CA/CPA/Accounting Expert required - Part 1

From 1 January 2013, reporting entities are required to adopt IFRS 13 Fair Value Measurement (AASB 13). This standard provides a single framework for measuring fair value and defines fair value as a market-based measurement rather than an entity-specific measurement. Required: A. Discuss the definition of fair value and outline the main objective of IFRS 13 Fair Value Measurement (AASB 13). In your answer include a discussion on the extent that fair value is used as a measurement technique in accounting. 800 - 1000 words. Suitable freelancers should be able to finish it within 12 hrs.