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What is Fair Value

Chapter 10
Throughput Accounting in a Hyperconnected World
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter:
The Decision Process Based on the Accounting Information System
Traian Ovidiu Calotă (Titu Maiorescu University, Romania) and Alin Eliodor Tănase (Titu Maiorescu University, Romania)
Copyright: © 2019 |Pages: 19
DOI: 10.4018/978-1-5225-7712-6.ch010
Abstract
Historical cost is the main basis for assessing tangible assets in the annual financial statements. However, the accounting regulations applicable in Romania allow the valuation of tangible investments at fair value determined by authorized persons. Once chosen, this option must be applied consistently for the entire class of tangible assets subject to revaluation. By January 1, 2015, national regulations did not allow the return from the fair value method to historical cost method. The chapter aims to present both the accounting and tax treatments to be adopted when choosing the fair value, as well as those related to returning to the cost-based approach.
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Chapter 7
Accounting Standards in the U.S. Banking Industry during the Financial Crisis
Trading value under ideal market conditions. There may be different fair values for the same item depending on which method is used to calculate the value of the asset and which factors are taken into account for the calculation. The calculation may be based on similar assets available in the market or theoretical model used to forecast a value.
Published in Chapter: Accounting Standards in the U.S. Banking Industry during the Financial Crisis; From: Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems
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Chapter 12
Joint Enterprise and Financial Position Consolidated at the Date of Acquisition
The amount at which an asset is bought or sold in an arm’s-length transaction in which neither party is forced to act.
Published in Chapter: Joint Enterprise and Financial Position Consolidated at the Date of Acquisition; From: Throughput Accounting in a Hyperconnected World
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Chapter 12
Important Managerial Controversies in Conversion of Financial Statements
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter: Important Managerial Controversies in Conversion of Financial Statements; From: Management Accounting Standards for Sustainable Business Practices
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Chapter 3
Manipulating Business Performances by Creative Accounting
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter: Manipulating Business Performances by Creative Accounting; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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Chapter 8
The Effect of Accounting Manipulation on the Business Performances
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter: The Effect of Accounting Manipulation on the Business Performances; From: Management Accounting Standards for Sustainable Business Practices
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Chapter 9
Inconsistencies in the Disclosures of Discount Rates: The Case of Financial Reporting in Portugal
Fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.
Published in Chapter: Inconsistencies in the Disclosures of Discount Rates: The Case of Financial Reporting in Portugal; From: Concepts and Cases of Illicit Finance
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Chapter 8
Fraud Risk Management for Listed Companies' Financial Reporting
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter: Fraud Risk Management for Listed Companies' Financial Reporting; From: Network Security and Its Impact on Business Strategy
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Chapter 5
Convergence and Divergence Regarding Business Combinations
The amount at which an asset is bought or sold in an arm’s-length transaction, in which neither party is forced to act.
Published in Chapter: Convergence and Divergence Regarding Business Combinations; From: Sustainability Reporting, Ethics, and Strategic Management Strategies for Modern Organizations
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Chapter 3
Gamification as a New Approach in International Accounting Education in the Digitalizing World: Gamification Application in Teaching the International Measurement Principles
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