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Machinery and Equipment Valuation

Ekeocha, Rowland J. O. (2012) Machinery and Equipment Valuation. WJPAS, 2 (2). pp. 45-50.

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Abstract

Valuation (appraisal) gives an unbiased opinion of value or other physical attributes of identified property. Value, on the other hand, is the monetary worth of property, goods or services. The Machinery and Technical Specialties (MTS) Committee of the American Society of Appraisers (ASA) established methods for valuation of property including machinery and equipment. These methods conform to the Uniform Standards of Professional Appraisal Practice (USPAP). Valuation of property and indeed machinery and equipment is necessary for various purposes including ownership change, partnerships, mergers and acquisitions. The Industrial Inspectorate Department (IID) of the Federal Ministry of Industry in conformity with the Institute of Appraisers and cost Engineers (IACE) of the Nigerian Society of Engineers (NSE) Internalized the valuation process in carrying out the mandate of determining the investment valuation of capital undertakings with the view to issuing acceptance certificate for capital allowance purposes and certificate of value for equity contribution. This paper sets out to streamline the various valuation methods as a way of complementing the existing valuation process. The application of a combination of these valuation methods is recommended to arrive at an unbiased opinion of value of any property and indeed machinery and equipment

Item Type: Article
Uncontrolled Keywords: Machinery valuation, valuation process, capital undertaking
Subjects: T Technology > TJ Mechanical engineering and machinery
Divisions: Faculty of Engineering, Science and Mathematics > School of Engineering Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 11 Jan 2017 12:12
Last Modified: 11 Jan 2017 12:12
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/7520

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