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Current value

Current value is a measurement based on conditions at the measurement date rather than solely on the original transaction price. The Conceptual Framework describes different current-value bases, including fair value, value in use or fulfilment value and current cost. An increase in a measured amount is not automatically profit: presentation depends on the relevant measurement requirement and the nature of the item.

Worked example

An asset measured at fair value is updated to reflect market conditions at the measurement date.

Common mistake

Treating every current-value basis as identical to fair value.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA FA Direct September 2026–June 2027
ACCA FR Direct September 2026–June 2027
ACCA K1 Direct July 2027–August 2028
FIA FFA Direct September 2026–June 2027

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