Interaction with IFRS 13

Learning objectives

• Place the dependence of IAS 40 fair value on IFRS 13.L2, L3

Normative references

• IAS 40 §33Fair value model: after initial recognition, all investment property is measured at fair value, except in the cases described in para. 53.
• IAS 40 §35A gain or loss arising from a change in fair value is recognised in profit or loss for the period in which it arises.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• Urvane applies the fair value model to its investment property. Which combination correctly describes how fair value is determined and how its change is recognised?L3