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Hi, for valuation of PPE completed after a company’s year end, I understand that we only adjust if the valuation was completed within 1 year. However, I would like to confirm the following:
1) Must the valuation be completed within a year of the valuation OR within a year after the company’s year end?
2) Does this rule only apply to PPE? Will valuation of say, provision be following this rule as well?
Thank you.
Hi,
This is only relevant on consolidation and valuing the net assets at the date of acquisition. If the values that we had originally estimated change within a year of the acquisition then we can adjust the net assets at acquisition.
This applies to all assets/liabilities and not just PPE.
Thanks
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