Posts Tagged ‘Equipment Appraisals’
The Appraisal Foundation Announces 2010-2011 Edition of USPAP
On June 9, 2009, The Appraisal Foundation, a congressionally authorized nonprofit organization that fosters professionalism among appraisers by setting qualifications and standards, announced that its Appraisal Standards Board (ASB) adopted revisions for the 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP are the generally accepted performance and ethical standards for the appraisal profession in the United States. Standards are included for real estate, personal property, business, and mass appraisal.
The new edition is expected to be available in October. However, ASB has issued a Summary of Action that will enable appraisers to become familiar with the changes that are part of the 2010-2011 edition. The changes will take effect on January 1, 2010.
The majority of revisions were made to the ETHICS RULE, the COMPETENCY RULE and STANDARD 3: Appraisal Review, Development and Reporting.
Two of the most significant changes are as follows:
- “A requirement was added to the Conduct section of the ETHICS RULE, stating that, prior to accepting an assignment (and if discovered at any time during the assignment), an appraiser must disclose to the client and in the report certification any services regarding the subject property performed by the appraiser within the prior three years, as an appraiser or in any other capacity.”
- “The appraiser’s obligation to allow a client access to his or her workfile when providing a Restricted Use Appraisal Report was removed.”
Present Value is a certified appraisal company and provides USPAP-compliant appraisal reports.
By: Present Value
Navigating Crucial Business Decisions in a Down Economy
In a down market, business owners tend to do one of three things: they close their doors, sit tight and ride out the storm, or capitalize on the opportunity. “One of the most important and most complex decisions that business owners have to make right now is whether to grow or retract in this economy,” said Chris Spinelli, co-founder of the appraisal company Present Value.
Some businesses may succumb to the downturn and will need to sell off assets in preparation for bankruptcy declaration. Others, still stinging from tax time, may simply be searching for ways to save on taxes next year. Still others may be considering an equipment purchase or an acquisition of a struggling business. Present Value can assist business owners in any of these three situations by conducting certified business or equipment appraisals.
“When planning their reactions to the current economy, it’s important for our clients to know the worth of their assets,” said Chris Kinzie, Present Value co-founder. The company recognizes that many of the regulations surrounding equipment appraisals and business valuations can be confusing, and Present Value seeks to provide its clients with the necessary information to help them make informed, prudent business decisions. “We want to help our clients not just make the next choice, but the best choice,” added Kinzie.
Check out our press release on Yahoo Finance: http://finance.yahoo.com/news/Present-Value-LLC-Helps-prnews-15133330.html?.v=1
By: Present Value
Present Value Introduction Video!
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How Much Does a Machinery & Equipment Appraisal Cost?
At Present Value LLC we typically quote our fee based on the amount of capital items that will be appraised. A capital item is a item that had an original cost basis of $2,000 to $2,500 or more. It is done this way as these items are typically the ones with the most amount of value. Items of lessor original cost basis are considered support items (shop, electronic, furniture) that are included in the appraisal in groups at no additional cost to the client.
Example:
XYZ Company provides Present Value with a asset list. After reviewing the asset list Present Value determines there are 200 total items with 30 capital items. 170 of these items are considered support items and will be placed in different groups and given value at no additional cost. The remaining 30 capital items will be appraised individually as line items. (30 capital items X $90 per capital item = $2,700. Total cost of appraisal $2,700.
For More information or to receive a quote on your next Certified Machinery & Equipment Appraisal please contact Present Value at 866 466 8555 of visit us at www.presentvaluellc.com
By: Chris Spinelli
Machinery & Equipment Appraisal Report Types!
SUMMARY APPRAISAL REPORT
A summary appraisal report is typically utilized for estimating the value of machinery and equipment. On-site inspection details are included in the appraisal report. This USPAP compliant report expresses value as a single figure for each tangible asset valued and the aggregate is reported as a single number.
DESKTOP APPRAISAL REPORT
A desktop appraisal report is typically used to determine value without the expense of an on-site inspection and detailed analysis of the condition of the machinery or equipment. You send us pictures and a brief description of the machinery or equipment and we provide a value based on this information.
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