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8.3.4. Asset classes for disclosure purposes
Publication date: 13 Dec 2021 (updated 01 Feb 2023)
ca Applying IFRS for the real estate industry - 2023 edition
For the purposes of presenting disclosures, entities are required to determine appropriate classes of asset on the basis of the following:
- the nature, characteristics and risks of the asset; and
- the level of the fair value hierarchy in which the fair value measurement is categorised.
The number of classes is expected to be greater for fair value measurements categorised within Level 3 of the fair value hierarchy, because those measurements have a greater degree of uncertainty and subjectivity. Judgement is required for the determination of appropriate classes of investment property for which disclosures about fair value measurements should be provided.
Companies often disaggregate the classes of properties in accordance with their disclosed segments.
Companies might also disaggregate properties on a basis other than their disclosed segments, usually providing more detail compared to the segment reporting information. Quite often, companies disaggregate disclosures by geography, or class of property, or both.
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