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Explain the three-level hierarchy for Fair Value Measurements that are used in IFRS 13?

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/01/25
Safder Shaikh
by Safder Shaikh , Financial Specialist , Youssef Abdullah El Khereiji & Sons holding Co.

Step1

 

 

 

Identify the balance or transaction that may or maybe  measured or disclosed at fair value and when such measurement (disclosure) is necessary.

 

 

Step2

Determination of fair value upon initial recognition.

 

 

Step3

Determine if the subsequent measurement of the account balance is at fair value and/or if fair value disclosures are required.

 

 

 

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