The article explores fair value accounting in Fiji, looking at how it is defined, measured, and understood by users and preparers of financial reports. The study found that both users and preparers have a similar understanding of fair value accounting. Measurement techniques include active markets, independent valuers, and cost referrals. Benefits include better disclosure and relevant information, while limitations include valuation costs and subjective judgment. Fair value accounting is predicted to become more prominent in Fiji in the long run.