The Usefulness of Fair Value Estimates for Financial Decision Making - a Literature Review

• Autorzy: Alfreda Sapkauskiene , Sergej Orlovskij

Warianty tytułu

Użyteczność szacowania wartości godziwej dla podejmowania decyzji finansowej - analiza literatury

• Języki publikacji: EN

Abstrakty

Celem dyskusji naukowej jest znalezienie odpowiedzi na pytanie fundamentalne: "Czy szacowanie wartości godziwej jest użyteczne dla podejmowania decyzji finansowych?" Analiza wtórnych danych jakościowych z artykułów naukowych stanowiących o wiarygodności oraz poprawności doboru metod szacowania wartości godziwej pozwoliła nam ustalić, że wiarygodność tych szacunków może być zachwiana poprzez procesy zarządcze oraz czynnik ludzki. Zidentyfikowaliśmy trzy obszary problemowe, które są ze sobą ściśle powiązane: (1) jednostka biznesowa, (2) audyt, (3) regulacje finansowe i rachunkowość akademicka. Dla każdego obszaru wyznaczyliśmy wyzwania i sformułowaliśmy sugestie w celu poprawy wiarygodności szacunków wartości godziwej. Jednakże wiele z tych propozycji wymaga uwagi akademików z rachunkowości ustawodawców przepisów rachunkowości oraz standardów. Jasne jest, że można zauważyć trend poprawy jakości szacunków wartości godziwej (głównie na poziomie 3), jednakże 3. poziom może być użyty w procesie podejmowania bieżących decyzji finansowych, ale z pewną dozą sceptycyzmu. (abstrakt oryginalny)

EN

The objective of this discussion is to answer the fundamental question: 'Are Fair Value estimates currently useful for financial decision making?' Through a systematic review we analyse the qualitative secondary data from dedicated scientific articles, based on the relevance and reliability of Fair Value estimates, and find out that there are still ongoing problems with reliability of information mainly because of the managerial estimation process and the 'human factor' in general. We identify 3 problem areas that are closely interconnected: (1) the business entity, (2) auditing, and (3) financial regulators and accounting academics. Each area has its own set of challenges and several suggestions are given to improve the reliability and relevance of Fair Value estimates, but a lot of those propositions require dedicated attention from accounting academics, financial regulators, and standard-setters. All in all, there is a clear trend that the situation with Fair Value estimates (especially those of Level 3) has been improving recently, and Level 3 estimates can indeed be used in the current financial decision process, but with some level of scepticism. (original abstract)

Słowa kluczowe

PL

Wartość godziwa; Szacowanie wartości; Wiarygodność; Obszary problemowe

EN

Fair value; Value estimation; Credibility; Problem areas

• Czasopismo: Zeszyty Teoretyczne Rachunkowości
• Rocznik: 2017
• Tom: 93
• Numer: nr 149
• Strony: 163-173

Twórcy

autor

Alfreda Sapkauskiene

• Kaunas University of Technology

autor

Sergej Orlovskij

• Kaunas University of Technology

Bibliografia

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Identyfikatory

DOI

10.5604/01.3001.0010.3195