Pointer to IFRS 13 fair value

Learning objectives

• Recognise that the measurement of the fair value of instruments falls within IFRS 13; cross-reference only.L2

Normative references

• IFRS 9 §5.1.1Initial measurement: at fair value, adjusted, for financial assets or financial liabilities not at FVTPL, by transaction costs directly attributable to the acquisition or issue (added for an asset, deducted for a liability); trade receivables within para. 5.1.3 are an exception.

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

1 question

• A student reviews the initial measurement of a financial asset not measured at FVTPL. Which sentence correctly describes what IFRS 9 provides and its reference to IFRS 13?L2