Liquid provides fully scoped valuations to assist both our private and public sector clients establish asset fair values for the purpose of inclusion in financial statements. Asset valuations are undertaken with reference to Australian Accounting Standards (i.e. AASB 13 Fair Value and AASB 116 Property, Plant and Equipment) and International Valuation Standards.
Other valuation inputs may also be derived from relevant Government policies and guidelines.
It is recognised valuations conducted within the regulatory framework of local standards may be subject to audit by external independent entities and valuation outcomes are utilised to assist a range of users in;
Liquid’s projects cover a broad range of asset types and portfolios including
Liquid adds-value to all projects by providing advice on
Australian Accounting Standard 116 (AASB 116) promotes the concept of componentisation. Simply put; depreciation is applied to an asset on a component basis. That is, each part of an item of property, plant and equipment with a value significant in relation to the total value of the parent asset is depreciated separately. The depreciable amount of an asset is allocated on a systematic basis over the useful life of the asset. Liquid Pacific can assist clients discern what items of an asset are singularly significant (i.e. air-conditioning systems), the estimated current cost of the component item, its total useful life at the time of reporting and its remaining service potential.
To discuss your firm’s or Department’s portfolio or individual asset requirements contact Martin Burns, Liquid’s National Director of Valuations p: 1300 150 000, to initiate your next valuation project.
Relevant Accounting Standards for Asset Valuation
You can download current accounting standards for free by going to the AASB website
Relevant International Valuation Standards for Asset Valuation
International valuation standards can be purchased from the International Valuation Standards Council’s website