IFRS 13Chapter 3Lesson 1
The unit of account: what exactly is being measured?
Step 1 of 6Learning objectives
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The item measured may be a single asset or a group of items. In principle, the standard that requires or permits fair value sets this unit of account, subject to the provisions of IFRS 13.
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Learning objectives
- Define the unit of account and explain what it is for.
- Determine an item's unit from the standard that requires or permits fair value.