The definitions for Fair Value are similar under both IFRS and US GAAP:
IFRS: Fair value is the amount for which an asset could be exchanged, or a liability settled between knowledgeable, willing parties in an arm’s length transaction. Fair value excludes transaction costs.
US GAAP: Under U.S. GAAP fair value is defined as the price that [...]
Fair Value Definition under IFRS and US GAAP
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