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
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| 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 |
