The IFRS Foundation Education Initiative is developing, with the assistance of a valuation experts group, educational materials in order to support the IFRS 13 Fair Value Measurement. The material refers to the applying of the principles in IFRS 13 across a number of topics.
During the development of IFRS 13 entities in emerging and transition economies expressed their concerns about applying fair value measurement principles in their jurisdictions. Those concerns were reiterated by some members and staff of the IASB at a meeting held with the Emerging Economies Group (EEG) in Beijing in July 2011. However, the IASB noted that entities in developed economies faced similar challenges during the global financial crisis that started in 2007. This is the context that triggered IASB’s decision to develop educational material on fair value measurement for an audience that includes not only entities in emerging and transition economies but also entities in developed economies.
Because the fair value measurement project was a joint project with the FASB, the FASB staff will also be involved in the development of the educational materials.
The first chapter of this educational material entitled Measuring the fair value of unquoted equity instruments according to IFRS 9 Financial Instruments was published by IFRS Foundation and IASB on 20 December 2012 and updated on 12 February 2013.