chap10,Valuation of personal property私有资产评估.pdf

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1、Valuation of personal propertyGN No.5姜涛 山东财经大学姜涛 山东财经大学2 2Valuation of personal propertyIntroductionScopeDefinitionsRelationship to accounting standardsGuidance NotesEffective date姜涛 山东财经大学姜涛 山东财经大学3 31.0 Introduction姜涛 山东财经大学姜涛 山东财经大学4 42.0 Scope姜涛 山东财经大学姜涛 山东财经大学5 53.0 Definitions3.1 Auction price

2、the price that is the final accepted bid at a public auction,may or may not include any fees or commissions.姜涛 山东财经大学姜涛 山东财经大学6 63.0 Definitions3.2 CollectiblesBroad descriptive term for objects collected because of the interest they arouse owing to their rarity,novelty,or uniqueness.In some states,

3、the term may be applied to fine art,antiques,gems and jewelry,musical instruments,numismatic and philatelic collections,rare books,and archival materials,among others.Elsewhere the term is normally used for these and a wide variety of other items not found in any other category.姜涛 山东财经大学姜涛 山东财经大学7 7

4、3.0 Definitions3.4 Cost approach for valuing fine art姜涛 山东财经大学姜涛 山东财经大学8 83.0 Definitions3.5 Fixtures and fittings.The totality of improvements integral to a property,valued collectively.姜涛 山东财经大学姜涛 山东财经大学9 93.0 Definitions3.7 Goods and Chattels personalA term used for identifiable,portable,and tang

5、ible objects considered by the public to be personal property.姜涛 山东财经大学姜涛 山东财经大学10103.0 Definitions3.8 Hammer PriceThe accepted and announced bid,exclusive of any fees or commissions and,therefore,not necessarily the purchase price.姜涛 山东财经大学姜涛 山东财经大学11113.0 Definitions3.10 Leasehold improvementsFixe

6、d improvements or additions to land or buildings,installed by and paid for by the tenant to meet the tenants needs;typically removable by the tenant upon expiration of the lease;removal causes no material damage to the real estate.姜涛 山东财经大学姜涛 山东财经大学12123.0 Definitions3.13 Personal PropertyA legal co

7、ncept referring to all rights,interests,and benefits related to ownership of items other than real estate.姜涛 山东财经大学姜涛 山东财经大学13133.0 Definitions3.14 PersonaltyA legal term used in certain states to designate items of personal property in distinction to realty,which may either refer to real property o

8、r real estate.Personalty includes tangible and intangible items that are not real estate.姜涛 山东财经大学姜涛 山东财经大学14143.0 Definitions3.16 Private treaty saleA sale negotiated and transacted between persons rather than public auction or another method.The sale price paid in a private treaty sale is generall

9、y not known except by the parties to the transaction.姜涛 山东财经大学姜涛 山东财经大学15154.0 Relationship to Accounting Standards姜涛 山东财经大学姜涛 山东财经大学16165.0 Guidance5.1 Personal property valuations may be required for a number of possible uses including financial reporting,acquisitions and disposals,insurance,and t

10、axation.姜涛 山东财经大学姜涛 山东财经大学17175.0 Guidance5.3 personal property valuer call for and rely upon the services of other professional property valuers or other professionals.Take verification steps to ensure that the services are competently performed and the conclusions relied upon are reasonable and cr

11、edible.Disclose the fact that no such verification steps were taken.姜涛 山东财经大学姜涛 山东财经大学18185.0 Guidance5.6 Personal property valuation report must include 5.6.1 identification of the property and ownership5.6.2 The effective date5.6.3 The basis or definition of value5.6.5 The purpose and the use of t

12、he valuation5.6.6 The conditions of the valuation.5.6.7 Liens and encumbrances on the property.5.6.8 Compliance statement姜涛 山东财经大学姜涛 山东财经大学19195.0 Guidance5.7 factors affecting personal property value5.8 sales comparison approach5.9 Income capitalisation approach姜涛 山东财经大学姜涛 山东财经大学20205.0 Guidance5.1

13、0 cost approach5.10.2 Replacement cost refers to what one might expect to pay for an object of similar age,size,color,and condition.5.10.2.1.2 Reproduction cost refers to what one might expect to pay for a facsimile,or exact copy,of the original item,created with materials of a closely similar natur

14、e,quality,and age and using construction methods of the original period.姜涛 山东财经大学姜涛 山东财经大学21215.0 Guidance5.11.2 The value conclusion shall also be based on value estimates from the valuation methods performed.5.11.2.2 the valuer must use judgment when determining the relative weight to be given to

15、each of the value estimates during the valuation process.5.11.2.2 The valuer should provide the rationale and justification for the valuation methods used and for the weighting of the methods relied on in reaching the value reconciliation when requested.姜涛 山东财经大学姜涛 山东财经大学22226.0 Effective date31 July 2007.