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Fair Value Measurement in Financial Reporting

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  • Dana Dvořáková

Abstract

Measurement in financial accounting has been the most discussed issue in recent decades. The last very important result of the convergence process between IFRS and U.S. GAAP was adopting IFRS 13 - Fair Value Measurement in May 2011. The objective of IFRS 13 is to unify the approaches to determining fair value under IFRSs. The aim of this paper is to offer a comprehensive evaluation of the pros and cons that this standard brings.

Suggested Citation

  • Dana Dvořáková, 2011. "Fair Value Measurement in Financial Reporting," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2011(1), pages 60-75.
    • Handle: RePEc:prg:jnlefa:v:2011:y:2011:i:1:id:39:p:60-75
    DOI: 10.18267/j.efaj.39
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    References listed on IDEAS

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    1. Andrew Lennard, 2010. "The Case for Entry Values: A Defence of Replacement Cost," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 97-103, March.
    2. Joshua Ronen, 2008. "To Fair Value or Not to Fair Value: A Broader Perspective," Abacus, Accounting Foundation, University of Sydney, vol. 44(2), pages 181-208, June.
    3. Graeme Dean, 2010. "Background and Case for Exit Price Accounting," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 84-96, March.
    4. Benston, George J., 2006. "Fair-value accounting: A cautionary tale from Enron," Journal of Accounting and Public Policy, Elsevier, vol. 25(4), pages 465-484.
    5. Geoffrey Whittington, 2008. "Fair Value and the IASB/FASB Conceptual Framework Project: An Alternative View," Abacus, Accounting Foundation, University of Sydney, vol. 44(2), pages 139-168, June.
    6. Richard Macve, 2010. "The Case for Deprival Value," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 111-119, March.
    7. Geoffrey Whittington, 2010. "Measurement in Financial Reporting," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 104-110, March.
    8. Jo Danbolt & William Rees, 2008. "An Experiment in Fair Value Accounting: UK Investment Vehicles," European Accounting Review, Taylor & Francis Journals, vol. 17(2), pages 271-303.
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    More about this item

    Keywords

    Accounting; Assets; Fair value; Historical cost; Liabilities;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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