ChartAcc: Disclosures required under IFRS 13 - Fair Value Measurements

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:

of NRFVM (Non-Recurring Fair Value Measurements)

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.

Read more here:

More about IFRS 13

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Posted by Vikrmn: Author of "10 Alone" (CA Vikram Verma) 10Alone.com

Theme - Disclosures under IFRS 13, Fair Value Measurements

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