Fair value accounting: Simulacra and simulation

  title={Fair value accounting: Simulacra and simulation},
  author={P. Bougen and Joni J. Young},
  journal={Critical Perspectives on Accounting},
The paper examines the application of simulacra and simulation in fair value accounting for financial instruments in the U.S. As copies of copies, simulacra problematize the notion of an original and with it an imaginary of a single authentic reality. We examine simulacra as they have been applied in two interconnected fair value accounting arenas. Firstly, simulacra employed as a measurement basis for certain financial instruments. In this regard, we challenge the FASB's insistence that fair… Expand
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