Note 6 Fair Value Measurements
Note 6A Fair Value Measurements |
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The following tables provide an analysis of assets and liabilities that are measured at fair value. |
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The different levels of the fair value hierarchy are defined below. |
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Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the |
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entity can access at measurement date |
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Level 2: Inputs other than quoted prices included within Level 1 that are observable for the |
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asset or liability either directly or indirectly. |
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Level 3: Unobservable inputs for the asset or liability. |
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Fair value measurements at the end of the reporting period by hierarchy for assets and |
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liabilities in 2019 |
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Fair value measurements at the |
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end of the reporting period using |
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Fair value |
Level 3 |
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inputs |
Valuation |
inputs |
Valuation |
$’000 |
$’000 |
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Non - financial assets |
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Leasehold improvements |
1,886 |
1,886 |
Depreciated replacement cost |
Other plant and equipment |
2,049 |
2,049 |
Depreciated replacement cost |
Total non-financial assets |
3,935 |
3,935 |
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Total fair value measurement of assets in the |
3,935 |
3,935 |
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statement of financial position |
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1. No change in valuation technique occurred during the period |
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Recurring and non-recurring Level 3 fair value measurements - valuation process |
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AAFCANS revalued their assets through an independent valuer in the 2016-2017 Financial Year |
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No valuation was completed in the current year instead a desktop valuation was performed to |
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determine fair value. |
Visit
https://www.transparency.gov.au/annual-reports/army-and-air-force-canteen-service/reporting-year/2018-2019-44