“Fair value” a new method for valuing economic assets
DOI:
https://doi.org/10.35319/hfyjwk60Keywords:
International Financial Reporting Standards (IFRS), Modernization of financial information, Financial statements, Fair valueAbstract
Since 2005, with the adoption of the International Financial Reporting Standards (IFRS), there has been a conceptual modernization of financial information. Financial statements are primarily designed to meet the needs of investors, who are the main providers of risk capital for companies, but other users are also considered. IFRS introduced fair value as a valuation method for certain balance sheet items, meaning that gains or losses are recorded based on changes in that value. Valuation criteria can be studied over time: historical cost is used for the past, replacement cost, net realizable value, and fair value for the present, and net present value for the future.
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References
Normas Internacionales de Contabilidad Nrs. 1, 2, 16 y 36
Normas Internacionales de Información Financiera
Páginas de Internet: Monografías.com, Valor Razonable
Guía Millar de ejemplos de aplicación de las Normas Internacionales
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