nayana madwani
asked over 1 year ago
Write a note on IFRS standards 13 transaction?
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Princy
answered over 1 year ago
The transaction
A fair value measurement assumes that the asset or liability is exchanged in an orderly transaction between market participants to sell the asset or transfer the liability at the measurement date under current market conditions.
A fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either:
(a) in the principal market for the asset or liability.
(b) in the absence of a principal market, in the most advantageous market for the asset or liability.
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