RELEVANCE OF FAIR VALUE IN BIOLOGICAL ASSETS: AN EXPERIMENTAL ANALYSIS ON MARKET PERCEPTION VERSUS THE ACADEMIC PERCEPTION

Criticisms have been made from both the academic and business environments about importance usage of fair value (FV), especially for assets related to agricultural products without an active trading market. For analyzing what is relevance FV method biological users, experiment was with 217 market professionals attending Executive MBA course 155 undergraduate students in accounting, perspective Counterfactual Thinking Theory. The following stimuli were considered if: (i) result (losses or gains) arising evaluation at FV, (ii) type asset (with liquidity), (iii) managerial decision (held maturity date make it available sale) interfere judgment assets. findings indicate that use relevant measurement opposition historical cost. Type (eucalyptus as market) (make led different perceptions academicians more FV. professionals, results also (eucalyptus) affected their appropriate metric asset. Our can be concluded perception greater evaluate (bovines forests) than reliability process outcomes.