By Henk Langendijk, Dirk Swagerman, Willem Verhoog

The failure of present mechanisms to both expect the cave in of assorted businesses or cut down corrupt practises has stored the topic of exterior reporting to the fore. Is reasonable price reasonable? monetary Reporting in a global point of view comprises contributions from many highly-respected members desirous about exterior reporting, legislation and traditional atmosphere. Their contributions talk about the way forward for * rules * software of criteria * supervision * audit present traits are mentioned, as are ways that the present regulatory surroundings should be improved.With the hot IFRS rules getting into strength in 2005, monetary reporting is decided toface radical alterations. Is reasonable price reasonable? totally prepares readers for those adjustments and is a useful device for company financiers and institutional traders with an curiosity within the regulatory surroundings.

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Is Fair Value Fair: Financial Reporting from an International Perspective

The failure of present mechanisms to both are expecting the cave in of varied businesses or decrease corrupt practises has stored the topic of exterior reporting to the fore. Is reasonable worth reasonable? monetary Reporting in a world point of view comprises contributions from many highly-respected members excited about exterior reporting, rules and conventional surroundings.

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Every other number has some uncertainty around it. Even cash has some uncertainty because it may be in banks that fail, or may not be repatriatable, or may be in fluctuating currencies, or items deposited may not be paid. More and more uncertainty crops up as we go down the balance sheet to receivables, inventory and plant and equipment. With intangible assets, we have even more uncertainty. Basically everything on the balance sheet has some uncertainty. What we have said in the past as accountants is that there is a certain level of uncertainty about an item beyond which we will not put it in the balance sheet.

On this date, a final financial reporting standard must be ready. It is debatable, however, whether the planning is realistic. Not only is it open to question whether the necessary amendments in the field of legislation and regulations will then be ready, but at the same time it is doubtful whether the necessary fundamental changes in accounting systems can be implemented in the short term. Proper Is fair value fair? 23 thought must also be given to all the steps that will have to be taken. At the moment, the figures presented by companies are ‘completely incomparable’.

Is fair value fair? 17 De Vries is also sceptical about mark-to-market. How can the value of intangible assets be established on the basis of fair value? Fair value is computed in a rather arbitrary manner. For example, the goodwill that was paid to acquire E-Plus, Germany’s third largest wireless carrier, was capitalised in full in 2000, while it was clear on the balance sheet date that a major part of this value had already evaporated. At year-end 2001, the UMTS licences were stated at cost because they were not yet being used.

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