FAIR-VALUE ACCOUNTING – BETWEEN INNOVATION AND NEED

Inesa Iacob ()

THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, 2014, vol. 23, issue 1, 91-98

Abstract: This article deals with the changes that occurred in accounting in the recent period. Although the transformation has taken place in a slow pace, it is still evident. One of the main factors that contributed to it is the globalisation. Mainly, capital markets have an increasing importance nowadays, because companies tend to reach funds from investors all over the world. Starting from ideal models of accounting systems proposed by Müller (2013), defining features of each system are described. As we are talking about an ideal system, it is obvious that deviations from it are allowed, and this could be subject for further research. Taking the described classification, one could notice the preference of the accounting regulators for the fair-value accounting, which is also accused for exacerbating the downturn of capital markets in the recent global financial crisis.

Keywords: accounting system; fair-value accounting; innovation; performance (search for similar items in EconPapers)
Date: 2014
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