TY  - JOUR
T1  - Fair Value Accounting after Times of Financial Crisis
AU - Skoda, Miroslav AU - Gabrhel, Juraj 
JO  - International Business Management
VL  - 9
IS  - 5
SP  - 676
EP  - 684
PY  - 2015
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2015.676.684
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2015.676.684
KW  - Fair value
KW  -financial reporting
KW  -financial crisis
KW  -financial statements
KW  -accounting harmonisation
AB  - Fair value accounting is an essential feature of International Financial Reporting Standards. Even though, this accounting method did not spark the financial crisis, it did enhance its impact. As a consequence of  the  financial  crisis  the  IASB  amended  IAS  39  to  override  the  fair  value  recognition.  The  amendments to IAS 39 & IFRS 7 permitted reclassifications of the categories held for trading and available for sale, some of which had explicitly been forbidden prior to the amendment. Critics argue that these modifications to IAS 39 made, it possible to camouflage losses of hundreds of billions of euros. The main goal of this study is to evaluate the amendment to IAS 39 & IFRS 7 by conducting a survey of the banking sector. Furthermore, fair value accounting in general is critically discussed.
ER  -