Concepción de valor y precio desde Aristóteles a los clásicos una reflexión a la luz de las premisas de valoración de la Normas Internacionales de Información Financiera, NIIF

This paper is a bibliographical account of the concepts of use value and exchange value from Aristotle to the classics, which provide the basis for the valuation pre-mises of the International Financial Reporting Standards — IFRS — and for the concepts of cost and value found in the Standards of the International Valuation Standards Council —IVSC. The aim is to demonstrate how economic theory accounts for the concepts of value and price both in the International Valuation Standards and in the Interna-tional Accounting Standards, which will facilitate a better understanding of these in terms of measurements. The evolution and development of the concepts of price and value have set landmarks in economic history, allow us to see how they have been gradually perfected, through trial and error. The particular contributions of different schools and scholars, philosophers and economists, form the basis for the current notions of price and value. This paper compares the conceptual foundations of use value and exchange value with the valuation premises that defi-ne fair value measurements in the IFRS. It shows that these coincide with exchange value theory but diverge from the approach of use value, thereby ratifying the market perspec-tive that imposes fair value measurements within this inter-national model.