FAIR VALUE ACCOUNTING: LOVE IT OR HATE IT

Fair value can be defined as the price that would be received to sell an asset or paid to transfer a liability. A fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market which maximises the amount that would be received or minimises the amount that would be paid.

CONTINUE READING

Read more...