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Fair value under IFRS 13 following factors are to be determined / identified:
- Asset or Liability:
- which is the subject of the measurement (per unit of account)
- Valuation Premise:
- for a non-financial asset, the valuation premise that is appropriate for the measurement (per Highest and best use)
- Principal market:
- for the asset or liability
- Valuation Technique:
- for appropriate measurement,
- considering the availability of data:
- to develop inputs
- that represent the assumptions
- that market participants would use
- to price the asset or liability and
- the level of the Fair value hierarchy within which the inputs are categorised.
Read more here:
More about IFRS 13
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Posted by Vikrmn: Author of "10 Alone" (CA Vikram Verma) 10Alone.com
