UK valuation bases to change
UK valuation bases to change
- 2003
- RICS Valuation Faculty News 11 June 2003 (1) .
The EU has confirmed that from 2005 listed companies will be required to prepare their accounts in accordance with International Accounting Standards (IAS). These standards are based on the concept of 'fair value' which in property valuation is considered the same as market value. IAS do not recognise the current UK basis of Existing Use Value and companies will be required to have all their valuation revised to the fair value basis. http://www.rics.org/ricscms/bin/show?class=News&template=/includes/shownews.html&id=6004&faculty=Valuation&faculty=All%20Faculties
EC DIRECTIVES
LISTED COMPANIES
PROPERTY VALUATIONS
FAIR VALUE
INTERNATIONAL ACCOUNTING STANDARDS
The EU has confirmed that from 2005 listed companies will be required to prepare their accounts in accordance with International Accounting Standards (IAS). These standards are based on the concept of 'fair value' which in property valuation is considered the same as market value. IAS do not recognise the current UK basis of Existing Use Value and companies will be required to have all their valuation revised to the fair value basis. http://www.rics.org/ricscms/bin/show?class=News&template=/includes/shownews.html&id=6004&faculty=Valuation&faculty=All%20Faculties
EC DIRECTIVES
LISTED COMPANIES
PROPERTY VALUATIONS
FAIR VALUE
INTERNATIONAL ACCOUNTING STANDARDS