The Case for Entry Values: A Defence of Replacement Cost

• Autores: Andrew Lennard
• Localización: Abacus: A journal of accounting, finance and business studies, ISSN 0001-3072, Vol. 46, Nº 1, 2010 (Ejemplar dedicado a: EAA SYMPOSIUM, TAMPERE, 13 MAY 2009—WANTED: FOUNDATIONS OF ACCOUNTING MEASUREMENT), págs. 97-103
• Idioma: inglés
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• Resumen

  • While delighted to be invited to contribute to this symposium I was at first, perhaps understandably, a little daunted. The suggestion that I might focus on the case for entry values was certainly congenial to my views, but the volume of the scholarship on measurement in financial reporting is vast (and that literature includes major contributions from fellow panellists). But the case for current entry values has recently been considered at some length by Rosenfield, an exit price advocate (2006), and his view that they ‘should be considered if for no other reason than to put them finally to bed (as if anything could ever be made final in financial reporting)’ provides a challenge worthy of response, even if limitations of time prevent a response that is anything close to comprehensive....