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dc.contributor.authorTsamis, Anastasios-
dc.contributor.authorLiapis, Konstantinos J.-
dc.date.accessioned2018-06-05T06:53:17Z-
dc.date.available2018-06-05T06:53:17Z-
dc.date.issued2014-
dc.identifier.citationTsamis, A., & Liapis, K. (2014). Property assets fair value accounting under uncertainty. European Research Studies Journal, 17(4), 35-54.en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar//handle/123456789/30732-
dc.description.abstractAccounting fairness refers mostly to the fair presentation, and therefore, measurement or valuation of an element recognized in the entity’s financial statements. In accounting and finance, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset. Applying different accounting and valuation methods across firms or countries makes financial statements incomparable to each other. The research objects of the paper are: a literature view of IFRS2 and US GAAP3 principles and accounting standards for fixed assets; a critical perspective of the used accounting frameworks, providing comparison for each framework and each portfolio; the incorporation of uncertainty into the WLC4 methodology for the valuation and management of real property assets. The methodology of WLC with the NPV5 technique of a property asset, are used. These methods are incorporated into a decision-making mathematical model using the PERT probability distribution function for the input variables. The model is applied to a typical property asset (an office building as a part of a company’s fixed assets portfolio) in order to explore the significance of impacts from changes in structured variables by using the Monte Carlo Simulation. After the above procedure a unique fair value accounting model is founded on the dynamic integration of WLC fundamental concepts and the widely used appraisal measures for property assets with quantitative risk analysis to address the endemic in the property assets uncertainty.en_GB
dc.language.isoenen_GB
dc.publisherUniversity of Piraeus. International Strategic Management Associationen_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectFair value -- Accountingen_GB
dc.subjectMonte Carlo methoden_GB
dc.subjectValuationen_GB
dc.subjectPERT (Network analysis)en_GB
dc.subjectReal property -- Financeen_GB
dc.subjectFinancial statements -- Standardsen_GB
dc.subjectAccounting -- Standardsen_GB
dc.titleProperty assets fair value accounting under uncertaintyen_GB
dc.typearticleen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.description.reviewedpeer-revieweden_GB
dc.publication.titleEuropean Research Studies Journalen_GB
Appears in Collections:European Research Studies Journal, Volume 17, Issue 4

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