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Date recorded:

The Board debated the relationship between fair value and the three components of deprival value: replacement costs, value in use, and net realisable value. Members debated the various measurement criteria available and concluded that the papers presented should be amended and resubmitted to the Board to reflect the differing views presented. No conclusions were reached.

The following resources were referred to:

  • Measuring Fair Value, FASB June 2001 (PDF 101k).
  • Fair Value, Deprival Value and Depreciated Replacement Cost, Australian ASB, February 2001.

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