Fair Value Measurement and Mandated Accounting Changes: The Case of the Victorian Rail Track Corporation

Malcolm Abbott, Angela Tan-Kantor

Research output: Contribution to journalArticle


VicTrack in the State of Victoria in Australia began using fair value to value its assets in 2011. In doing this the company encountered the difficulties normally associated with valuing long-lived assets that are specific to their use. In this paper, a case study is presented centred on VicTrack in order to provide information on the basic difficulties of determining the fair value of assets that are long-lived, specific-to-use and in markets that are incomplete; and to better understand some of the implications of the switch from historical costs to fair value.

Original languageEnglish
Pages (from-to)266-278
Number of pages13
JournalAustralian Accounting Review
Issue number2
Publication statusPublished - 1 Jun 2018
Externally publishedYes


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