A Review of Accounting Theories on Asset Valuation

UDEH, Sergius Nwannebuike (2013) A Review of Accounting Theories on Asset Valuation. GOU JOURNAL OF MANAGEMENT AND SOCIAL SCIENCES, 1 (1). pp. 1-8.

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This paper which adopted a descriptive methodology looks at the importance of theories in the development of professions generally. However, it specifically examines the historical attempts of the accounting profession at developing generally accepted accounting theory. The attempts made towards realization of the above objective were captured in the inductive, normative and the corporate report approaches with their major pitfalls. In spite of these attempts, accountants still differ in their opinions about some theories especially asset valuation models. Some accounting theories implicated in the disagreement were highlighted. The paper, in conclusion, stresses the need for accountants to adopt a common stand on theories of asset valuation and income determination so as to ensure public reliance on accounting information both for investment decision and other purposes. The paper recommends the need to restructure existing models or even develop new ones to harmonize accounting thoughts on asset valuation and other related concepts.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: miss lydia lydia
Date Deposited: 04 Oct 2019 14:40
Last Modified: 04 Oct 2019 14:40
URI: http://eprints.gouni.edu.ng/id/eprint/2275

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