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Using the guidance of IAS 16 and IFRS 13, how would you calculate the fair value...

Using the guidance of IAS 16 and IFRS 13, how would you calculate the fair value of land?

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Answer #1

Valuation of Fair Value of Land Using guidance of IAS 16 and IFRS 13 is done via highest and best use.

That is , fair value of Land is determined based on the highest and best use of the asset as determined by a market participant.

And in Market Participant assumption Fair value is measured using the same assumptions and taking into account the same characteristics of the asset or liability as market participants would. Fair value is a market-based, not entity- specific measurement.

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