Fair Value Measurement (IFRS 13/AASB 13)

Corporate Reporting Insights

BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

• AASB proposes guidance for determining fair values in the public sector (AASB 13) (May 2022)
• Fair value measurement​ (August 2021)
• Simplified impairment requirements for NFP'S - no more assessment of depreciated replacement cost ​( August 2016)
• Relief from certain fair value disclosures for not-for-profit public sector entities (August 2015)
• Land and buildings – Which level in the fair value hierarchy? (August 2014)
• AASB 13 practical implementation issues for derivative valuations (March 2014).

BDO Global IFRS Resources

The following publications have been produced by the BDO Global IFRS group:

► IFRS at a Glance

A high level overview of International Financial Reporting Standards (IFRSs), including International Accounting Standards and Interpretations.

• IFRS 13 Fair Value Measurement
• IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments
• IFRIC 17 Distributions of Non-cash Assets to Owners​
• IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments.

Webinars

BDO Australia conducts monthly complimentary webinars as an easy way to stay up to date with changes to accounting standards and other financial reporting developments. Recent webinars on this topic include:

• Navigating complexities of determining fair value (August 2022).

IFRIC agenda decisions

IFRS Interpretations Committee (the Committee) agenda decisions are those issues that the Committee decided not to take onto its agenda. Although not authoritative guidance, in practice they are regarded as being highly persuasive, and all entities reporting under IFRS should be aware of these decisions because they could impact the way particular transactions and balances are accounted for. Agenda decisions on this topic include:

• The fair value hierarchy when third-party consensus prices are used​ (January 2015) and FAQ.

Online training resources

Improve your knowledge of accounting standards by purchasing our online training resources on a variety of financial reporting topics. Resources available on this topic include:

• A seminar – a pre-recorded two-hour webinar that provides a high-level overview of the accounting standard, as well as a question and answer case study booklet