Financial Sector (Collection of Data) determination No. 28 of 2005
(8) Market Value of Joint Venture(8) Market Value of Joint Venture
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(8) Market Value of Joint Venture
Disclose the total market value of the joint venture. Market value is to be interpreted as defined in accordance with the Australian accounting pronouncements.
“Market value means the amount which could be expected to be received from the disposal of an asset in an orderly market”[4]
Market value or fair value has the same meaning as defined in the Australian Accounting standards. Market value is defined for accounting purposes as a subset of fair value, where fair value means the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's-length transaction, and is determined as follows: