TITLE

The Debate over Fair Value Reporting

AUTHOR(S)
Jordan, Charles E.; Clark, Stanley J.; Pate, Gwen R.
PUB. DATE
February 2013
SOURCE
CPA Journal;Feb2013, Vol. 83 Issue 2, p46
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
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 present and future primary basis for financial accounting. However, detractors believe that historical costs still embody the most logical measurement basis for financial statement presentation.
ACCESSION #
87368413

 

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