Measurement: A Way Forward

R. G. Walker and Stewart Jones

Abacus, 2003, vol. 39, issue 3, 356-374

Abstract: Australia has a long tradition of using methods of valuation which depart from the traditional ‘historical cost’ model—and this has steadily been reflected in regulatory requirements and practices for different industries. However, while many forms of market value accounting have been introduced into a variety of accounting standards, the Australian Accounting Standards Board's conceptual framework (CF) has not led these changes, nor provided any substantive guidance on measurement issues. This article suggests criteria that can be used to select among accounting measurement alternatives.

Date: 2003
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