Fair Value Accounting: A Tool for Accurate Valuation of Assets
VerifiedAI Summary
This essay discusses the fair value accounting method and its influence on public and private institutions in Australia. It explores the advantages and disadvantages of this method and its impact on financial crises. The fair value accounting is considered to be pertinent for all the organisation whether they are private firms or the public institutions and hence for this purpose they are supposed to provide the fair dealing of the asset of the organisation. This is made mandatory by the AASB 113 so as to apply the fair value method for valuation of the asset of the organisation.