【2020年09月02日】讀螞蟻IPO招股書, 了解IFRS準(zhǔn)則-公允價值

2020年8月25日，螞蟻集團(tuán)的A股科創(chuàng)板IPO申請?jiān)诋?dāng)日正式向上交所申報。筆者趕快找來招股說明書（申報稿）（“招股書”）讀，以了解金融科技巨頭的萬億估值生意。在學(xué)ACCA時，記得高頓財(cái)經(jīng)老師有講，國內(nèi)企業(yè)會計(jì)準(zhǔn)則日益趨同IFRS國際財(cái)務(wù)報告準(zhǔn)則,近乎95%的準(zhǔn)則與IFRS準(zhǔn)則的規(guī)定保持一致，在讀招股書時也感受到這一點(diǎn)。本系列文不作財(cái)報分析，僅做搬運(yùn)工，將招股書中闡述的編制螞蟻集團(tuán)財(cái)報遵循的重要會計(jì)政策，列出對應(yīng)的IFRS準(zhǔn)則（非逐句翻譯），供有興趣了解IFRS準(zhǔn)則和學(xué)習(xí)會計(jì)英文術(shù)語的伙伴以參考。

相關(guān)閱讀：
1.讀螞蟻IPO招股書, 了解IFRS準(zhǔn)則-資產(chǎn)減值
2.讀螞蟻IPO招股書, 了解IFRS準(zhǔn)則-外幣折算

招股書第338頁v.s. IFRS13 Fair Value Measurement
公允價值計(jì)量的假設(shè)

公允價值，是指市場參與者在計(jì)量日發(fā)生的有序交易中，出售一項(xiàng)資產(chǎn)所能收到或者轉(zhuǎn)移一項(xiàng)負(fù)債所需支付的價格。
Fair value refers to 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.
公司以公允價值計(jì)量相關(guān)資產(chǎn)或負(fù)債，假定出售資產(chǎn)或者轉(zhuǎn)移負(fù)債的有序交易在相關(guān)資產(chǎn)或負(fù)債的主要市場進(jìn)行；不存在主要市場的，公司假定該交易在相關(guān)資產(chǎn)或負(fù)債的最有利市場進(jìn)行。主要市場（或最有利市場）是公司在計(jì)量日能夠進(jìn)入的交易市場。

公司采用市場參與者在對該資產(chǎn)或負(fù)債定價時為實(shí)現(xiàn)其經(jīng)濟(jì)利益最大化所使用的假設(shè)。以公允價值計(jì)量非金融資產(chǎn)的，考慮市場參與者將該資產(chǎn)用于最佳用途產(chǎn)生經(jīng)濟(jì)利益的能力，或者將該資產(chǎn)出售給能夠用于最佳用途的其他市場參與者產(chǎn)生經(jīng)濟(jì)利益的能力。

IFRS 13 provides the guidance on the measurement of fair value, including the following:

• Fair value measurement assumes an orderly transaction between market participants at the measurement date under current market conditions [IFRS 13:15]
  
• Fair value measurement assumes a transaction taking place in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability [IFRS 13:24]
  
• A fair value measurement of a non-financial asset takes into account its highest and best use [IFRS 13:27]
  
• The fair value of a liability reflects non-performance risk, including an entity s own credit risk and assuming the same non-performance risk before and after the transfer of the liability [IFRS 13:42]
  
  
  

公允價值計(jì)量的層次
  
在財(cái)務(wù)報表中以公允價值計(jì)量或披露的資產(chǎn)和負(fù)債，根據(jù)對公允價值計(jì)量整體而言具有重要意義的最低層次輸入值，確定所屬的公允價值層次：
If the inputs used to measure fair value are categorised into different levels of the fair value hierarchy, the fair value measurement is categorised in its entirety in the level of the lowest level input that is significant to the entire measurement (based on the application of judgement). [IFRS 13:73]

• 第一層次輸入值，在計(jì)量日能夠取得的相同資產(chǎn)或負(fù)債在活躍市場上未經(jīng)調(diào)整的報價；
  
  Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the entity can access at the measurement date. [IFRS 13:76]
  A quoted market price in an active market provides the most reliable evidence of fair value and is used without adjustment to measure fair value whenever available, with limited exceptions. [IFRS 13:77]
  
  

• 第二層次輸入值，除第一層次輸入值外相關(guān)資產(chǎn)或負(fù)債直接或間接可觀察的輸入值；
  Level 2 inputs are inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly [IFRS 13:81]. Level 2 inputs include:
  o quoted prices for similar assets or liabilities in active markets;
  o quoted prices for identical or similar assets or liabilities in markets that are not active;
  o inputs other than quoted prices that are observable for the asset or liability;
  o inputs that are derived principally from or corroborated by observable market data by correlation or other means ( market-corroborated inputs ).
  
  

• 第三層次輸入值，相關(guān)資產(chǎn)或負(fù)債的不可觀察輸入值。
  Level 3 inputs are unobservable inputs for the asset or liability. [IFRS 13:86]
  Unobservable inputs are used to measure fair value to the extent that relevant observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. [IFRS 13:87-89]
  
  

招股書第374頁披露的公允價值損益如下：

2017 年度、2018 年度、2019 年度和2020 年1-6 月，公司公允價值損益分別為-19.71 億元、-55.89 億元、11.12 億元和-30.28 億元，占營業(yè)收入的比例分別為-3.01%、-6.52%、0.92%和-4.18%，達(dá)到重要性(materiality)水平。
  
尤其2018年“以公允價值計(jì)量且其變動計(jì)入當(dāng)期損益的金融資產(chǎn)公允價值變動”高達(dá)57.22億元。此類金融資產(chǎn)列報為交易性金融資產(chǎn)，再看招股書第303頁披露的交易性金融資產(chǎn)，當(dāng)年金額為113.56億元，跌去一半價值。具體原因，招股書中未作解釋，但倒是與2018年熊市的宏觀環(huán)境相呼應(yīng)。