IFRS 13 — Fair Value Measurement
Modules of the standard
- Concepts57 publishedNormative and pedagogical mapping.
- Questions178 publishedTrue/false, quizzes, calculations, entries, mini-cases, judgment.
- Practical cases6 publishedProgressive cases, from beginner to expert.
- Workpapers5 publishedWorking papers with calculations and entries.
- Professional file1 publishedSimulation of a full engagement.
- Exams2 publishedSealed, versioned final exams.
- Explanations (lessons)15 publishedLesson explanations, chapter by chapter.
Practical cases
- Five situations: exit price, market participants and scope exclusionsL1Beginner
- Principal market, most advantageous market, transaction and transport costs: Mécanor's hydraulic pressL2Intermediate
- Industrial site: highest and best use, valuation premise and present value techniqueL3Advanced
- Warranty liability: transfer, own credit risk and classification in the hierarchyL3Advanced
- Level 3 instruments: classification, reconciliation and sensitivityL4Expert
- Day one difference and portfolio exception of a bankL4Expert
- Fair value measurement file of an industrial and financial groupL4Expert
Workpapers
Concepts by topic
Mapping texts (concept labels, objectives, paragraph summaries) are available in French only for now.
Purpose, scope, exclusions and exemptions
- Purpose and nature: a market-based measurementCore4 questions
- When IFRS 13 appliesCore5 questions
- Scope exclusionsCore4 questions
- Disclosure exemptionsImportant2 questions
Definition: exit price, market participants
- The exit priceCore4 questions
- Market participantsCore4 questions
- The entity's intention is irrelevantImportant2 questions
- Characteristics of the asset or liabilityImportant3 questions
Unit of account
- The unit of accountCore4 questions
Principal or most advantageous market; transaction and transport costs
- The principal marketCore5 questions
- The most advantageous marketCore5 questions
- Transaction costsCore5 questions
- Transport costsImportant3 questions
Non-financial assets: highest and best use
- Highest and best useCore4 questions
- The valuation premiseImportant1 question
Liabilities and the entity's own equity instruments
- The liability transfer assumptionCore4 questions
- Item held by another party as an assetImportant2 questions
- Item not held by another party as an assetImportant3 questions
- Non-performance riskCore5 questions
- Transfer restrictionsAdvanced1 question
- Demand featureImportant3 questions
Portfolio exception: net exposure
- The net exposure exceptionCore6 questions
- Scope of the exceptionImportant2 questions
- Measuring the net positionImportant4 questions
Fair value at initial recognition
- Transaction price and fair valueCore3 questions
- The day-one differenceCore6 questions
Valuation techniques and approaches
- Market, cost and income approachesCore3 questions
- Selecting and weighting techniquesCore5 questions
- CalibrationImportant3 questions
- Changing a techniqueImportant3 questions
- Present value techniquesCore5 questions
Inputs to valuation techniques
- Observable and unobservable inputsCore4 questions
- Premiums and discountsImportant4 questions
- Bid and ask pricesImportant3 questions
Fair value hierarchy: Levels 1, 2 and 3
- Classifying by the lowest-level inputCore3 questions
- Level 1Core4 questions
- No blockage factorImportant2 questions
- Level 2Core1 question
- Level 3Core4 questions
- Transfers between levelsImportant2 questions
Decreased activity and non-orderly transactions
- Significant decrease in activityImportantNo question
- Non-orderly transactionsImportant2 questions
Disclosures
- Disclosure objectivesImportant2 questions
- Fair value by category and levelCore4 questions
- Techniques and inputs (Levels 2 and 3)Core4 questions
- Level 3 reconciliationCore5 questions
- Level 3 process and sensitivityImportant2 questions
- Items whose fair value is only disclosedImportant2 questions
- Inseparable credit enhancementAdvanced1 question
- Tabular formatAdvanced1 question
Effective date and transition
- Effective dateAdvanced1 question
- Prospective applicationAdvanced1 question
Boundaries with other standards
- IAS 16: revaluationImportant3 questions
- IAS 38: active marketImportant2 questions
- IAS 36: fair value less costs of disposalImportant3 questions
- IFRS 9: classification and day-one differenceImportant4 questions
- IFRS 3: assets acquired and liabilities assumedAdvanced1 question