000			01699cam a2200277 4500
001			ABS64668
008			011101n2001 000 0 eng u
035			_a(Sirsi) u115440
100			_aCairns, D
245			_aValue of land in the balance
260			_c2001
490			_aEstates Gazette _v(0143) 27 October 2001, 178-179(2)
520			_aThe European Commission has proposed that all listed EU companies should comply with the International Accounting Standards (IAS) from 2005. Article considers the impact of IAS 16 "Property, Plant and Equipment" and IAS 40 "Investment Property" on UK property companies. The tone and style of IAS are quite similar to UK accounting standards with IAS 16 relating to FRS 15 Tangible Fixed Assets and IAS 40 to SSAP 19. However, there are some noticeable differences. IAS 16 defines the fair value of property as 'usually its market value' and lacks the detailed guidance provided in FRS 15 by reference to RICS' definition. In addition there are different valuation standards across Europe and conflicting definitions of 'market value' which has prompted calls for agreement on valuation standards within the EC. Also discusses the approach taken in IAS 40 to long-leasehold property investments.
590			_aABS
650			_aMANAGEMENT-BUSINESS MANAGEMENT-FINANCIAL MANAGEMENT-ACCOUNTING
650			_aVALUATION STANDARDS
650			_aIAS16
650			_aIAS40
650			_aPROPERTY INDUSTRY
650			_aINVESTMENT PROPERTY
650			_aPLANT AND MACHINERY
650			_aTANGIBLE FIXED ASSETS
650			_aINTERNATIONAL ACCOUNTING STANDARDS
690			_aMANAGEMENT-BUSINESS MANAGEMENT-FINANCIAL MANAGEMENT
942			_n0
999			_c68751 _d68751