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What is Current value

Chapter 9
Concepts and Cases of Illicit Finance
Current value measures provide monetary information about assets, liabilities and related income and expenses, using information updated to reflect conditions at the measurement date. Because of the updating, current values of assets and liabilities reflect changes, since the previous measurement date, in estimates of cash flows and other factors reflected in those current values. Unlike historical cost, the current value of an asset or liability is not derived, even in part, from the price of the transaction or other event that gave rise to the asset or liability. Current value measurement basis include: (a) fair value; (b) value in use for assets and fulfilment value for liabilities; and (c) current cost.
Published in Chapter:
Inconsistencies in the Disclosures of Discount Rates: The Case of Financial Reporting in Portugal
Miguel Assunção (Instituto Politécnico de Lisboa, Portugal) and Fábio Albuquerque (Instituto Politécnico de Lisboa, Portugal)
Copyright: © 2023 |Pages: 30
DOI: 10.4018/978-1-6684-8587-3.ch009
Abstract
The use of the discount rate within financial reporting deserves particular attention from international standard-setting bodies because it has achieved prominence over time. This chapter uses archival research as a method and content analysis as a technique to assess mandatory and voluntary disclosure levels related to discount rates. The consolidated accounts for the year 2020 of listed entities in Euronext Lisbon are the sources of information. The results show differences in mandatory and disclosure levels regarding IAS/IFRS under analysis. Disclosures related to discount rates have been assessed either as an incidental topic or from a limited-scope analysis. Therefore, understanding the proper set of items to be disclosed and the factors that explain its disclosure, aligned with the efforts to ensure its compliance by legal authorities, may reduce asymmetries and enhance transparency in entities' financial reporting.
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