CTHRepealedLegislation
Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2010 - GRS 400 (2010) - Supplementary Reporting Information
(8) Fair Value of Joint Venture(8) Fair Value of Joint Venture
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(8) Fair Value of Joint Venture
Disclose the fair value of the joint venture. Fair value is 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:
- The quoted market price (i.e. bid or ask price) in an active and liquid market; or
- When there is infrequent activity in a market, the market is not well established, small volumes are traded relative to the asset or liability to be valued, or a quoted market price is not available – a realistic estimate of fair value on the basis of the results of a valuation technique that makes maximum use of market inputs, and relies as little as possible on entity-specific inputs.