The Routledge Companion to Fair Value and Financial Reporting

Edited by Peter Walton

© 2007 – Routledge

406 pages | 10 B/W Illus.

Purchasing Options:
Hardback: 9780415423564
pub: 2007-05-24
US Dollars$225.00

About the Book

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

About the Editor

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).

About the Series

Routledge Companions in Business, Management and Accounting

Routledge Companions in Business, Management and Accounting are prestige reference works providing an overview of a whole subject area or sub-discipline. These books survey the state of the discipline including emerging and cutting edge areas. Providing a comprehensive, up to date, definitive work of reference, Routledge Companions can be cited as an authoritative source on the subject.

A key aspect of these Routledge Companions is their international scope and relevance. Edited by an array of highly regarded scholars, these volumes also benefit from teams of contributors which reflect an international range of perspectives.

Individually, Routledge Companions in Business, Management and Accounting provide an impactful one-stop-shop resource for each theme covered. Collectively, they represent a comprehensive learning and research resource for researchers, postgraduate students and practitioners.

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