Fair value accounting: Perspective on stewardship function

This paper reviews the existing and emerging perspectives on fair value accounting (FVA) in context of stewardship function financial reporting. study draws diverse research threads theoretical notions to advance a comprehensive assessment FVA trade-off between decision-usefulness objective. By conducting narrative literature review, authors identify two distinct domains literature: FVA- result conceptual shift reporting; an enhancement general-purpose posits that can be considered as evolutionary, rather than revolutionary, development reporting measurement which emerged from financialisation globalisation economies. It is further suggested ability provide stewardship-relevant information may reduced due emphasis it places provision decision-useful for investment purposes. Therefore, call greater engagement policy-setters researchers when choosing underpinnings objectives.   Key words: Fair accounting, function, decision usefulness, IFRS 13.