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Fair value accounting (FVA) refers to the practice of updating the valuation of assets or securities on a regular basis, ideally by reference to current prices for similar assets or securities established in the context of a liquid market; historical cost accounting (HCA) instead records the value of an asset as the price at which it was originally purchased. In the wake of the 2008 financial crisis, conflicting arguments have been made about the contributions of valuation approaches in triggering the crisis. This report investigates and clarifies the relationship between these two accounting approaches and risks to the financial system. The authors examine the risk implications of FVA and HCA in the various situations in which each is used; assess the role that these accounting approaches have played historically in financial crises, including the 2008 financial crisis, the savings and loan crisis of the 1980s, and the less developed country debt crisis of the 1970s; and explore insights about systemic risk that can be gleaned from better understanding the accounting approaches. The authors find that FVA was probably not a primary driver of the 2008 crisis. Moreover, they suggest that neither FVA nor HCA is objectively ⁰[MARC+62][MARC+65][MARC+74][MARC+74][MARC+65][MARC+72]⁰₊ than the other. Instead, both accounting approaches can provide useful information for different contexts when applied rigorously, but when they are implemented poorly or when regulatory oversight is weak, both FVA and HCA can produce misleading information that can increase systemic risk across the financial sector. The authors conclude with a series of recommendations for how FVA and HCA, and the financial information that both methods generate, can be improved to better protect against systemic risk to the banking sector in the future.

Fair value --- Accounting.

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Written for managers and professionals in business and industry, this book helps the reader in: * Understanding what is and is not IFRS * Learning the complexities of IFRS implementation* Appreciating the contribution of IFRS to corporate governance The changeover from the mosaic of different heterogeneous national accounting standards to the International Financial Reporting Standards has not been easy. For many companies IFRS, and most particularly the concept of fair value in IAS 39, has amounted to a phase shift - which is prerequisite to achieving compliant financial

Accountancy --- IFRS (International Financial Reporting Standards) --- Accounting - Standards. --- Accounting. --- Corporate governance. --- Fair value - Accounting. --- Financial statements - Standards. --- Accounting --- Financial statements --- Fair value --- Corporate governance --- Commerce --- Business & Economics --- Standards --- Standards. --- Governance, Corporate --- Accounting and review services statements --- Accounting standards --- GAAP (Accounting) --- Generally accepted accounting principles --- Industrial management --- Directors of corporations

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The purpose of this book is to offer a more systematic and structured treatment of the research on accounting‐based valuation, with a primary focus on recent theoretical developments and the resulting empirical analyses that recognize the role of accounting information in making managerial decisions. Since its inception, valuation research in accounting has evolved primarily along an “empirically driven” path. In the absence of models constructed specifically to explain this topic, researchers have relied on economic intuition and theories from other disciplines (mainly finance and economics) as a basis for designing empirical analyses and interpreting findings. Although this literature has shed important light on the usefulness of accounting information in capital markets, it is obvious that the lack of a rigorous theoretical framework has hindered the establishment of a systematic and well‐structured literature and made it difficult to probe valuation issues in depth. More recently, however, progress has been made on the theoretical front. The two most prominent frameworks are (i) the “linear information dynamic approach” and (ii) the “real options‐based approach” which recognizes managerial uses of accounting information in the pursuit of value generation. This volume devotes its initial chapters to an evaluation of the models using the linear dynamic approach, and then provides a synthesis of the theoretical studies that adopt the real options approach and the empirical works which draw on them. The book also makes an attempt to revisit and critique existing empirical research (value-relevance and earnings-response studies) within the real options-based framework. It is hoped that the book can heighten interest in integrating theoretical and empirical research in this field, and play a role in helping this literature develop into a more structured and cohesive body of work. Value is of ultimate concern to economic decision-makers, and valuation theory should serve as a platform for studying other accounting topics. The book ends with a call for increased links of other areas of accounting research to valuation theory.

Corporations --- Fair value --- Equity --- Valuation. --- Accounting. --- Stocks --- Chancery --- Valuation --- Law and legislation --- Business. --- Bookkeeping. --- Finance. --- Business and Management. --- Accounting/Auditing. --- Finance, general. --- Actions and defenses --- Trusts and trustees --- Finance --- Funding --- Funds --- Economics --- Currency question --- Accountancy --- Business enterprises --- Commerce --- Commercial accounting --- Financial accounting --- Business --- Bookkeeping --- Accounting --- Bookkeeping . --- Double entry bookkeeping --- Business education

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For any market to work properly, certain key elements are necessary: competition, pricing, rules, clearly defined offers, and easy access to information. Without these components, there would be chaos. Orderly Fashion examines how order is maintained in the different interconnected consumer, producer, and credit markets of the global fashion industry. From retailers in Sweden and the United Kingdom to producers in India and Turkey, Patrik Aspers focuses on branded garment retailers--chains such as Gap, H&M, Old Navy, Topshop, and Zara. Aspers investigates these retailers' interactions and competition in the consumer market for fashion garments, traces connections between producer and consumer markets, and demonstrates why market order is best understood through an analysis of its different forms of social construction. Emphasizing consumption rather than production, Aspers considers the larger retailers' roles as buyers in the production market of garments, and as potential objects of investment in financial markets. He shows how markets overlap and intertwine and he defines two types of markets--status markets and standard markets. In status markets, market order is related to the identities of the participating actors more than the quality of the goods, whereas in standard markets the opposite holds true. Looking at how identities, products, and values create the ordered economic markets of the global fashion business, Orderly Fashion has wide implications for all modern markets, regardless of industry.

Industrial sociology. --- Fashion merchandising --- Clothing trade --- Sociology --- Industrial organization --- Industries --- Fashion marketing --- Merchandising --- Retail trade --- Apparel industry --- Clothiers --- Clothing industry --- Fashion industry --- Garment industry --- Rag trade --- Textile industry --- Tailors --- Social aspects. --- Social aspects --- Economic sociology --- Industrial economics --- Advertising Costs. --- Advertising agency. --- Advertising campaign. --- Advertising. --- And Interest. --- Anti-fashion. --- Behalf. --- Benchmarking. --- Brand extension. --- Brand loyalty. --- Calculation. --- Capitalism. --- Clothing industry. --- Clothing. --- Commodity. --- Comparative advantage. --- Competition (economics). --- Competition. --- Competitive advantage. --- Consulting firm. --- Consumer Goods. --- Consumer choice. --- Consumer network. --- Consumer. --- Counterfeit consumer goods. --- Creative work. --- Currency. --- Customer base. --- Customer. --- Designer. --- Developed country. --- Double auction. --- Economic cost. --- Economic sociology. --- Economics. --- Entrepreneurship. --- Ethical trade. --- Exchange of information. --- Fair value. --- Fashion editor. --- Fashion line. --- Fast fashion. --- Financial capital. --- Free trade. --- Fundamental analysis. --- Globalization. --- Glocalization. --- Grand theory. --- Haute couture. --- Identity management. --- In-House. --- Internationalization. --- Investor relations. --- Knowledge society. --- Lean manufacturing. --- Letter of credit. --- Liberalization. --- Marginal utility. --- Market (economics). --- Market segmentation. --- Marketing collateral. --- Marketing. --- Micromarketing. --- Neoclassical economics. --- No frills. --- Obsolescence. --- Organizational studies. --- Outlet store. --- Overproduction. --- Positioning (marketing). --- Price fixing. --- Price mechanism. --- Pricing. --- Product design. --- Product differentiation. --- Proposal (business). --- Protectionism. --- Purchasing power. --- Rational choice theory. --- Ready Made Garment. --- Reasonable person. --- Relationship marketing. --- Retail. --- Risk aversion. --- Scientific management. --- Search cost. --- Shopping. --- Social constructionism. --- Social structure. --- Speculation. --- Standardization. --- Stock exchange. --- Stock market. --- Supply chain. --- Technical analysis. --- Trade association. --- Utility. --- Utilization. --- Vendor. --- World Trade Organization.