Wartość godziwa jako kategoria wyceny
Fair value as a measurement category

Summary/Abstract: Polish and international accounting regulations provide for two models of assets valuation. The first one is the historical cost model, and the second is the fair value model. Fair value is an accountant’s estimate of market value which is usually, but not necessarily, equivalent to market price. Fair value determination is based on market price, but it is not restricted to a blind acceptance of market price as a measure of market value. In an inactive or inefficient market, other indirect measures of value, such as value-in-use, replacement value or net present value, may be resorted to. The fair value concept is connected with the fair presentation/true and fair view concept. Since this is based on financial statements using historical cost, the fair in fair presentation is not fair value so much as values which are reasonable under the circumstances.

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