A company commissioned a valuation of its land and, Ask an Expert

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A company commissioned a valuation of its land and buildings for inclusion in its financial statements. The valuation document contained the following details:

   $m
Reconstruction cost           10
Open market valuation      14
Existing use valuation       12
Expected selling costs       0.2

The company's internal calculations indicate a value in use for the property of $16 million.

Requirement

Determine the value at which the property should be recognised in the financial statements if the company uses the revaluation model.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M9528865

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