Ind AS-113 Fair Value Measurement 

Ind AS-113 Fair Value Measurement delineates the concept of fair value within Indian Accounting Standards (Ind AS). It mandates fair value measurement or remeasurement for most aspects of financial reporting. The standard defines fair value, prescribes its determination, and justifies its necessity. It provides a unified framework for measurement and insists on disclosures about fair value. Exceptions include specific transactions like share-based payments and leasing, or measurements akin to fair value but not categorized as such. Fair value, according to the standard, represents the price in an orderly transaction between market participants. Valuation techniques, including market, cost, and income approaches, are outlined, along with a fair value hierarchy for inputs. Disclosure requirements aid users in understanding asset and liability valuations.