The Routledge Companion to Fair Value in Accounting (Routledge Companions in Business, Management and Marketing)

The Routledge Companion to Fair Value in Accounting (Routledge Companions in Business, Management and Marketing)

by Garen Markarian (Editor), Gilad Livne (Editor)

Synopsis

The concept of fair value marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings.

Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which:

  • examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against
  • looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguments against the use of fair value accounting
  • explores fair value accounting in practice, involvement in the Great Financial Crisis, implications for managerial reporting discretion, compensation and investment

This volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.

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More Information

Format: Hardcover
Pages: 360
Edition: 1
Publisher: Routledge
Published: 08 Jun 2018

ISBN 10: 113865650X
ISBN 13: 9781138656505

Media Reviews

'Fair value is a central notion in accounting practice, research and standard setting. This book, whose chapters are authored by top-notch accountants and academics, rolls over each of these dimensions to provide an authoritative and comprehensive analysis of the state-of-art and future developments in this area. I think it is a `must' for those interested in fair value accounting.' - Salvador Carmona, Rector, IE University, Spain. Past President of the European Accounting Association and past editor of the European Accounting Review.

'Perhaps no issue in accounting has been as controversial as fair value. Written from the unique perspectives of leading scholars around the world, this collection explores its far reaching implications for managers, regulators, and the stability of financial markets. An engaging and accessible foray into the complex world of fair value accounting.' - Karen Nelson, Texas Christian University, USA

Author Bio
Gilad Livne is Professor of Accounting at the University of Exeter, UK. Garen Markarian is Chair of Financial Accounting at WHU-Koblenz, Germany and Professor of Accounting at the University of Exeter, UK.