1. Definition of Measurement Basis /计量基础的定义
2. Classification of Measurement Bases/计量基础的分类
2.1 Historical Cost/历史成本
Historical cost measures (5) provide monetary information about assets, liabilities and related income and expenses, using information derived, at least in part, from (6) the price of the transaction or other event that gave rise to (7) them. Unlike current value (8), historical cost does not reflect changes in values, except to the extent that (9) those changes relate to impairment (10) of an asset or a liability becoming onerous (11).
The historical cost of an asset when it is acquired or created is the value of the costs incurred in acquiring or creating the asset, comprising the consideration (12) paid to acquire or create the asset plus transaction costs. The historical cost of a liability when it is incurred or taken on is the value of the consideration received to incur or take on the liability (13) minus transaction costs.
2.2 Current Value/现行价值
Current value measures (14) provide monetary information about assets, liabilities and related income and expenses, using information updated (15) to reflect conditions at the measurement date (16). Because of the updating (15), current values of assets and liabilities reflect changes, since the previous measurement date, in estimates of cash flows and other factors reflected in those current values. Unlike historical cost, the current value of an asset or liability is not derived, even in part, from the price of the transaction or other event that gave rise to the asset or liability.
Current value measurement bases include:
(a) fair value (17);
(b) value in use (18) for assets and fulfilment value (19) for liabilities; and
(c) current cost (20).
(1) Fair Value/公允价值
Fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction (21) between market participants (22) at the measurement date. Fair value reflects the perspective (23) of market participants—participants in a market to which the entity has access (24). The asset or liability is measured using the same assumptions that market participants would use when pricing the asset or liability if those market participants act in their economic best interest (25).
(2) Value in Use and Fulfilment Value/使用价值和履约价值
Value in use is the present value (26) of the cash flows, or other economic benefits, that an entity expects to derive from the use of an asset and from its ultimate disposal. Fulfilment value is the present value of the cash, or other economic resources, that an entity expects to be obliged to (27) transfer as it fulfils a liability (28). Those amounts of cash or other economic resources include not only the amounts to be transferred to the liability counterparty (29), but also the amounts that the entity expects to be obliged to transfer to other parties to enable it to fulfil the liability. Because value in use and fulfilment value are based on future cash flows, they do not include transaction costs incurred on acquiring an asset or taking on a liability. However, value in use and fulfilment value include the present value of any transaction costs an entity expects to incur on the ultimate disposal (30) of the asset or on fulfilling the liability.
(3) Current Cost/现行成本
The current cost of an asset is the cost of an equivalent asset (31) at the measurement date, comprising the consideration that would be paid at the measurement date plus the transaction costs that would be incurred at that date. The current cost of a liability is the consideration that would be received for an equivalent liability at the measurement date minus the transaction costs that would be incurred at that date. Current cost, like historical cost, is an entry value (32): it reflects prices in the market in which the entity would acquire the asset or would incur the liability. Hence, it is different from fair value, value in use and fulfilment value, which are exit values (33). However, unlike historical cost, current cost reflects conditions at the measurement date.
3. Key Words and Expressions/重要词汇与表达