The research aims at; showing the importance of accounting measurement which, is based on the fair value in maximizing the qualitative characteristics of the accounting information that result from the financial statements of the institutions according to the international accounting standards, and clarifying the significance of these statements as a tool to disclose the information which are required for its users. To achieve this; the accounting information should be characterized by suitability and reliability to help its users make a rational decision, so bodies that legislate accounting standards tend to use the fair value to measure the financial assets for correcting defects of using historical cost. To assess the hypotheses, a questionnaire has been distributed to a sample of accountants and auditors. The data has been analyzed by the use of SSPS program. Finally, the study comes up with conclusions among them are: measurement based on fair market value which is considered to be more expressive of the financial indicators that reflect reality. It is also recommended that there is a need for a serious work towards shifting from historical cost in recording non-current assets to the fair market value of these assets. Therefore, this should include necessary adjustments.
Volume 11 | 01-Special Issue
Pages: 1787-1798