Özet:

One of the most important steps in the preparation of financial reports is the valuation of assets and liabilities. In this process, assets and liabilities can be valued with two different approaches which are historical cost and current value. The historical cost approach only reflects the financial values of the assets and liabilities as a fairly realistic at the transaction date. After the transaction date, technological, economical, financial and similar reasons may cause changes in the financial values of assets and liabilities. The historical cost approach is insufficient to reflect these changes to the financial statements. Therefore, according to the Financial Reporting Standards it is seen to adopt that the assets and liabilities is evaluated predominantly on the basis of fair value approach at financial statements which are prepared subsequent to the first registration date. With the adoption of the fair value approach in the valuation of assets and liabilities, it is expected thet the reliability, accuracy, transparency of information, which is provided by the users of financial information users benefiting from the financial statements, which is prepared by enterprises. Besides, the fair value approach has caused significant changes in the managerial basic duties of the executives, by forcing the managers to be more careful in their decisions by reducing the master-agent conflict between managers and business owners. In this context, it is aimed to reveal the effects of the fair value approach, which is one of the most important subjects of today's accounting field, on business management.

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