Business, Management and Accounting
8 years ago

Fair value accounting revolutionizes financial reporting with historical cost shift.

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The History and Evolution of Fair Value Accounting
Mark L. Zyla

Paper Summary

Fair value accounting is a way to measure assets and liabilities based on their current market value. It has changed how financial information is presented, moving away from historical costs. The concept has been evolving for over a century, and recent standards show it will continue to be used in the future.

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