Highest and best use: Difference between revisions
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imported>Doug Williamson (Create the page. Source: IFRS 13, page A629) |
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''Financial reporting - fair value''. | |||
IFRS 13 Fair Value Measurement defines 'highest and best use' in relation to establishing fair values for non-financial assets and liabilities. | |||
In this context the measurement of the 'highest and best use' by market participants of the asset being valued takes into account the most advantageous use of the asset that is: | |||
*Physically possible | |||
*Legally permissible and | |||
*Financially feasible. | |||
==See also== | ==See also== | ||
*[[Fair value]] | |||
*[[IFRS 13]] | *[[IFRS 13]] | ||
*[[ | *[[Market participant]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
Latest revision as of 15:28, 1 July 2022
Financial reporting - fair value.
IFRS 13 Fair Value Measurement defines 'highest and best use' in relation to establishing fair values for non-financial assets and liabilities.
In this context the measurement of the 'highest and best use' by market participants of the asset being valued takes into account the most advantageous use of the asset that is:
- Physically possible
- Legally permissible and
- Financially feasible.
