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Does fair value accounting Mean that all assets and liabilities (including Plant and Debentures) are to be valued at their Market value?If not what is fair value accounting?
Is fair value accounting Compulsory in all countries?I’m not sure that I recognise as an official expression ‘fair value accounting’
Are you referring to ‘fair value measurement’ as identified by IFRS 13
If this is in fact the subject of your question, may I suggest that you follow this link to the IASPLUS summary of IFRS 13 – it’s a 10 minute read and it should clear up all of your confusion on the matter
https://www.iasplus.com/en/standards/ifrs/ifrs13
Finally, if the country in the World to which you allude follows International Accounting Standards then, yes, it is compulsory
OK?
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