Some aspects of accounting for fair value

Article Abstract:

The Institute of Chartered Accountants in England and Wales Accounting Standards Committee's discussion paper, Fair Value in the COntext of Acquisition Accounting, is discussed. No attempt is made in presenting a paper on fair value in acquisition accounting to advocate or try to impose cost accounting. The purpose of the fair value exercise is to establish today's value, since that is expense to those engaging in acquisitions. The amount of profit or loss stemming from any segment of a business should be evaluated for the period between acquisition and disposal.

Analysis, Cost accounting, Current value accounting

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Accounting for special purpose transactions: exposure draft no 42

Article Abstract:

The full text of the Accounting Standards Committee's exposure draft 42 is presented. The draft proposes standard accounting practices for special purpose transactions involving off-balance sheet finance, and takes a general rather than specific approach to the problem. Comments on the draft and suggestions for draft modification are requested.

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An accounting treatment taken for granted

Article Abstract:

SSAP 4, The Accounting Treatment of Government Grants, is compared to ED 43, The Accounting Treatment of Government Grants. ED 43 was recently issued by the Accounting Standards Committee as a revision of SSAP 4.

Institute of Chartered Accountants of Scotland

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