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The Fair Value Principle and its Impact on Debt and Equity

Theoretical Traditions, Conceptual Models and Analysis of Existing IFRS

Authored by: Wüstemann Jens , Bischof Jannis

The Routledge Companion to Fair Value and Financial Reporting

Print publication date:  May  2007
Online publication date:  August  2012

Print ISBN: 9780415423564
eBook ISBN: 9780203815151
Adobe ISBN: 9781136713101

10.4324/9780203815151.ch16

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Abstract

Accounting thought has it that consistency of accounting standards is widely regarded as a crucial qualitative characteristic of superior accounting systems (Moxter 2003). In this respect, it is noticeable that the hopes of the international accounting community are today centred on the asset and liability approach (e.g. IASB 2006b) and on fair value as a uniform measurement attribute (e.g. FASB, CON7). Some even view these two paradigms as the ‘hidden agenda’ of international standards setters.

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