Accounting for investment properties: fair value method favoured over cost model
Date
2002
Authors
Howieson, B.
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Journal article
Citation
Australian Property Journal, 2002; 37(2):108-111
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Abstract
This paper on recent proposals by the Australian Accounting Standards Board (AASB) to significantly reform current accounting practices for investment properties. These proposals are likely to be of interest to the valuation profession, which had some input into their development. Reporting entities will have the option to use the fair value basis for reporting their operating performance and will consequently be looking to valuers for assistance in obtaining reliable market valuations.