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2016•Unpublished venueOpen access

VALUATION MODELS. FAIR VALUE – METHODS OF ASSESSMENT IN ACCOUNTING

Mihai Ristea, Corina Ioanăş, Mihaela Gruiescu, Tuţu Anca

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Abstract

In this paper the issue of valuation is analyzed as the main tool in shaping accounting and preparing financial statements. Starting from the "classical" models of assessment, based on historical cost, focus is made on accounting valuation, which is based on fair value. The diversity of accounting values demonstrates the need for rules and accounting policies on accounting valuation. The referential in this regard should be sought in the fair value. All other values are variations of the fair value, their difference being determined by time and space. The following question arises: do we evaluate at historical cost or fair value? This is the question we will try to find the answer to with this paper.

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In this paper the issue of valuation is analyzed as the main tool in shaping accounting and preparing financial statements. Starting from the "classical" models of assessment, based on historical cost, focus is made on accounting valuation, which is based on fair value. The diversity of accounting values demonstrates the need for rules and accounting policies on accounting valuation. The referential in this regard should be sought in the fair value. All other values are variations of the fair value, their difference being determined by time and space. The following question arises: do we evaluate at historical cost or fair value? This is the question we will try to find the answer to with this paper.

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Available abstract

In this paper the issue of valuation is analyzed as the main tool in shaping accounting and preparing financial statements. Starting from the "classical" models of assessment, based on historical cost, focus is made on accounting valuation, which is based on fair value. The diversity of accounting values demonstrates the need for rules and accounting policies on accounting valuation. The referential in this regard should be sought in the fair value. All other values are variations of the fair value, their difference being determined by time and space. The following question arises: do we evaluate at historical cost or fair value? This is the question we will try to find the answer to with this paper.

Key concepts: Valuation (finance), Fair value, Accounting, Cost accounting, Historical cost, Financial accounting, Accounting information system, Computer science

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