“The requirement for entities to accurately report property and plant values puts obligations on Directors to understand market and fair values.”
The Australian and International Valuation Standards have become increasingly prescriptive, placing positive obligations on company directors.
Preston Rowe Paterson are extremely experienced in managing portfolio valuations of assets for listed and unlisted public companies, private companies, listed and unlisted property trusts and statutory bodies.
Our reporting carefully follows the guidelines outlined in the accounting standards.
|Australian Accounting Standard||International Equivalent Standard|
|AASB 13||Fair Value- This Standard:
(a) defines fair value;
(b) sets out in a single standard a framework for measuring fair value; and
(c) requires disclosures about fair value measurements.
|AASB 16||Leases- AASB16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months.||IFRS 16|
|AASB 116||Property, Plant and Equipment–
AASB 116 prescribes the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment.
|AASB 140||Investment Property-Prescribes the accounting treatment for investment property and related disclosure requirements.||IAS 40|
Examples of asset portfolio’s completed by Preston Rowe Paterson include:
- Commonwealth Bank of Australia (Retail Branch Network).
- State Property NSW (Government Office Buildings).
- Reece Plumbing (Retail outlets).
- Jaycar (Retail Stores).
- Victorian Government (TAFE Colleges, Schools, Emergency Services Buildings).