ACCOUNTING BASED ON THE HISTORICAL COST VERSUS ACCOUNTING BASED ON THE FAIR VALUE
Abstract
The accounting theory and practice has developed a wide range of possible approaches regarding measurement in accounting. Fair value versus historical cost issue has been and continues to be one of the most challenging problems in literature. Switching from an accounting based on historical costs to one based on fair value was classified as a conceptual revolution in accounting. In our article we shall present a comparative analysis of these two types of accounting in view of shaping the future accounting system.
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LUCRĂRI ȘTIINȚIFICE MANAGEMENT AGRICOL
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