The use of the word ‘fair’; some thoughts for accountants
In accounting we use the word ‘fair’ a bit. ‘Fair value’ and ‘true and fair view’ are two key concepts that come to mind. But what is fair, and what is unfair. What might be fair to you, is unfair to me and so on. And then, what if we try to translate ‘fair’ into other languages. Does it retain it’s meaning. I don’t know to be honest as I’m not a linguist. But as an accountant, I’m sort of programmed to think logically and look for a definite answer. But maybe there isn’t one. To get you thinking, have a read of this piece from economist.com. It’s a bit a bit of fun on the use of the word ‘fair’ around the recent emergency budget in the UK.