The Economics of Fair Value Accounting: What did the U. S. Accounting Profession Know, and When did it Know it?

Grayson, Michael

doi:10.2139/ssrn.1269721

Abstract

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The Economics of Fair Value Accounting: What did the U. S. Accounting Profession Know, and When did it Know it?

Michael M. Grayson

Texas A&M University - Kingsville

September 17, 2008

Abstract:
This article reminds the reader that companies must produce their output efficiently, or else they will become high-cost producers and get competed out of existence. This article quotes published research to show that adoption of models other than historical cost (including fair value accounting) moves companies away from efficient production of their output.

Number of Pages in PDF File: 17

Keywords: Fair value accounting, Efficient production, What the accounting profession knew

JEL Classification: D21, D61, E23, J44, M41, M44

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Date posted: September 18, 2008

Suggested Citation

Grayson, Michael M., The Economics of Fair Value Accounting: What did the U. S. Accounting Profession Know, and When did it Know it? (September 17, 2008). Available at SSRN: http://ssrn.com/abstract=1269721 or http://dx.doi.org/10.2139/ssrn.1269721

Contact Information

Michael M. Grayson (Contact Author)

Texas A&M University - Kingsville ( email )

700 University Boulevard
Kingsville, TX 78363
United States