Marco Conceptual y Valor Razonable
En esta sección se presentan diversos estudios relacionados con los múltiples temas que se desprenden del “Marco Conceptual para la Elaboración y Presentación de Información Financiera”, además del documento denominado “Medición del Valor Razonable”, ambos emitidos por el International Accounting Standards Board (IASB). La presentación de los estudios se estructura en dos categorías. La primera comprende trabajos realizados por Observatorio IFRS, mientras que la segunda categoría se centra en proporcionar bibliografía de interés.
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Normas Internacionales de Contabilidad e Información Financiera e Interpretaciones que regulan esta área de información: |
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Marco Conceptual para la Información Financiera. |
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IFRS 13: Medición del Valor Razonable |
Referencias bibliográficas de interés:
CÓDIGO: BMCVR - 001
Booth, B. (2003). The Conceptual Framework as a Coherent System for the Development of Accounting Standards. Abacus, Volumen 39, No. 3, pp. 310-324.
Abstract
The Financial Accounting Standards Board (FASB) visualized a conceptual accounting framework as a ‘coherent system of interrelated objectives and fundamentals that can lead to consistent standards that prescribes the nature, function, and limits of financial accounting and financial statements’ (FASB, 1976). To Australian standard setters, the primary purpose of the conceptual framework (CF) was only to be used as a ‘guide’ in developing and reviewing accounting standards (AASB, 1995, para. 5). The International Accounting Standards Committee (IASC) diminished the role of a conceptual framework even further by openly acknowledging that some standards are inconsistent with the guidelines offered by the framework (IASC, 1989 para. 12). Even though the Australian Accounting Standards Board (AASB) supposedly pursues a policy of harmonization of conceptual frameworks and accounting standards, there are also acknowledged inconsistencies in the conceptual frameworks of the IASC. The aim of this article is to assess the coherence of the Australian (and IASC) conceptual framework. This analysis identifies confusion in drafting or construction of the conceptual framework, internal inconsistencies, and inconsistency with the legal framework within which business entities operate. Accordingly it is suggested that the adoption of a conceptual framework will not lead to consistent accounting standards, and inevitably the conceptual framework will lack credibility so long as it is inconsistent with legislation.
Disponible en:
http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6281.2003.00135.x/abstract
CÓDIGO: BMCVR - 002
Bradbury, M. (2003). Implications for the Conceptual Framework Arising From Accounting for Financial Instruments. Abacus. Volumen 39, Issue 3, pp. 388–397.
Abstract
This article describes some of the issues faced by standard setters in developing guidance on accounting for financial instruments and the implications these issues have for the conceptual framework (CF). The objective is to outline issues, not necessarily to resolve them, and to consider the implications they have for further developing the conceptual framework.
Given the current trend of harmonization and convergence of accounting practice towards international standards, it seems reasonable to assume that any policy implications will be most relevant to the CF inherited by the International Accounting Standards Board (IASB).‡ Unless otherwise stated, references will be made to International Accounting Standards (IAS).
Disponible en:
http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6281.2003.00140.x/abstract
CÓDIGO: BMCVR - 003
Cairns, D., Massoudi, D., Taplin, R., y Tarca, A. (2011). IFRS fair value measurement and accounting policy choice in the United Kingdom and Australia. The British Accounting Review. Volume 43, Issue 1, March 2011, Pages 1-21
Abstract
This study investigates the use of fair value measurement by 228 listed companies in the UK and Australia around the time of adoption of IFRS from 1 January 2005. We test whether within and between country comparability in policy choices (as measured by T indices) has changed in relation to (a) mandatory and (b) optional use of fair value measurement. Mandatory requirements related to financial instruments (IAS 39) and share-based payments (IFRS 2) have increased comparability, with a weaker effect for biological assets (IAS 41). In relation to the optional use of fair value, comparability increased in relation to property (IAS 16) because some companies discontinued fair value measurement. Under IAS 39, the fair value option for other financial assets and other financial liabilities decreased comparability. Options to use fair value in other areas (intangible assets, plant and equipment and investment properties) are not generally taken up, either for on-going measurement or on IFRS adoption (under the ‘deemed cost’ option). The results suggest a conservative approach and/or lack of incentives to use fair value measurement for most companies. Exceptions include some banks and insurance companies (for other financial assets and liabilities) and companies holding investment properties.
Disponible en:
http://www.sciencedirect.com/science/article/pii/S0890838910001125
CÓDIGO: BMCVR - 004
Cairns, D. (2006). The Use of Fair Value in IFRS. European Accounting Review. Volume 15, Supplement 3, pp. 5-22.
Abstract
The implementation of International Financial Reporting Standards (IFRS), particularly in the European Union, has led to frequent comments that IFRS are “fair value based standards” and that the IASB is moving inexorably towards full fair value accounting. This article examines the extent to which IFRS do, in fact, require the use of fair values for the measurement of assets and liabilities. It explains the definition of fair value in IFRS, the evolution of that definition and the need for further clarifications and guidance with respect to the application of the definition. It then identifies the four main uses of fair value in IFRS. Three of these uses reflect what should have happened under many national standards. The fourth use is, in practice, restricted to very few assets and liabilities. The article concluded with suggestions about the possible areas in which the IASB might extend the use of fair values.
Disponible en:
http://www.tandfonline.com/doi/abs/10.1080/09638180600920053
CÓDIGO: BMCVR - 005
Eccles, T. (2005). Financial statements and corporate accounts: the conceptual framework. Property Management, Volumen 23 No. 5, pp. 374-387
Abstract
Purpose – The unique characteristics of property are being recognised by those who create accounting standards. The purpose of this paper it to discuss the process by which standards are created and the opportunities for the involvement of property professionals, owners and users within the standard-setting regime. In particular the paper seeks to draw attention to the shift towards International Accounting Standards.
Design/methodology/approach – The paper is an explanation and discussion of the UK standard-setting regime.
Findings – The paper explains the UK standard-setting regime, introducing the shift towards International Accounting Standards.
Research limitations/implications – The work explains the ideologies and principles forming the theoretical foundations of the conceptual framework of UK accounting. Specific issues are not discussed, and are the subject of further work by the authors.
Practical implications – It is imperative for the surveying profession and wider property owners to be involved with the creation of accounting standards in order to ensure that property issues are reflected within them. This paper establishes the basic framework to assist them to do this.
Originality/value – Property professionals have traditionally tended to have been overlooked or ignored the consultation processes to establish new accounting standards. The paper establishes a platform to encourage them to become more involved.
Disponible en:
http://www.emeraldinsight.com/journals.htm?articleid=1529575&show=abstract
CÓDIGO: BMCVR - 006
Sayce, S. y Connellan, O. (2004). From existing use to value in use: time for a paradigm shift?. Property Management, Volumen 20 No. 4, pp. 228-251.
Abstract
This paper debates the key concepts of fair value, value in use and existing use, as they relate to the valuation of owner-occupied property assets. Changes to the professional body regulatory and advisory frameworks (International Valuation Standards Committee (IVSC), the European Group of Valuers’ Association (TEGoVA) and the Royal Institution of Chartered Surveyors (RICS)) controlling the valuation of fixed assets for balance-sheet have taken place. These, it argues, require valuers to re-appraise the role of existing use value (EUV) as an acceptable valuation concept. The treatment of owner-occupied property differs with the IVSC no longer recognising EUV, which it holds to be contrary to the principles of fair value, as enshrined within International Accounting Standards. Yet, the basis is still recognised by TEGoVA, which also espouses fair value, whereas the RICS prefer the value to the business model. The crux therefore lies in the interpretation of fair value. This paper argues for the abandonment of EUV in UK and European standards, to fall in line with International Standards. It is contended that, if market value or value in use is the only acceptable approach to accounting valuations, this will have implications for corporate entities and may give their advisers some practical problems. If EUV is abandoned, it also calls into question the appropriateness of DRC (depreciated replacement cost) as a valid surrogate of market value or EUV. The paper contends that fair value embraces both value in exchange and value in use. It argues that EUV fulfils little useful purpose and calls for its abandonment and for the development of an agreed methodology for establishing value in use. In the quest for this it suggests that there would be merit in re-exploring the notion of going concern value, which was effectively written out of UK practice with the introduction of RICS guidance.
Disponible en:
http://www.emeraldinsight.com/journals.htm?articleid=845538
CÓDIGO: BMCVR - 007
Silva, B. (2011). Valor Razonable: Un Modelo de Valoración Incorporado en las Normas Internacionales de Información Financiera. Estudios Gerenciales, Volumen 27, Nº 118, pp. 97-114.
Abstract
El concepto de Valor Razonable, traducción del inglés de la expresión Fair Value, que aparece desde hace varias décadas en la literatura contable anglosajona, ha cobrado relevancia cuando el International Accounting Standards Board (IASB) lo incorporó como un modelo de valoración en las Normas Internacionales de Información Financiera. Sin embargo, el significado, la oportunidad en que se usa, cómo se determina, el efecto que genera en el patrimonio de la empresa, además de otros aspectos significativos, se encuentran dispersos a través de las distintas normas. El agente decisor requiere tener una concepción clara sobre el tema. Este artículo presente una compilación y reflexiones sobre estos aspectos, sin agotarlos.
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