...new standard 3. The definition of fair value 4. The concept of ‘highest and best use’ 4.1 Assessment 4.2 Valuing the highest and best use — alternative use and asset modifications 4.3 Highest and best use and impairment testing 5. The valuation premise for property interests 6. Assessing whether an appraisal complies with IFRS 13 7. Appropriate valuation techniques 8. Applying the fair value hierarchy to real estate appraisals 9. Expanded disclosure requirements 10. Final thoughts 2 2 3 3 3 4 4 5 5 6 7 8 9 IFRS 13 Fair value measurement — 21st century real estate values Implications for the real estate and construction industries 1 1. Introduction IFRS 13 Fair Value Measurement has been recently released by the International Accounting Standard Board (IASB). 2. Principal impacts of the new standard For real estate entities, the adoption of IFRS 13 could result in significant changes to processes and procedures for determining fair value and providing the required disclosures. While the requirement to determine fair value by reference to market participants is not new, the definition of fair value in IFRS 13 differs from that proposed by International Valuation Standards (IVS), which are the generally accepted standards for professional appraisal practice in valuing real estate internationally. The fair value framework set out in IFRS 13 contains specific requirements relating to ‘highest and best use’, valuation premise, and principal market. This may require entities and...
Words: 5307 - Pages: 22
... the court shall be guided by consideration of what appears to be the best interests of the child in respect to the child’s temporal, mental, and moral welfare. If the child is of sufficient age to form an intelligent preference, the court may consider that preference in determining the question. South Dakota courts must consider a number of factors when determining what is in the child’s best interest, including each of the following: 1) each parent’s stability; 2) each parent’s fitness to care for the child; 3) which parent has been the child's primary caretaker; 4) each parent’s willingness to communicate with the other parent; 5) whether either parent’s conduct would be harmful to the child; 6) the child’s siblings and where they reside; 7) the child’s preference; and 8) any other factors the court deems relevant. In the present case the minor child has expressed desire to stay with Respondent as to not have to transfer schools or leave friends, but has also expressed hesitancy dealing with Respondents homosexual lifestyle and male companion. Therefore, given the incidents of domestic violence against Petitioner by Respondent, the child’s potential embarrassment and uncomfortableness with Respondent’s homosexual lifestyle and Respondent’s alcohol abuse the court should be persuaded to award custody to the Petitioner over the desires of the minor...
Words: 1220 - Pages: 5
...the intake he was concern with being well-known doctor that would like to keep this information private from others and would like to pay cash for service. Phase 1: The counselor is aware of the physician’s rights to keep his daughters condition private, however providing medication to a family member is cause for concern when there may not have been a proper assessment completed or if it is not being documented properly. The influence the medication can influence the process of therapy; especially when there may be no medical documentation of initial symptoms can cause various problems with treatment. It is important in determining if there is medical documentation supporting the diagnosis/medication and what types of tools were used in determining those findings. Determine why she was not referred to an agency earlier, and why is it in the best interest for the physician to continue medication when the counselor would be capable of doing the same. Phase 2: These concerning factors are the ethical boundaries between professional/client relationships (A.6.e. Nonprofessional Interactions or Relationships (Other Than Sexual or Romantic Interactions or Relationships), the well-being of a proper diagnosis/ medication, and how is the treatment being documented (A.2.b.-Types of Information Needed &...
Words: 1785 - Pages: 8
...The dissent was strong because it criticized the majority’s test in considering the effect of the regulation not once, but twice in regulatory takings cases. This test is far too extreme and creates unnecessary litigation to define the meaning of “private property” under a takings analysis. In determining the size and range of a relevant parcel, Justice Roberts was correct to rely on state law to determine the distinct boundaries of land and parcels. Why should the court have to subject itself to the fact-specific inquiry that the majority adopted? The test considers “the treatment of the land under state and local law, the physical characteristics of the land, … the prospective value of the regulated land,” as well as the reasonable expectations of the property owner. Those considerations will be addressed in a takings analysis outside determining what is defined as the parcel of land relevant to the claim. There is no need, other than to create a more difficult scenario for landowners to prevail in their takings claims, to adopt a test that is this repetitive in nature. It is not as if those considerations will not be addressed, as Justice Roberts mentioned, they will be addressed in the takings analysis and adjacent parcels of land will have an impact on those...
Words: 800 - Pages: 4
...investment. After analysing intrests rates in our course do you think that interest rate in Egypt reflect the real opportunity cost of holding money? why or why not? Please support your answer with all the references you have searched. The opportunity cost of holding money is the cost that could be realized if money were invested instead of held. In other words, it is the interest rate that money is earning in a chosen investment. Typically, it is the interest rate that is set on a bond, particularly a government bond. Given the other investment choices that could be made, this cost could be very different from one person or entity to another. To determine the true opportunity cost of holding money, it is necessary to first determine what the investment vehicle would have been. After that, the next step is to research what the interest rate would be on that investment strategy. If the annual percentage rate is a single percent, then one percent annually would be the opportunity cost of holding onto the money. Assigning a definite value would require first knowing how much money was being held, and how long it would be held for. In economics, investing and holding money are known as mutually exclusive choices. This means that both cannot be done at the same time with the same money. If the money is being invested, it cannot be held. It may be possible for an individual to change his or her mind concerning the best choice for that money, but both strategies are not done simultaneously...
Words: 510 - Pages: 3
...corresponding effects on the organization. The Board of Directors of many organizations is under direct scrutiny for their role in determining executive compensation policies. In theory, through the electoral process of public companies, shareholder interests should perfectly align with management, although this is not always the case. Shareholders elect the Board of Directors, who in turn, acting as agents of the shareholders, elects the officers. A compensation committee is formed to develop compensation packages that encourage officers to reach the goals and expectations of the shareholders. However, executive compensation policies are often quite complex and this electoral process can fail to meet its objective. By the 1980’s, these packages were weighted heavily by incentives including company stock, stock options, and cash. Due to complexity and lack of experience, some compensation committees may have been unprepared to make informed decisions about executive pay (Smith). Compensation committees must have a diverse skillset as well as include a financial expert with an extensive knowledge in human resources. These committees should have an understanding of best practices and effective strategies, as well as how the compensation structure compares to others in the industry. This committee is charged with the duty of determining if the pay program is...
Words: 1505 - Pages: 7
...Managers are, most of time, facing huge challenges in meeting the company’s cash flow target. The task on hand is to find solutions of the possible organization’s incoming shortage of cash, more precisely how to raise and maintain cash in the company six months from now until the next two years, when the company will lunch his lucrative product. Many possibilities will be analyzed and the best one will be presented to the board of directors. Debt financing is an on-going process that company uses to achieve their objectives. It is one of the chief financial officer (CFO) duties. The CFO has multitude of choices to choose from when I comes down to raise cash. He could decide to retain earnings, to sell bonds, to sell stocks, or to obtain a loan. The CFO has to choose the one that add value to the shareholders wealth. To be successful in this task the CFO must consider the current economy condition and the current organization’s standing and objectives. Furthermore, the CFO must remain trustworthy and must not provide misleading or biased proposition to the board of directors. Conflict of interest should be avoided. It is here, where the CFO must value his profession and more importantly his faith. As we see in the bible, the Lord Jesus Christ showed us how to be and remain in communion with his father, our God. He said, “ I am the way, the truth, and the life. No one comes to my Father except...
Words: 1012 - Pages: 5
...payment was made March 17, 2010 for fiscal year end 2009, for purposes of accruing interest and penalties under this law. In preparing the December 31, 2009 tax return there are two deductions which the tax law is not clear on whether those tax positions should reduce the Company’s 2009 tax liability. Issues 1 and 2, assume that each of the tax positions has substantial authority for the purpose of determining whether penalties may be assessed. Issue 1: Bricks & Mortar implemented a certain tax strategy that allows the company to include $100 deduction in its draft tax return, resulting in $40 reduction to taxes payable. 40% chance that the tax position would be sustained if taken to the court of last resort. On the basis of its past experience with negotiating settlements with the taxing authority, management believes that if it were to negotiate a settlement with the taxing authority it would have the following outcome: Possible Estimated Outcome | Individual Probability of Occurring | Cumulative probability of occurring | $40 | 10% | 10% | $20 | 40% | 50% | $10 | 30% | 80% | $0 | 20% | 100% | Issue 1, One Year Later: One year later, all facts remain the same except passage of time. Solution to Issue 1: According to ASU paragraph 740-10-55-3 under recognition of measurement a two step process. It is explained that there are two steps to determining if a tax position should be recognized and how to measure the tax position. The first...
Words: 1595 - Pages: 7
...IN RE THE MARRIAGE OF SALLY BRIGHT PETITIONER V. MEMORANDUM JOHN BRIGHT RESPONDENT Comes Petitioner, by counsel, and for her Memorandum states as follows: I. FACTS Sally Bright (Petitioner), filed for divorce and custody of 14 year old daughter, Chastity. John Bright (Respondent) also requested custody. The court ordered temporary custody of the minor child to Petitioner and visitation with Respondent every weekend. Petitioner will be moving to another part of the country to take a job. Respondent has realized he is gay and has met a male companion who doesn’t reside with him presently, but someday might. Chastity testified that she feels weird around Respondent’s male companion. Psychologist, Dr. Samuel Stoller, testified that Chastity would prefer to stay in the area so she can be with her friends as she moves into high school as she has been having problems in school since the divorce. Psychologist, Dr. Frank Edwards, testified that Chastity has stated she feels uncomfortable around her father’s new companion. Respondent has, on several occasions, physically abused Petitioner, but not in front of Chastity and has never abused Chastity. Both parents have been actively, and almost equally, involved in day-to-day care of Chastity throughout her life. II. SHOULD PETITIONER RETAIN CUSTODY OF 14 YEAR OLD DAUGHTER? A. PETITIONER MOVING TO ANOTHER PART OF THE COUNTRY Petitioner will be moving to take a job in another part of the...
Words: 1221 - Pages: 5
...Chapter 7 Buying an Existing Business Part 1: Learning Objectives 1. Understand the advantages and disadvantages of buying an existing business. 2. Define the steps involved in the right way to buy a business. 3. Explain the process of evaluating an existing business. 4. Describe the various techniques for determining the value of a business. 5. Understand the seller's side of the buyout decision and how to structure the deal. 6. Understand how the negotiation process works and identify the factors that affect the negotiation process. Part 2: Class Instruction Introduction Some entrepreneurs choose to buy existing businesses rather than start their own. In a typical year, between 500,000 to one million businesses are bought and sold. Purchasing an established business can offer many advantages—if the entrepreneur knows what they are really buying and if the business is priced right. Buying an Existing Business LO 1 A prospective owner must ask several key questions before buying an existing business. • Is it the right type of business for the market? • What experience do I bring to the venture? • What is the success potential? • What changes are needed—and how extensive are they—to realize the full potential of the value of the business? People buy businesses for different reasons. As described in Figure 7.1: Types of Business Buyers, we can categorize buyers into four areas: 1. Main...
Words: 4427 - Pages: 18
...Introduction This is an assessment of the leadership styles and skills of the manager of scotia bank Morant Bay. In this assessment my aim is: To assess critically the effectiveness of the leadership style and skills demonstrated by the manager of the scotia bank Morant Bay branch. In order to achieve this aim I’ve set up a group of objectives which are: To determine the leadership style utilized by the manager. To determine the leadership skills possessed by the manager. To analyse the effectiveness of the managers leadership style and skills. Literature review McHugh (2002) in his book, Understanding business, listed three types of leadership styles namely autocratic, democratic and laissez-faire. An autocratic leader is defined by McHugh as one who makes decisions without consulting others. A participative/democratic leader is one who consults with his subordinates and discuss with them before making decision. A laissez-faire leader will give free reign to his workers. A laissez-faire is sometimes deemed lazy and inactive in a business but this is not so, they set a standard which employees are expected to adhere, McHugh explains this by saying “Managers setting objectives and employees being relatively free to do whatever it take to accomplish those objectives” In a similar study conducted by Griffin (2002) he discovers a new leadership style which he described as transformational and defined as ...
Words: 1544 - Pages: 7
...Chapter 7 Buying an Existing Business Part 1: Learning Objectives 1. Understand the advantages and disadvantages of buying an existing business. 2. Define the steps involved in the right way to buy a business. 3. Explain the process of evaluating an existing business. 4. Describe the various techniques for determining the value of a business. 5. Understand the seller's side of the buyout decision and how to structure the deal. 6. Understand how the negotiation process works and identify the factors that affect the negotiation process. Part 2: Class Instruction Introduction Some entrepreneurs choose to buy existing businesses rather than start their own. In a typical year, between 500,000 to one million businesses are bought and sold. Purchasing an established business can offer many advantages—if the entrepreneur knows what they are really buying and if the business is priced right. Buying an Existing Business LO 1 A prospective owner must ask several key questions before buying an existing business. • Is it the right type of business for the market? • What experience do I bring to the venture? • What is the success potential? • What changes are needed—and how extensive are they—to realize the full potential of the value of the business? People buy businesses for different reasons. As described in Figure 7.1: Types of Business Buyers, we can categorize buyers into four areas: 1. Main...
Words: 4427 - Pages: 18
...Marketing Communications Memo Aeishya Grant PSY/322 June 01, 2015 Morgan Cloward Marketing Communications Memo To: From: Date: Re: Integrated Marketing Communications The organization has experienced a significant development in the last decade. Hence, to boost its customer base, it needs to create an integrated marketing communications plan. With the consideration of the various segmentation methods, I have come up with a positioning strategy for the organization against its competitive brands. Each of the segments has different needs and, therefore, to be practical, the segments must be considered individually to judge their quality, value, and significance. The organization must strive to understand its customers by the use of demographic and psychographic information provided in this memo. Both the demographics and the psychographics are important in strengthening the relationship between the customer and the business. Marketing research is more than the normal customer surveys. It entails understanding the importance of psychographic and demographic information obtained from the primary research methods and the evaluation of the data for the application of its results in improving the existing marketing strategies (Lamb, Hair, & McDaniel, 2012). Marketing research must also be incorporated...
Words: 1299 - Pages: 6
...that the contract in this case could have been more beneficial to the infant and the scale could have been tipped more in favour of the infant but that is of little import. It also may not be desirable that member teams of the O.H.A. Major Junior League should occupy such a preferred position as vehicles of entry to the ranks of professional hockey but that too is of little import. It was this specific contract that was available to the infant in this case. The choice was to accept it or go elsewhere and that fact must be given appropriate weight. I do not believe that it could be realistically said that it would have been in the best interest of Tonelli to go elsewhere. The dissent by Mr Justice Zuber; who felt the defendant had breached his contract, based his decision on this critical question; In September of 1974, was it in the beneficial interest of the 17- year-old John Tonelli to enter into this agreement with the Toronto Marlboros? Zuber came to the conclusion that this young man wished to be a professional hockey player and even though he had before him the opportunity of binding himself to a fairly long period of time to the Marlboros; the result was likely to be the fulfilment of his ambition to become a professional hockey player and secondly, and as a result, the commencement of earnings beyond the dreams of most ordinary people. The majority however went further and applied a different test of “whether the contract is reasonable and fair.”...
Words: 691 - Pages: 3
...Access Pricing Principles — Telecommunications July 1997 Preface Part XIC of the Trade Practices Amendment (Telecommunications) Act 1997 introduces a new regime governing access to services in the telecommunications industry. A key component of this regime is the pricing of access which, in part, is to be administered by the Australian Competition and Consumer Commission. The purpose of this document is to outline the approach the Commission will adopt, in the usual case, when considering access pricing issues under Part XIC. A draft of this document was released for public comment in February 1997 and a public forum was held in April 1997. The Commission wishes to thank all parties who made submissions or participated in the public forum. This document reflects the Commission’s views after consideration of all relevant submissions and representations. The Commission also wishes to thank AUSTEL, Treasury, the Department of Communications and the Arts and the Bureau of Transport and Communications Economics for their assistance in preparing this document. The views expressed in this document are those of the Commission. ii Contents Preface ............................................................................................................................ ii Introduction ....................................................................................................................1 Legislative criteria ..................................................
Words: 13617 - Pages: 55
