dor_id: 4119796

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650.#.4.x: Ciencias Sociales y Económicas

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351.#.#.b: Contaduría y Administración

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856.4.0.u: http://www.cya.unam.mx/index.php/cya/article/view/2178/1550

100.1.#.a: Oyewo, Babajide; Oyewo, Babajide

524.#.#.a: Oyewo, Babajide, et al. (2021). Diffusion of fair value measurement (IFRS 13): Perception of Auditors. Contaduría y Administración; Vol. 66, Núm. 2, 2021. Recuperado de https://repositorio.unam.mx/contenidos/4119796

245.1.0.a: Diffusion of fair value measurement (IFRS 13): Perception of Auditors

502.#.#.c: Universidad Nacional Autónoma de México

561.1.#.a: Facultad de Contaduría y Administración, UNAM

264.#.0.c: 2021

264.#.1.c: 2020-05-09

653.#.#.a: Accounting; fair value measurement; income determination; fair value accounting, historical cost, income determination, ifrs 13, valuation methods; accounting; fair value measurement; income determination; fair value accounting, historical cost, income determination, ifrs 13, valuation methods

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520.3.#.a: This study investigates the diffusion of fair value measurement (IFRS 13), with a focus on extent of application, and valuation methods used by reporting entities in Nigeria. Data-collection was through a structured questionnaire administered on 400 auditors from diverse backgrounds in terms of audit firm size, international affiliation, and global presence. Analysis of data obtained from 277 respondents, using descriptive statistics and one-way ANOVA, reveals that the overall extent of application of fair value measurement is moderate. However, there is significant difference in application level among reporting entities in the valuation of financial assets, financial liabilities, investment property, and goodwill & intangibles acquired in business combination, but no significant difference in the valuation of pension liabilities, endowment funds, share-based payments, property, plants & equipment, and land & building. It appears the level of investment in an asset/liability determines the application rate of fair value measurement—while high level of investment in an asset/ liability prompts extensive application, low level of investment correspondingly results into negligible usage. Further, the overall application rate of the valuation methods is in the descending order of: market, expert estimation, cost and income approaches respectively. The market and cost approaches are applied more extensively in the valuation of tangible assets; the market approach is preferred in the valuation of financial instruments, while expert estimation is more applicable in the valuation of intangible assets and liabilities. Given that the market approach is the predominant valuation method, the study calls on relevant authorities and concerned stakeholders to emplace institutional apparatus that will facilitate the ready availability of fair value prices for accounting items. This study investigates the diffusion of fair value measurement (IFRS 13), with a focus on extent of application, and valuation methods used by reporting entities in Nigeria. Data-collection was through a structured questionnaire administered on 400 auditors from diverse backgrounds in terms of audit firm size, international affiliation, and global presence. Analysis of data obtained from 277 respondents, using descriptive statistics and one-way ANOVA, reveals that the overall extent of application of fair value measurement is moderate. However, there is significant difference in application level among reporting entities in the valuation of financial assets, financial liabilities, investment property, and goodwill & intangibles acquired in business combination, but no significant difference in the valuation of pension liabilities, endowment funds, share-based payments, property, plants & equipment, and land & building. It appears the level of investment in an asset/liability determines the application rate of fair value measurement—while high level of investment in an asset/ liability prompts extensive application, low level of investment correspondingly results into negligible usage. Further, the overall application rate of the valuation methods is in the descending order of: market, expert estimation, cost and income approaches respectively. The market and cost approaches are applied more extensively in the valuation of tangible assets; the market approach is preferred in the valuation of financial instruments, while expert estimation is more applicable in the valuation of intangible assets and liabilities. Given that the market approach is the predominant valuation method, the study calls on relevant authorities and concerned stakeholders to emplace institutional apparatus that will facilitate the ready availability of fair value prices for accounting items.

773.1.#.t: Contaduría y Administración; Vol. 66, Núm. 2 (2021)

773.1.#.o: http://www.cya.unam.mx/index.php/cya/index

046.#.#.j: 2021-10-20 00:00:00.000000

020.#.#.a: info:eu-repo/semantics/article||||||||||||

022.#.#.a: ISSN electrónico: 2448-8410; ISSN impreso: 0186-1042

310.#.#.a: Trimestral

264.#.1.b: Facultad de Contaduría y Administración, UNAM

758.#.#.1: http://www.cya.unam.mx/index.php/cya/index

doi: https://doi.org/10.22201/fca.24488410e.2021.2178

245.1.0.b: Diffusion of fair value measurement (ifrs 13): perception of auditors

last_modified: 2021-11-09 13:10:00

license_url: https://creativecommons.org/licenses/by/4.0/legalcode.es

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Artículo

Diffusion of fair value measurement (IFRS 13): Perception of Auditors

Oyewo, Babajide; Oyewo, Babajide

Facultad de Contaduría y Administración, UNAM, publicado en Contaduría y Administración, y cosechado de Revistas UNAM

Licencia de uso

Procedencia del contenido

Entidad o dependencia
Facultad de Contaduría y Administración, UNAM
Revista
Repositorio
Contacto
Revistas UNAM. Dirección General de Publicaciones y Fomento Editorial, UNAM en revistas@unam.mx

Cita

Oyewo, Babajide, et al. (2021). Diffusion of fair value measurement (IFRS 13): Perception of Auditors. Contaduría y Administración; Vol. 66, Núm. 2, 2021. Recuperado de https://repositorio.unam.mx/contenidos/4119796

Descripción del recurso

Autor(es)
Oyewo, Babajide; Oyewo, Babajide
Tipo
Artículo de Investigación
Área del conocimiento
Ciencias Sociales y Económicas
Título
Diffusion of fair value measurement (IFRS 13): Perception of Auditors
Fecha
2020-05-09
Resumen
This study investigates the diffusion of fair value measurement (IFRS 13), with a focus on extent of application, and valuation methods used by reporting entities in Nigeria. Data-collection was through a structured questionnaire administered on 400 auditors from diverse backgrounds in terms of audit firm size, international affiliation, and global presence. Analysis of data obtained from 277 respondents, using descriptive statistics and one-way ANOVA, reveals that the overall extent of application of fair value measurement is moderate. However, there is significant difference in application level among reporting entities in the valuation of financial assets, financial liabilities, investment property, and goodwill & intangibles acquired in business combination, but no significant difference in the valuation of pension liabilities, endowment funds, share-based payments, property, plants & equipment, and land & building. It appears the level of investment in an asset/liability determines the application rate of fair value measurement—while high level of investment in an asset/ liability prompts extensive application, low level of investment correspondingly results into negligible usage. Further, the overall application rate of the valuation methods is in the descending order of: market, expert estimation, cost and income approaches respectively. The market and cost approaches are applied more extensively in the valuation of tangible assets; the market approach is preferred in the valuation of financial instruments, while expert estimation is more applicable in the valuation of intangible assets and liabilities. Given that the market approach is the predominant valuation method, the study calls on relevant authorities and concerned stakeholders to emplace institutional apparatus that will facilitate the ready availability of fair value prices for accounting items. This study investigates the diffusion of fair value measurement (IFRS 13), with a focus on extent of application, and valuation methods used by reporting entities in Nigeria. Data-collection was through a structured questionnaire administered on 400 auditors from diverse backgrounds in terms of audit firm size, international affiliation, and global presence. Analysis of data obtained from 277 respondents, using descriptive statistics and one-way ANOVA, reveals that the overall extent of application of fair value measurement is moderate. However, there is significant difference in application level among reporting entities in the valuation of financial assets, financial liabilities, investment property, and goodwill & intangibles acquired in business combination, but no significant difference in the valuation of pension liabilities, endowment funds, share-based payments, property, plants & equipment, and land & building. It appears the level of investment in an asset/liability determines the application rate of fair value measurement—while high level of investment in an asset/ liability prompts extensive application, low level of investment correspondingly results into negligible usage. Further, the overall application rate of the valuation methods is in the descending order of: market, expert estimation, cost and income approaches respectively. The market and cost approaches are applied more extensively in the valuation of tangible assets; the market approach is preferred in the valuation of financial instruments, while expert estimation is more applicable in the valuation of intangible assets and liabilities. Given that the market approach is the predominant valuation method, the study calls on relevant authorities and concerned stakeholders to emplace institutional apparatus that will facilitate the ready availability of fair value prices for accounting items.
Tema
Accounting; fair value measurement; income determination; fair value accounting, historical cost, income determination, ifrs 13, valuation methods; accounting; fair value measurement; income determination; fair value accounting, historical cost, income determination, ifrs 13, valuation methods
Idioma
eng
ISSN
ISSN electrónico: 2448-8410; ISSN impreso: 0186-1042

Enlaces