What is the purpose of AASB 13,'Fair Value Measurement'?
A) What to measure as fair value
B) When to disclose fair value measurements
C) How to measure fair value
D) Determining why fair value measurements are appropriate

Question

Quizplus · Accepted Answer

AASB 13 provides guidance on how to measure fair value, including defining fair value, outlining valuation techniques, addressing the use of unobservable inputs in fair value measurement, and establishing disclosure requirements. It does not address what to measure as fair value or when to disclose fair value measurements, nor does it cover the rationale for using fair value measurements.

What Is the Purpose of AASB 13,'Fair Value Measurement