Fair value

In accounting and economics, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset. It takes into account such objective factors as:

and subjective factors such as

In accounting, fair value is used as a certainty of the market value of an asset (or liability) for which a market price cannot be determined (usually because there is no established market for the asset). Under US GAAP (FAS 157), fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This is used for assets whose carrying value is based on mark-to-market valuations; for assets carried at historical cost, the fair value of the asset is not used. One example of where fair value is an issue is a college kitchen with a cost of $2 million which was built five years ago. If the owners wanted to put a fair value measurement on the kitchen it would be a subjective estimate because there is no active market for such items or items similar to this one. In another example, if ABC Corporation purchased a two-acre tract of land in 1980 for $1 million, then a historical-cost financial statement would still record the land at $1 million on ABC’s balance sheet. If XYZ purchased a similar two-acre tract of land in 2005 for $2 million, then XYZ would report an asset of $2 million on its balance sheet. Even if the two pieces of land were virtually identical, ABC would report an asset with one-half the value of XYZ’s land; historical cost is unable to identify that the two items are similar. This problem is compounded when numerous assets and liabilities are reported at historical cost, leading to a balance sheet that may be greatly undervalued. If, however, ABC and XYZ reported financial information using fair-value accounting, then both would report an asset of $2 million. The fair-value balance sheet provides information for investors who are interested in the current value of assets and liabilities, not the historical cost.

单词	Fair value
释义	Fair value 英语例句库 Historical cost, current market value, current cost, netrealizable value and present value of future cash flow are concretive expressive forms of fair value. 历史成本、现行市价、现行成本、可变现净值和未来现金流量的现值等,都是公允价值的具体表现形式。原声例句经济学人-财经 One measure of the " fair value" of a currency is the exchange rate that would eliminate these gaps. 衡量一种货币“公允价值”的一个指标是用于消除物价水平差距的汇率。经济学人（汇总） In San Francisco, too, they are at fair value when compared with rents, but 45% overvalued relative to incomes. 旧金山的房价租金比也是如此，但是房价收入比高估了45%。经济学人 Finance and economics Adjusted for inflation, it is about 10% below its fair value, according to the Institute of International Finance. 根据国际金融协会的数据，根据通货膨胀进行调整后，它比其公允价值低约 10%。 PBS访谈商业系列 The defendants deliberately and repeatedly lied about the fair value of billions of dollars in assets on J.P. 被告故意并反复谎报 J.P. 数十亿美元资产的公允价值。经济学人（汇总） Across America house prices, after falling by 25% from their peak between 2007 and 2012, are now at fair value compared with rents and incomes. 在2007年到2012年间，全美房价从最高点下落了25%，如今房价收入比和房价租金比已处于公允价值。川普首次新闻发布会合集 This so been interpreted to apply to fair value exchanges that have absolutely nothing to do with an office holder. 因此，这被解释为适用于与公职人员完全无关的公允价值交换。经济学人 Business Usually, these trusts trade close to their underlying asset values, which are based on " fair value" assessments provided by the private-equity funds. 通常，这些信托基金的交易价格接近其标的资产价值，而标的资产价值基于私募股权基金提供的“公允价值”评估。经济学人-综合 It is no use hoping that“rational” investors will drive prices back to fair value. Such sobersides get knocked over by the stampede, losing their shirts or their clients. 希望理性的投资者能够让价格回到合理的水平，是无望的.这些镇定自若的人会被那些惊慌逃窜的人撞倒，失去他们的衬衫或者是他们的客户. 怪盗与名侦探 As to the desk itself, he had purchased it for forty francs at an executor's sale at Chevreuse, and believed he had resold it at its fair value. 至于写字台本身，他是在 Chevreuse 的遗嘱执行人拍卖会上以四十法郎的价格买下的，并相信他以公允价值转售了它。 TED演讲（视频版） 2021年12月合集 It's an asset that's literally only created when a buyer shows up and pays a purchase price for a company that's more than the fair value of that company's net assets. 这是一种资产，实际上只有当买家出现并为一家公司支付的购买价格高于该公司净资产的公允价值时才会创建。英语百科 Fair value In accounting and economics, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset. It takes into account such objective factors as: and subjective factors such as In accounting, fair value is used as a certainty of the market value of an asset (or liability) for which a market price cannot be determined (usually because there is no established market for the asset). Under US GAAP (FAS 157), fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This is used for assets whose carrying value is based on mark-to-market valuations; for assets carried at historical cost, the fair value of the asset is not used. One example of where fair value is an issue is a college kitchen with a cost of $2 million which was built five years ago. If the owners wanted to put a fair value measurement on the kitchen it would be a subjective estimate because there is no active market for such items or items similar to this one. In another example, if ABC Corporation purchased a two-acre tract of land in 1980 for $1 million, then a historical-cost financial statement would still record the land at $1 million on ABC’s balance sheet. If XYZ purchased a similar two-acre tract of land in 2005 for $2 million, then XYZ would report an asset of $2 million on its balance sheet. Even if the two pieces of land were virtually identical, ABC would report an asset with one-half the value of XYZ’s land; historical cost is unable to identify that the two items are similar. This problem is compounded when numerous assets and liabilities are reported at historical cost, leading to a balance sheet that may be greatly undervalued. If, however, ABC and XYZ reported financial information using fair-value accounting, then both would report an asset of $2 million. The fair-value balance sheet provides information for investors who are interested in the current value of assets and liabilities, not the historical cost.
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