This International Valuation Standards Committee (IVSC) has published the seventh edition of the International Valuation Standards - IVS 2005. In 2004, the International Accounting Standards Board made a number of significant changes to the accounting standards concerned with real estate and other fixed assets. The IVSC has revised its standards in IVS 2005 to reflect these changes. The two standards most affected by the revised International Financial Reporting Standards are International Valuation Application 1, Valuation for Financial Reporting, and International Valuation Guidance Note 8, The Cost Approach for Financial Reporting - (DRC).
The demand for valuations prepared under International Valuation Standards is being driven by the rapid adoption around the world of International Financial Reporting Standards, the growing influence of International Public Sector Accounting Standards, and the increasing need for users of valuation reports to have a consistent and comparable measurement of assets wherever they may be. Appraisers active in global markets should be familiar with the work of the International Standards Committee and the standards, applications, statements, and guidance notes presented in this text.
In addition, subscribers to the new IVSC subscription service will receive e-mail notification and printed copies of all exposure drafts, new standards/guidance, and IVSC newsletters produced during the period 1 February 2005 to 31 January 2007 or until a subsequent edition of IVS is published, whichever is sooner. See Related Items link below.
Contents of the seventh edition:
a. General Valuation Concepts and Principles
b. Code of Conduct
c. Standard 1 Market Value Basis of Valuation
d. Standard 2 Valuation Bases other than Market Value
e. Standard 3 Valuation Reporting
f. Application 1 Valuation for Financial Reporting
g. Application 2 Valuation for Lending Purposes
h. Guidance Note 1 Valuation of Real Property
i. Guidance Note 2 Valuation of Lease Interests
j. Guidance Note 3 Valuation of Plant / Equipment (under review)
k. Guidance Note 4 Valuation of Intangible Assets
l. Guidance Note 5 Valuation of Personal Property
m. Guidance Note 6 Business Valuation
n. Guidance Note 7 Consideration of Hazardous and Toxic Substances in Valuation
o. Guidance Note 8 The Cost Approach for Financial Reporting (DCR)
p. Guidance Note 9 Discounted Cash Flow (DCF) Analysis
q. Guidance Note 10 Valuation of Agricultural Properties
r. Guidance Note 11 Reviewing Valuations
s. Guidance Note 12 Valuation of Specialised Trading Property NEW
t. Guidance Note 13 Mass Appraisal for Property Taxation NEW
u. Guidance Note 14 Valuation of Properties in the Extractive Industries NEW
v. Information Paper Valuation in Emerging Markets
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