Moving towards Fair Value Accounting In the past‚ historical cost measures were mainly used for reporting as they are reliable. However‚ historical cost is only relevant upon acquiring the asset and becomes irrelevant as time passes. On the other hand‚ fair value-based reporting‚ which accounts for changes in fair values‚ can produce balance sheet figures that provide a better reflection of the company’s value. This is also why accounting bodies are moving towards fair value accounting (FVA). One
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Accounting Association DOI: 10.2308/accr-10134 Judging the Relevance of Fair Value for Financial Instruments Lisa Koonce The University of Texas at Austin Karen K. Nelson Rice University Catherine M. Shakespeare University of Michigan ABSTRACT: We conduct three experiments to test if investors’ views about fair value are contingent on whether the financial instrument in question is an asset or liability‚ whether fair values produce gains or losses‚ and whether the item will or will not be sold/
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1 The Fairness of Fair Value: SFAS 157‚ Irving Fisher and GECON Paulo Roberto B. Lustosa Professor ‚ University of Brasilia Abstract Fair value measurement is increasingly spreading in accounting standards. In February/2010‚ it was present in 61 FASB pronouncements. Such diffusion led to the issuance of SFAS 157 Fair Value Measurements‚ in which many prior definitions and measurement requirements‚ presented in other pronouncements‚ were replaced by a single standard on this subject. But the expansion
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EXECUTIVE SUMMARY Wynn Resorts‚ Ltd. is one of the leading names in casinos and resorts. It is distinguished from its competitors because only Wynn Resorts offers high class service and it offers the most luxurious experience to its customers. The man behind the success of Wynn Resorts‚ Ltd. is Mr. Stephen Wynn‚ the CEO. Wynn Resorts‚ Ltd. owns and operates Wynn Las Vegas and Wynn Macau. Wynn is currently considering plans of expansions in Coati and even here in the Philippines. Wynn is relatively
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FAIR VALUE MEASUREMENT 1. The meaning of fair value Fair value is the price that would be received from the sell of an asset or will be paid to transfer a liability in an orderly transaction between the market participants and the measurement date [IFRS‚ 13 – A501]. However in accounting and economics‚ fair value is the rational and unbiased estimate of a possible market price of a good‚ service or an asset. Fair value takes into account many objectives and subjective factors such as: Objective
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Fair Value Accounting Select the archived issue you wish to view: Standards Fair Value Accounting Fair value accounting contains a superior basis for financial reporting than the outdated historical cost model. FROM: SEP-OCT 2005 ISSUE | BY HAN DONKER In recent years‚ international standard setters and regulators such as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have begun
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Pine Ridge Indian Reservation is a two million acre plot of land in South Dakota. It is the second- largest Native American reservation in the United States. Over 40‚000 people live there‚ and approximately 35% of those are children. The Ogala Lakota Sioux of Pine Ridge Indian Reservation are the poorest of the nation. The unemployment rate averages between 80% and 90%. Those that have jobs earn an average income between $2‚600 and $3‚500 annually. Families subsist on about $4‚000 a year. (“Stats”)
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Internal Analysis Functional Level Strategies/Mission Wynn Resorts‚ Limited mission statement is: “Wynn resorts strive to be the leading provider and choice of elite‚ Luxurious casino and resort experiences worldwide.” (Mathlouthi‚ “Wynn Resorts”) Wynn resorts utmost essential operational strength is the founder himself‚ Steve Wynn. Mr. Wynn has over thirty years of experience in Las Vegas. His prime connections‚ alliances and expertise within the industry that he holds‚ cannot be easily replaced
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Chong From The Comfy BaanPayai Resort LEAD PARAGRAPH BaanPayai Resort is in Pak Chong‚ a district of the Thai province of Nakhon Ratchasima. Also known as Khorat‚ Nakhon Ratchasima is in the Isan region of the country. It is Thailand’s largest province. Known for its abundance of natural treasures‚ interesting towns and cities‚ and places of historical interest‚ Pak Chong provides easy access to several of the province’s excellent attractions. And BaanPayai Resort is a comfortable base from which
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I. Background of the Case The case begins with Bob Guthrie‚ a retired physician and an avid skier‚ who realized that there was a need for a special ski helmet following the recent incidents that lead to serious head injuries for skiers. There were existing ski helmets in the market‚ but Bob believed that he had a chance to make helmets more appealing to the people‚ by adding new features. Bob took this idea as something that could not only be an outlet for his creativity‚ but as a way for him to
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