FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES
Nowadays, there are many demands coming from all over the world to establish or to secure the possibility of comparability of the information provided in financial statements, and to make this information as reliable and accurate as possible, and therefore making it useful and beneficial for anyone...
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| Format: | Article |
| Language: | English |
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Sciendo
2012-01-01
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| Series: | Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice |
| Subjects: | |
| Online Access: | http://www.uvvg.ro/studiaeconomia/images/2012/p2/1.%20Miroslav%20Skoda,%20Peter%20Bilka%20-%20FAIR%20VALUE%20IN%20FINANCIAL%20STATEMENTS%20-%20ADVANTAGES%20AND%20DISADVANTAGES.pdf |
| _version_ | 1798039787821596672 |
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| author | Miroslav Škoda Peter Bilka |
| author_facet | Miroslav Škoda Peter Bilka |
| author_sort | Miroslav Škoda |
| collection | DOAJ |
| description | Nowadays, there are many demands coming from all over the world to establish or to secure the possibility of comparability of the information provided in financial statements, and to make this information as reliable and accurate as possible, and therefore making it useful and beneficial for anyone who uses them. These requests demand adjustment of the content of accounted data in every single country, which might have its own accounting standards, to international norms of accounting. Substantial form of the synchronization or unification that attempts to harmonize accounting is the International Accounting Standards / International Financial Reporting Standards (IAS/IFRS), which are mainly focusing on financial statements, and seeking the solutions for problems connected with it. Financial statements, being one of the main concerns of the IAS/IFRS that should lead to a better comparability, higher predication and also to achieve higher utility for users, is getting more and more important. One of the tools that should help achieve these demands in financial statements is called “Fair value”. Despite the intents and plans, however it is still quite difficult to establish, whether its contribution to the improvement of accounting standards is really beneficial. Main aim of this paper is to examine and depict the advantages and disadvantages connected to the fair value, providing the reader with objective information and thorough insight into the problems and benefits of fair value.Partial objectives of this paper are to define the concept of fair value, to provide information about theoretical background and evolution of fair value and to examine and describe the possible future development of fair value. |
| first_indexed | 2024-04-11T21:58:31Z |
| format | Article |
| id | doaj.art-4a5722d6c7344ae8a7f07587c7bea13d |
| institution | Directory Open Access Journal |
| issn | 1584-2339 2285-3065 |
| language | English |
| last_indexed | 2024-04-11T21:58:31Z |
| publishDate | 2012-01-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice |
| spelling | doaj.art-4a5722d6c7344ae8a7f07587c7bea13d2022-12-22T04:01:01ZengSciendoStudia Universitatis Vasile Goldis Arad, Seria Stiinte Economice1584-23392285-30652012-01-0122218FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGESMiroslav ŠkodaPeter BilkaNowadays, there are many demands coming from all over the world to establish or to secure the possibility of comparability of the information provided in financial statements, and to make this information as reliable and accurate as possible, and therefore making it useful and beneficial for anyone who uses them. These requests demand adjustment of the content of accounted data in every single country, which might have its own accounting standards, to international norms of accounting. Substantial form of the synchronization or unification that attempts to harmonize accounting is the International Accounting Standards / International Financial Reporting Standards (IAS/IFRS), which are mainly focusing on financial statements, and seeking the solutions for problems connected with it. Financial statements, being one of the main concerns of the IAS/IFRS that should lead to a better comparability, higher predication and also to achieve higher utility for users, is getting more and more important. One of the tools that should help achieve these demands in financial statements is called “Fair value”. Despite the intents and plans, however it is still quite difficult to establish, whether its contribution to the improvement of accounting standards is really beneficial. Main aim of this paper is to examine and depict the advantages and disadvantages connected to the fair value, providing the reader with objective information and thorough insight into the problems and benefits of fair value.Partial objectives of this paper are to define the concept of fair value, to provide information about theoretical background and evolution of fair value and to examine and describe the possible future development of fair value.http://www.uvvg.ro/studiaeconomia/images/2012/p2/1.%20Miroslav%20Skoda,%20Peter%20Bilka%20-%20FAIR%20VALUE%20IN%20FINANCIAL%20STATEMENTS%20-%20ADVANTAGES%20AND%20DISADVANTAGES.pdfFair valuefinancial statementinternational financial reporting standardsaccounting |
| spellingShingle | Miroslav Škoda Peter Bilka FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice Fair value financial statement international financial reporting standards accounting |
| title | FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES |
| title_full | FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES |
| title_fullStr | FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES |
| title_full_unstemmed | FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES |
| title_short | FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES |
| title_sort | fair value in financial statements advantages and disadvantages |
| topic | Fair value financial statement international financial reporting standards accounting |
| url | http://www.uvvg.ro/studiaeconomia/images/2012/p2/1.%20Miroslav%20Skoda,%20Peter%20Bilka%20-%20FAIR%20VALUE%20IN%20FINANCIAL%20STATEMENTS%20-%20ADVANTAGES%20AND%20DISADVANTAGES.pdf |
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