IFRS 7 requires an entity to disclose the fair value for each class of financial assets and financial liabilities so that it can be compared with its carrying amount.

Question

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IFRS 7 requires disclosure of fair value for each class of financial assets and liabilities to allow users to evaluate the basis for the fair value measurement and to compare it with its carrying amount on the balance sheet.

IFRS 7 Requires an Entity to Disclose the Fair Value