Over the years clients’ requirement of valuation has changed significantly. Appropriate reporting of assets in financial statement as per International Financial Reporting Standards (IFRS) has become very crucial for the companies.
IFRS has resulted into enhanced comparability and reporting transparency. It has also eliminated multiple reporting. IFRS requires Fair Value reporting and Depreciation to be based on useful economic life of asset. Hence, it has become very necessary for companies to undertake valuation of their assets from qualified and independent valuers.
At B&A Valuers, we keep ourselves abreast with the latest knowledge vis-a-vis relevant accounting and valuation standards. Our valuers have sound understanding of reporting of assets at fair value during initial recognition as well as measurement after initial recognition to comply with relevant provisions in Australian Accounting Standards AASB 13 (Fair Value Measurement), AASB 116 (Property, Plant and Equipment) and AASB 136 (Impairment of Assets).
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