Financial Reporting
Our team may also assist in the assessment of your tangible assets for financial reporting purposes.
We use a depreciated replacement cost (DRC)/depreciated optimised replacement cost (DORC) method of valuation for assets which are traded in the market. Our valuations consider a range of factors including:
- The condition and location of the assets
- Restrictions, if any, on the sale or use
- Heritage classification
- The assumed transaction takes place in the principal (or most advantageous) market
- Likely market participants
- Transaction costs – no allowance will be made
- Transportation costs incurred in moving the assets
- Highest and best use of the asset
We have a comprehensive understanding of the Australian Accounting Standards and relevant Department of Finance guidelines and all our reports seek to adhere to these standards. We are also registered/members of:
- Australian Tax Office (ATO) - Expert Valuation Services Panel
- Tax Practitioners’ Board - Tax Agent
- Major Government and Treasury Panels
We have significant experience dealing with the Australian National Audit Office, relevant State Audit Offices, as well as major accounting firms and auditors. This is in relation to compliance with Australian Accounting Standards Board (AASB), application of Fair Value hierarchy required for disclosure notes and Public Governance Performance and Accountability (PGPA) financial reporting rules.
Taxation
Accurately valuing your assets for taxation and accounting purposes is an imperative part of ensuring your accounting standards meet government requirements, as well as easing your tax burden. Valuations are required for capital gains tax and GST purposes, stamp duty obligations and, to gain maximum depreciation benefits from purchases and mergers.
Our valuations services ensure your assets are accurately valued using extensive market data, enabling you to claim the right amount of depreciation and consolidate your taxable income.
Mergers, Acquisitions and Disposals
Our valuations team may assist with an independent appraisal of asset values during negotiations for mergers, acquisitions, and disposals.
Asset Register Audit and Reconstruction Services
Our valuations team may also provide an independent audit of your organisational asset registers to capture physical accuracy and maximise depreciation charges.