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A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market. Many factors go into determining it, including location, size, age, condition and the ...
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting.Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.
Topic 820 emphasizes the use of market inputs in estimating the fair value for an asset or liability. Quoted prices, credit data, yield curve, etc. are examples of market inputs described by Topic 820. Quoted prices are the most accurate measurement of fair value; however, many times an active market does not exist so other methods have to be ...
Second, FAS 157 emphasizes that fair value is market-based rather than entity-specific. Thus, the optimism that often characterizes an asset acquirer must be replaced with the skepticism that typically characterizes a dispassionate, risk-averse buyer. FAS 157's fair value hierarchy underpins the concepts of the standard.
The 2007 edition of International Valuation Standards (IVS 2007) re-states the International Financial Reporting Standards definition of 'value-in-use', which would allow for either a higher value than market value or a lower value than market value: Value in Use The present value of the future cash flows expected to be derived from an asset or ...
The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies.
Value-in-use, or use value [2] – the net present value (NPV) [3] of a cash flow that an asset generates for a specific owner under a specific use. Value-in-use is the value to one particular user, and may be above or below the market value of a property. Investment value – the value to one particular investor, and may or may not be higher ...
Marx's concept of use-value seems akin to, but in reality differs from the neoclassical concept of utility: Marx usually assumes in his analysis that products sold in the market have a use-value to the buyer, without attempting to quantify that use-value other than in product units of price, and commodity value. (this caused some of his readers ...