Glossary
Fair Value
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at a given date, rather than the price it might fetch in a forced sale. It is the measurement basis Canadian accounting standards require whenever a figure in the financial statements has no ready market price of its own, including goodwill, purchase price allocations and stock-based compensation. Our valuation for financial reporting guide covers how the standard applies in practice.
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