Fair value and Legislation: Difference between pages

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1.
1.  


The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction.
Written law created by a central law-making body (rather than by the courts).




2.  
2. ''Tax''.


More specifically, the price at which an asset can be bought or sold in transparent markets, where contracting parties are informed and act in their best interest.
Taxation law derived from a Finance Act in the UK.


It represents the theoretical equilibrium price of securities or derivatives on open markets, for example,  both buyers and sellers do not perceive them as overpriced or under-priced.
3.
''Financial reporting - accounting practices.'' 
The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between [[market participant]]s at the valuation date.
Also known as Fair market value.
Relevant accounting standards include IFRS 13, and  Section 9 and Section 19 of FRS 102.




== See also ==
== See also ==
* [[Assets]]
* [[Civil law]]
* [[Cost approach]]
* [[Common law]]
* [[Face value]]
* [[Contract]]
* [[IFRS 13]]
* [[Finance Act]]
* [[FRS 102]]
* [[Jurisdiction]]
* [[FVTPL]]
* [[Law]]
* [[FVTOCI]]
* [[Parliament]]
* [[Income approach]]
* [[Primary legislation]]
* [[Intrinsic value]]
* [[Regime]]
* [[Liabilities]]
* [[Regulation]]
* [[Market approach]]
* [[Secondary legislation]]
* [[Statutory instrument]]
* [[Tax]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Corporate_finance]]

Revision as of 16:34, 5 July 2022

1.

Written law created by a central law-making body (rather than by the courts).


2. Tax.

Taxation law derived from a Finance Act in the UK.


See also

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