The valuation of plant and machinery is necessary where businesses are bought or sold, broken up, put into receivership or liquidated.
Insurance quotes also rely on the valuation of equipment. Relying solely on the written down value listed on a depreciation schedule is usually not good practice due to asset pooling and accelerated depreciated rates allowed by the Australian Taxation Office. Establishing value where original purchase costs no longer exist can be difficult, especially where specialty machinery has been imported or tailored.
At the bottom of this profile are brief details of a number of the experts that Expert Experts represents. Call our office to discuss your requirements and to obtain a recommendation that suits your needs and budget.
Expertise in Action
Experts in this field can work closely with architects, financiers, engineers, contractors, suppliers, project managers, accountants, insurance underwriters, and government authorities.
They may be needed for insurance valuations, financial institution due diligence, tenders, mergers and acquisitions, litigation and insolvency, and financial reporting.
For some fields of expertise we have some sample sections of de-identified reports. Please contact our office if you are interested in a sample.
The overall cost of expert opinion depends on the services required. Some of the key factors that affect the cost of advice include:
- The need for a view or inspection of a location
- The quantity of documentary material to be reviewed
- Whether there are reports of other experts to be reviewed and commented on in detail
- Whether there is a need for conferences with the expert either in person or by telephone/Skype
AASB Standard: Property, Plant and Equipment
The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them.
Brybay Pty Ltd (In Liq) & Ors v Esanda Finance Corporation Ltd  WASC 309
Valuation experts were used in this case which revolved around the valuation of plant and machinery, and whether advertised prices rather than actual sale prices should be used for valuation.
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