Fair Value Accounting: Current Status And A Proposal For Convergence
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Published:2011-03-30
Issue:4
Volume:10
Page:17
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ISSN:2157-9393
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Container-title:International Business & Economics Research Journal (IBER)
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language:
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Short-container-title:IBER
Author:
Baluch Catherine,Cohen Reuben,Soto Henry,Tucker Pamela,Volkan Ara,Wright Gail
Abstract
Accounting for fair values is a complex subject full of controversial recognition, measurement, and reporting rules. This paper first analyzes the current status of fair value accounting, highlighting the criticisms of the current fair value accounting standards. Next, the U.S. and international standards are discussed to highlight the areas where they differ. Finally, an accounting approach for fair values is proposed that reports the economic reality and the financial condition of a firm and may be used to achieve global convergence.
Publisher
Clute Institute
Subject
Marketing,Economics and Econometrics,General Materials Science,General Chemical Engineering
Cited by
1 articles.
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