Fair value Accounting between the Advocacy and Opposition
The conceptual framework of the financial reporting for 2018 clearly indicates fair value as one of the alternatives to the accounting measurement in paragraphs (6-12) and from (12-16) as one of the foundations of the accounting measurement. The increased interest in fair value is due to the unr...
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| Main Authors: | , |
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| Format: | Article |
| Language: | Arabic |
| Published: |
University of Kufa, Faculty of Administration and Economics
2022-01-01
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| Series: | مجلة الغري للعلوم الاقتصادية والادارية |
| Online Access: | https://journal.uokufa.edu.iq/index.php/ghjec/article/view/3261 |
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| Summary: | The conceptual framework of the financial reporting for 2018 clearly
indicates fair value as one of the alternatives to the accounting
measurement in paragraphs (6-12) and from (12-16) as one of the
foundations of the accounting measurement. The increased interest in fair
value is due to the unrelenting efforts that coincided with the efforts of
(IASB) International Accounting Standard Board and (FASB) Financial
Accounting Standard Board through joint action to issue standards,
interpretations and clarifications regarding fair value measurement.
Through the adoption of (IASB) the standard issued by (FASB) No. (157)
in 2006 regarding the fair value as a draft for discussion in 2009, the
approaches adopted in the measurement of financial and non-financial
assets and liabilities were discussed. These discussions sought to focus on
the importance of adopting the fair value because of the information it
provides to stakeholders, so that accountants reach a convergence in the
issuance of IFRS13 (fair value measurement) in 2011. However, there are
conflicting professional and academic attitudes and research trends
regarding the adoption of fair value. The article aims to review the two
directions of analysis, interpretation and criticism by reviewing some of
the studies that are concerned with the topic. The results show that the
fair value is an important measurement basis that matches the
requirements of stakeholders |
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| ISSN: | 3006-1911 3006-192X |