IASB Exposure Draft on Fair Value Measurement
This Exposure Draft on Fair Value Measurement, has been issued by the International Accounting Standards Board keeping in view the following objectives:
To establish a single source of guidance for all fair value measurements required or permitted by IFRSs to reduce complexity and improve consistency in their application;
To clarify the definition of fair value and related guidance in order to communicate the measurement objective more clearly; and
To enhance disclosures about fair value to enable users of financial statements to assess the extent to which fair value is used and to inform them about the inputs used to derive those fair values.
The proposed IFRS does not require additional fair value measurements.
Invitation to comments
ASB inviting comments on the said Draft from the public. The downloadable version of the draft is available at http://www.iasb.org/NR/rdonlyres/C4096A25-F830-401D-8E2E 9286B194798E/0/EDFairValueMeasurement_website.pdf. Whereas the Basis for Conclusions and Illustrative Examples are available at http://www.iasb.org/NR/rdonlyres/D55E0BA1-5420-456B-8CCC EB488BAD5B80/0/EDFairValueMeasurementBC_website.pdf and http://www.iasb.org/NR/rdonlyres/8C24627A-3E1B-49EB-9740 E6EB67C0C594/0/EDFairValueMeasurementIE_website.pdf respectively. Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than