Abstract

GOMEZ, Oda  and  ALVAREZ, Romer. Fair Value Measures in Financial Accounting. Cuad. Contab. [online]. 2013, vol.14, n.35, pp.441-461. ISSN 0123-1472.

At the end of the 20th century and the beginning of the 21st, both academy and regulators have debated upon the convenience of fair value measures included in the accounting standards in order to supply clear and comparable information. Because of this reason, it was regarded pertinent to begin this documental research on the financial accounting area, which is intended to describe the theoretical basis of the use of fair value. The results of this study confirm that fair value measurement in accounting standards has been generalized; its application implied a change in the accounting paradigm, which gave priority to the economic essence. Product of criticism, financial crises and the action of regulators, the International Accounting Standards Board (IASB) created a new norm in May 2011 in order to unify the application of this measurement on the International Financial Reporting Standards (IFRS). The results of these researches show the relevance of financial information in fair value measures. However, there is criticism to this measurement method because of the lack of objectivity when there is no active market. This situation requires further research on the subject.

Keywords : Fair value; financial information measuring methods; International Accounting Standards; International Financial Reporting Standards; Financial accounting; information value; assessment-Standards.

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