Measurement in Financial Statement: Retrospection and Prospects in the Chaotic Environment
Journal of Finance and Accounting
Volume 2, Issue 6-1, December 2014, Pages: 13-20
Received: Oct. 1, 2014;
Accepted: Oct. 9, 2014;
Published: Oct. 24, 2014
Views 3121 Downloads 206
Svitlana Kuznetsova, Department of International Finance and Banking, Alfred Nobel University, Dnipropetrovs’k, Ukraine
Inna Tyvanyuk, Department of International Finance and Banking, Alfred Nobel University, Dnipropetrovs’k, Ukraine
Transformation of approaches to using different measurements in closing financial statements has been analyzed in this article. Evolution of the term “fair value” has also been systematized; fair value measurement development has been investigated in the international environment. Normative regulation to using measurements on fair value in Ukraine has been presented. Algorithm for choosing the form of accounting using fair value in the context of chaotic environment has been proposed.
Measurement in Financial Statement: Retrospection and Prospects in the Chaotic Environment, Journal of Finance and Accounting. Special Issue: Synergy of Accounting, Finance and Management in Chaotic Environment.
Vol. 2, No. 6-1,
2014, pp. 13-20.
С. Bonaci, J. Strouhal and V. Razvan “Fair Value Approach: Recent Developments and Professionals’ Perceptions,” WSEAS TRANSACTIONS on BUSINESS and ECONOMICS, vol. 10, pp. 180-189, July 2013.
IFRS USA, Is IFRS coming to America?, 2012, retrieved from: http://ifrsusa.wordpress.com/
S. Kuznetsova and A. Kuznetsov “The Information Perspective of Management Accounting in Ukraine: The Synergistic Approach and Arrow’s Impossibility Theorem,” in World Journal of Social Sciences Vol. 4. No. 1. March 2014 Issue. pp. 140 – 153.
Bodie Z. Finance. The tutorial.. / Z. Bodie, Р. Merton; [trans. From English.]. – М.: Publishing research house "Williams», 2000. – 592 p.
Burton John C. Handbook of accounting and auditing./ John C. Burton, Russell E. Palmer, Robert S. Kay. – Boston. New York: Warren, Gorham& Lamont, 1981. – 1800 p.
V. Palii. Century Problematic issues of asset valuation and the circumstances in IAS / V. Palii // Formation of a market economy in Ukraine. Scientific collection: special edition 7. Financial analytical tools reforming the economic system of Ukraine. - Lviv: Nsereko, 2001. – pp. 99-104.
Scmidt F. Die organische Bilanz im Rahmen der Wirtschaft./ F. Scmidt. – Leipzig, 1921.
L. D. Revutsky. Fundamental value, Foundation-supplemented flax cost and fair value of the enterprise: concepts, indicators and methods of their determination. – М.: // Evaluation questions, № 3, 2012. pp 35 - 44.
International standards financial integration: [Electronic resource]. – Mode of access: http://www.ifrs.org/Pages/default.aspx
New IFRS consolidation and fair value measurement [The staff of authors Ernst & Young]. Moscow: Alpina Publisher 2014. – 406 p.
US GAAP : [Electronic resource]. – Mode of access: http://www.fasb.org/st/
O. Georgiou, L. Jack. In pursuit of legitimacy: A history behind fair value accounting, The British Accounting Review, Vol. 43, 2011, pp. 311-323
The Law of Ukraine "On accounting and financial reporting in Ukraine”:[Electronic resource]. – Mode of access: // http://www.rada.gov.ua/
Regulations (standards) of accounting: [Electronic resource]. – Mode of access: // http://www.rada.gov.ua/.