The Routledge Companion to Fair Value and Financial Reporting  book cover
1st Edition

The Routledge Companion to Fair Value and Financial Reporting

Edited By

Peter Walton

ISBN 9780415423564
Published July 16, 2007 by Routledge
424 Pages 10 B/W Illustrations

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Book Description

Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by an internationally recognized expert, this book, on a controversial and intensely debated topic, is the only definitive reference source available on the topics of fair value and financial reporting.

Drawing chapters from a diverse range of contributors on different aspects of the subject together into one volume, it:

  • examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against
  • looks at fair value from a number of different theoretical perspectives, including possible future uses, alternative measurement paradigms and how it compares with other valuation models
  • explores fair value accounting in practice, including audit, financial instruments, impairments, an investment banking perspective, approaches to fair value in Japan and the USA, and Enron’s use of fair value

An outstanding resource, this volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.

Table of Contents

Part 1: Introduction  1. Introduction: The Nature of Fair Value  2. The Use of Fair Value in IFRS  3. What SFAS 157 does and does not Accomplish  4. The Case for Fair Value  5. Fair Values: Imaginary Prices and Mystical Markets  Part 2: Theoretical Analysis  6. Recent History of Fair Value  7. Fair Value and Valuation Models  8. Whither Fair Value?: The Future of Fair Value  9. Between a Rock and a Hard Place  10. Fair Value and Capital Markets  11. Fair Value: The Right Measurement Basis?  12. Measurement in Accounting and Fair Value  13. CCA: An Unsuccessful Attempt to Change the Measurement Basis  14. Alternatives to Fair Value  15. The Relevance and Reliability of Fair Value Measurement  16. The Fair Value Principle and its Impact on Debt and Equity  Part 3: Fair Value in Practice  17. Fair Value: A Cautionary Tale from Enron  18. The Insurance Industry and Fair Value  19. Fair Value Measurement for Corporate Entities, Insurance Companies and Retail Banks from an Investment Banker’s Perspective  20. Fair Value and the Auditor  21. Fair Value Accounting in the USA  22. A Japanese Perspective on Fair Value  23. Pension Accounting and Fair Value  24. Fair Value in IFRS: Issues for Developing Countries and SMEs  25. Fair Value and Financial Instruments  26. Fair Value and IAS 36

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Peter Walton Ph.D. FCCA is a researcher and journalist specialised in international accounting. He is a director of the ESSEC-KPMG Financial Reporting Chair at ESSEC Business School and editor of World Accounting Report (published by informa) and Accounting in Europe (published by Taylor & Francis).