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FAIR VALUE IN THE CONTEXT OF ACCOUNTING QUALITY.
- 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