Transcription of Fair Value Measurement IFRS 13
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Fair Value Measurement IFRS 13
IFRS 13 Fair Value MeasurementIn May 2011 the International Accounting Standards Board issued IFRS 13 Fair ValueMeasurement. IFRS 13 defines fair Value and replaces the requirement contained inindividual Standards have made minor consequential amendments to IFRS 13. They includeIAS 19 Employee Benefits (issued June 2011), Annual Improvements to IFRSs 2011 2013 Cycle (issued December 2013), IFRS 9 Financial Instruments (issued July 2014) andIFRS 16 Leases (issued January 2016).IFRS 13 IFRS FoundationA685 CONTENTS from paragraphINTERNATIONAL FINANCIAL REPORTING STANDARD 13 FAIR Value MEASUREMENTOBJECTIVE1 SCOPE5 MEASUREMENT9 Definition of fair value9 The asset or liability11 The transaction15 market participants22 The price24 Application to non-financial assets27 Application to liabilities and an entity s own equity instruments34 Application to financial assets and financial liabilities with offsetti
measures fair value using another valuation technique that maximises the use of relevant . observable inputs. and minimises the use of . unobservable inputs. Because fair value is a market-based measurement, it is measured using the assumptions that market participants would use when pricing the asset or liability, including assumptions about risk.
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