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Fair value in financial accounting

Author

Listed:
  • J. Ryska

    (Czech University of Agriculture, Prague, Czech Republic)

  • A. Valder

    (Czech University of Agriculture, Prague, Czech Republic)

Abstract

By progression of the expanding use of the International Accounting Standards, fair value is being pushed ahead instead of standard historical costs. The extension of the International Accounting Standards for financial instruments and long-term assets leads to the publishing of real net income of the enterprise. The necessity to express the fair values of assets for accountancy places specialists of this profession in a new position of professionals having a common language with investors. This trend started deepening when the International Valuation Standards Committee began to co-operate with the International Accounting Standards Committee more closely. This caused the harmonization of basic terms used for valuation of property.

Suggested Citation

  • J. Ryska & A. Valder, 2003. "Fair value in financial accounting," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 49(11), pages 526-532.
    • Handle: RePEc:caa:jnlage:v:49:y:2003:i:11:id:5442-agricecon
    DOI: 10.17221/5442-AGRICECON
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