A study and proposal about the concept and use of fair value
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Contabilidade & Finanças (Online) |
Texto Completo: | https://www.revistas.usp.br/rcf/article/view/34220 |
Resumo: | This paper presents an analytic study about the concept of Fair Value, which has been much debated in recent years and promises to be, if its application becomes generalized in financial statements, a true revolution in techniques of valuation. This work briefly analyzes the most important aspects, determinations and concepts about Fair Value, presented by IASB, FASB and Brazilian rules. First, the analysis assumes a semantic character, so as to express the meaning of the words included in the concepts as clearly as possible. Next, a qualitative analysis tries to extract and assess the actual impact of concepts on the advancement of accounting practices. Initially, it should be emphasized that the Fair Value concept goes back quite a long time. In 1939, Kenneth MacNeal, in his pioneering work Truth in Accounting, defined the concept brilliantly; in fact, he talked about fair and true, always granting an economic meaning to valuations. The discussion about Fair Value has attracted increasing intention and gained sensationalistic dimensions since SFAS 133, issued by FASB in 1998. Then, we assess the efficacy and "fairness" of the concept or, better, concepts of Fair Value in comparison with Historical Cost, Replacement Cost and other concepts, which accountants have practiced for a long time. Finally, we suggest a trial period with information that complements and not simply replaces the traditional model. This allows Positive Accounting to play the role, through empirical research, of evaluating the cost-benefit relation of these alternatives before any precipitated decision is made. |
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A study and proposal about the concept and use of fair value Uma investigação e uma proposição sobre o conceito e o uso do valor justo ValorConceitos Alternativos de Avaliação e MensuraçãoValueAlternative Valuation and Measurement Concepts This paper presents an analytic study about the concept of Fair Value, which has been much debated in recent years and promises to be, if its application becomes generalized in financial statements, a true revolution in techniques of valuation. This work briefly analyzes the most important aspects, determinations and concepts about Fair Value, presented by IASB, FASB and Brazilian rules. First, the analysis assumes a semantic character, so as to express the meaning of the words included in the concepts as clearly as possible. Next, a qualitative analysis tries to extract and assess the actual impact of concepts on the advancement of accounting practices. Initially, it should be emphasized that the Fair Value concept goes back quite a long time. In 1939, Kenneth MacNeal, in his pioneering work Truth in Accounting, defined the concept brilliantly; in fact, he talked about fair and true, always granting an economic meaning to valuations. The discussion about Fair Value has attracted increasing intention and gained sensationalistic dimensions since SFAS 133, issued by FASB in 1998. Then, we assess the efficacy and "fairness" of the concept or, better, concepts of Fair Value in comparison with Historical Cost, Replacement Cost and other concepts, which accountants have practiced for a long time. Finally, we suggest a trial period with information that complements and not simply replaces the traditional model. This allows Positive Accounting to play the role, through empirical research, of evaluating the cost-benefit relation of these alternatives before any precipitated decision is made. Trata o presente artigo de uma investigação, no sentido de análise, do conceito do Fair Value (Valor Justo), tão debatido nos anos mais recentes e que promete ser, se generalizada sua aplicação nas demonstrações contábeis, uma verdadeira revolução valorativa. No decorrer do trabalho são analisadas, resumidamente, no que se refere aos aspectos mais importantes, as disposições e conceituações sobre Valor Justo apresentadas pelo IASB (International Accounting Standards Board), pelo FASB (Financial Accounting Standards Board) e pelas Normas Brasileiras. A análise efetuada tem um caráter inicialmente semântico, no sentido de expressar, da forma mais clara possível, o sentido das palavras contidas nas conceituações. Em seguida, é feita uma análise qualitativa, visando extrair e avaliar o efetivo impacto das conceituações no avanço das práticas contábeis. Inicialmente, é importante ressaltar que a conceituação de Valor Justo é bastante antiga. Em 1939, Kenneth MacNeal, em seu pioneiro trabalho, Truth in Accounting, já definia a expressão, de forma brilhante; na verdade, falava em fair and true, atribuindo às valorações, sempre, um significado econômico. A discussão sobre Valor Justo acentuou-se sobremaneira, ganhando até contornos sensacionalistas, a partir do SFAS 133, emitido pelo FASB em 1998. Através da análise e investigação assim procedidas, é avaliada, por comparação, a eficácia e "justeza" do conceito, ou melhor, conceitos, de Valor Justo em face dos critérios de Custo Histórico, Custo Corrente de Reposição e outros, já praticados há mais tempo pelos contadores. Sugere-se, ao final, um período de experimentação com informações complementares ao modelo tradicional, e não a pura e simples substituição deste último, permitindo então à Contabilidade Positiva o papel de, mediante suas pesquisas empíricas, avaliar a relação entre a utilidade e o custo dessas alternativas antes de qualquer precipitada decisão. Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária2007-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/rcf/article/view/3422010.1590/S1519-70772007000300002Revista Contabilidade & Finanças; v. 18 (2007): Número Especial; 09-18 Revista Contabilidade & Finanças; Vol. 18 (2007): Número Especial; 09-18 Revista Contabilidade & Finanças; Vol. 18 (2007): Número Especial; 09-18 1808-057X1519-7077reponame:Revista Contabilidade & Finanças (Online)instname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/rcf/article/view/34220/36952Copyright (c) 2018 Revista Contabilidade & Finançasinfo:eu-repo/semantics/openAccessIudícibus, Sérgio deMartins, Eliseu2012-07-21T18:19:14Zoai:revistas.usp.br:article/34220Revistahttp://www.revistas.usp.br/rcf/indexPUBhttps://old.scielo.br/oai/scielo-oai.phprecont@usp.br||recont@usp.br1808-057X1519-7077opendoar:2012-07-21T18:19:14Revista Contabilidade & Finanças (Online) - Universidade de São Paulo (USP)false |
dc.title.none.fl_str_mv |
A study and proposal about the concept and use of fair value Uma investigação e uma proposição sobre o conceito e o uso do valor justo |
title |
A study and proposal about the concept and use of fair value |
spellingShingle |
A study and proposal about the concept and use of fair value Iudícibus, Sérgio de Valor Conceitos Alternativos de Avaliação e Mensuração Value Alternative Valuation and Measurement Concepts |
title_short |
A study and proposal about the concept and use of fair value |
title_full |
A study and proposal about the concept and use of fair value |
title_fullStr |
A study and proposal about the concept and use of fair value |
title_full_unstemmed |
A study and proposal about the concept and use of fair value |
title_sort |
A study and proposal about the concept and use of fair value |
author |
Iudícibus, Sérgio de |
author_facet |
Iudícibus, Sérgio de Martins, Eliseu |
author_role |
author |
author2 |
Martins, Eliseu |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Iudícibus, Sérgio de Martins, Eliseu |
dc.subject.por.fl_str_mv |
Valor Conceitos Alternativos de Avaliação e Mensuração Value Alternative Valuation and Measurement Concepts |
topic |
Valor Conceitos Alternativos de Avaliação e Mensuração Value Alternative Valuation and Measurement Concepts |
description |
This paper presents an analytic study about the concept of Fair Value, which has been much debated in recent years and promises to be, if its application becomes generalized in financial statements, a true revolution in techniques of valuation. This work briefly analyzes the most important aspects, determinations and concepts about Fair Value, presented by IASB, FASB and Brazilian rules. First, the analysis assumes a semantic character, so as to express the meaning of the words included in the concepts as clearly as possible. Next, a qualitative analysis tries to extract and assess the actual impact of concepts on the advancement of accounting practices. Initially, it should be emphasized that the Fair Value concept goes back quite a long time. In 1939, Kenneth MacNeal, in his pioneering work Truth in Accounting, defined the concept brilliantly; in fact, he talked about fair and true, always granting an economic meaning to valuations. The discussion about Fair Value has attracted increasing intention and gained sensationalistic dimensions since SFAS 133, issued by FASB in 1998. Then, we assess the efficacy and "fairness" of the concept or, better, concepts of Fair Value in comparison with Historical Cost, Replacement Cost and other concepts, which accountants have practiced for a long time. Finally, we suggest a trial period with information that complements and not simply replaces the traditional model. This allows Positive Accounting to play the role, through empirical research, of evaluating the cost-benefit relation of these alternatives before any precipitated decision is made. |
publishDate |
2007 |
dc.date.none.fl_str_mv |
2007-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistas.usp.br/rcf/article/view/34220 10.1590/S1519-70772007000300002 |
url |
https://www.revistas.usp.br/rcf/article/view/34220 |
identifier_str_mv |
10.1590/S1519-70772007000300002 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://www.revistas.usp.br/rcf/article/view/34220/36952 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2018 Revista Contabilidade & Finanças info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2018 Revista Contabilidade & Finanças |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária |
publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária |
dc.source.none.fl_str_mv |
Revista Contabilidade & Finanças; v. 18 (2007): Número Especial; 09-18 Revista Contabilidade & Finanças; Vol. 18 (2007): Número Especial; 09-18 Revista Contabilidade & Finanças; Vol. 18 (2007): Número Especial; 09-18 1808-057X 1519-7077 reponame:Revista Contabilidade & Finanças (Online) instname:Universidade de São Paulo (USP) instacron:USP |
instname_str |
Universidade de São Paulo (USP) |
instacron_str |
USP |
institution |
USP |
reponame_str |
Revista Contabilidade & Finanças (Online) |
collection |
Revista Contabilidade & Finanças (Online) |
repository.name.fl_str_mv |
Revista Contabilidade & Finanças (Online) - Universidade de São Paulo (USP) |
repository.mail.fl_str_mv |
recont@usp.br||recont@usp.br |
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1787713775917334528 |