Abstract

PEREA-MURILLO, Sandra Patricia. Critical Perspective of Fair Value in the Context of the Financial Crisis. Cuad. Contab. [online]. 2015, vol.16, n.spe42, pp.761-779. ISSN 0123-1472.  https://doi.org/10.11144/Javeriana.cc16-42.pcvr.

This document is part of the conceptual reflections on the issuance of the fair value standard by regulatory organizations such as the FASB and IASB, in the framework of the 2008 financial crisis, which started in the United States as a result of real-estate bubbles (also known as subprime loans). The research aims to outline -from a critical perspective- the way to measure fair value and its incidence on the financial crisis. The study is framed in a qualitative approach based on the review of specialized literature, written by contemporary accounting thinkers, addressed from a standpoint based on the critical theory. As a conclusion, this research highlights the use of levels of unobservable capital inflows for the determination of fair value, derived from the complexity of inactive markets where the reporting entity uses internal assumptions to fix the price of assets and liabilities which are actually difficult to verify.

Keywords : fair value; financial crisis; accounting principles.

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