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Valuation for Financial Statements under UK GAAP

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Valuation for Financial Statements under UK GAAP

Name: Valuation for Financial Statements under UK GAAP
Brand: RICS
SKU: 9781842196731
Price: 405.00 HKD
Availability: OutOfStock
Author: Professional Group Valuation and Commercial
ISBN: 9781842196731

By Professional Group Valuation and Commercial

RICS April 2011

Specifications

ISBN-13: 9781842196731
Publisher: RICS
Publication: April 2011
Format: Paperback
Jurisdiction: U.K. ? Countri(es) for reference only

Details

In the UK, financial statements may comply with either UK Generally Accepted Accounting Principles (GAAP) and associated accounting standards, or International Financial Reporting Standards (IFRS). Although in some instances, for example listed companies, there is a requirement to adopt IFRS, there are still many cases where UKGAAP is adopted. One key difference between the standards is that under UK GAAP, property that is owner-occupied must be valued at its existing use value (EUV) or depreciated replacement cost (DRC).

This guidance note provides an in-depth analysis of the concept of EUV as defined in the RICS Valuation Standards (the ‘Red Book’). By way of 12 examples, this guidance illustrates a range of situations that could arise, and gives practical guidance on how EUV differs from Market Value, how it should be reported and the disclosures that have to be made.

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