IFRS for SMEs / Section 12: Fair Value Measurement
Section 12: Fair Value Measurement
In the third edition Section 12 is a new section on fair value: what fair value means, the valuation techniques and the hierarchy of inputs, with the disclosures for items measured at fair value.
Disclosures to look for
- 12.28 For items measured at fair value: the valuation technique, the inputs and their level in the hierarchy.
Third edition
Section 12 in the third edition: the new fair value section
On the 2015 edition
The 2015 edition's Section 12 covers other financial instruments issues, not fair value measurement. On the 2015 edition, take the fair value disclosures from the 2015 text of Sections 11 and 12.
How Sight applies it
On the third edition, a revaluation reserve in the ledger adds a fair value note with the facts the accountant must complete.
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