THE MODEL OF HISTORICAL COST AND FAIR VALUE IN THE CONTEXT OF NATIONAL AND INTERNATIONAL REGULATIONS

Nicoleta Maria Cioara () and Adriana Tiron Tudor
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Nicoleta Maria Cioara: Babes-Bolyai University, Faculty of Economics and Business Administration Cluj-Napoca, Romania

EuroEconomica, 2010, issue 24, 91-98

Abstract: The concept of a true and fair view is representative for the submission of the entities’ financial statements, considering that all other principles are derived and shall be subject to it. Along with the entry into force of Directive IV of the EEC, the financial statements should give a true and fair view on enterprises, and historical cost has been officially considered the main basis of assessment in accounting, the other bases being considered derivative thereof. This step oriented and opened the process of accounting normalization to the capital market, giving priority to the accounting mechanisms based on common law, against the rigorous and exhaustive ones. Our research takes into consideration a quantitative research, by analyzing the reevaluation alternatives of the listed Romanian entities on the Bucharest Stock Exchange, components of the BET index.

Keywords: historical cost; fair value; tangible assets (search for similar items in EconPapers)
Date: 2010
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