Application of the fair-value concept : evidence from Australian legal decisions

Betts, Jennifer and Wines, Graeme 2004, Application of the fair-value concept : evidence from Australian legal decisions, Australian accounting review, vol. 14, no. 32, pp. 63-72, doi: 10.1111/j.1835-2561.2004.tb00284.x.

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Title Application of the fair-value concept : evidence from Australian legal decisions
Author(s) Betts, Jennifer
Wines, Graeme
Journal name Australian accounting review
Volume number 14
Issue number 32
Start page 63
End page 72
Publisher Blackwell Publishing
Place of publication Melbourne, Vic.
Publication date 2004-03
ISSN 1035-6908
Summary The concept of "fair value" is increasingly being incorporated into Australian and international accounting standards and pronouncements. The fair-value concept has also been established and developed in Australian legal cases, and an examination of pertinent court decisions is of interest to accountants. By examining and analysing relevant cases, the paper highlights some of the principles and difficulties involved in operationalising the fair-value concept for accounting and legal purposes, particularly in situations where the asset being valued is subject to imperfect or incomplete markets.
Notes Published Online: 31 Dec 2008
Language eng
DOI 10.1111/j.1835-2561.2004.tb00284.x
Field of Research 150103 Financial Accounting
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2004, CPA Australia
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Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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