Accounting Issues On Financial Instruments
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概要
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Financial Instruments should be measured at the present value by using the current effective yield as the discount rate by reference to the current market interest rate and the risk premium. The fair value or the current market price are surrogates of the present value. The present value determined by using the historical effective yield as the discount rate is allowed under limited circumstances. However, the historical cost is not allowed as a measurement basis of financial instruments. This is a conclusion from the point of view that considers financial instruments as "money" in a broader sense. The orientation to the present value measurement of financial instruments is not inconsistent with both the cost orientation and the value orientation in the measurement of real assets.
- 大阪府立大学の論文
- 1995-03-31