In this Working Paper we provide a review of The Transactional Assets Pricing Approach (V. Michaletz (2005a), V. Michaletz, A. Artemenkov & I. Artemenkov (2007), V. Michaletz & A. Artemenkov (2018)) and chart its practical areas of applicability within the continuum of existing Economic...

Using a sample of real estate investment firms adopting IFRS, we evaluate the value relevance of Level 3 fair values and whether it is impacted by the actual underlying assumptions. This context is unique in that there is generally only one material asset type (investment properties) and they...

I find that goodwill write-offs under Statement of Financial Accounting Standards No. 142 (SFAS 142) are associated with future expected cash flows as mandated by the standard. However, there are indications that goodwill write-offs lag behind the economic impairment of goodwill. Additional...

Whether fair value accounting should be used in financial reporting has been the subject of debate for many years. A key dimension to this debate is whether fair value earnings can provide information to financial statement users that is helpful in making their economic decisions. A criticism of...