AASB 2011-8 - Amendments to Australian Accounting Standards arising from AASB 13 - September 2011
46Paragraph 26 is amended as follows (new text is underlined and deleted text is struck through):
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46 Paragraph 26 is amended as follows (new text is underlined and deleted text is struck through):
26 The fair value of an asset for which comparable market transactions do not exist is reliably measurable if (a) the variability in the range of reasonable fair value estimates measurements is not significant for that asset or (b) the probabilities of the various estimates within the range can be reasonably assessed and used in estimating when measuring fair value. If an entity is able to determine measure reliably the fair value of either the asset received or the asset given up, then the fair value of the asset given up is used to measure the cost of the asset received unless the fair value of the asset received is more clearly evident.