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:: year 14, Issue 56 (2022) ::
fa 2022, 14(56): 79-101 Back to browse issues page
Using level three fair value in financial reporting of Iran: Challenges and Solutions
Ali Rahmani * 1, Samira Maanavi Poudeh2
1- Department of Accounting, Faculty of Social and Economic Sciences, AlZahra University, Tehran, Iran.
2- Department of Accounting, Faculty of Social and Economic Sciences, AlZahra University, Tehran, Iran
Abstract:   (2767 Views)
Due to the requirement regulatory bodies to implement international financial reporting standards and the widespread use of fair value in the mentioned standards, it is necessary first of all to provide a suitable platform and infrastructure for this implementation that Implementation of International Financial Reporting Standard NO.13, which discusses the measurement of fair value, is one of these infrastructures. The fair value is measured in three levels in the above standard that the level three measurements is more challenging than the other two ones. Therefore, the present study examines the challenges and strategies for implementing the level three fair values in Iranian financial reporting. The statistical population of the study includes experts (raters) of the judiciary, managers and experts of Investment Bank, Asset Management and investment consultant, faculty members of universities, preparers of financial statements, investors, financial analysts, auditors and employees of capital market regulators and for data collection, some questionnaires was used which was purposefully distributed among the sample members. To test the data obtained from the questionnaire independent T-test and Friedman test were employed. The study findings show that from the respondents’ point of view, the most important challenges to implement the International Financial Reporting Standard NO.13 include the difficulty of distinguishing the unit of account for level three compared to level one and two, Existence of estimates at the level three fair values, describing the quantitative information about the input data with invisible importance used for fair value measurement”. Also, the best strategies to improve the use of level three the fair values are providing accountants and auditors with technical training.
 
Article number: 5
Keywords: Fair value, International Financial Reporting Standard NO.13, Accounting Standard No.42 of Iran, level three Of Fair value, Financial Reporting
Full-Text [PDF 663 kb]   (157 Downloads)    
Type of Study: Applicable | Subject: Special
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Rahmani A, Maanavi Poudeh S. Using level three fair value in financial reporting of Iran: Challenges and Solutions. fa 2022; 14 (56) : 5
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year 14, Issue 56 (2022) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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