The globalization of the economy and the reorientation towards international accounting led to a change from a unilateral assessment based on historical costs to a symmetric valuation based on the valuation standard „Fair Value“. The Fair Value seems to be suitable, but international accounting with the Fair Value, which is the essential characteristic of international accounting, is strongly criticized, specifically for the valuation of non-financial assets. The decisions usefulness, the numerous discretion factors, the reduction of reliability and comparability lie at the core of the debates. Until the introduction of IFRS 13 there was no consistent concept to determine the Fair Value. Based on the three standards IAS 16, IAS 38 and IFRS 5 this work shows that the implementation of IFRS 13 led to a standardized determination of the Fair Value. Furthermore the standard includes detailed explanations, without changing the extent of the Fair Value valuation. Consequently, the IFRS 13 is an improvement, but still, only leads to partly better Fair Values. A Fair Value can only be as good as the reality, based on the imperfection of the markets, allows. This work draws on the analysis of standards and studies as well as the discussion of open questions and disadvantages and thus shows that the Fair Value will not dominate the international accounting in the near future. Companies still prefer a valuation with reliable historical costs for non-financial assets. In this sense a coexistence of these two valuation methods seems to be plausible.