Deaconu, Adela and Nistor, Cristina Silvia and Filip, Crina (2009): Legitimacy to develop fair value measurement standards: The Case of the IVSC Discussion Paper – Determination of fair value of intangible assets for IFRS reporting purposes. Forthcoming in: Research Business Review , Vol. 3, No. 9 (2009)
Download (220kB) | Preview
This research studies, through a content analysis of the comment letters to the IVSC project on fair value determination of intangible assets, the legitimacy of this professional body, or of the accounting associations, to develop measurement standards specific to this accounting concept. At present, with the exception of FAS 157, no professional standard offers clear technical solutions for fair value determination for financial reporting purposes. We have come to the conclusion that, among respondents, accountants are more reserved than valuators in what regards the IVSC regulating of the fair value measurement. The Anglo-Saxon respondents are more open to accept the IVSC DP as compared to respondents from other countries, hence the IVSC legitimacy to develop fair value measurement standards. Generally, we consider that accounting bodies, rather than valuation bodies, should have legitimacy to develop fair value measurement standards.
|Item Type:||MPRA Paper|
|Original Title:||Legitimacy to develop fair value measurement standards: The Case of the IVSC Discussion Paper – Determination of fair value of intangible assets for IFRS reporting purposes|
|English Title:||Legitimacy to develop fair value measurement standards: The Case of the IVSC Discussion Paper – Determination of fair value of intangible assets for IFRS reporting purposes|
|Keywords:||fair value, professional standards, valuation techniques, guidance, project acceptation, value hierarchy|
|Subjects:||M - Business Administration and Business Economics; Marketing; Accounting > M0 - General > M00 - General
G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing; Trading volume; Bond Interest Rates
M - Business Administration and Business Economics; Marketing; Accounting > M4 - Accounting and Auditing > M41 - Accounting
G - Financial Economics > G3 - Corporate Finance and Governance > G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
M - Business Administration and Business Economics; Marketing; Accounting > M4 - Accounting and Auditing > M40 - General
M - Business Administration and Business Economics; Marketing; Accounting > M2 - Business Economics > M21 - Business Economics
|Depositing User:||Adela Deaconu|
|Date Deposited:||18. Aug 2009 18:34|
|Last Modified:||12. Feb 2013 09:31|
Barlev B., Haddad J.R. (2002), Fair value accounting and the management of the firm, http://web.ebscohost.com.
Carnegie G.D., Napier C.J. (1996), Critical and interpretative histories: insights into accounting’s present and future through its past, Accounting, Auditing & Accountability Journal, Vol. 9, No. 3, pp. 7-39.
Dawson C. (2002), Practical Research Methods, How To Books Publisher, UK.
Deaconu A. (2009), Valoarea justă – concept contabil (Fair value – an accounting concept), MBA course, Faculty of Economics and Business Administration, available in Romanian by request to the author, 2009.
FASB (2006), FAS 157 Fair Value Measurements, www.fasb.org.
Gernon H., Meek G.K. (2001), Accounting: an international perspective, Irwin McGraw-Hill Publications, Fifth Edition, Singapore.
Herrmann D., Saudagaran S. M., Thomas W. B. (2005), The quality of fair value measures for property, plant, and equipment, http://web.ebscohost.com.
Holsti O.E., Content analysis for the social sciences and humanities, Addison-Wesley.
ICAEW (2007), EU Implementation of IFRS and the fair value directive – A report for the European Commission – Executive Summary.
IVSC (2007a), Discussion paper: Determination of fair value of intangible assets for IFRS reporting purposes, http://www.ivsc.org/pubs/exp_drafts/0901_gn16_intangible_assets.pdf.
IVSC (2007b), Comment letters for IVSC Discussion paper: Determination of fair value of intangible assets for IFRS reporting purposes, http://www.ivsc.org/pubs/comment/intangibleassets/index.htm.
IVSC (2008), International Valuation Standards, 7th edition, translation in Romanian, ANEVAR, Bucureşti.
Kenny S., Larson Y., Lobbying behaviour and the development of international accounting standards – The case of the IASB’s joint venture project, European Accounting Review, No. 3, pp. 531-554.
Kraft P. (2005), Fair value methodologies, Journal of Investment Compliance, Vol. 6. No. 1, pp. 16-22.
Mitchell R.K., Agle B.R., Wood D.J., Toward theory of stakeholders identification and salience: defining the principle of who and what really counts, Academy of Management Review, 1997, Vol. 22, No. 4, pp. 853-886.
Nair R.D., Frank W.G. (1980), The impact of disclosure and measurement practices on international accounting classifications, The Accounting Review, Vol. LV, No. 3, pp. 426-50.
Nobes C. (1998), Towards a general model of the reasons for international differences in financial reporting, Abacus, Vol. 34, No. 2, http://web.ebscohost.com.
Previts G.J., Parker L.D. and Coffman E.N. (1990), An accounting historiography: subject matter and methodology, Abacus, Vol. 26, No. 2, pp. 136-58.
Smith M. (2003), Research methods in accounting, SAGE Publication, UK.
Windels P., Christiaens J., The adoption of accrual accounting in Flemish public centers for social welfare: examining the importance of agents of change, working paper, February 2007, 2007/451, Universiteit Gent, Faculteit economie en Bedrijfskunde.