Developing a Model for Current Values Reporting in Iran

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Ghoohestani Samaneh; MAHDAVI GHOLAMHOSSEIN

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Journal: The Financial Accounting and Auditing Researches Year:2021 | Volume:12 | Issue:48 Page(s): 149-178

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Information Journal Paper

Title

Developing a Model for Current Values Reporting in Iran

Author(s)

Ghoohestani Samaneh | MAHDAVI GHOLAMHOSSEIN | Issue Writer Certificate

Keywords

Current ValueQ1

Fair ValueQ1

Historical Cost AccountingQ1

Inflation AccountingQ2

Capital MaintenanceQ1

Abstract

The presentation of fair accounting information requires the provision of information that is consistent with the economic realities and reflects the effects of changing in the effective factors. The changing in the level of prices and inflation is one of the most important factors which affects on the fairness of accounting information and causes many problems for Historical Cost Accounting model (as the current accounting paradigm); In this research, the development of a model for reporting Current Values in accordance with the economic conditions of Iran (as an alternative to the Historical Cost Accounting model) has been studied. The research method was survey and the researchdata was collected in 2019. The measurement toolof this research was a researcher-made questionnaire. Based on the results of this study, for accounting reporting in Iran, the Current Values model is more appropriate than the historical cost, and for measuring Current Values in Iran, the exit valuation is in the best approach. The necessity of reporting the Current Value of balance sheet items was another issue under investigation which, based on its results, machinery and equipment items, financial instruments, land, buildings and intangible assets, respectively, have the highest score. According to results, the profit and loss of the Capital Maintenance should be identified and presented in the statement of comprehensive profit and loss. Also, research findings related to the presentation of Current Value information indicate that presentation as a supplementary to historical cost information (in a separate financial statement) is the best method.

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APA: Copy

Ghoohestani, Samaneh, & MAHDAVI, GHOLAMHOSSEIN. (2021). Developing a Model for Current Values Reporting in Iran. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 12(48 ), 149-178. SID. https://sid.ir/paper/373023/en

Vancouver: Copy

Ghoohestani Samaneh, MAHDAVI GHOLAMHOSSEIN. Developing a Model for Current Values Reporting in Iran. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2021;12(48 ):149-178. Available from: https://sid.ir/paper/373023/en

IEEE: Copy

Samaneh Ghoohestani, and GHOLAMHOSSEIN MAHDAVI, “Developing a Model for Current Values Reporting in Iran,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 12, no. 48 , pp. 149–178, 2021, [Online]. Available: https://sid.ir/paper/373023/en

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