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Are Financial statements report the fair market value of a company?

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Question added by Azeem Ahmed , Cheif Accountant , Al Shafar Group
Date Posted: 2015/11/22
Mohamed Alsayed Matbouly CMA
by Mohamed Alsayed Matbouly CMA , CFO , ESPAC COMPANY, Emirates Saudi Precast Aerated Concrete

Financial statements calculated based on a carrying cost except PPE according to IAS must do test impairment annually , also make evaluation for outstanding foreign currencies .... etc

Ansar Iqbal
by Ansar Iqbal , Lecturer , Apex college sambrial

No, Financial Statement report the Balance sheet value of company, company Fair Market Value is value prevail in market so it depend upon demand and supply and company performance based. 

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