The economics of fair value accounting: what did the US accounting profession know, and when did it know it?

Michael M. Grayson

International Journal of Critical Accounting, 2009, vol. 1, issue 4, 381-389

Abstract: This article reminds the reader that companies must produce their output efficiently or else they will become high-cost producers and get competed out of existence. This article quotes published research to show that adoption of models other than historical cost (including fair value accounting) moves companies away from efficient production of their output.

Keywords: fair value accounting; efficient production; accounting profession; USA; United States. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijcrac:v:1:y:2009:i:4:p:381-389

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