Iroham, C.O. and Oluwatobi, A. O. and Oloke, C. Olayinka (2015) Interval Estimate in Plant and Machinery Valuation: A Guide against Variance for Capacity Development amongst Estate Valuers. In: International Conference on African Development Issues (CU-ICADI) 2015: Social and Economic Models for Development Track, African Leadership Development Centre, Covenant University Canaanland, Ota Ogun State, Nigeria.
![[img]](http://eprints.covenantuniversity.edu.ng/style/images/fileicons/application_pdf.png) |
PDF
Download (2MB) |
Abstract
-Valuation variance, one of the valuation errors, has been explored by researchers all over the world in relation to valuation of land and buildings; however, there is dearth of this research on plant and machinery. This research is in a bid to harmonizing values of these assets amongst estate valuers particularly at this propitious time when the Financial Reporting Act of 2011 has paved way for more enforceable statutory valuations in Nigeria. This study as against most arbitrary placed margin of errors is in furtherance to an earlier pedagogic work that entailed the review of related literatures from where an allowable range of ±5% error was permisible and an interval estimate of an appropriate depreciated value at a 95% confidence level was adopted from basic statistics to give a reasonable ±9.8% margin of error. The researchers hereby opine that adherence to thie result in practice will help in capacity development of Estate Valuers who have the statutory preserve to undertake valuations of all assets
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Uncontrolled Keywords: | Interval Estimate, Plant and Machinery, Variance, Valuation errors, Estate Valuers, Capacity Development |
| Subjects: | Q Science > Q Science (General) T Technology > T Technology (General) |
| Divisions: | Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 21 Jun 2015 22:34 |
| Last Modified: | 21 Jun 2015 22:34 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/5290 |
Actions (login required)
 |
View Item |
