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ACCA - P2 > IFRS-13 Fair Value > Flashcards

IFRS-13 Fair Value Flashcards

1
Q

Definition

A
  • The price that would be received to sell and asset
  • In an orderly transaction
  • Between market participants at measurement date
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2
Q

Levels of FV measurement

A

1) Identical items/quoted prices in active market
2) Similar items/quoted prices
3) Model or formula based on assumptions

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ACCA - P2 (14 decks)

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