Current value:
- Fair value: The price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.
- Value in use: The present value of cashflows, or other economic benefit, that an entity expects to derive from the use of an asset and from its ultimate disposal.
- Fulfilment value: The present value of cash, or other economic resources, that an entity expects to be obliged to transfer as it fulfils a liability.
- Current cost of an asset: The cost of an equivalent asset at the measurement date, comprising the consideration that would be paid the measurement date plus the transaction costs that would be incurred at that date.
- Current cost of liability: The consideration that would be received for an equivalent liability at the measurement date minus the transaction costs that would be incurred at that date.