Primena računovodstva fer vrednosti u Srbiji - empirijsko istraživanje

Abstract

The results of the research presented in this paper suggest a high tendency of the companies in the Republic of Serbia to apply fair value accounting. In large companies, as much as over a half of the total assets were measured at fair value. As expected, the item of financial statements most subject to fair value measurement turned out to be that of property, plant and equipment. Although fair value application is not mandatory for this item or for investment property, a large portion of property, plant and equipment in companies was measured at fair value, as well as all of the investment property. The income approach was most frequently used in the fair value measurement, performed by valuation agencies in the majority of cases. Accountants quite firmly believe that fair value provides the most valuable and relevant information to investors, while the complexity and high costs of fair value accounting seem to be of little concern to them. Nearly three quarters of accountants view fair value as a tool for earnings management, whereas two thirds of them perceive fair value as a tool for manipulation and frauds in financial reporting. Almost a half of companies do not provide ongoing training in proper application of fair value accounting, while about two thirds of them do not perform periodic reviews of the selected models and fair value application procedures.