Items whose fair value is only disclosed

Learning objectives

• Identify the disclosures required for items whose fair value is only disclosed.L3

Normative references

• IFRS 13 §97For each class of items not measured at fair value in the statement of financial position but for which fair value is disclosed: level of the hierarchy, valuation techniques and inputs (Levels 2 and 3) and, where applicable, the difference between highest and best use and current use (93(b), (d) and (i)), without the quantitative information about unobservable Level 3 inputs or the other disclosures of the Standard.

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

2 questions

• A loan measured at amortised cost in Sorvane's accounts nevertheless has its fair value disclosed in the notes. What must the entity state about that fair value?L3
• A group's notes give, for financial liabilities at amortised cost whose fair value is disclosed, only the fair value amount. What is the error?L3