Document ID: chunk:federal_register_of_legislation:F2024C00046:body:0:p1
Version: federal_register_of_legislation:F2024C00046
Segment Type: other
Provision Reference: 
Character Range: 0–3255

Compiled AASB Standard  AASB 13

Fair Value Measurement

This compiled Standard applies to annual periods beginning on or after 1 January 2024.  Earlier application is permitted for annual periods beginning after 24 July 2014 but before 1 January 2024.  It incorporates relevant amendments made up to and including 15 December 2022.
Prepared on 18 December 2023 by the staff of the Australian Accounting Standards Board.
Compilation no. 3
Compilation date:  31 December 2023

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.aasb.gov.au.
Australian Accounting Standards Board
PO Box 204
Collins Street West
Victoria   8007
AUSTRALIA

Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2023
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IFRS 13
ACCOUNTING STANDARD
AASB 13 FAIR VALUE MEASUREMENT

from paragraph
Objective 1
Scope 5
Measurement
Definition of fair value 9
The asset or liability 11
The transaction 15
Market participants 22
The price 24
Application to non-financial assets
Highest and best use for non-financial assets 27
Valuation premise for non-financial assets 31
Application to liabilities and an entity's own equity instruments
General principles 34
Liabilities and equity instruments held by other parties as assets 37
Liabilities and equity instruments not held by other parties as assets 40
Non-performance risk 42
Restriction preventing the transfer of a liability or an entity's own equity instrument 45
Financial liability with a demand feature 47
Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk              48
Exposure to market risks 53
Exposure to the credit risk of a particular counterparty 56
Fair value at initial recognition 57
Valuation techniques 61
Inputs to valuation techniques
General principles 67
Inputs based on bid and ask prices 70
Fair value hierarchy 72
Level 1 inputs 76
Level 2 inputs 81
Level 3 inputs 86
Disclosure 91
Commencement of the legislative instrument
Withdrawal of AASB pronouncements