The recent financial crisis has cast some doubts on the use of fair value in financial statements and refreshed a theoretical debate concerning the pros and cons of this method, together with a sharper definition of its capability to satisfy the objectives of financial reports. Moving from this stream of literature, this paper (1) analyses the implementation of fair value method over the corpus of IAS/IFRS in order to evaluate the coherence of its application and (2) tries to define the stability of markets as a necessary premise for fair value adoption. From a normative perspective, finally, the paper proposes a more informative disclosure for the financial statement users, based on the uncertainties of fair value implementation.
Dal fair value ai fairy values: coerenza concettuale e condizioni di impiego del fair value negli IAS/IFRS
QUAGLI, ALBERTO
2009-01-01
Abstract
The recent financial crisis has cast some doubts on the use of fair value in financial statements and refreshed a theoretical debate concerning the pros and cons of this method, together with a sharper definition of its capability to satisfy the objectives of financial reports. Moving from this stream of literature, this paper (1) analyses the implementation of fair value method over the corpus of IAS/IFRS in order to evaluate the coherence of its application and (2) tries to define the stability of markets as a necessary premise for fair value adoption. From a normative perspective, finally, the paper proposes a more informative disclosure for the financial statement users, based on the uncertainties of fair value implementation.
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