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On fair value : are accountants over-ambitious?

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  • Philippe Danjou

Abstract

[eng] When publicly traded European companies finally adopt International Financial Reporting Standards (IFRS) at the start of 2005, there will surely be many benefits for investors. But it will also create numerous problems, and the complexity of the task should not be underestimated. The first set of problems is inherent to all large-scale changes. Information systems need time to adapt ; staff at all levels have to be trained ; financial reporting practices must be reviewed ; and loan agreements with financial institutions have to be amended to take account of contingency clauses. In all probability, accounting based measurements of business performance will be modified by the introduction of new standards and may become dissociated from the performance measurement methods used by company managers and their staff. The purpose of this article is to examine some of the changes that are under way or pending and to highlight the foreseeable consequences. . JEL classifications : M41

Suggested Citation

  • Philippe Danjou, 2003. "On fair value : are accountants over-ambitious?," Revue d'Économie Financière, Programme National Persée, vol. 71(2), pages 155-175.
    • Handle: RePEc:prs:recofi:ecofi_1767-4603_2003_num_71_2_4754
    DOI: 10.3406/ecofi.2003.4754
    Note: DOI:10.3406/ecofi.2003.4754
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    JEL classification:

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

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