Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/4234
The thesis is devoted to fair value accounting. Fair value accounting implies that
assets and liabilities get measured and reported in firm´s financial statements at their
The purpose of the thesis is to analyze the conceptual foundations of fair value
The thesis is organized in the following way. First, origins and development of
fair value accounting are discussed. Second, overview of fair value accounting is
presented. The overview includes definition of fair value, measurement and disclosure
of fair value and its impact on financial statements. Thirdly, opposite viewpoints on
fair value accounting are presented, including comparison of fair value accounting and
historical cost accounting and brief overview of other measurement bases. Finally, the
last part deals with the current financial crisis and role of fair value accounting in it.
Recent developments under US GAAP and IFRS are presented.
The thesis is based on various textbooks and articles in periodicals. Some
information was found on the internet, on the official website of IFRS, US GAAP, and
on other websites.