Fair Value Accounting : Implications for Users of Financial Statements.
Title:
Fair Value Accounting : Implications for Users of Financial Statements.
Author:
Bachert, Kristian.
ISBN:
9783653012507
Personal Author:
Physical Description:
1 online resource (321 pages)
Contents:
Preface -- Foreword -- Contents -- Contents -- Index -- Index of figures -- Index of tables -- Index of formulas -- Index of abbreviations -- Index of symbols -- 1 Introduction -- 1.1 Groundwork -- 1.2 Scientific research strategy and conceptualization -- 2 Conceptual grounding -- 2.1 Fair value accounting -- 2.2 Users of financial statements -- 3 Related empirical literature -- 3.1 Relevance of fair value accounting -- 3.2 Reliability of fair value accounting -- 3.3 Predictability of accounting numbers -- 3.4 Summary and research gap -- 4 Theory and hypotheses development -- 4.1 Theoretical foundation -- 4.2 Hypotheses development -- 5 Analysis of financial analysts' forecasts -- 5.1 Methodological approach -- 5.2 Results -- 5.3 Discussion -- 6 Analysis of investors' judgments and investment decisions -- 6.1 Methodological approach -- 6.2 Results -- 6.3 Discussion -- 7 Conclusion -- 7.1 Summary and main findings -- 7.2 Implications and contribution -- 7.3 Limitations and perspectives -- Appendix -- Appendix A: Empirical analysis of financial analysts' forecasts -- Appendix B: Empirical analysis of investors' judgments and investment decisions -- Appendix C: Experiment materials -- Bibliography.
Abstract:
Fair value accounting is viewed as a major feature of IFRS and several standards either require assets to be measured at fair value or at least provide an option to fair value measurement instead of applying historical cost. While it is argued that fair values provide more timely and relevant information, the global financial crisis led to a considerable debate about the usefulness of fair value accounting. The study examines the implications of fair value accounting for financial analysts and nonprofessional investors. It provides evidence that, even if financial analysts find it challenging to produce accurate forecasts under a fair value regime, nonprofessional investors make larger investments and are more confident with their judgments for fair value firms.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Subject Term:
Genre:
Electronic Access:
Click to View