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Essay / Research Paper Abstract
This 4 page paper examines the use of fair value accounting, looking at what it is the how it is used according to various IAS and IFRS regulations. The paper then uses IAS 39 as an example to explore how this can impact on annual company accounts. The bibliography cites 5 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEfairval.rtf
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Unformatted sample text from the term paper:
came into force the concept of fair value became an issues that would have potentially far reaching implications and not always fulfil the usual ideas of what is and is
it fair in accounts. However, it is not only IAS 39 it is seen in. Benefits; The benefit of this and why it is called fair value is that
it gives the fair value using market value at the point of the accounts. This is the value that would be gained if the assets were to be sold that
day. For some assets this may be argued as giving a better picture of the real value of a company, especially where there is the desire to assess the level
of security in a company by a lender or investor. This approach may also be more valuable for those who lend money to the company and are interested in the
short term value for repayments or the use of security. However, it can also be argued the value given to the company
in terms of assets is more realistic rather than theoretical. In addition to this we can also argue that the use of fair value also goes against concepts such as
the historic accounting concept and the matching. This is also arguably a way of creating a more harmonised method of valuing a
company with less subjectivity in the UK and intentionally making accounts more comparable, especially for values given to items that are unlikely to be sold. Why it is not
vigorously enforced across all areas of the balance sheet; In many cases the assets are not there to be sold. The assets real value is not reflected in the market
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