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Measurement

Non-Exchange Revenue Transactions

AG114. The initial recognition and measurement of assets and liabilities resulting from non-exchange revenue transactions is dealt with in PBE IPSAS 23. Assets resulting from non-exchange revenue transactions can arise out of both contractual and non-contractual arrangements (see PBE IPSAS 28 paragraphs AG20 and AG21). Where these assets arise out of contractual arrangements and otherwise meet the definition of a financial instrument, they are:

(a) Initially recognised in accordance with PBE IPSAS 23;

(b) Initially measured:

(i) At fair value using the principles in PBE IPSAS 23; and

(ii) Taking account of transaction costs that are directly attributable to the acquisition of the financial asset in accordance with paragraph 57 of this Standard, where the asset is subsequently measured other than at fair value through surplus or deficit.

Initial Measurement

 

Initial Measurement of Financial Assets and Financial Liabilities (paragraphs 57–59)Concessionary LoansEquity Instruments Arising from Non-Exchange TransactionsValuing Financial Guarantees Issued Through a Non-Exchange TransactionInvestments in Equity Instruments and Contracts on Those InvestmentsFair Value Measurement ConsiderationsActive Market: Quoted PriceNo Active Market: Valuation TechniqueInputs to Valuation TechniquesEffective Interest MethodTransaction CostsWrite-offCollective and Individual Assessment BasisTiming of Recognising Lifetime Expected Credit LossesDetermining Whether Credit Risk has Increased Significantly since Initial RecognitionModificationsExpected Credit LossesDefinition of DefaultPeriod over Which to Estimate Expected Credit LossesProbability-weighted OutcomeTime Value of MoneyReasonable and Supportable InformationCollateralLiabilities Designated as at Fair Value Through Surplus or DeficitDesignation of Hedging InstrumentsQualifying ItemsDesignation of Hedged ItemsHedge EffectivenessEconomic Relationship Between the Hedged Item and the Hedging InstrumentThe Effect of Credit RiskHedge RatioFrequency of Assessing Whether the Hedge Effectiveness Requirements are MetMethods for Assessing Whether the Hedge Effectiveness Requirements are MetMeasurement of Hedge IneffectivenessRebalancing the Hedging Relationship and Changes to the Hedge RatioDiscontinuation of Hedge AccountingAccounting for the Time Value of OptionsAccounting for the Forward Element of Forward Contracts and Foreign Currency Basis Spreads of Financial InstrumentsLayers of Groups of Items Designated as the Hedged ItemPresentation of Hedging Instrument Gains or Losses