At Preston Rowe Paterson we have specialised in Asset Valuation for Financial Reporting for all forms of real estate, infrastructure, asset, plant, machinery and equipment for almost four decades.
Whether acting for corporate, listed and unlisted REIT, private or Government clients the essential first step in the asset valuation for financial reporting process is to work with clients to classify the assets to be valued which, in turn, establishes the IVSC valuation standards and IFRS or AASB accounting standards which are to apply. Importantly which valuation methodologies also apply.
The most relevant standards include:-
- AASB 5 – Non-current Assets Held for Sale and Discontinued Operations;
- AASB 13 – Fair Value Measurement;
- AASB 16 – Leases;
- AASB 116 – Property, Plant and Equipment;
- AASB 136 – Impairment of Assets;
- AASB 140 – Investment Property;
- AASB 1051 – Land Under Roads;
- AASB S1 – General Requirements for Disclosure of Sustainability-related Financial Information;
- AASB S2 – Climate-related Disclosures;
- IFRS (International Financial Reporting Standards);
- IVSC (International Valuation Standards Council); and
- State Treasury Guidelines.
Real Property Asset Classification Flowchart 2026
To review and apply the relevant valuation and accounting standards a number of tests are firstly necessary as follows:-
- Is the asset an Operational or Non operational asset?
- If an Operational Asset is it a Specialised Operational Asset or No Specialised Operation Asset?
- If It is a Non Specialised Operation Asset is it a Support Asset or Trading Unit Asset?
- If it is a Specialised Operational Asset is it a Replacement Cost Asset or Cash Flow Asset?
- If it is a Non Operational Asset is it a Surplus Asset Held For Sale or is it a property investment?
- Depending on whether the asset is a Specialised Operational Asset, Non Specialised Operational Asset, a Surplus Asset Held for Sale or a property investment, which accounting and valuation standards apply?
- Consider examples of Support Assets; Trading Unit Assets; Replacement Cost Assets; Cash Flow assets, Assets Held for Sale; or Property Investments
- Which IVSC valuation standards apply;
- Which approaches and methodologies apply; and
- Consider whether the definition n of AASB Fair Value and IVSC Market Value are one and the same for the circumstances of the asset being valued.
Our Team of qualified valuers, researchers and advisers bring a wealth of knowledge and experience to the table.
Gregory Preston AM
Investment Valuation and Capital Market Advisory
B.Comm., MAppFin, Ass. Dip. Val., LFAPI, FRICS, GAICD
Chair & Managing Director
Gregory Rowe
Real Estate, Asset, Plant & Machinery Valuation
B.Bus., FAPI, CPV, CPV P&M
Chair & Managing Director
Richard Lawrie
Investment Valuation & Capital Markets Advisory
BAppSc (Land Econ), FAPI, MRICS, CPV
Director
Dimity Lee
Investment Valuation and Capital Market Advisory
B.Prop. & Sus. Dev. (Val), AAPI, CPV
Associate Director
Daniel Saliba
Investment Valuation and Capital Market Advisory
B.Prop.Econ. (Hons), AAPI, CPV
Associate Director
Neil Watson
Investment Valuation and Capital Market Advisory
B.PropVal, GradCertAppFin, AAPI, CPV
Associate Director
Jun Choi
Investment Valuation and Capital Market Advisory
B.Fin M.Prop.Inv&Devt, AAPI, CPV
Commercial Valuer/Analyst
Alex Preston
Investment Valuation and Capital Market Advisory
B.Prop.Val, AAPI, CPV
Valuer / Analyst
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