Palgrave Macmillan Studies in Banking and Financial Institutions

Fair Value Accounting

Key Issues Arising from the Financial Crisis

Authors: Menicucci, E.

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About this book

The 2008 financial crisis has turned a spotlight on the role of financial reporting in periods of economic downturn. In analysing the financial crisis, many commentators have attributed blame to fair value accounting (FVA) because of the pro-cyclical effect it potentially introduces in banks' financial statements. This book discusses how FVA affects financial reporting during a financial crisis. It provides an in-depth analysis of the key benefits and negatives of FVA, and discusses the controversial practice of trade-offs with historical cost accounting (HCA). It provides an overview of the principles and applications of FVA, and explains its impact on banks' financial statements. Investigating the effect of FVA on the volatility of earnings and regulatory capital in European banks, the book asks whether incremental volatility is indeed reflected in bank share prices. It examines empirical evidence to quantify the role that FVA may have played in times of stress in the banking sector, both in Europe and elsewhere. Fair Value Accounting explores the criticism FVA has received despite its perceived merits, and summarizes the various opposing views of parties in this major policy debate, which has involved banking and accounting regulators from across the globe.

About the authors

Elisa Menicucci obtained degrees in economics and business administration, and economics and management, from the University of Ancona and the Polytechnic University of Marche respectively, in Ancona, Italy. She went on to complete a PhD in business administration from the Polytechnic University of Marche in 2009. Elisa Menicucci works as temporary professor in business administration at the Polytechnic University of Marche, and as teaching expert in business valuation at Uninettuno University in Rome, Italy. She has participated in the International Commission of OIC (Organismo Italiano di Contabilità) and has worked as a chartered accountant and tax auditor since 2008.

Table of contents (4 chapters)

  • Financial Crisis and Fair Value Accounting (FVA)

    Menicucci, Elisa

    Pages 1-16

  • Fair Value Accounting (FVA): An Overview of Key Issues

    Menicucci, Elisa

    Pages 17-54

  • The Role of Fair Value Accounting (FVA) in the Financial Crisis

    Menicucci, Elisa

    Pages 55-79

  • Fair Value Accounting (FVA) in the Banking Sector

    Menicucci, Elisa

    Pages 80-108

Buy this book

eBook $54.99
price for USA (gross)
  • ISBN 978-1-137-44826-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $70.00
price for USA
  • ISBN 978-1-137-44825-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $67.50
price for USA
  • ISBN 978-1-349-49638-9
  • Free shipping for individuals worldwide
  • This title is currently reprinting. You can pre-order your copy now.

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Bibliographic Information

Bibliographic Information
Book Title
Fair Value Accounting
Book Subtitle
Key Issues Arising from the Financial Crisis
Authors
Series Title
Palgrave Macmillan Studies in Banking and Financial Institutions
Copyright
2015
Publisher
Palgrave Macmillan UK
Copyright Holder
Palgrave Macmillan, a division of Macmillan Publishers Limited
eBook ISBN
978-1-137-44826-2
DOI
10.1057/9781137448262
Hardcover ISBN
978-1-137-44825-5
Softcover ISBN
978-1-349-49638-9
Edition Number
1
Number of Pages
VIII, 121
Topics