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 Valuation Services - Financial Reporting

 

Key Valuation

Topics:



 International Accounting

  Standards Board (IASB)

 AASB 116 – Property,

  Plant and Equipment

 IAS 16 – Property, Plant

  and Equipment

 AASB 136 Impairment of

  Assets

 Fair Value

 International Financial

  Reporting Standards (IFRS)

 Financial Accounting

  Standards Board (FASB)

 United States generally

  accepted accounting

  principles (US GAAP)

 Remaining life

  assessments

 

 

 

 

Financial                Mergers/Acquisitions               Taxation               Leasing/Finance               Insurance

Litigation                Asset Registers




Plant and Machinery Valuation


Financial Reporting Valuations


Companies complying with International Financial Reporting Standards are required to report their financial position in a transparent manner so that property, plant and equipment are consistently stated at fair value. Supportable and cost effective plant and machinery valuation information enables your accountants to accurately and efficiently prepare your financial statements in compliance with IAS 16 and AASB 116 Property, Plant and Equipment and AASB136 impairment of assets.


IAS16 and AASB116 Property, Plant and Equipment:  Measurement of fixed assets at Fair Value


The objective of IAS 16 is to prescribe the accounting treatment for property, plant, and equipment. The principal issues are the timing of recognition of assets and the determination of their carrying amounts in accordance with fair value guidelines.


AASB136 Impairment of Assets


AASB 136 requires an entity to make a realistic assessment of the future economic environment and its ability to recover its investments in tangible and intangible assets at each period end date. The spirit of the standard is to ensure that assets are not carried in the balance sheet at an amount above what the entity expects to recover from the assets future use.