Of the Fair value, internationally as Fair value is a measurement standard from the German Commercial Code (HGB) and the International Financial Reporting Standards (IFRS). It represents the price that would be realised for the sale of an asset or paid for the transfer of a liability in a normal transaction between independent market participants on the valuation date. It is therefore a fictitious, current market price. While the German Commercial Code is dominated by the acquisition cost principle, fair value is only used in certain cases, for example in the valuation of financial instruments in the trading book at banks or in the valuation of business combinations. It is determined in a three-level hierarchy: priority is given to observable market prices for identical goods, followed by prices for similar goods and finally, if no market prices are available, mathematical valuation models. The complex valuation of assets is a core topic of the Financial statements in SAP Business One. Special valuation requirements can be met by add-ons such as the Versino Financial Suite that enable advanced financial analyses.
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