TITLE

Financial reporting quality: is fair value a plus or a minus?

AUTHOR(S)
Penman, Stephen H.
PUB. DATE
December 2007
SOURCE
Accounting & Business Research (Wolters Kluwer UK);2007 Special Issue, p33
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In this article the author examines aspects of fair value accounting of assets and liabilities. He notes that the statement of fair value for some assets and liabilities are required under guidelines established by the International Accounting Standards Board and by the U.S. Financial Accounting Standard Board. The author investigates the circumstances under which fair value accounting can be considered both a positive and a negative element. Also he defines fair value accounting and contrasts it with accounting for historical costs.
ACCESSION #
34151633

 

Related Articles

  • The Fairness of the Fair Value Concept. Kaur, Jasmine // International Journal of Business & Commerce;Nov2013, Vol. 3 Issue 3, p1 

    In recent years, international standard setters and regulators such as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have begun to favor the use of fair value accounting over historical cost accounting in financial reporting. A key reason...

  • The Accounting for Revenues and Impact of Fair Value. Cristin, Nicolae Traian // Ovidius University Annals, Series Economic Sciences;2015, Vol. 15 Issue 1, p852 

    On 28 May 2014, the IASB (International Accounting Standards Board) and FASB (the US accounting regulatory body) have jointly issued a new standard contains requirements for recognizing revenue from contracts with customers. IFRS 15 "Revenue from contracts with customers" will apply to financial...

  • A World of Fair Value. Pounder, Bruce // Strategic Finance;Aug2011, Vol. 93 Issue 2, p15 

    The article discusses changes in the fair-value provisions of the U.S. Financial Accounting Standards Board and the International Accounting Standards Board. With these changes, U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards have become almost alike...

  • The Debate over Fair Value Reporting. Jordan, Charles E.; Clark, Stanley J.; Pate, Gwen R. // CPA Journal;Feb2013, Vol. 83 Issue 2, p46 

    The article reports that the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been slowly shifting from historical cost to fair value reporting for the past several decades. The two bodies have made known that fair market value is the...

  • Fair-value changes loom for alternative funds. Jacobius, Arleen // Pensions & Investments;7/26/2010, Vol. 38 Issue 15, p4 

    The article offers information on the changes in the Fair-value accounting laid by Financial Accounting Statement 157 and its impact on investment and private equity managers and venture capitals. It states that the new proposal will expect the managers to answer the asset's value and methods...

  • What's fair? Dealy, Nigel; Singleton-Green, Brian // Accountancy;Jun2007, Vol. 139 Issue 1366, p77 

    In this article the authors examine proposals made in 2007 by the International Accounting Standards Board (IASB) to redefine the accounting term "fair value." The IASB opinion reflects that of the U.S. Financial Accounting Standards Board, according to the authors. Opinions on fair value, as...

  • COMPLETING THE CONCEPTUAL FRAMEWORK. CAIRNS, DAVID // Accountancy;Nov2012, Vol. 149 Issue 1431, p62 

    The article states the International Accounting Standards Board (IASB) has decided to complete its conceptual framework project without input from the U.S. Financial Accounting Standards Board (FASB) and suggests that convergence between the IASB and FASB is coming to an end.

  • Contract theory. O'Brien, Patricia C.; Scott, William R. // CA Magazine;Apr2012, Vol. 145 Issue 3, p44 

    The article discusses the new financial reporting's conceptual framework (CF) released by the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) in 2010 and its relation to the contract theory. It examines the changes in the revised CF and offers...

  • REBRANDING FAIR VALUE.  // Accountancy Ireland;Aug2011, Vol. 43 Issue 4, p17 

    The article discusses the potential significance of the rebranding of the term fair value in helping overcome the debate over such term during the global economic crisis. It mentions the factors which caused the financial crisis including the lack of consistency in fair value measurement and...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics