Highest and best use – IFRS 13

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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August 20, 2020 at 7:20 pm #581327
akka17bakka
Participant
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Hi Tutor,
Could you kindly explain what IFRS 13 means ( regarding Non Financial assets) higest and best use?
Thank you.
August 21, 2020 at 5:29 pm #581435
Stephen Widberg
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Imagine that you own a house.
The value of the house is 100 if it continues to be used as a house.
The value of the house is 150 if I sell it to a supermarket who plans to knock it down and replace it with a superstore.
Highest and best use would be 150
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