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The economics of fair value accounting: what did the US accounting profession know, and when did it know it?

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  • Michael M. Grayson

Abstract

This article reminds the reader that companies must produce their output efficiently or else they will become high-cost producers and get competed out of existence. This article quotes published research to show that adoption of models other than historical cost (including fair value accounting) moves companies away from efficient production of their output.

Suggested Citation

  • Michael M. Grayson, 2009. "The economics of fair value accounting: what did the US accounting profession know, and when did it know it?," International Journal of Critical Accounting, Inderscience Enterprises Ltd, vol. 1(4), pages 381-389.
    • Handle: RePEc:ids:ijcrac:v:1:y:2009:i:4:p:381-389
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