Question

Week 4 Discussion 1

"Fair Value Accounting Under IFRS" Please respond to the following:

From the e-Activity, in terms of which takes precedence and provides the most information, evaluate the potential interaction of IFRS13 fair value measurement with other IFRS fair value measurement standards. Create an argument for the increased disclosure requirements under IFRS 13 as compared to other IFRS standards addressing fair value measurement. Provide support for your argument.

Examine the main problems that an entity may encounter, and determine the highest and best use for fair value measurements under IFRS 13. Identify and provide alternative recommendations that can be used for determining fair value of assets when active markets are not available.

Answer 1

1. From the case study, compare the disclosure notes provide in nestle, swatch group and royal bank of scotland with the disclosure notes of new group and CBS corporation. Explain with the disclosure notes are more informative to the shareholders in evaluation of financial statements.

2. Contest the difference between impairment testing of goodwill and impairment testing requirements for other assets examine the purpose of difference identify testing impairment of goodwill and other assets