We support the Board’s efforts to enhance the disclosures about financial instruments and to converge the disclosure requirements with Statement of Financial Accounting Standards No. 157, Fair Value Measurements (Statement 157), issued by the U.S. Financial Accounting Standards Board (FASB). We believe the proposal to converge with the fair value hierarchy disclosures in Statement 157 is approp...

Subject. This article discusses the issue of defining Fair Value concept, its similarity and identification with concept Market Value. It examines specifics each particular value, defines Value, analyzes approaches (methods) fair value valuation, clarifies existing problems determining for purposes IFRS application. Objectives. The aims to define notion appropriate use in accounting, as well ex...

We study the influence of a major reform in financial reporting regulation – the adoption of the International Financial Reporting Standards (IFRS) – on financial decisions around the world. We find that post-IFRS: (i) firms are more likely to raise external financing and (ii) firms increase their use of equity capital if they experience a decrease in information asymmetry, operate in a high gr...

The IFRS Interpretations Committee (the Committee) has finally issued its Interpretation on accounting for waste removal costs IFRIC Interpretation 20 – Stripping Costs in the Production Phase of a Surface Mine (the Interpretation). This Interpretation is effective for annual periods beginning on or after 1 January 2013. Entities will be required to apply its requirements for production phase s...