Fearnley, S. and Sunder, S., 2007. Bring Back Prudent. Accountancy, 140 (1370), pp. 76-77.
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The authors contends that the use of current valuations can present an inaccurate view of a firm's true financial status. When assets are illiquid, current value represents only a guess. When assets participate in an economic "bubble," current value is invariably unsustainable. Accounting standards, the authors conclude, should be flexible enough to fairly assess value in these circumstances.
|Subjects:||Social Sciences > Finance and Financial Economics|
|Group:||Business School > Centre for Finance and Risk|
|Deposited By:||INVALID USER|
|Deposited On:||09 Jan 2009 18:58|
|Last Modified:||07 Mar 2013 15:04|
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