As a number of contributors to this book make clear, there are several possible meanings of fair value, making it, with the true and fair view, an ‘accounting and legal will-o’-thewisp’ (Dean and Clarke 2005: i). Of course, the FASB is now, in SFAS 157, seeking to define it as an exit value. The rest of the world may or may not accept this, but even if they do, that does not rule out the possibility of using in accounting other variants of current or market value: the labelling issue should not be confused with the discussion of detailed differences between alternative current values as a measurement basis in accounting. This book sets out to explore the broadly defined notion of market value or current value from as many different aspects as possible.