This course is comprised of two articles IFRS 13 Fair Value Measurement (Part 1) and (Part 2).
IFRS 13, Fair Value Measurement, defines “fair value” and sets out, in a single IFRS, a framework for measuring fair value along with the disclosures necessary to understand what underpins the fair value measurements. IFRS 13 applies when other IFRSs require or permit fair value measurements.
The objective of IFRS 13 is to define fair value and to set out in a single IFRS a framework for measuring fair values, as well as defining the disclosures necessary to understand how the fair value measurements were derived. IFRS 13 applies to IFRSs that require or permit fair value measurements or disclosures about fair value measurements (and measurements, such as fair value less costs to sell, based on fair value or disclosures about those measurements), except in specified circumstances.
IFRS 13 explains how to measure fair value for financial reporting. It does not require fair value measurements in addition to those already required or permitted by other IFRSs, nor does it establish valuation standards or affect valuation practices outside financial reporting.
For other IFRS and IAS articles and courses please go to Selected IFRS Standards Series