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Abstract

The recent financial crisis has brought in many arguments for and against the fair value accounting method. These arguments mainly focus on the future of implementation of this method and challenge financial accounting standards boards to the scope of fair value accounting. By this paper, the author would like to sum up the content of fair value accounting and compare it with the historical cost accounting. By analyzing strengths and weaknesses of methods in response to the economic climate, the author relates to the application of the fair value accounting by financial accounting standards boards and enterprises in Vietnam.

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