The Body of Expert and Licensed Accountants of Romania supports all the stakeholders and makes available educational materials developed by the IFRS Foundation, free of charge, in the Romanian language, in order to support the application of IFRS standards.
During the development of IFRS 13, the International Accounting Standards Board (IASB) was made aware that entities in emerging and transition economies had concerns about applying the fair value measurement principles in their jurisdictions.
However, IASB noted that the concerns raised were not specific to entities in emerging and transition economies.
The lack of market data or other key information necessary in order to perform fair value measurements is a global constraint, rather than a regional one. This is the reason why IASB decided to develop educational materials on fair value measurement for an audience that includes not only entities in the emerging and transition economies but also entities in the developed economies.
In this context was developed the document Illustrative examples to accompany IFRS 13 Fair Value Measurement. Unquoted equity instruments within the scope of IFRS 9 Financial Instruments. The educational material is structured in order to address the application of the principles in IFRS 13 on different topics in individual chapters. This chapter illustrates, at a high level, the application of valuation techniques in the context of financial reporting and, more specifically, within the context of IFRS 13 and includes examples that seek only to illustrate in a simplified manner the measurement techniques described, but which do not describe all the procedures and complexities that a measurement exercise might entail in practice.
The Romanian translation of the document is available by accessing the section Publicații–Organisme internaționale–Alte documente de interes on CECCAR website.