Economic value is the present value of future cash flows expected to be generated by an asset. It provides a measure of the worth of an asset considering its future income and cost streams.
Fair Value Accounting involves the valuation of financial obligations according to pricing models rather than their current market price, especially when there's no active market presence.
The International Valuation Standards Council (IVSC) is an independent, non-profit organization that sets global standards for the valuation profession.
