Examination of the role of Covid-19 in the decline of fair value accounting in international businesses
Aims: The research aimed to examine the role of Covid-19 on fair value accounting in international business.
Method/design: The study was conducted through primary quantitative research in which 200 participants responded to the Likert scale-based questionnaire.
Fair value is regarded as a broad measure of a capital's worth (Bradley and Sun, 2021). According to Palea (2021), the accounting field describes fair value as the assessed value of an organisation’s credit and liabilities within its financial statement. According to IFRS (2021), the International Accounting Standards Board has stated that fair value is the price gained for selling an asset or the price paid to make an organised transactional deal scheduled on a specific date for transfer of liability among market stakeholders. In 2020, the COVID-19 pandemic had affected the economic stability and financial markets internationally (Ozili, 2021).Download full article
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