Résumé en anglais

This article reviews the present state of the debate in France on the introduction of IFRS. It suggests that history shows that market value was the dominant approach to balance sheet valuation in the nineteenth century, and analyses the ultimate replacement of static theory, using market values, by dynamic theory, which is based on historical cost and the going concern and permits the systematic write-off of assets, and allows more regular payment of dividends. The article suggests that IFRS, based on a mixture of fair value and value in use, assumes a valuation of companies based on their future profitability, hence the description of the approach as forward-looking accounting.