Publication: El Camino Hacia el Valor Razonable
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Date
2002
Authors
García Benau, María Antonia ; Zorio Grima, Ana
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info:eu-repo/semantics/article
Description
Abstract
Ante la exigencia de que las empresas europeas cotizadas elaboren sus estados financieros consolidados de acuerdo con la normativa del IASE a partir de 2005, la Unión Europea ha modificado recientemente la IV y VII Directivas para introducir el valor razonable como criterio de medición de los instrumentos financieros. De este modo, se posibilita el cumplimiento de la lAS 39, sin quebrantar las disposiciones comunitarias. No obstante, ello supone un importante cambio en el modelo contable europeo, en el que hasta ahora regía el principio del precio de adquisición, sólidamente sustentado por el principio de prudencia. En este trabajo enmarcamos teóricamente este nuevo criterio de valoración y su introducción en nuestro ámbito más próximo, así como su posible extensión a otras áreas contables de acuerdo con las últimas tendencias internacionales. Asimismo, presentamos una revisión de la investigación empírica realizada en diferentes países, fundamentalmente del ámbito anglosajón, sobre los efectos de este método de valoración en las distintas partidas del balance que son susceptibles de su aplicación. En un futuro, muy probablemente se abrirán también líneas similares de investigación en nuestro país.
Since listed companies will be required to prepare their consolidated annual accounts in accordance with IASB standards, from 2005 at the latest, the European Comission has recently modified the IV and VII Accounting Directives, in order to introduce fair value accounting for financial instruments. This way, companies can comply with IAS 39 and observe at the same time the European dispositions. Nonetheless, this is an important change in the European Accounting model, which has been up to now based on the historic cost, according to the principle of prudence. In this paper, we analyse the theoretical framework for this valuation criterion and provide some insight for its introduction in our environment. Moreover, we look into its possible extension to other accounting areas, following the latest trends in the international arena. A thorough literature revision is presented with regard to the use of fair value accounting in different areas. In the near futures, similar avenues for research may be explored in the Spanish setting.
Since listed companies will be required to prepare their consolidated annual accounts in accordance with IASB standards, from 2005 at the latest, the European Comission has recently modified the IV and VII Accounting Directives, in order to introduce fair value accounting for financial instruments. This way, companies can comply with IAS 39 and observe at the same time the European dispositions. Nonetheless, this is an important change in the European Accounting model, which has been up to now based on the historic cost, according to the principle of prudence. In this paper, we analyse the theoretical framework for this valuation criterion and provide some insight for its introduction in our environment. Moreover, we look into its possible extension to other accounting areas, following the latest trends in the international arena. A thorough literature revision is presented with regard to the use of fair value accounting in different areas. In the near futures, similar avenues for research may be explored in the Spanish setting.
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