Is anyone interested in discussing the IASB exposure draft on Fair Value Measurement?
5 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 01 August 2009
i am always interested in all discusson on ifrs
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 01 August 2009
When ru going to Start Narayan?????????
Narayanan Balakrishnan
(Chartered Accountant)
(98 Points)
Replied 01 August 2009
1) Fair value is required to be estimated by determinig the assumptions of the market participants ( mainly market particaipants from the asset's principal market.
2) The exposure draft proposes that fair value of an asset should be measured at its best use value. If current use value differs from best use value, then the current use value and the incremental value (difference) should be disclosed and the reason for not putting the asset to its best use should be disclosed.
3) The ED proposes classifying asset accorging to hierarchial level of input used which is as follows -
a) Level 1 Inputs - Quoted price of similar asset.
b) Level 2 Inputs - Quoted price of identical assets
c) Level 3 Inputs - Using observable inputs requiring significant adjustments and unobservable inputs (ie. entity's own assumptions about market participants.
The levelling approach is similar to FAS 157.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 09 August 2009
good one yar
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