Document ID: chunk:federal_register_of_legislation:F2023L00010:body:0:p94
Version: federal_register_of_legislation:F2023L00010
Segment Type: other
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Character Range: 253605–254398

for it to undertake standard-setting work to investigate whether there is a need to modify AASB 13 for application by not-for-profit private sector entities.

  [1]  This Guidance Note is not explicitly identified as applying to fair value measurements, or non-fair value measurements, using depreciated replacement cost. However, paragraphs 2.1 and 2.2 of the Guidance Note refer to depreciated replacement cost being used in relation to the 'cost approach' to valuation, and to the market and income approaches as the other principal approaches to valuation, implying the Guidance Note would be relevant to fair value measurements (even if not exclusively).
  [2]  That Application Guidance was created by the New Zealand Accounting Standards Board and is additional to the text of IPSAS 17.