Highest and best use

From ACT Wiki
Revision as of 14:14, 1 August 2015 by imported>Doug Williamson (Expand the stub. Source: IFRS 13 paragraph 28.)
Jump to navigationJump to search

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' of the asset being valued takes into account the use of the asset that is:

  • Physically possible
  • Legally permissible and
  • Financially feasible.


See also

Retrieved from ‘https://wiki-dev.treasurers.org/w/index.php?title=Highest_and_best_use&oldid=24850’