Building a Global Valuation Expertise
|
|
- Adam Thornton
- 5 years ago
- Views:
Transcription
1 Building a Global Valuation Expertise Session 1.3 Doug McPhee CA I CBV Partner & Global Head of Valuation Services Professional Board Member - IVSC
2 Impairment Testing Overview IAS 36 paragraph 18: Recoverable Amount ( RA ) is the higher of Fair Value Less Cost to Sell ( FVLCTS ) and Value in Use ( VIU ) of an asset or Cash Generating Unit ( CGU ) Estimate RA FVLCTS VIU IAS 36 paragraph 18: Recoverable Amount ( RA ) is the higher of Fair Value Less Cost to Sell ( FVLCTS ) and Value in Use ( VIU ) of an asset or Cash Generating Unit ( CGU ) IAS 36 paragraph 19: Not always necessary to determine both an asset s FVLCTS and its VIU; if either of these are greater than CA then the asset is not impaired IAS 36 paragraph 20: It may be possible to determine FVLCTS even if an asset is not traded in an active market. If no reliable estimate is obtainable the entity may use VIU as its RA expected to be derived from an asset or CGU IAS 36 paragraph 21: For assets held for disposal, an asset s VIU will not materially exceed its FVLCTS, as VIU will mainly consist of the net disposal proceeds 2
3 Impairment testing FVLCTS Key issue is whether the resulting FVLCTS is a reliable estimate of the amount at which the asset could be sold to a third party Multiples Approach Basis: - Comparable listed companies - Comparable recent transactions - Do buyer specific synergies increase fair value - Consider whether any control premium is appropriate DCF Approach Cost To Sell Can only be used if: - Is common valuation practice in the industry - Cash flows are only those that a market participant would take into account when assessing fair value (both in regards to type and amount of cash flow) - A market participant discount rate is applied IAS 36 paragraph 28 3
4 Impairment testing VIU Excludes future restructurings not yet committed to or enhancement of assets Best estimate of economic conditions that will exist over life of the asset... Estimating the future cash inflows and outflows to be derived from continuing use of the asset and from its ultimate disposal Justifiable long term growth Cash flows prefinancing and pretax Future cash flows for VIU Maximum period of 5 years, unless longer can be justified Greater weight given to external evidence Reasonable and supportable assumptions Most recent approved budgets/ forecasts 4
5 Impairment Testing Discount Rate... IAS 36 requires a pre-tax discount rate IAS 36 Requires VIU to be determined using pre-tax cash flows and a pre-tax discount rate In practice WACC is estimated on a post-tax basis, therefore it is more common to use post-tax cash flows and a post-tax discount rate In theory Solution Discounting post-tax cash flows at a post-tax rate and discounting pre-tax cash flows at a pre-tax discount rate should give the same result Starting point should be the value on the post-tax basis - the implied pre-tax discount rate is estimated by back-solving using pre-tax cash flows and the value implied by the post-tax VIU 5
6 Impairment Testing Example Indicators Significant decline in market value Technological, market, legal environment Market cap < Book values Increased interest rates External sources Change in use of asset Obsolescence or physical damage Planned disposal / restructuring Performance of assets declining Internal sources 6
7 Impairment Testing Other Considerations? How do the forecasts compare to those used in previous tests and at acquisitions? Do the overall cash flows and terminal growth assumptions make sense? How do actual results compare to budget?? How does the top-line growth compare to the relevant market growth Are there any unusual / unexpected fluctuations or adjustments in the cash flows? Has transfer pricing been appropriately dealt with? What is driving expected growth, and is this reasonable 7
8 Impairment Testing Market Issues 8
Leases. (a) the lease transfers ownership of the asset to the lessee by the end of the lease term.
Leases 1.1. Classification of leases A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. A lease is classified as an operating lease
More informationCONTACT(S) Raghava Tirumala +44 (0) Woung Hee Lee +44 (0)
IASB Agenda ref 18A STAFF PAPER IASB Meeting Project Paper topic Goodwill and Impairment research project Summary of discussions to date CONTACT(S) Raghava Tirumala rtirumala@ifrs.org +44 (0)20 7246 6953
More information(a) Assets arising from construction contracts (see Section 23 of FRS 102, Revenue); and
Impairment of assets 14.1 This section sets out the considerations for social landlords in assessing impairment of assets, which is dealt with in Section 27 of FRS 102, Impairment of Assets. 14.2 Social
More informationIntangible Assets IAS 38, IAS 36, IFRS 3
Intangible Assets IAS 38, IAS 36, IFRS 3 Agenda 1. Introduction 2. Recognition 3. Measurement 4. Impairment of intangible assets (IAS 36) Basic concept Cash-Generating Units 5. Disclosures 2 1 Introduction
More informationApplying IFRS. Impairment considerations for the new leasing standard. November 2018
Applying IFRS Impairment considerations for the new leasing standard November 2018 Contents Overview 3 1. Impairment of right-of-use assets 1.1 When to test for impairment 1.2 Treatment of lease liabilities
More informationIAS 38 Intangible Assets
21/12/2010, Tuesday From To Details Faculty 2:15 PM 5:30 PM IAS 38 : Intangible Assets IAS 40 : Investment Property IFRS 5 : Non Current Assets Held for Sale and Discontinued Operations CA. Chintan Patel,
More informationGoodwill and Impairment research project Possible simplifications to the impairment testing model in IAS 36 Impairment of Assets
IASB Agenda ref 18C STAFF PAPER IASB Meeting Project Paper topic Goodwill and Impairment research project Possible simplifications to the impairment testing model in IAS 36 Impairment of Assets CONTACT(S)
More informationOur detailed comments and responses to the three questions raised in the DP are set out in the Appendix.
C/O KAMMER DER WIRTSCHAFTSTREUHÄNDER SCHOENBRUNNER STRASSE 222 228/1/6 A-1120 VIENNA AUSTRIA Mr Jean-Paul Gauzes European Financial Reporting Advisory Group (EFRAG) 35 Square de Meeûs B-1000 Brussels Belgium
More information(a) objectives and scope of the research project; paragraphs 2 9. (b) summary of discussions to date; paragraphs 10 14
IASB Agenda ref 18A STAFF PAPER IASB Meeting Project Paper topic Goodwill and Impairment research project Summary of discussions to date October 2017 CONTACT(S) Raghava Tirumala rtirumala@ifrs.org +44
More informationGOODWILL IMPAIRMENT TEST: CAN IT BE IMPROVED?
GOODWILL IMPAIRMENT TEST: CAN IT BE IMPROVED? EFRAG DISCUSSION PAPER JUNE 2017 ASAF meeting, September 2017 Agenda paper 5A 2017 European Financial Reporting Advisory Group. This Discussion Paper is issued
More information17 July International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom. Dear Sir/Madam
Organismo Italiano di Contabilità OIC (The Italian Standard Setter) Italy, 00187 Roma, Via Poli 29 Tel. 0039/06/6976681 fax 0039/06/69766830 e-mail: presidenza@fondazioneoic.it 17 July 2014 International
More informationStatutory Issue Paper No. 23. Property Occupied by the Company. STATUS Finalized March 16, 1998
Statutory Issue Paper No. 23 Property Occupied by the Company STATUS Finalized March 16, 1998 Original SSAP: SSAP No. 40; Current Authoritative Guidance: SSAP No. 40R Type of Issue: Common Area SUMMARY
More informationFair value implications for the real estate sector and example disclosures for real estate entities. Applying IFRS in Real Estate
Applying IFRS in Real Estate IFRS 13 Fair Value Measurement Fair value implications for the real estate sector and example disclosures for real estate entities January 2013 Contents Introduction... 2 Section
More informationIND AS 38 Intangible Assets. By Hanmandas Bajaj B.Com; ACA, LLB
IND AS 38 Intangible Assets By Hanmandas Bajaj B.Com; ACA, LLB IAS 38:Intangible Assets Agenda Objective and Scope Key Definitions Recognition and Measurement Disclosures IND AS vs IFRS Objective of IND
More informationIAS 40 Investment Property
IAS 40 Investment Property Scope Applies in the: recognition, measurement and disclosure of investment property measurement in a lessee s financial statements of investment property interests held under
More informationF.18. New Zealand. Railways Corporation STATEMENT OF CORPORATE INTENT
New Zealand F.18 Railways Corporation STATEMENT OF CORPORATE INTENT 2017-2019 This Statement of Corporate Intent (Statement) is submitted by the Board of New Zealand Railways Corporation (the Corporation)
More informationIMPAIRMENT TESTING OF LONG-LIVED ASSETS TO BE HELD AND USED
IMPAIRMENT TESTING OF LONG-LIVED ASSETS TO BE HELD AND USED Prepared by: Rick Day, Partner, National Director of Accounting, RSM US LLP rick.day@rsmus.com, +1 563 888 4017 TABLE OF CONTENTS Introduction...
More informationImproving effectiveness of the impairment testing model in IAS 36 Impairment of Assets
Agenda ref 18C STAFF PAPER IASB Meeting Project Paper topic Goodwill and Impairment research project December 2017 Improving effectiveness of the impairment testing model in IAS 36 Impairment of Assets
More informationMateriële Vaste Activa. 27 September 2005 Pearl Couvreur
Materiële Vaste Activa 27 September 2005 Pearl Couvreur P w C Contents 1. Principle 2. Acquisition cost 3. Subsequent costs 4. Borrowing costs 5. Assets acquired in a business combination 6. Revaluation
More informationChapter 3 Business Valuation Report
CHAPTER 3: BUSINESS VALUATION REPORT Chapter 3 Business Valuation Report A1. Pre-IPO Valuation Need Company Restructuring and Financing It is not unusual that companies undergo series of restructuring
More informationbrief introduction to the research projects (paragraphs 5 7); and
STAFF PAPER FASB IASB Meeting Project Paper topic Goodwill and Impairment research project Cover paper June 2018 This paper has been prepared for discussion at a public educational meeting of the US Financial
More informationMELBOURNE UNIVERSITY INTERMEDIATE FINANCIAL ACCOUNTING 2017 ACCT20002 Notes written by Megan Cheung
MELBOURNE UNIVERSITY INTERMEDIATE FINANCIAL ACCOUNTING 2017 ACCT20002 Notes written by Megan Cheung Topics Covered - Reporting Regulation and conceptual Framework - Accounting for Asset Acquisition - Measure
More informationFinancial reporting standards: is market value for the existing use now obsolete?
The research register for this journal is available at http://www.mcbup.com/research_registers/jpif.asp The current issue and full text archive of this journal is available at http://www.emerald-library.com
More informationAn intangible asset is an identifiable non-monetary asset without physical substance.
Technical Summary This extract has been prepared by IASC Foundation staff and has not been approved by the IASB. For the requirements reference must be made to International Financial Reporting Standards.
More informationAccounting for tangible fixed Assets
Accounting for tangible fixed Assets Fixed assets are used (not consumed) in operations of a business provide benefits beyond the current accounting period Fixed assets are either acquired or self constructed
More informationEN Official Journal of the European Union L 320/373
29.11.2008 EN Official Journal of the European Union L 320/373 INTERNATIONAL FINANCIAL REPORTING STANDARD 3 Business combinations OBJECTIVE 1 The objective of this IFRS is to specify the financial reporting
More informationClassify and describe basic forms of real estate investments.
LOS 43.a 2017 CFA Exam SS 15 Classify and describe basic forms of real estate investments. Card 1 of 52 LOS 43.a There are four basic forms of real estate investment; private equity (direct ownership),
More informationTHE ART OF BUSINESS VALUATION
BUSINESS VALUATIONS GROWING THE ART OF BUSINESS VALUATION Douglas A. Michel, CPA/ABV, CVA & Alex E. Kummer, CPA, CVA, Clark Schaefer Hackett THE VALUE OF YOUR BUSINESS Steve Lumley, LGI CFO BUY SELL AGREEMENTS
More informationIFRS Training. IAS 38 Intangible Assets. Professional Advisory Services
IFRS Training IAS 38 Intangible Assets Table of Contents Section 1 Overview 2 Introduction to Intangible Assets 3 Recognition and Initial Measurement 4 Internally Generated Intangible Assets 5 Measurement
More informationEITF Issue No EITF Issue No Working Group Report No. 1, p. 1
EITF Issue No. 03-9 The views in this report are not Generally Accepted Accounting Principles until a consensus is reached and it is FASB Emerging Issues Task Force Issue No. 03-9 Title: Interaction of
More informationCENTRAL GOVERNMENT ACCOUNTING STANDARDS
CENTRAL GOVERNMENT ACCOUNTING STANDARDS NOVEMBER 2016 STANDARD 4 Requirements STANDARD 5 INTANGIBLE ASSETS INTRODUCTION... 75 I. CENTRAL GOVERNMENT S SPECIALISED ASSETS... 75 I.1. The collection of sovereign
More informationMeet Definition of. Be investment property. & Follow FV Model. Earn Rentals
Meet Definition of Requirements It s Property Held to Use in Production Process Or Admin Purpose Earn Capital Appreciation Earn Rentals & Follow Model Instead of And Available on Property By Property Basis
More informationCL04. TEG Chair Dear Ms. Flores, DP ). FEE welcomes. of the. option. approaches.
Ms. Françoise Flores TEG Chair EFRAG Square de Meeûs M 35 B-1000 BRUXELLES E-mail: commentletters@ @efrag.org 19 September 2014 Ref.: ACC/AKI/HBL/PPA/SRO Dear Ms. Flores, Re: FEE comments on EFRAG s,,
More informationComment Letter 16 from the National Association of Romanian Valuers, ANEVAR
Comment Letter 16 from the National Association of Romanian Valuers, ANEVAR Comments on the Exposure Draft Proposed New International Valuation Standards, published June 2010 Email: CommentLetters@ivsc.org
More informationIFRS - 3. Business Combinations. By:
IFRS - 3 Business Combinations Objective 1. The purpose of this IFRS is to specify to disclose financial information by an entity when carrying out a business combination. In particular, specifies that
More informationInternational Financial Reporting Standards. Sample material
International Financial Reporting Standards Sample material Always in context guiding you all the way with summaries key points, diagrams and definitions REVENUE RECOGNITION CHAPTER CONTENTS The provisions
More informationHousing SORP consultation revised guidance on impairment
Deloitte LLP 2 New Street Square London EC4A 3BZ Tel: +44 (0) 20 7936 3000 Fax: +44 (0) 20 7583 1198 www.deloitte.co.uk Direct: 0207 007 0884 Direct fax: 020 7007 0158 vepoole@deloitte.co.uk Joseph Carr
More informationCONSULTATION DRAFT SMALL AND MEDIUM-SIZED ENTITY FINANCIAL REPORTING STANDARD (SME-FRS) CONTENTS
CONSULTATION DRAFT SMALL AND MEDIUM-SIZED ENTITY FINANCIAL REPORTING STANDARD (SME-FRS) CONTENTS Section Definitions 1 Presentation of Financial Statements 2 Accounting Policies 3 Property, Plant and Equipment
More informationTemporary exemption from IAS 8 paragraphs 11 and 12
International Financial Reporting Standard 6 Exploration for and Evaluation of Mineral Resources Objective 1 The objective of this IFRS is to specify the financial reporting for the exploration for and
More informationInternational Valuation Standards Update
International Valuation Standards Update Adam Smith Interim Technical Director of Business Valuation Standards OIV International Business Valuation Conference January 16, 2017 INTERNATIONAL VALUATION STANDARDS
More informationIAS 40. Definition. Examples. Investment property. Investment Property. Examples of investment property
IAS 40 Investment property Definition Investment Property Investment property is property held by the owner to earn rentals or for capital appreciation or both. 2 Examples Examples of investment property
More informationImpairment or disposal of longlived
Financial reporting developments A comprehensive guide Impairment or disposal of longlived assets Revised December 2017 To our clients and other friends ASC 360-10, Impairment and Disposal of Long-Lived
More informationroots The Substance of the Standard Contents Changes to the Accounting for Goodwill for Private Companies
The Substance of the Standard MAYER HOFFMAN MCCANN P.C. AN INDEPENDENT CPA FIRM TM A publication of the Professional Standards Group February 2014 Changes to the Accounting for Goodwill for Private Companies
More informationTECHNICAL INFORMATION PAPER - VALUATIONS OF REAL PROPERTY, PLANT & EQUIPMENT FOR USE IN AUSTRALIAN FINANCIAL REPORTS
TECHNICAL INFORMATION PAPER - VALUATIONS OF REAL PROPERTY, PLANT & EQUIPMENT FOR USE IN AUSTRALIAN FINANCIAL REPORTS Reference ANZVTIP 8 Valuations of Real Property, Plant & Equipment for Use in Australian
More informationBuild Toronto Inc. Consolidated Financial Statements December 31, 2015
Consolidated Financial Statements May 10, 2016 Independent Auditor s Report To the Shareholder of Build Toronto Inc. We have audited the accompanying consolidated financial statements of Build Toronto
More informationNon-current Assets. Prof.(FH) Dr. Walter Egger
Non-current Assets Prof.(FH) Dr. Walter Egger IAS 38 Intangible Assets Intangible Asset Is an identifiable non-monetary asset without physical substance Identifiability Seperable (can be seperated, divided
More informationAktuelle regnskapsmessige problemstillinger fra et selskaps ståsted. KRISTIANSAND SYMPOSIUM 15 Juni 2010 Lars Ragnar Vigdel
Aktuelle regnskapsmessige problemstillinger fra et selskaps ståsted KRISTIANSAND SYMPOSIUM 15 Juni 2010 Lars Ragnar Vigdel 1- Classification: Internal 2010-06-11 Selected accounting issues from a preparers
More informationResearch project: Goodwill -Impairment & Amortization-
IFASS Meeting Zurich Paper 8.2 Research project: Goodwill -Impairment & Amortization- Accounting Standards Board of Japan October 23, 2012 Index Background ASBJ s Questionnaire Roundtable discussion What
More informationRecoverable Amount Disclosures for Non-Financial Assets (Diff Rep) (Amendments to NZ IAS 36 (Diff Rep))
Recoverable Amount Disclosures for Non-Financial Assets (Diff Rep) Issued June 2013 This Standard was issued by the New Zealand Accounting Standards Board of the External Reporting Board pursuant to section
More informationProposed FASB Staff Position No. 142-d, Amortization and Impairment of Acquired Renewable Intangible Assets (FSP 142-d)
Financial Reporting Advisors, LLC 100 North LaSalle Street, Suite 2215 Chicago, Illinois 60602 312.345.9101 www.finra.com Mr. Lawrence W. Smith Director - Technical Application and Implementation Activities
More informationFinancial Accounting Series
Financial Accounting Series NO. 221-C JUNE 2001 Statement of Financial Accounting Standards No. 142 Goodwill and Other Intangible Assets Financial Accounting Standards Board of the Financial Accounting
More information4/10/2012. Long-Lived Assets and Depreciation. Overview of Long-lived Assets. Learning Objectives (LO) Learning Objectives (LO)
Learning Objectives (LO) CHAPTER Long-Lived Assets and Depreciation 8 After studying this chapter, you should be able to 1. Distinguish a company s expenses from expenditures that it should capitalize
More informationEN Official Journal of the European Union L 320/323
29.11.2008 EN Official Journal of the European Union L 320/323 INTERNATIONAL ACCOUNTING STANDARD 40 Investment property OBJECTIVE 1 The objective of this standard is to prescribe the accounting treatment
More informationAdviser alert Insights into IFRS 16 Understanding the discount rate
Adviser alert Insights into IFRS 16 Understanding the discount rate November 2018 Overview The Grant Thornton International IFRS team has published Insights into IFRS 16 Understanding the discount rate.
More informationFinancial Reporting Matters
Financial Reporting Matters January 2005 Issue 4 A UDIT In this edition, we discuss some challenges that may be encountered in applying the latest standard on business combinations. In addition, we highlight
More informationInternational Valuation Standards 2017 Queenstown 29 June Presenter Chris Stanley
International Valuation Standards 2017 Queenstown 29 June 2017 Presenter Chris Stanley Why Have Standards? To ensure concepts such as Market Value & Fair Value are consistently applied Provides financial
More informationNOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017
4 PARTICULARS OF INCOME AND EXPENDITURE FROM SOCIAL HOUSING LETTINGS Housing accom Care and supported Temporary accom Rent receivable 114,855 16,847 9,659 1,081 142,442 141,633 Service charges 6,288 6,620
More informationAuditing PP&E, Including Leases
Auditing PP&E, Including Leases Learning Objectives Discuss typical audit risks and special considerations. Tailor an audit plan to assessed audit risk. Explain key controls related to PP&E. Describe lease
More informationInternational Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom. September 13, 2013
International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom September 13, 2013 Technical Director File Reference No. 2013-270 Financial Accounting Standards Board 401 Merritt
More informationWEEK 9 Investment Property IAS 40
WEEK 9 Investment Property IAS 40 Learning Objectives Define the term investment property. Explain the recognition and measurement procedures in IAS 40 Discuss how to treat disposable of an asset Discuss
More informationICAI VALUATION STANDARDS 2018
ICAI VALUATION STANDARDS 2018 Seminar on Valuation Standards and Rules at ICAI BKC C A B H A K T I S H A H 2 4 N O V 2 0 1 8 INTRODUCTION TO REGISTERED VALUER Section 247 of the Companies Act, 2013 ( Act
More informationAccounting Of Intangible Assets Indian as- 26
IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 16, Issue 2. Ver. II (Feb. 2014), PP 40-45 Accounting Of Intangible Assets Indian as- 26 Manpreet Sharma,
More informationTOPIC 2 - IAS 40 INVESTMENT PROPERTY
TOPIC 2 - IAS 40 INVESTMENT PROPERTY Definitions: Investment Property: Property held to earn rentals or for capital appreciation or both. An entity may own land or a building as an investment rather than
More informationOlivier Péronnet. 4 December 2017 Bocconi Conference
French practice regarding fairness opinions: The role of independent appraisers in tender offers and squeezeouts according to the AMF General Regulation Olivier Péronnet 4 December 2017 Bocconi Conference
More informationChapter 11 Investments in Noncurrent Operating Assets Utilization and Retirement
Chapter 11 Investments in Noncurrent Operating Assets Utilization and Retirement 1. The annual depreciation expense 2. The depletion of natural resources 3. The changes in estimates and methods in the
More informationThis version includes amendments resulting from IFRSs issued up to 31 December 2009.
International Accounting Standard 40 Investment Property This version includes amendments resulting from IFRSs issued up to 31 December 2009. IAS 40 Investment Property was issued by the International
More informationIntangible Assets. Contents. Accounting Standard (AS) 26 (issued 2002)
Accounting Standard (AS) 26 (issued 2002) Intangible Assets Contents OBJECTIVE SCOPE Paragraphs 1-5 DEFINITIONS 6-18 Intangible Assets 7-18 Identifiability 11-13 Control 14-17 Future Economic Benefits
More informationSpecial Purpose Properties. Special Valuation Considerations
Special Purpose Properties Special Valuation Considerations 2017 Case Study in Ottawa: New Automobile Dealership Many brand-specific specialties Cost: $4,000,000 (including land and a developer fee) Sales
More informationIFRS 3 Business Combinations
IFRS 3 Business Combinations What constitutes a business? an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of
More informationANNUAL REPORT 2017 Lake Country Co-operative Association Limited
ANNUAL REPORT Management's Responsibility To the Members of Lake Country Co-operative Association Limited: Management is responsible for the preparation and presentation of the accompanying financial statements,
More informationIAS Revenue. By:
IAS - 18 Revenue International Accounting Standard No 18 (IAS 18) Revenue In 1998, IAS 39, Financial Instruments: Recognition and Measurement, amended paragraph 11 of IAS 18, adding a cross-reference to
More information.01 The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.
COMPARISON OF GRAP 16 WITH IAS 40 GRAP 16 IAS 40 DIFFERENCES Objective.01 The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.
More informationMTS and BV Technical Issues of Joint Interest. ASA Webinar March 20, 2018
MTS and BV Technical Issues of Joint Interest ASA Webinar March 20, 2018 Presenter s Contact Information Raymond Rath, ASA, CEIV, CFA Managing Director Globalview Advisors LLC 19900 MacArthur Boulevard,
More informationInternational Valuation Standards Board 15 Feb Moorgate London EC2R 6PP United Kingdom
International Valuation Standards Board 15 Feb 2013 41 Moorgate London EC2R 6PP United Kingdom Email: commentletters@ivsc.org The Finnish Association for Real Estate Valuation appreciates the opportunity
More informationThis article is relevant to the Diploma in International Financial Reporting and ACCA Qualification Papers F7 and P2
REVENUE RECOGNITION This article is relevant to the Diploma in International Financial Reporting and ACCA Qualification Papers F7 and P2 For almost all entities other than financial institutions, revenue
More informationInternational Accounting Standard 17 Leases. Objective. Scope. Definitions IAS 17
International Accounting Standard 17 Leases Objective 1 The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in relation
More informationInternational Accounting Standard 38 Intangible Assets. Objective. Scope
International Accounting Standard 38 Intangible Assets Objective 1 The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in
More informationL 320/252 EN Official Journal of the European Union
L 320/252 EN Official Journal of the European Union 29.11.2008 INTERNATIONAL ACCOUNTING STANDARD 38 Intangible assets OBJECTIVE 1 The objective of this standard is to prescribe the accounting treatment
More informationInternational Accounting Standards Board Press Release
International Accounting Standards Board Press Release 31 March 2004 IASB ISSUES STANDARDS ON BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS The International Accounting Standards Board (IASB) today
More informationINTANGIBLE VALUE FACT OR FICTION
1 Define Intangible OUTLINE Outline Appraisal Concepts, Definitions and Issues Examine Legal Framework Examine Case Study Provoke Debate Declare Winning Argument (But the points don t matter) 2 One of
More informationOn 1 February 2013 the IVSC announced the release of an Exposure Draft dealing with amendments to IVS 2011.
29 April 2013 IVSC Standards Board International Valuation Standards Council 41 Moorgate LONDON EC2R 6PP Dear Sirs, Exposure Draft Amendments to the International Valuation Standards On 1 February 2013
More informationHONG KONG SOCIETY OF ACCOUNTANTS. Financial Accounting Standards Committee. Urgent Issues & Interpretations Sub-Committee
HONG KONG SOCIETY OF ACCOUNTANTS Financial Accounting Standards Committee Urgent Issues & Interpretations Sub-Committee Interpretation 12 Business combinations - Subsequent adjustment of fair values and
More informationFully Stabilized 24-Unit Property at 11% Cap Rate!
Fully Stabilized 24-Unit Property at 11% Cap Rate! To Insert a Picture here, click inside this box with your mouse, then click on "INSERT PIC" button on the right and select the picture 24 Units consisting
More informationDAR AL ARKAN REAL ESTATE DEVELOPMENT COMPANY SAUDI JOINT STOCK COMPANY
DAR AL ARKAN REAL ESTATE DEVELOPMENT COMPANY INTERIM CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS LIMITED REVIEW REPORT FOR THE NINE-MONTH PERIOD ENDED 30 SEPTEMBER INTERIM CONSOLIDATED FINANCIAL STATEMENTS
More informationBusiness Valuation More Art Than Science
Business Valuation More Art Than Science One of the more difficult aspects of business planning is business valuation. It is also one of the more important aspects. While owners of closely held businesses
More information31 July 2014 Japan s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications
31 July 2014 Japan s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications ASBJ Modification Accounting Standard Exposure Draft No. 1 Accounting for
More informationIPSAS 17: GUIDANCE NOTE 3 OPENING BALANCES & FAIR VALUE MEASUREMENT of PPE FOR 1 ST TIME ADOPTERS of IPSAS
IPSAS 17: GUIDANCE NOTE 3 OPENING BALANCES & FAIR VALUE MEASUREMENT of PPE FOR 1 ST TIME ADOPTERS of IPSAS Executive Summary At its June 2007 meeting, the Task Force on Accounting Standards (Task Force)
More information$450,000 $63,425 $39, % PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE
Executive Summary Key Property Metrics $450,000 $63,425 $39,143 14.1% PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE $70,000 $60,000 $50,000 $40,000 $30,000 Annual Cash Flow Repairs, 8%
More informationNew Zealand Equivalent to International Accounting Standard 40 Investment Property (NZ IAS 40)
New Zealand Equivalent to International Accounting Standard 40 Investment Property (NZ IAS 40) Issued November 2004 and incorporates amendments up to and including 31 October 2010 This Standard was issued
More informationWYOMING DEPARTMENT OF REVENUE CHAPTER 7 PROPERTY TAX VALUATION METHODOLOGY AND ASSESSMENT (DEPARTMENT ASSESSMENTS)
CHAPTER 7 PROPERTY TAX VALUATION METHODOLOGY AND ASSESSMENT (DEPARTMENT ASSESSMENTS) Section 1. Authority. These Rules are promulgated under the authority of W.S. 39-11-102(b). Section 2. Purpose of Rules.
More informationWEEK 7- CASH FLOW STATEMENT & ACCOUNTING FOR LIABILITIES / BONDS
CIS FINANCIAL ACCOUNTIG 1.1 CONTACT NUMBER 08038400843 CONTACT HOURS TUESDAYS AND FRIDAY 6PM 7PM WEEK 7- CASH FLOW STATEMENT & ACCOUNTING FOR LIABILITIES / BONDS CHAPTER 11 & 12. MULTIPLE CHOICE 1. Which
More informationSTRAWBERRY FIELDS REIT LTD. CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2016
. CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2016 1 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2016 Contents Page Independent auditors' report 3 Consolidated Statements of Financial
More informationAAT Professional Diploma in Accounting
Qualification Number: R486 04 Qualification Technical Information Version 1.1 published 13 June 2016 AAT Professional Diploma in Accounting Qualification Technical Information Units in this qualification
More informationConsolidated Financial Statements of ECOTRUST CANADA. Year ended December 31, 2016
Consolidated Financial Statements of ECOTRUST CANADA KPMG Enterprise TM Metro Tower I 4710 Kingsway, Suite 2400 Burnaby BC V5H 4M2 Canada Telephone (604) 527-3600 Fax (604) 527-3636 INDEPENDENT AUDITORS
More informationRe: FASB Exposure Draft, Proposed Statement of Financial Accounting Standards, "Business Combinations, a replacement of FASB Statement No.
Letter of Comment No: lo%" File Reference: 1204-001 October 28, 2005 Mr. Robert Herz Chairman Financial Accounting Standards Board 40 I Merritt 7 P.O. Box 5116 Norwalk, CT 06856-5116 File Reference No.
More informationSri Lanka Accounting Standard-LKAS 40. Investment Property
Sri Lanka Accounting Standard-LKAS 40 Investment Property CONTENTS SRI LANKA ACCOUNTING STANDARD-LKAS 40 INVESTMENT PROPERTY paragraphs OBJECTIVE 1 SCOPE 2-4 DEFINITIONS 5-15 RECOGNITION 16-19 MEASUREMENT
More informationCHAPTER TWO Concepts and principles
CHAPTER TWO Concepts and principles 2.3 GOVERNMENT AND NON-GOVERNMENT GRANTS Recognition and presentation grants and contributions 2.3.2.8 Grants and contributions, including donated assets, shall not
More informationIntangible Assets. Contents. Accounting Standard (AS) 26
501 Accounting Standard (AS) 26 (issued 2002) Intangible Assets Contents OBJECTIVE SCOPE Paragraphs 1-5 DEFINITIONS 6-18 Intangible Assets 7-18 Identifiability 11-13 Control 14-17 Future Economic Benefits
More informationBusiness Combinations under Common Control
IFRS Foundation Joint CMAC-GPF meeting, 14-15 June 2018 Agenda Paper 5 Business Combinations under Common Control Contacts: Yulia Feygina, yfeygina@ifrs.org, +44 (0)20 7332 2743 Ashley Carboni, acarboni@ifrs.org,
More informationBoard Meeting Handout ACCOUNTING FOR CONTINGENCIES September 6, 2007
PURPOSE Board Meeting Handout ACCOUNTING FOR CONTINGENCIES September 6, 2007 At today s meeting, the Board will discuss whether to add to its technical agenda a project considering whether to revise the
More information