An Experiment In Fair Value Accounting
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An Experiment In Fair Value Accounting The State Of The Art In Research And Thought Leadership On Accounting For Life Assurance In The Uk And Continental Europe
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Author : Joanne Horton
language : en
Publisher:
Release Date : 2008
An Experiment In Fair Value Accounting The State Of The Art In Research And Thought Leadership On Accounting For Life Assurance In The Uk And Continental Europe written by Joanne Horton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
'Fair value' is currently the central topic of debate in the development of accounting standards. While it has now been defined to mean an exit price in US GAAP, the IASB is still considering its own definition, and some commentators are arguing for versions of entry price, or for differing prices in different circumstances or for different types of asset and liability. The FASB and IASB are aiming to achieve full fair value accounting for financial instruments, and both have already made this optional in many circumstances. But both theoretical and practical challenges still remain to a mandatory requirement. And whether fair values (exit or entry) should be used in revenue recognition and in presenting performance; and how far changes in fair value should be recognised as gains and losses in income or earnings when markets are not deep and active, remain hotly contested areas of dispute. Such measurement issues are likely to prove the most controversial stage in the current revision and convergence of the FASB's and IASB's conceptual frameworks.One industry where practical experiments in wholesale fair value accounting have been developing in the UK and elsewhere since the 1990s is life insurance. Standard setters have also taken up the challenge of determining the most appropriate accounting. The latest proposals from IASB, under 'Phase II' of its project on insurance contracts, that are currently out for discussion now contemplate requiring a form of fair value accounting by insurers. While insurance is often regarded as the technical preserve of industry specialists and the actuarial profession, most of the issues of principle are common to accounting for all kinds of assets and liabilities in all kinds of businesses. The life insurance experiments and related debates can therefore help to illuminate the wider discussion of the future role of fair value accounting. And what is decided as the standard for life insurance may in turn change the way accounting is done more generally - or alternatively fear of such a consequence may end up inhibiting the adoption of the best alternative for insurance. So the arguments about life insurance accounting are too important to be left to those directly involved in it.
An Experiment In Fair Value Accounting
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Author : Joanne Horton
language : en
Publisher:
Release Date : 2007
An Experiment In Fair Value Accounting written by Joanne Horton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Accounting categories.
The Decision Usefulness Of Additional Fair Value Disclosures
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Author : Theresa Herrmann
language : en
Publisher: Springer
Release Date : 2018-12-28
The Decision Usefulness Of Additional Fair Value Disclosures written by Theresa Herrmann and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-28 with Business & Economics categories.
Conducting an experiment Theresa Herrmann investigates why nonprofessional investors fail to incorporate disclosures on fair value estimates into their investment decision and what causes this exclusion. Differentiating between different types of disclosures and the development of the fair value (gain vs. loss) the results indicate that with a fair value gain, none of the disclosure information increases decision usefulness, irrespective of the presentation format. When a fair value loss occurs, fair value disclosures presented in a salient presentation format decrease decision usefulness. Thus, investors have varying information needs that are strongly linked to the development of a firm’s key asset.
Fair Value Measurement
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Author : Mark L. Zyla
language : en
Publisher: John Wiley & Sons
Release Date : 2012-10-23
Fair Value Measurement written by Mark L. Zyla and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-23 with Business & Economics categories.
FAIR VALUE MEASUREMENT Practical Guidance and Implementation "Writing Fair Value Measurement was a monumental task fraught with controversy not only in the U.S., but also abroad. Having coauthored a book with Mark as well as written one myself, I was even more impressed that Mark was able to navigate these fair value minefields and produce a work that will be a tremendous help to accountants and non-accountants alike. If you are looking for a 'one-stop' book on fair value measurement, this is it!" Neil J. Beaton, CPA/ABV, CFA, ASA, Managing Director, Valuation Services, Alvarez & Marsal "In recent years, the FASB and the IASB have added many requirements for various assets and liabilities to be measured at fair value. In this book, Zyla clearly describes how to implement fair value measurement and how investors and creditors should interpret it. The crisp writing and illuminating analysis will help readers to grasp the essence of fair value accounting and to apply it wisely." J. Edward Ketz, Associate Professor of Accounting, Pennsylvania State University "The focus of the book is on fair value measurement based on level 3 inputs. This is a critical area of valuations for financial reporting due to a false comfort given by routine application of evaluating models and assumptions without real possibilities of calibration. Mark Zyla offers an extraordinary help in understanding the reliability of the inputs and the outputs of the different methodologies and the inherent biases in each of them. The book is a precious support for better valuation both in U.S. GAAP and in IFRS fair value reporting." Mauro Bini, Full Professor of Corporate Finance, Bocconi University; Chairman, Management Board OIV (Organismo Italiano di Valutazione) Essential guidance on the fair value measurement process Now in a second edition, Fair Value Measurement: Practical Guidance and Implementation helps you succeed in understanding the fair value accounting rules that entities must follow. The result is a resource that you can rely on to understand the importance of valuation and the concepts that define it. In basic, nontechnical language, author Mark Zyla presents practical direction for best practices of financial valuation as well as for understanding the many FASB pronouncements involving fair value. An essential guide for auditors and valuation specialists, Fair Value Measurement: Practical Guidance and Implementation, Second Edition brings you up to speed on what fair value really means.
The Routledge Companion To Fair Value In Accounting
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Author : Gilad Livne
language : en
Publisher: Routledge
Release Date : 2018
The Routledge Companion To Fair Value In Accounting written by Gilad Livne and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Business & Economics categories.
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.
Mark To Market And Fair Value Accounting
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Author : James W. Curtis
language : en
Publisher: Nova Science Publishers
Release Date : 2009
Mark To Market And Fair Value Accounting written by James W. Curtis and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Accounting categories.
This book focuses on Fair Value Accounting which is a market-based accounting system for determining the value of assets and liabilities. Since the mid-1970's, the Financial Accounting Standards Board (FASB), the accounting standard setter that derives its informal authority from the Securities an Exchange Commission (SEC), has gradually been moving the nation from an accounting system based entirely on historic cost-based measurements of assets and liabilities to one based in part on fair value. Its basic reasoning is that fair value accounting provides market-based information that is more meaningful to investors. In 2006, FASB released Financial Accounting Standards No. 157, which refined previous fair value directives to further define the concept and clarified how to value instruments. FAS 157 went into effect in late 2007, a period that coincided with the growing severity of the current sub-prime-based financial turmoil. The worsening crisis helped fuel opposition to FAS 157. Opponents, including insurance firms and banks, argued that FAS 157 and fair value accounting protocol exacerbated the effects of the financial crisis by forcing holders to severely write down distressed or illiquid assets, which were often mortgage-backed securities, to levels far below their "true economic values". This book consists of public domain documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.
Fundamental Issues Related To Using Fair Value Accounting For Financial Reporting
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Author : Mary E. Barth
language : en
Publisher:
Release Date : 1995
Fundamental Issues Related To Using Fair Value Accounting For Financial Reporting written by Mary E. Barth and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Accounting categories.
Fair Value Measurement Basis For Conclusions
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2009
Fair Value Measurement Basis For Conclusions written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Disclosure of information categories.
Fair Value Measurements
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Author : Mark L. Zyla
language : en
Publisher: John Wiley & Sons
Release Date : 2009-12-04
Fair Value Measurements written by Mark L. Zyla and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-04 with Business & Economics categories.
A hands-on volume for financial executives with guidance on the fair value measurement process In today's dynamic and volatile markets, whether buying or selling, what corporate officers need to know is the worth of an asset today, a task that for many has become complex and at times confusing. Fair Value Measurements: Practical Guidance and Implementation demystifies this topic, offering you a nuts-and-bolts guide of the most recent developments in preparing financial statements using fair value measurements. This straightforward book covers the best practices on measuring fair value in a business combination and how to subsequently test the value of these assets for impairment. Filters complicated insider concepts into easy-to-understand information on the valuation specialist's function Discusses the many new FASB pronouncements involving fair value Instantly familiarizes you on the ins and outs of fair value financial disclosure Well-written, conversational in tone, and filled with valuable insights, Fair Value Measurements: Practical Guidance and Implementation lifts the veil of confusion from the substantial and growing requirements for fair value disclosures.
Fair Value Measurement Illustrative Examples
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2009
Fair Value Measurement Illustrative Examples written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Disclosure of information categories.