May 2011
International Financial Reporting Standard ®
IFRS 13 Fair Value Measurement Standard ISBN 978-1-907877-11-7
International Accounting Standards Board (IASB) The IASB is the independent standard-setting body of the IFRS Foundation 30 Cannon Street | London EC4M 6XH | United Kingdom Telephone: +44 (0)20 7246 6410 | Fax: +44 (0)20 7246 6411 Email:
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International Financial Reporting Standard 13 Fair Value Measurement
IFRS 13 Fair Value Measurement is issued by the International Accounting Standards Board (IASB), 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7246 6410 Fax: +44 (0)20 7246 6411 Email:
[email protected] Web: www.ifrs.org The IASB, the IFRS Foundation, the authors and the publishers do not accept responsibility for loss caused to any person who acts or refrains from acting in reliance on the material in this publication, whether such loss is caused by negligence or otherwise. Copyright © 2011 IFRS Foundation® IFRS 13 and its accompanying documents are published in three parts. ISBN for this part: 978-1-907877-22-3 ISBN for complete publication (three parts): 978-1-907877-21-6 International Financial Reporting Standards (including International Accounting Standards and SIC and IFRIC Interpretations), Exposure Drafts, and other IASB publications are copyright of the IFRS Foundation. The approved text of International Financial Reporting Standards and other IASB publications is that published by the IASB in the English language. Copies may be obtained from the IFRS Foundation. Please address publications and copyright matters to: IFRS Foundation Publications Department, 1st Floor, 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7332 2730 Fax: +44 (0)20 7332 2749 Email:
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IFRS 13 FAIR VALUE MEASUREMENT
CONTENTS paragraphs INTRODUCTION
INTERNATIONAL FINANCIAL REPORTING STANDARD 13 FAIR VALUE MEASUREMENT OBJECTIVE
1–4
SCOPE
5–8
MEASUREMENT
9–90
Definition of fair value
9–10
The asset or liability
11–14
The transaction
15–21
Market participants
22–23
The price
24–26
Application to non-financial