Fair Value Accounting: A Historical Review Of The Most Controversial Accounting Issue In Decades
Historically, there have been many disputes in the area of corporate financial reporting. However, one of the primary issues of disagreement between practitioners, regulators, and theoreticians is that of valuation of financial statement components. The latest twist in the evolution of valuation is...
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| Veröffentlicht in: | Journal of business & economics research (Littleton, Colo.) Colo.), 2010-12, Vol.8 (4), p.77 |
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| container_title | Journal of business & economics research (Littleton, Colo.) |
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| creator | Emerson, David J. Karim, Khondkar E. Rutledge, Robert W. |
| description | Historically, there have been many disputes in the area of corporate financial reporting. However, one of the primary issues of disagreement between practitioners, regulators, and theoreticians is that of valuation of financial statement components. The latest twist in the evolution of valuation is the push for (and against) the use of a fair value approach. The purpose of this paper is to examine the history and evolution of how the most critical elements of an entity's financial statements are valued. We provide a history of valuation of financial statement components, and identify the issues involved. Further, we examine the criticisms of actions taken by the regulatory bodies in their efforts to standardize and advance accounting practices. Particularly, we focus on the evolution of fair value measurements. Arguments both for and against the implementation of fair value accounting are provided. |
| doi_str_mv | 10.19030/jber.v8i4.705 |
| format | Article |
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| ispartof | Journal of business & economics research (Littleton, Colo.), 2010-12, Vol.8 (4), p.77 |
| issn | 1542-4448 2157-8893 |
| language | eng |
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| subjects | Accounting policies Accounting procedures Accounting research bulletins Accounting theory Bankers associations Capital markets Committees CPAs Fair value Financial reporting Financial statements Historical analysis Present value Securities markets Stock exchanges Studies Valuation |
| title | Fair Value Accounting: A Historical Review Of The Most Controversial Accounting Issue In Decades |
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