Disclosures required under IFRS 13 - Fair Value Measurements
Tuesday, December 17, 2013
ChartAcc.com - Minimum disclosures required by IFRS 13 (in Tabular form, unless any other format is appropriate) are as follows:
- Measurement (Value):
- of the Fair Value at the end of the reporting period
- Reasons for the measurement:
- Hierarchy level:
- of the Fair Value
- within which the fair value measurements are categorised
- i.e. Level 1, 2 or 3
- HBU (Highest and Best Use) differs:
- if HBU of a non-financial asset
- differs from its current use, then
- disclose the fact that why the non-financial asset is being used in a manner that differs from its HBU.
- Transfers between Level 1 and Level 2:
- For assets and liabilities held at the reporting date
- that are measured at fair value on a recurring basis,
- Disclosure of:
- Amounts
- the Reasons for those transfers and
- the entity's Policy for determining when transfers between levels are deemed to have occurred, separately disclosing and discussing transfers into and out of each level
- Classifications under Level 2 and Level 3:
- Description of the valuation technique(s) and
- the Inputs used in the fair value measurement,
- Change (if any) in the valuation techniques and
- the Reason/s for making such change (with exceptions, if any)
- Classifications under Level 3:
- For RFVM and NRFVM
- Quantitative information of unobservable inputs used in the measurement (with exceptions, if any)
- Description of the valuation processes used by the entity
- For RFVM:
- Changes in unobservable inputs:
- Description of the sensitivity of changes in unobservable inputs
- Resulting in a significantly higher or lower fair value measurement
- Interrelationships, if any, between these inputs and other unobservable inputs used in the fair value measurement then explain:
- Nature
- Description and
- Facts that how they might magnify or mitigate the effect of changes in the unobservable inputs.
- Alternative Assumptions:
- if changing any unobservable input
- to reflect alternative assumptions
- would change fair value significantly
- for financial assets and financial liabilities
- then disclose and explain:
- That fact,
- Effect of those changes and
- Calculation of the assumption.
- Reconciliation of opening balances and closing balances then
disclosing separately changes during the period attributable to: - Total Gains or Losses for the period recognised in:
- Profit or Loss Account:
- Directly as separate line item or
- The line item/s in which these are clubbed
- separately disclosing the amount attributable to the change in un-realised gains or losses.
- Other Comprehensive Income:
- Directly as separate line item or
- The line item/s in which these are clubbed
- Purchases, sales, issues and settlements
- Separate disclosure of all such changes
- Transfers into / out of Level 3:
- Amounts of the transfer
- Reasons for those transfers
- Entity's policy for determining when transfers between levels are deemed to have occurred.
- Incoming and outgoing transfers to be disclosed separately.
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