Replacement cost and market value – do they still have a place in the IPSASB’s literature?

The IPSASB’s ED 77 on Measurement, proposes the use of the cost approach and the market approach as measurement techniques. As a result do you agree with the proposed deletion of the following measurement bases from the Conceptual Framework:

• Market value—for assets and liabilities; and
• Replacement cost—for assets?

If not, which would you retain and why?

Read more here: https://www.asb.co.za/ed-188/