The price (entry price) that would be paid to buy an asset or transfer a liability in an orderly transaction between market participants at the measurement date. This price reflects market participants’ expectations of the price to be paid to acquire the asset or transfer the liability in its present state and under the current market circumstances. Current entry price is the monetary amount or other consideration that would be paid to obtain an asset (or the same asset being replaced) or its equivalent in the market.

For asset replacement, the current entry price is the price estimated when an asset is being replaced, in which case it is the replacement cost of an asset.