Abstracting and IndexingРИНЦReferativny Zhurnal VINITI RAS Worldcat Google Scholar Online availableEastvieweLIBRARY.RU Biblioclub |
Fair value concept evolution
Available online: 22 June 2011 Subject Heading: REFORMING OF THE REPORTING JEL Classification:
A process of the historical value accounting model replacement with the fair value model, which is underway in the IFRS and US GAAP system, has revealed difficulties in the application of this accounting model for financial statements generation, and caused numerous discussions of experts and scientists. The existing definition of the “fair value” term in IFRS is being reasonably criticized by the professional society and scientific community as dubious and ambiguous. The final draft standard Fair Value Estimate published by the IFRS Council includes a consistent definition of the “fair value” term and a common fair value determination guidelines, which reflects serious changes in the fair value concept. Keywords: International Financial Reporting Standards (IFRS), financial statements, fair value measurement |
ISSN 2311-9381 (Online)
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