Title: Fair Value Measurements and the Relevance and Reliability of Accounting Information
Abstract: Relevance and Reliability are the two primary qualities that make accounting information useful for decision making.They are not only relevant to the users of financial reporting and their decisions but also to the choice for measurement attributes.Generally,fair value accounting information is more relevant and less reliable than historical cost accounting information.Therefore,good practice of fair value accounting requires that some unambiguous criterion be established to facilitate the balance between relevance and reliability,or that the qualitative characteristics of accounting information useful for decision-making be reconsidered and reconstructed.
Publication Year: 2007
Publication Date: 2007-01-01
Language: en
Type: article
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