How does this project fit with the others?

The fair value measurement project is separate from the measurement phase of the conceptual framework project and the financial instruments project on Reducing Complexity in Reporting Financial Instruments, although the three are related.

The objective of the fair value measurement project is to develop a single IFRS that provides ‘how-to’ guidance for measuring fair value when another IFRS requires or permits the use of fair value. The fair value measurement project will not expand the use of fair value in financial reporting.

The measurement phase of the conceptual framework project seeks to provide the Board a better understanding of why a particular measurement basis should be used in a given circumstance. Thus, the Board will be able to determine which measurement basis to apply in a particular IFRS.

The project on reducing complexity in reporting financial instruments focuses on when fair value should be used for financial instruments.