Critical analysis of the definitions of the category “valuation” in accounting and non-accounting sources

Abstract

Valuation is undoubtedly the basis of accounting and reporting of any organization. At the same time, as our research have shown, to date, the accounting regulations do not provide a definition of the valuation, and in the scientific and educational literature there is no consensus of scientists on this issue. This article critically analyzes various points of view regarding the interpretation of the category “valuation”, presented in Russian and foreign accounting and non-accounting sources of recent decades. The following research methods were used: analysis and synthesis,comparison, grouping method, logical approach, systematic approach, analogy method. As a result of the research, this paper presents the author’s view of the existing definitions of the category “valuation” in relation to their applicability in modern accounting and reporting. The results reflected in this article will be of interest to a wide range of readers who analyze various problems of Russian and foreign accounting and reporting, including the valuation of accounting objects and reporting elements. In addition, the results obtained in this work can be applied in the educational process of higher educational institutions and in the practical work of accounting departments. In addition, the results of this study can be used in the development and improvement of relevant domestic and foreign regulatory documents on accounting and reporting.