Fair value measurement under IFRS 13
A look at the practical aspects of change in the guidance on fair value measurement
The term ‘fair value’ is the subject of a lot of debate in the media these days. John McCarroll and Goind Ram Khatri look at some of the practical aspects of recent changes in the guidance on fair value measurement and related disclosures.
First published in Accountancy Ireland.
Guidance on ‘fair value’ under the existing International Financial Reporting Standards (IFRS) is standards. Recently, the International Accounting Standards Board (IASB) issued a new accounting standard,
IFRS 13 Fair value measurement which establishes a single source of guidance for fair value measurement where fair value is required or permitted under IFRS. This article looks at some of the practical considerations relevant for first-time application of the standard.