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Fair Value
How we can calculate fair value of assets? please guide with latest updation as per IFRS
you can calculate fair value by any of following methods
1. Replacement cost
2. Realizable (sale) value
Sometime this is NRV = net realisable value (net of sale costs, or after sale costs have been deducted)
3. Current value

Higher value of all of above will be the exact fair value of the asset
What will be the situation if no market exist to detemine the fair value of the asset? is current value is not enough to be called fair value?
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