Financial Reporting – Fair Value

Financial Reporting Valuations & Fair Value Accounting

Australian Valuations provides accurate and robust valuations in accordance with International & Australian accounting standards (IAS, AASB) and International Financial Reporting Standards (IFRS).

In respect to the valuation requirements of property, plant and equipment for organisations subject to compliance with these standards, Fair Value is the prescribed basis of value and is measured in accordance with IFRS13 – Fair Value Measurement, the Australian equivalent is AASB113 – Fair Value Measurement.  In Australia reporting entities must comply with Australian Accounting Standards and Interpretations, as issued by the Australian Accounting Standards Board (AASB), and, where applicable, with the requirements of Corporations Act 2001.

‘Fair Value’ is defined as:

“…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.” [1]

Fair Value is a market-based measurement. The objective of a fair value is to estimate the selling price of the subject asset or assets that could be reasonably expected under orderly and current market conditions as at the effective date of valuation.

For more information, please contact us to discuss your requirements or fill in a valuation quote request form and we will respond promptly.

[1] AASB13 – Fair Value Measurement and IFRS13 – Fair Value Measurement

We are happy to provide an obligation-free consultation and quote on your next asset valuation job. Allow up to 48 hours Monday to Friday for a response or if you would like to speak to one of our Property, Plant, Machinery & Equipment Valuers directly please contact us.

About Australian Valuations

Australian Valuations provides you with professional asset valuation from a team of experienced and accredited valuers who consistently deliver high-quality service. We have extensive experience in providing valuation solutions and independent advice for all manner of plant, machinery & equipment, industrial property and infrastructure throughout Australia and internationally.

Our valuers and consultants maintain an active membership with national and international professional associations including the American Society of Appraisers (ASA), Royal Institution of Chartered Surveyors (RICS), Australian Valuers Institute (AVI), Australian Property Institute (API), National Council of Jewellery Valuers (NCJV), Auctioneers and Valuers Association of Australia (AVAA), and Institute of Automotive Mechanical Engineers (IAME).

 

Some of the other professional asset valuation services we provide include: