Measurement in Financial Reporting

• Autores: Geoffrey Whittington
• 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. 104-110
• Idioma: inglés
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• Resumen

  • Much of the current thinking of accounting standard setters about measurement seems to be based on an idealized view of markets as being complete and in perfectly competitive equilibrium. In such conditions, there is a unique market price based on full information for every asset and liability, and there is an obvious attraction in using this price as the measure for accounting. This explains the apparent enthusiasm for single ideal measurement methods based on market price, such as fair value (FV), defined in SFAS 157 as a market selling price...