Fair Value Accounting in the Finance Sector: A Fiji Perspective

In this paper we look at the applicability of fair value accounting in the finance sector of Fiji. We consider the perspectives of both the preparers and the users of fair value information from the finance sector. In looking at these perspectives, we took a sample of four banks and credit institutions and two investment companies. A questionnaire based survey was used to collect data from the preparers and users of fair value accounting information in the finance sector. Results indicate that the users perceive fair value accounting information as useful for their decision making purposes. Furthermore, fair value information is costly to be incorporated into financial reports, however, preparers do find fair value to be applicable and of relevance to them.