Back to Search Start Over

FAIR VALUE IN THE CONTEXT OF ACCOUNTING QUALITY.

Authors :
Paliulienė, Lina
Knyvienė, Indrė
Source :
Conference Proceedings International Scientific & Professional Conference Contemporary Issues in Economy & Technology, CIET; 2022, p1-10, 10p
Publication Year :
2022

Abstract

The purpose of this article to analyse evaluation of financial statements' elements at fair value, an impact of the fair value on qualitative characteristics of accounting information: understandability, relevance, reliability and comparability. The fair value provides more understandable, relevant, reliable and comparable accounting information than a historical cost. However, this method of evaluation receives a lot of criticism. When there is no active market, accounting information's understandability, relevance, reliability and comparability, evaluating according to the fair value, is disputed. In particular, the reliability of accounting information is questioned. However, despite the criticism, an application of the fair value's method is the only possibility correctly to identify a value of financial statements' clauses, which is particularly relevant to users of accounting information when making optimal economic decisions. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISBNs :
9789537220259
Database :
Complementary Index
Journal :
Conference Proceedings International Scientific & Professional Conference Contemporary Issues in Economy & Technology, CIET
Publication Type :
Conference
Accession number :
163348376