Asset Value Management

Syllabus

Thematic definition of lectures: 1. Introduction to asset value management. Basic principles and procedures for valuing assets, revaluation of assets according to applicable legislation and accounting regulations - objectification of asset value, Transfer valuation - principles, methods and use in practice, expertise and expertise aimed at objectifying the value of assets and its application in practice 2. Valuation of assets at fair (market) value according to accounting regulations - acquisition price, own costs, reproduction acquisition value, nominal value, fair value. Explanation of basic principles and valuation procedures according to accounting regulations. 3. Purposes of fair value measurement according to the Accounting Act, principles and procedures for determining the fair (market) price, value determined by the valuation model, expert opinion. Determination of fair value, which is the market value or a qualified estimate or expert opinion 4. International valuation standards IVSC and expert activity in the field of valuation (determination of general value) in the conditions of the Slovak Republic. Organizational structure of the Council for International Valuation Standards (IVS), objectives and methodology, creation of a framework for uniformity and procedures, content, purpose and form of assessment, RICS Code of Ethics. Red Book - Global Standards and Major Changes in the Current Edition Expert activity, expert, expert opinion, form and requisites, methods used to determine the general value of property 5. Real estate appraisal - land and buildings. Determination of the general (market) value of real estate - method of positional differentiation, yield and comparison method, collection of information and documents, application in practice Valuation - comparative, substantive and liquidation method, rating method, valuation and residual value, combined value method, various cost values 6. Valuation of machines, machinery and electrical equipment, classification and valuation methods, accounting regulations, expert regulations and international valuation standards 7. Valuation of means of transport, classification of means of transport, methods and procedures of valuation, accounting regulations, expert regulations and international valuation (valuation) standards 8. Valuation of securities, definition and classification, methods, principles and procedures, current (market) value of shares, business shares 9. Evaluation of receivables from the economic, accounting and legal point of view, categorization of receivables - current, doubtful (dubious), disputed, blocked and expired. Receivables valuation methods - method of financial-economic analysis of the debtor (rating method), method of criteria division into groups (bank classification model), method of differential enforceability, principles and procedures of valuation of receivables. 10. Valuation of inventories from an economic point of view, from the point of view of accounting and within IFRS - IAS 2 standard inventory, classification of inventories according to valid legislation in SR and international standards, methods, principles and procedures, activity indicators - turnover, turnaround time and turnover rate and their impact on value 11. Transfer pricing, rules and principles, transfer documentation, market analyzes, tax aspects, risk and problem management 12. International standardization of property valuation and its principles, conditions and initiatives of international standardization, Council for International Valuation of Standards, organizational structure of the Council for International Valuation Standards, focus of standards, scope of implementation, division of standards, Red Paper - Global Standards and the most fundamental changes in the current edition , European Valuation Standards (EVS), The European Group of Valuers Associations (TEGoVA) 13. Issues of environmental debt assessment, environmental burden - determination, extent of disposal and related costs, methods of measuring environmental debt, evaluation of risks and burdens in the environment, costs of environmental damage removal, time consuming, contamination surveys. Thematic definition of exercises: 1. Introduction to the subject, acquaintance of students with the conditions for obtaining credit. Definition of basic concepts in objectifying the value of assets, objectifying the value of assets for accounting operations, transfer operations, expert valuation and according to international valuation standards, application in practice, which is addressed in detail in subsequent exercises 2. Valuation and revaluation in accounting; transfer documentation; analysis of the development of the primary and secondary asset market, factors influencing it, tax aspects and impacts 3. European Valuation Standards (EVS), issued by the international association TEGoVA in the so-called Blue Book, should contribute to a more objective estimate of the market value of assets. Red Book - Global Standards and Major Changes in the Current Edition (2019) 4. Valuation of assets according to valid regulations in the Slovak Republic. Expert activity, expert, expert opinion, form and requisites, methods used to determine the general value of property 5. Real estate appraisal - land and buildings. Determination of general (market) value of real estate - method of positional differentiation, yield and comparison method, collection of information and documents, application in practice. Valuation - comparative, substantive and liquidation method, rating method, valuation and residual value, combined value method, various cost values 6. Evaluation of machines, machinery and electrical equipment, classification 7. Evaluation of means of transport, division into railways, aircraft and ships. Valuation procedures and factors that affect the resulting market value. Historic vehicles and their values (collector's) 8. Valuation of securities, definition and classification, methods, principles and procedures, current (market) value of shares, business shares 9. Valuation of receivables, methods of valuation of receivables - method of financial and economic analysis of the debtor (rating method), method of criteria division into groups (bank classification model), method of differential enforceability, practical examples from practice. 10. Inventory evaluation, methods, principles and procedures. Breakdown of inventories according to the legal regulation of accounting in the Slovak Republic in accordance with Act no. 431/2002 Coll. on accounting and international accounting standards General values of stocks according to evaluation regulations, coefficient of objectification of the value of stocks 11. Current structure and content of European valuation standards (EVS) - to explain that they are more general in valuation, they explain the basic concepts and assumptions of valuation, they determine the qualification requirements for experts and the requirements for expert opinions. 12. Continuous written exam 13. Evaluation of seminar papers and continuous written exam.