The secret past of fair value : lessons from history applied to the French case
Richard, Jacques (2004), The secret past of fair value : lessons from history applied to the French case, Accounting in Europe, 1, 1, p. 95-107
TypeArticle accepté pour publication ou publié
Journal nameAccounting in Europe
MetadataShow full item record
Abstract (EN)This article reviews the present state of the debate in France on the introduction of IFRS. It suggests that history shows that market value was the dominant approach to balance sheet valuation in the nineteenth century, and analyses the ultimate replacement of static theory, using market values, by dynamic theory, which is based on historical cost and the going concern and permits the systematic write-off of assets, and allows more regular payment of dividends. The article suggests that IFRS, based on a mixture of fair value and value in use, assumes a valuation of companies based on their future profitability, hence the description of the approach as forward-looking accounting.
Subjects / KeywordsAspects historiques; Juste valeur; France; Normes comptables internationales; Fair value
Showing items related by title and author.
The concept of fair value in French and German accounting regulations from 1673 to 1914 and its consequences for the interpretation of the stages of development of capitalist accounting Richard, Jacques (2005-08) Article accepté pour publication ou publié
The nosology of systemic sclerosis: how lessons from the past offer new challenges in reframing an idiopathic rheumatological disorder Lescoat, Alain; Cavalin, Catherine; Ehrlich, Rodney; Cazalets, Claire; Ballerie, Alice; Belhomme, Nicolas; Coiffier, Guillaume; de Saint Riquier, Marine; Rosental, Paul-André; Hachulla, Eric; Sobanski, Vincent; Jégo, Patrick (2019) Article accepté pour publication ou publié
Valuing financial assets out of markets: a case for disconnecting the valuation function from the exchange function of financial markets Charron, Jacques-Olivier (2013-07) Communication / Conférence
Towards an Understanding of the Phases of Goodwill Accounting in Four Western Capitalist Countries: From Stakeholder Model to Shareholder Model Stolowy, Hervé; Richard, Jacques; Ding, Yuan (2008-01) Article accepté pour publication ou publié