Valuation for Financial Reporting
As the largest professional organization of real estate valuers in the United States, the AI is strongly committed to improving the relevance and usefulness of financial reports as they relate to real estate assets. We support the adoption of accounting standards that result in useful information for users of financial reports, and guide and educate the public, including issuers, auditors, and users of those financial reports.
The AI works with all of the accounting standards setting bodies (FASB, IASB, and GASB) on fair value issues. AI believes that the fair value model provides the most relevant information about the composition, value, and recent changes in the value of the real estate investment assets held by reporting entities. We encourage the standards setting bodies to provide specific, guidance on the application of the fair value model to real estate, and to apply the fair value model as broadly as possible to real estate assets.
Fair Value (General)
GASB Preliminary Views on Fair Value Measurement and Application
Appraisal Institute Comments on GASB Fair Value Preliminary Views Document (October, 2013)
FASB Lease Accounting Exposure Draft (May, 2013)
IASB Lease Accounting Exposure Draft (May, 2013)
Appraisal Institute Comments on FASB/IASB Revised Lease Accounting Exposure Draft (September, 2013)
Appraisal Institute Comments on FASB Investment Property Entity Exposure Draft