The Concept of Fair Value in German and French Accounting Regulations, 1673-1914

[Abstract] At the dawn of the 25st century, the appearance of fair value accounting is often presented as at the least an innovation, if not a revolution. The present article on the history of 〝value〟 as used m German and French accounting regulations from 1673 to 1914 will show that although valuation at cost would seem to predominate in the first European regulations (ca. 1673-1800), fair value valuation was highly recommended by the legal community and left its mark on German and French accounting regulatinos for the whole of the nineteenth century and beyond