The use of fair value in financial accounting is increasing, replacing historical costs. This change is driven by International Accounting Standards, which require assets to be valued at their current market value. This shift allows companies to report their true net income more accurately. As a result, accountants now share a common language with investors, making financial information more transparent and understandable. The collaboration between the International Valuation Standards Committee and the International Accounting Standards Committee has led to a more consistent approach to valuing assets, promoting harmony in the valuation process.