Możliwości zastosowania wartości godziwej w praktyce
The use of fair value in accounting practice

Summary/Abstract: Fair value is a relatively new value measurement applied in accounting, more reliable than historical cost when measuring balance-sheet items, especially financial instruments. However, determining the fair value of these assets in unstable economic conditions proves to be an issue of particular significance. The article presents the fair value category in the context of changes occurring in accounting valuation. The changes result from shifting needs of accounting information users. In the practical section of the paper, the author concentrates on financial assets valuation on account of its significance in the context of the so called financial market crisis. The author indicates difficulties in its practical application, which arise from the very nature of this valuation method as well as rules contained in legal regulations.

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