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International Accounting Convergence in the Field of Fair Value Measurement

Author

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  • Diana COZMA IGHIAN

    (Technical University of Cluj Napoca, North University of Baia Mare, Romania)

Abstract

The investors’ desire for high-quality, internationally comparable financial information that is useful for decision-making in increasingly global capital markets imposed an international convergence, the ultimate goal of which is a single set of international accounting standards that companies worldwide would use for both domestic and cross-border financial reporting. The guidance, set out in IFRS 13 Fair Value Measurement and the update to Topic 820 (formerly referred to as SFAS 157), completes a major project of the boards’ joint work to improve IFRSs and US GAAP and to bring about their convergence. This article describes the controversial history of fair value measurement and the main novelties in the field of fair value measurement, arising from the international convergence process.

Suggested Citation

  • Diana COZMA IGHIAN, 2015. "International Accounting Convergence in the Field of Fair Value Measurement," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 23-28.
    • Handle: RePEc:ddj:fseeai:y:2015:i:2:p:23-28
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    References listed on IDEAS

    as
    1. Diana COZMA IGHIAN, 2010. "Analysis of International Accounting Regulations with Regards to Fair Value," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 61-70.
    2. Carmen Giorgiana Bonaci & Adriana Tiron Tudor, 2011. "Fair Value Empirical Studies: An Overview On Acconting Research Literature," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(13), pages 1-1.
    Full references (including those not matched with items on IDEAS)

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