Search Definitions

local government means an entity comprising all entities controlled by a governing body elected or appointed pursuant to a Local Government Act or similar …

A market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing …

A valuation technique that reflects the amount that would be required currently to replace the service capacity of an asset (often referred to as current replacement …

The price paid to acquire an asset or received to assume a liability in an exchange transaction. …

The price that would be received to sell an asset or paid to transfer a liability. …

The probability-weighted average (ie mean of the distribution) of possible future cash flows. …

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement …

The use of a non-financial asset by market participants that would maximise the value of the asset or the group of assets and liabilities (eg a business) within which the asset would be …

Valuation techniques that convert future amounts (eg cash flows or income and expenses) to a single current (ie discounted) amount. The fair value measurement is determined on the basis of the value indicated by current market expectations about those …

The assumptions that market participants would use when pricing the asset or liability, including assumptions about risk, such as the following: (a)             the risk inherent in a particular valuation technique used to measure fair value (such as a …