IFRS 13 Fair value measurement
IFRS 13 Objective and Scope
1 This IFRS:
- defines fair value;
- sets out in a single IFRS a framework for measuring fair value; and
- requires disclosures about fair value measurements.
2 Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available. For other assets and liabilities, observable market transactions and market information might not be available. However, the objective of a fair value measurement in both cases is the same—to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between Read more