In the framework of civil turnover, it is often necessary to assess any property. Such activities are carried out by professionals - experts. At the same time, they are guided by the FSO - federal assessment standards. These regulations enshrined the rules and requirements, the main methods and approaches used in the activities of specialists. Let us further consider the main provisions of state standards of assessment.
General concepts
The Professional Assessment Standard explains the basic terms used in the activity. These include, in particular:
- Valuation Objects. They are called property and rights to it, participating in civil turnover.
- Assessment Approach. They call them a set of techniques united by a common methodology. The evaluation method is a sequence of procedures by which the value of an object is determined within the framework of one of the approaches.
- Price. It represents the amount of money offered, requested, paid by the parties on a transaction made or proposed.
- The cost of the facility. It is understood as the most probable calculated value determined on the date of assessment in accordance with the selected type on the basis of the requirements of the Russian valuation standard No. 2.
- The total amount of the cost. It is calculated using the approaches established by the FSO to evaluate and generalize (agree) the results obtained during their application, justified by the appraiser.
The approaches
The Federal Standards for Evaluation uses three sets of methods:
- Comparative. It is based on a comparison of the object undergoing evaluation with analogues. Within the framework of this approach, various methods can be used, including those based on direct comparison and research of market statistics. It is advisable to apply if there is sufficient information about the characteristics and prices of analogues.
- Profitable. It is a set of methods by which the expected profit from the use of the object is determined. It consists of techniques based on discounting cash flows and capitalization of income. Such an approach is advisable if analysts have reliable information at their disposal to predict upcoming revenues and possible costs.
- Costly. It involves the determination of the cost of the acquisition, replacement or reproduction of an object, taking into account depreciation. When applying it, the costs of creating an exact copy or object with comparable useful properties are calculated. Criteria for recognizing objects as such are established in the Assessment Standard, which sets out individual requirements for the analysis of a specific list of objects or for special purposes.
The task
In accordance with the Evaluation Standards, it acts as an integral element of the contract between the specialist and the customer. The task must contain the following information:
- An object.
- Rights to the subject to be valued, taken into account when calculating its value.
- Goal.
- Intended use of the results of the procedure.
- Type of value.
- Assumptions.
- Date of assessment.
- Other data provided by the FSO.
Additional requirements may be governed by the appropriate type of Evaluation Standard.
Stages
The assessment is carried out in several stages:
- An agreement is concluded between the customer and the specialist. Its contents must contain a task.
- Information needed for the assessment is collected and analyzed.
- The necessary approaches and methods are applied, calculations are carried out.
- If necessary, the results are agreed upon, and the total value of the property is determined.
- A report is being compiled.
The specialist can independently determine the appropriateness of applying one or another approach and specific methods.
Nuances
According to the Evaluation Standard, if during the procedure several approaches or methods were used within the framework of any one of them, preliminary results are agreed upon. This is necessary to determine intermediate indicators. If they differ significantly, the report describes the analysis and the reason for the discrepancies.
A deviation is considered significant, in which the result obtained by a specialist goes beyond the range of the cost determined using another trip.
Goal and result
The assessment is carried out to determine the value of the object. The result can be used by the parties in determining the price of the contract.
The value of the object is an essential condition for the sale, pledging or leasing, lending, insurance. It is used when making a contribution to the capital of a business company, for tax purposes, when preparing financial statements, privatizing property, reorganizing an enterprise, resolving disputes, etc.
Types of FSO
Compliance with the Evaluation Standards is necessary in determining the cost
- Real estate.
- Business.
- For collateral purposes.
- Equipment and machinery.
- Intellectual property and intangible assets.
Types of objects
They vary depending on the purpose of the Assessment Standard. FSO can be used to determine the value of:
- Immovable property. These include structures / buildings, land plots (built-up and vacant), residential / non-residential premises (individually or in aggregate), taking into account property rights associated with them. Objects may also be shares in the law.
- Shares, shares, contributions to the authorized capital.
- Property complex of the enterprise or its part.
- Objects of rights in respect of which, in accordance with applicable law, it is possible to participate in a turnover and a pledge.
- Units of equipment acting as engineering products or similar objects, equipment, its parts (individually or in aggregate).
- Ships / aircraft, spacecraft, waterborne vehicles used for inland navigation, subject to state registration.
Property Valuation Requirements
During the collection of information about the object, the specialist or his representative inspects during the period as close as possible to the date the cost was determined, unless otherwise specified by the assignment.
If the survey has not been carried out, the appraiser is obliged to indicate in the report the reasons why this happened, the limitations and assumptions associated with the failure to perform the inspection.
A comprehensive study of the site and capital construction facilities located on it, in the absence of title documents, is carried out taking into account the obligations and rights of the owner, provided for in the current law, the typical behavior of the legal owners of similar real estate.
Valuation Rules for Pledges
When concluding an agreement with a specialist, the customer can notify him of a potential or existing mortgagee. If the latter makes publicly available special requirements consistent with the law and the requirements of the FSO, the appraiser informs the customer about them. At the same time, he must take them into account if the corresponding instruction is contained in the assignment.
When evaluating to transfer property as collateral, the specialist determines the market value of the object. Additionally, the investment or liquidation price can be calculated if the corresponding condition is contained in the task.
When determining the value of a complex of property (objects connected by a single functional purpose), an analysis of the possible independent functioning and sale of values from other assets included in it is mandatory.
Report
In it, the appraiser indicates the final indicator of the value of the object. In addition to this information, he has the right to make his own judgments about the permissible limits, in which, as he believes, the price may be, unless the task provides otherwise.
The total amount of value is expressed in rubles.