Fair Value and Financial Reporting

Authored by: David Cairns

The Routledge Companion to Accounting, Reporting and Regulation

Print publication date:  September  2013
Online publication date:  October  2013

Print ISBN: 9780415625739
eBook ISBN: 9780203103203
Adobe ISBN: 9781136243509


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The chapter deals with the role of fair value measurement in the context of financial reporting under International Financial Reporting Standards (IFRS). Many commentators see IFRS as fair value-based standards and some believe that IFRS require many assets and liabilities to be measured at fair value at each reporting date. This chapter addresses these issues. In doing so, it distinguishes between the use of fair value measurement at each reporting date (the fair value model) and other uses of fair value measurement, a distinction which some commentators do not make.

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