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    Rights statement: This is the peer reviewed version of the following article: McDonough, R, Panaretou, A, Shakespeare, C. Fair value accounting: Current practice and perspectives for future research. Journal of Business Finance and Accounting. 2020; 47: 303– 332. doi: 10.1111/jbfa.12447 which has been published in final form at https://onlinelibrary.wiley.com/doi/abs/10.1111/jbfa.12447 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

    Accepted author manuscript, 1.24 MB, PDF document

    Embargo ends: 14/03/22

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

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Fair Value Accounting: Current Practice and Perspectives for Future Research

Research output: Contribution to journalJournal article

Published

Standard

Fair Value Accounting : Current Practice and Perspectives for Future Research. / McDonough, Ryan; Panaretou, Argyro; Shakespeare, Catherine.

In: Journal of Business Finance and Accounting, Vol. 47, No. 3-4, 01.03.2020, p. 303-332.

Research output: Contribution to journalJournal article

Harvard

McDonough, R, Panaretou, A & Shakespeare, C 2020, 'Fair Value Accounting: Current Practice and Perspectives for Future Research', Journal of Business Finance and Accounting, vol. 47, no. 3-4, pp. 303-332. https://doi.org/10.1111/jbfa.12447

APA

McDonough, R., Panaretou, A., & Shakespeare, C. (2020). Fair Value Accounting: Current Practice and Perspectives for Future Research. Journal of Business Finance and Accounting, 47(3-4), 303-332. https://doi.org/10.1111/jbfa.12447

Vancouver

McDonough R, Panaretou A, Shakespeare C. Fair Value Accounting: Current Practice and Perspectives for Future Research. Journal of Business Finance and Accounting. 2020 Mar 1;47(3-4):303-332. https://doi.org/10.1111/jbfa.12447

Author

McDonough, Ryan ; Panaretou, Argyro ; Shakespeare, Catherine. / Fair Value Accounting : Current Practice and Perspectives for Future Research. In: Journal of Business Finance and Accounting. 2020 ; Vol. 47, No. 3-4. pp. 303-332.

Bibtex

@article{d0634dce7e964d2bbac0ebfd024d94f7,
title = "Fair Value Accounting: Current Practice and Perspectives for Future Research",
abstract = "A fundamental issue debated in the accounting literature centers on the appropriate basis for which to measure firms{\textquoteright} assets and liabilities. During the last several decades, scholars have generated a growing body of important insights about the use of the fair value measurement attribute in financial reports around the globe. In this paper, we provide an overview of the institutional background of fair value accounting and the associated accounting standards that prescribe the use of fair value measurements under International Financial Reporting Standards and Generally Accepted Accounting Principles in the US. We discuss and document the extent to which firms across different industries and accounting regimes recognize and disclose in their financial reports assets and liabilities measured at fair value and we reflect on aspects of the fair value accounting literature. In doing this, we identify several areas in which additional research can further our understanding of fair value measurements and disclosures. ",
keywords = "Fair value accounting, FASB, IASB",
author = "Ryan McDonough and Argyro Panaretou and Catherine Shakespeare",
note = "This is the peer reviewed version of the following article: McDonough, R, Panaretou, A, Shakespeare, C. Fair value accounting: Current practice and perspectives for future research. Journal of Business Finance and Accounting. 2020; 47: 303– 332. doi: 10.1111/jbfa.12447 which has been published in final form at https://onlinelibrary.wiley.com/doi/abs/10.1111/jbfa.12447 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving. ",
year = "2020",
month = mar,
day = "1",
doi = "10.1111/jbfa.12447",
language = "English",
volume = "47",
pages = "303--332",
journal = "Journal of Business Finance and Accounting",
issn = "0306-686X",
publisher = "Wiley-Blackwell",
number = "3-4",

}

RIS

TY - JOUR

T1 - Fair Value Accounting

T2 - Current Practice and Perspectives for Future Research

AU - McDonough, Ryan

AU - Panaretou, Argyro

AU - Shakespeare, Catherine

N1 - This is the peer reviewed version of the following article: McDonough, R, Panaretou, A, Shakespeare, C. Fair value accounting: Current practice and perspectives for future research. Journal of Business Finance and Accounting. 2020; 47: 303– 332. doi: 10.1111/jbfa.12447 which has been published in final form at https://onlinelibrary.wiley.com/doi/abs/10.1111/jbfa.12447 This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.

PY - 2020/3/1

Y1 - 2020/3/1

N2 - A fundamental issue debated in the accounting literature centers on the appropriate basis for which to measure firms’ assets and liabilities. During the last several decades, scholars have generated a growing body of important insights about the use of the fair value measurement attribute in financial reports around the globe. In this paper, we provide an overview of the institutional background of fair value accounting and the associated accounting standards that prescribe the use of fair value measurements under International Financial Reporting Standards and Generally Accepted Accounting Principles in the US. We discuss and document the extent to which firms across different industries and accounting regimes recognize and disclose in their financial reports assets and liabilities measured at fair value and we reflect on aspects of the fair value accounting literature. In doing this, we identify several areas in which additional research can further our understanding of fair value measurements and disclosures.

AB - A fundamental issue debated in the accounting literature centers on the appropriate basis for which to measure firms’ assets and liabilities. During the last several decades, scholars have generated a growing body of important insights about the use of the fair value measurement attribute in financial reports around the globe. In this paper, we provide an overview of the institutional background of fair value accounting and the associated accounting standards that prescribe the use of fair value measurements under International Financial Reporting Standards and Generally Accepted Accounting Principles in the US. We discuss and document the extent to which firms across different industries and accounting regimes recognize and disclose in their financial reports assets and liabilities measured at fair value and we reflect on aspects of the fair value accounting literature. In doing this, we identify several areas in which additional research can further our understanding of fair value measurements and disclosures.

KW - Fair value accounting, FASB, IASB

U2 - 10.1111/jbfa.12447

DO - 10.1111/jbfa.12447

M3 - Journal article

VL - 47

SP - 303

EP - 332

JO - Journal of Business Finance and Accounting

JF - Journal of Business Finance and Accounting

SN - 0306-686X

IS - 3-4

ER -