NIIF 13 Valor Razonable

Summary: NIIF 13 — Fair Value

The video explains how NIIF 13 (IFRS 13) established a unified framework for measuring fair value and why that framework matters for financial reporting.

Why the standard was introduced

Before NIIF 13, different accounting standards used different definitions and rules for fair value. This made financial statements harder to compare and reduced transparency. In May 2011, the International Accounting Standards Board (IASB) published NIIF 13 to establish a common approach.

What fair value means

Fair value is an exit price: the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction. It differs from the entry price—the amount originally paid to acquire something.

Fair value reflects the market’s perspective, not a company’s plans for an asset or the benefits it expects to gain from using it internally.

Elements considered when measuring fair value

The video highlights four considerations:

• The asset or liability: Account for relevant characteristics, such as its condition and location.
• An orderly transaction: The sale or transfer should not be forced or rushed, allowing time to find a suitable buyer.
• Market participants: The parties are assumed to be independent and informed.
• The relevant market: The price should be based on the principal market—the market with the greatest activity for that asset or liability.

The fair value hierarchy

The hierarchy indicates the quality and objectivity of the inputs used in a valuation, not the mathematical formula itself. It has three levels:

• Level 1 — Most objective: Quoted market prices for identical assets or liabilities, such as the observable price of a publicly traded share.
• Level 2 — Observable but indirect: Other market data, such as interest rates or prices for similar assets.
• Level 3 — Least objective: Unobservable inputs, including company-generated projections and estimates, which rely more heavily on assumptions.

The more a measurement relies on unobservable inputs, the more judgment and estimation it involves.

Why NIIF 13 matters

By providing a shared framework, NIIF 13 supports greater consistency and comparability between companies. Its disclosure requirements also require companies to explain how they arrived at their fair-value measurements. Together, these features can improve transparency and help build trust among investors, regulators, and analysts.

The video concludes that the hierarchy offers a practical way to communicate how reliable a valuation is, while noting that measuring fair value remains challenging as markets and data change.

Speakers and sources featured

• Speaker: A single narrator; no interviewees or additional speakers are identified.
• Sources cited or referenced: NIIF 13 / IFRS 13, including paragraphs 2 and 9, and the International Accounting Standards Board (IASB).