The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Source: Financial Accounting Standards Board Accounting Standards Codification Topic 820 (ASC 820)
The underlying theme and elements of the definitions presented here are based in standard appraisal theory. Many terms are used to describe various thoughts or premises of value.
These definitions are offered to provide fundamental value concepts – they are not the only acceptable definitions available. Contracts or jurisdictions may dictate somewhat different philosophies; therefore, these definitions may be expanded or refined as the purpose and function of an appraisal dictate, as long as the fundamental concepts are not altered. In some cases, the laws of a country, state, region, or regulatory agency may require other terms, which would take precedence over the definitions shown here.
出典：ASA
✅ ポイント解説
鑑定はかせこれは会計上の公正価値（Fair Value）の定義じゃな
REIちゃんASAは色々と細かくFMV（Fair Market Value）を定義しているけど、FV（Fair Value）はそれらを包含するような広い概念みたいだね。
- 「秩序ある取引」(orderly transaction)
→ 強制売却や清算のような異常な状況ではなく、通常の市場取引を前提とする。 - 「市場参加者」(market participants)
→ 特定の会社や当事者ではなく、一般的な市場における合理的な参加者を想定する。 - 「資産を売却」「負債を移転」
→ Fair Value は資産側だけでなく負債側にも適用される（IFRSと同様）。