the revised content, including content including accounting standards revision level and the fair and equitable value measurement model and accounting system, accounting system information and international accounting supervision mode, subprime mortgage securitization accounting standards, etc. According to the financial crisis with revised related international accounting standards, extended to China's accounting standards, and to our accounting criterion constituting level, the accounting system, supervision and institutions, fair value standard specific standards are discussed, according to China's specific conditions, market conditions, concrete including system of accounting standards and the changing of development direction, change trend, fair-value accounting measurement model, accounting supervision system, financial derivatives accounting measurement methods, and accounting personnel ability quality aspects of accounting standards in China the perfect Suggestions.Keywords: the subprime crisis; Financial crisis; International accounting standards; Accounting standards