Analysis of International Accounting Regulations with Regards to Fair Value

Abstract

Unifying the economical-financial information at an international level represents today, within the context of the globalization and integration of the financial markets around the world, an important and urgent demand. One of the coordinates of accounting globalization is the fair value based valuation system. This tendency arises from the contents of international accounting standards and from the progress of world-wide regulating practice. The economic and market events of the past years have highlighted the importance of fair value measurements used in financial statements and have emphasized the need for consistency and comparability in those measurements infinancial statements prepared around the globe.

Keywords

• fair value
• harmonization
• IASB
• FASB
• Accounting Directive
• IFRS
• FAS
• Exposure Draft