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The Importance and Necessity of Heritage Evaluation

Author

Listed:
  • Mircea-Iosif Rus

    (NIRD URBAN-INCERC Cluj-Napoca Branch)

Abstract

Valuation in accounting has gained considerable importance lately due to the fact that the value obtained as a result of this assessment can be the basis for positive results in the financial statements, which can lead to dividends or the sale of the company to potential investors. For this, the measurement obtained must be a present value or fair value, a market value of the company's assets. Although there are still some companies that value assets at a historical cost, many other companies prepare a fair value measurement, as the legislation allows for the existance of a mix of methods for valuing assets. We cannot say that the valuation at fair value is the best accounting method but it is increasingly accepted because, after the economic crisis of 2007-2008 as well as the Sars COV-2 pandemic, it reflects a value close to current reality.

Suggested Citation

  • Mircea-Iosif Rus, 2022. "The Importance and Necessity of Heritage Evaluation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1010-1014, Decembrie.
    • Handle: RePEc:ovi:oviste:v:xxii:y:2022:i:2:p:1010-1014
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    File URL: https://stec.univ-ovidius.ro/html/anale/RO/2022-issue2/Section%205/27.pdf
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    References listed on IDEAS

    as
    1. Rus Mircea-Iosif, 2013. ""The Knowledge Triangle" In A Knowledge-Based Society," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 942-947, July.
    2. Lucia Biondi & Fabio Giulio Grandis & Giorgia Mattei, 2021. "Heritage assets in financial reporting: a critical analysis of the IPSASB's consultation paper," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 33(5), pages 533-551, April.
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    Cited by:

    1. Mircea-Iosif Rus, 2023. "Fiscal Risk in the Activity of a Company," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 861-865, December.

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    More about this item

    Keywords

    valuation; assets; historical cost; current cost; fair value;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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