The purpose of this course is to familiarize the participant with the guidance on fair value measurement as described in IFRS 13. Prior to this new standard, released in May 2011, there was no single standard that addressed fair value. Multiple standards had their own requirements. This standard does not prescribe what needs to be reported at fair value. But, when a standard does require fair value, this standard applies, unless the particular situation is outside the scope of this IFRS.
- Explain the definition of fair value
- Understand the various ways in which fair value is measured
- Understand the disclosures required for fair value
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