Debate Regarding Measuring Accounting Value: Historical Cost Against Fair Value

Victor Munteanu () and Marilena Zuca ()

Knowledge Horizons - Economics, 2017, vol. 9, issue 1, 77-84

Abstract: The transition from historical cost to fair value represents an option with major implications in accounting, because it is a complex process that requires tuning to today’s trends of national and global economy. We can state that with all the advantages of using historical cost it has its limitations and it is” getting old”. That doesn’t mean that will be abandoned but substituted when it is needed with another value. At present, the lack of historical value is inconceivable; many practitioners consider it to be the best method to evaluate assets.

Keywords: Fair Value; Historical Cost; Evaluation; Financial Statements; Use Of Accounting Information; Viable; IASB; IFRS (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:9:y:2017:i:1:p:77-84

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