Page 6 - PowerPoint Presentation

IFRS 13
Outcomes

• Identify the scope and purpose of IFRS 13.

• Define fair value and other applicable definitions.

• Understand the following concepts: principal market, most advantageous

market, orderly transaction, market participants and the price.

• Determine the fair value of non-financial assets by referring to the highest and

best use of the asset.

• Apply the specific application of IFRS 13 to liabilities and an entity’s own

equity instruments.

• Identify valuation techniques to be followed which must be consistent with

one or a combination of the either the market, cost or income approach.

• Understand the three levels of fair value measurement, which classification

thereof depends on the degree of observable markets (fair value hierarchy).

• The disclosure requirements of IFRS 13.