Author(s): Hassan Joudah Alhassany, Khalil Ibrahim Ismail, Mohammed Ali Mohammed
Accounting literature divided into two basic schools, the first one normative school concern with normative concepts such as ethics & social concepts, and concentrate on value implications statements so determining objectives became its core by determining and interpretation the needs of accounting information users. While positive school concentrate on empirical continuity for accounting being a discipline of formal education with concentrating on neutral presentation of accounting events and its discloser. It become clear that those accounting information users are the essences of both schools, by fulfilling there information needs under value standards in the first school, and by reflecting practical reality for them in neutral way without preferring some users over the others. This study based on idea aims to clarify the meaning of fairness concept to become easier to include it within accounting standard and rules, and studying the effect of the ethical concept over some of the international and local financial disclosure applications. The most important theoretical conclusion is that fairness considered value concept means unbiased and objectivity in dealing with the company stakeholders specially the externals, via fulfilling useful, reliable, relevance accounting information. Fairness means the same as justice and different from just, because the latter means the abstract application to laws and rules without taking into considerations the circumstances relating to the subject of study.