Historical Cost vs Fair Value in Accounting: Consequences for the Quality of Financial Information and the True and Fair View
In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Claudia Cătălina CIOCAN [verfasserIn] |
|---|
| Format: |
E-Artikel |
|---|---|
| Sprache: |
Englisch ; Rumänisch |
| Erschienen: |
2022 |
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| Schlagwörter: |
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| Übergeordnetes Werk: |
In: CECCAR Business Review - The Body of Expert and Licensed Accountants of Romania, 2020, 3(2022), 9, Seite 3-14 |
|---|---|
| Übergeordnetes Werk: |
volume:3 ; year:2022 ; number:9 ; pages:3-14 |
| Links: |
|---|
| DOI / URN: |
10.37945/cbr.2022.09.01 |
|---|
| Katalog-ID: |
DOAJ022392459 |
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| 520 | |a In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed. | ||
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10.37945/cbr.2022.09.01 doi (DE-627)DOAJ022392459 (DE-599)DOAJ888bd82e82294ee49d9ca038244e0821 DE-627 ger DE-627 rakwb eng rum HC10-1085 HG1-9999 Claudia Cătălina CIOCAN verfasserin aut Historical Cost vs Fair Value in Accounting: Consequences for the Quality of Financial Information and the True and Fair View 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed. historical cost fair value information quality conservatism true and fair view Economic history and conditions Finance In CECCAR Business Review The Body of Expert and Licensed Accountants of Romania, 2020 3(2022), 9, Seite 3-14 (DE-627)1741708133 26688921 nnns volume:3 year:2022 number:9 pages:3-14 https://doi.org/10.37945/cbr.2022.09.01 kostenfrei https://doaj.org/article/888bd82e82294ee49d9ca038244e0821 kostenfrei https://www.ceccarbusinessreview.ro/historical-cost-vs-fair-value-in-accounting-consequences-for-the-quality-of-financial-information-and-the-true-and-fair-view-a246d/download-PDF/ kostenfrei https://doaj.org/toc/2668-8921 Journal toc kostenfrei GBV_USEFLAG_A SYSFLAG_A GBV_DOAJ GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_2863 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 AR 3 2022 9 3-14 |
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Historical Cost vs Fair Value in Accounting: Consequences for the Quality of Financial Information and the True and Fair View |
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In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed. |
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In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed. |
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In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed. |
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