Note 12: Aministered - Fair Value Measurements
Note 12: Fair Value Measurements | ||
Fair value measurement at the end of the reporting period | ||
2020 | 2019 | |
$ | $ | |
Non-financial assets | ||
Land | 102,000,000 | 102,000,000 |
Buildings | 47,945,431 | 46,608,628 |
Other property, plant and equipment | 1,568,922 | 1,615,089 |
Total non-financial assets | 151,514,353 | 150,223,717 |
Total fair value measurements of assets in the statement of financial position | 151,514,353 | 150,223,717 |
In accordance with AASB 13 the fair value of land and buildings and property, plant and equipment has been taken to be the market price of similar properties and assets as determined by an independent valuer. In some instances, the Office's buildings are purpose built and may in fact realise more or less in the market.
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