Measurement Basis - created from Mind Map

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Historical Cost

Current Cost

Net Realisable (Settlement) Value

Present Value

Original Cost

Assets - Recorded at the amount paid (or fair value of the consideration given) at time of transaction

Liabilities - Recorded at the amount of proceeds received/ amount of cash expected to be paid

Cost in the Current Market

Assets - amount of cash that would have been paid if it is acquired currently

Liabilities - undiscounted amount of cash that is required to settle the obligation currently.

Realisable Value

Settlement Value

amount that could currently be obtained by selling asset in orderly disposal

undiscounted amount of cash that should be paid to satisfy liabilites in the normal course of business

current estimate of discounted value of future cash flows