[Accounting Economics and Law A Convivium] The Pure Logic of Accounting A Critique of the Fair Value Revolution会计、经济学与Law

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1、Accounting,Economics,andLawAConviviumVolume1,Issue12011Article7ThePureLogicofAccounting:ACritiqueoftheFairValueRevolutionYuriBiondi,CNRS,FranceRecommendedCitation:Biondi,Yuri(2011)"ThePureLogicofAccounting:ACritiqueoftheFairValueRevolution,"Accounting,Economics,andLaw:Vol.1:Iss.1,Article7.DOI:10.220

2、2/2152-2820.1018©2011Convivium.Allrightsreserved.UnauthenticatedDownloadDate

3、8/15/188:53AMThePureLogicofAccounting:ACritiqueoftheFairValueRevolutionYuriBiondiAbstractWheninternationalaccountingstandardswererenamedtobecomeinternationalfinancialreportingstandards,thisseemedtoimplythataccountingnolonge

4、rneededtoexist,butratherhadtobereconsideredasapartoffinancialcommunicationandadvertising.Doestraditionalaccountabilitynolongermatter?Betrayedinvestorsandglobalizedstakeholderswoulddissent.Adifferenceofnaturecontinuestoexistbetweenfairvaluesdisclosedbymanagersandcertifiedbyauditors,andtheactualperfor

5、mancegeneratedbytheenterpriseentitythroughtime,space,andinteraction.Inaworldshapedbycomplexorganizationsfacingunfoldingchanges,hazardandlimitedknowledge,thequestforfundamentalprinciplesofaccountingisnotacademic.Accountingprinciplesconstituteaprimarywaythatthecreationandallocationofbusinessincomesisg

6、overned;thatis,fairlymanagedandregulatedinthepublicinterest,havingrespectto“otherpeopleinterests.”Thisarticleadoptsadualisticposturethatopposestheaccountingconceptualframeworksbasedonfairvalue(marketbasis)andhistoricalcostandrevenue(processbasis).Thefundamentalpremisesabouttheunderlyingeconomicsofth

7、eenterpriseentityarediscussed,includingtherepresentationofthebusinessandtheconceptsofassetandliability.Referencesaremadetothecaseofaccountingforintangibles,andtothedistinctionbetweenequitiesandliabilities.Thecostandrevenueaccountingperspectiveisthendefendedintermsofaccountability,butalsofromtheinfor

8、mationalviewpoint:historicalaccountinginformationplaysaspecialroleasalighthouseinthedynamicandstrategicsettingoftheShareExchange.Inparticular,tworefinementsofthehistoricalcost(andrevenue)accountingmod