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Fair Value Accounting for All Financial Instruments: Perceptions from Managers of Australian Financial Institutions
Author(s) -
TAN CHYIWOAN,
HANCOCK PHIL,
TAPLIN ROSS,
TOWER GREG
Publication year - 2005
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.2005.tb00295.x
Subject(s) - accounting , fair value , financial statement , value (mathematics) , business , criticism , financial instrument , perception , finance , financial accounting , joint (building) , income statement , accounting information system , political science , psychology , balance sheet , audit , architectural engineering , machine learning , neuroscience , computer science , law , engineering
The Joint Working Group (JWG) proposal for the measurement of all financial instruments at fair value and the recognition of changes in fair value in the income statement met with criticism from the Joint Working Group of Banking Associations QWGBA). This research study investigates the extent to which chief financial officers in Australian financial institutions agree with the JWGBA. Findings indicated respondents tended to agree, albeit to a lesser extent, with the JWGBA. Conversely, they also agree with the JWG, as they believe fair‐value information is not commercially sensitive and could be reliably determined.