Question

The CEO of Sky Ltd is considering adopting the revaluation model for the measurement of the company's buildings, given the recent price increase in the property market. When applying the fair value measurement, the CEO takes into consideration how the company is currently using the buildings, and he believes that entity-specific information needs to be considered in the generation of fair value measurements. The CEO doubts that an asset measured on any other basis than its current use will provide more useful information to the users of financial statements. Q1.1 3 Points Please explain whether the CEO's view is consistent with AASB 13 Fair Value Measurement.

          The CEO of Sky Ltd is considering adopting the revaluation model for the measurement of the
company's buildings, given the recent price increase in the property market. When applying the
fair value measurement, the CEO takes into consideration how the company is currently using
the buildings, and he believes that entity-specific information needs to be considered in the
generation of fair value measurements. The CEO doubts that an asset measured on any other
basis than its current use will provide more useful information to the users of financial
statements.
Q1.1
3 Points
Please explain whether the CEO's view is consistent with AASB 13 Fair Value Measurement.

The CEO of Sky Ltd is considering adopting the revaluation model for the measurement of the
company's buildings, given the recent price increase in the property market. When applying the
fair value measurement, the CEO takes into consideration how the company is currently using
the buildings, and he believes that entity-specific information needs to be considered in the
generation of fair value measurements. The CEO doubts that an asset measured on any other
basis than its current use will provide more useful information to the users of financial
statements.
Q1.1
3 Points
Please explain whether the CEO's view is consistent with AASB 13 Fair Value Measurement.

Added by Sandra T.

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