Question
1. AASB 13/IFRS 13 proposes a fair value hierarchy. Discuss the differences between the various levels in the hierarchy and whether prices produced under all
1. AASB 13/IFRS 13 proposes a fair value hierarchy.
Discuss the differences between the various levels in the hierarchy and whether prices produced under all levels should be described as fair values.
2.What are the key elements of the definition of fair value? Explain the effects of inclusion of each element in the definition.
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
