Fair value reserve definition
Fair value reserve means a reappraisal of land in accordance with earlier accounting principles. The reappraisal value is adopted as the acquisition value in accordance with the transition rules in IFRS 1.
Examples of Fair value reserve in a sentence
The impact of adopting AC 133 is shown below: Impact on opening reserves – net of taxation Distributable reserve Fair value reserve Total R’m R’m R’m Opening balance 31 March 2003 790.1 – 790.1 1.