Valuation of Fixed Assets for Accounting Purposes

Transcription

1 GEOMATICS AND ENVIRONMENTAL ENGINEERING Volume 2 Number Agesz Bed* Vluto of Fxed Assets f Accoutg Puroses 1. Itroducto Fxed ssets re elemets of comy s mterl ssets. They hve determed useful lfe whch s loger th oe yer, they re comlete d usble t the momet of brgg them to oerto, dested f the etty s ow eeds trsferred to other ettes o the bss of retl, lese other greemets of smlr d. Fxed ssets comrse rel roerty, mches d equmet, mes of trst d lvestoc. The rtcle dscusses the methods of fxed sset vluto exemlfed by rel roerty, mches d lces s well s mes of trst use t oe of eterrses locted er Krow Jury Fxed Asset Estmto Theetcl Cosdertos Bsed o the lyss of htherto methods of fxed sset ressessmet d clcultg ts derecble vlue (recded derecto) s well s o fxed ssets boo vlue d ther sellg rce lqudto vlue, s comred betwee umerous comes, fxed sset vlue ssessmet rocedure ws develoed. The rocedure cludes ssumto tht the ssessed fxed sset vlue should be er ts mret vlue. Followg the lyss erfmed, t ws stted tht the coeffcet (s ) djustg fxed sset boo vlue to ts mret vlue rges from 0.8 to 1.6 of the erod tht results from mxml derecto rtes, s rovded f by the Act o Cte Icome Tx. Therefe, the stdrd vlue of ths coeffcet f gve grou * Dertmet of Geomtcs, Fculty of Mg Surveyg d Evrometl Egeerg, AGH Uversty of Scece d Techology, Krow 13

2 14 A. Bed d d of fxed ssets should rse from weghted verge of regstered djustg coeffcet vlues, d hece, t should be determed ccdg to the followg fmul s 1 1 s (1) C s W rto of the fxed sset sellg rce to the boo vlue of fxed sset dexed by, recso weght relted to the umber of yers of ccoutg f ccumulted derecto, s results from the Act o Cte Icome Tx, s well s to the umber of yers of ts useful lfe. ST KST The weght vlue of objects, whch do ot dsly techcl dmges of ther lod-crryg structure, should be determed by the followg fmul l 2 (2) 1 umber of yers of totl ccumulted derecto of fxed sset, equl to the reverse rto of derecto rte, s set out the Act o Cte Icome Tx, umber of yers of fxed sset s useful lfe, clculted from the yer of the lst resttemet to the yer of vluto. Weghts thus determed shll te the followg crtcl vlues: f 0 l (3) 0 f 3 l (4) 3 F objects dslyg techcl dmge of the lod-crryg structures, the coeffcet of djustmet should be estmted by costructo exerts bsed o ther revew. I der to determe the mret rte (A s ) of the fxed sset vlue decrese, fmul hs bee doted such tht, s the useful lfe ccrues, the dowwrd

3 Vluto of Fxed Assets f Accoutg Puroses 15 tedecy of the decrese of the fxed sset vlue (wer d ter) cotues. At the sme tme, the vlue of the cosumto coeffcet the zero yer of useful lfe must equl 0, whle the ed yer of useful lfe ( ) t should equl 1, tht s: f =0; A s = 0, (5) f = ;A s = 1. (6) Codtos thus determed re fulflled by the logrthmc fucto, where the logrthm bse s defed by the djustmet coeffcet the fm of (1 s ). I coecto wth ssumtos (5) d (6), the fucto derved from the logrthm wth the bse of (1 s ) should be s follows becuse: A lg 1 (7) s f =0;As lg1s lgs 10, (8) s f s ; As lg1s lg 1s s ( 1 ) 1 (9) Therefe, the mret rto of the fxed sset cosumto fter yers of use wll lwys be defed by the followg equto A lg 1 s, (0 ) (10) The estmted vlue of the fxed sset (W ST ( ) ), fter yers of use, my be determed o the bss of ts tl vlue (W ST 0 ), ccdg to the followg fmul W W lg ( r ) ST ( ) ST 1 S 1 (11) 0 1 W ST 0 fxed sset tl vlue, s the gl vlue ccouted f, umber of yers of clculto of the totl ccumulted derecto of the fxed sset, umber of yers of the fxed sset s useful lfe clculted from the momet of ssembly moderzto utl the yer of vluto, r ctlzto rte of exedture relted to the cqusto of fxed ssets whch should be the rge from 8% to 12%.

4 16 A. Bed F the rctcl lcto of the bove equto, the defto of the turl logrthm (l) hs bee used, tht s l lg 1 s (12) l( 1 s ) thus l W W 1 ( 1 r ) (13) ST ( ) ST 0 l( 1 s ) The bove fmul shows tht the estmto of fxed ssets comes dow to the determto of the vlue of the followg rmeters: W ST 0 tl (gross) vlue of fxed sset, whch should clude the moetry exedture o the fxed sset mufcture, ts cqusto, ssembly d stllto costs s well s costs of rers d moderzto, umber of yers of the ccoutg f the ccumulted derecto, resultg from the uer derecto rtes s set out by the Act o Cte Icome Tx, s vlue of the coeffcet djustg the boo vlue to the mret vlue of fxed sset, umber of yers of fxed sset s useful lfe, clculted from the momet of cqusto, ssembly moderzto utl the determed yer of vluto, r ctlzto rte of exedture relted to the cqusto of fxed ssets whch should be the rge from 8% to 12%. If the (gross) tl vlue (W ST 0 ) of fxed sset s restted s the boo vlue W STK, the ccouted vlue of W STK d modfed fmul (13) eed to be used vluto of fxed ssets, tht s l W s W 1 ( 1 r ) (14) ST ( ) STK l( 1 s ) s coeffcet djustg the ressessed boo vlue of fxed sset, whch s determed by exert ccdg to equto (1), umber of yers of fxed sset s useful lfe, clculted from the yer P of the resttemet of the vlue to the determed yer of vluto.

5 Vluto of Fxed Assets f Accoutg Puroses 17 If the cqusto of fxed sset resttemet of ts vlue the vluto flls o the rte moth of determed yer, s o-teger umber. However, ths method cot be used f the estmto of ld s t s ot subject to derecto. 3. Prctcl Exmle of Fxed Asset Vluto By mes of the equtos (13) d (14) exmle clcultos hve bee erfmed. They re reseted tble 1 (o the terlef). 4. Determto of Tred Chges of Ld Prces Tme d Estmto of Ther Mret Vlue The mret vlue of ld hs bee djusted by coeffcet of trscto rce chges. Ths coeffcet ower fm hs bee clculted bsed o the lyss of smlr roerty. F the urose of the lyss of the mret stuto, model usg the followg equto shll be used cb b t (15) 0 c roerty ut rce, b 0 rmeter defg the fecst rce of roerty o the frst trscto dte ( moth zero), b rmeter defg the b0 mothly rce chge coeffcet, t umber of moths whch hve ssed utl the dte of the cosdered trscto relto to the frst trscto the bse. The estmto of b rmeter wll be erfmed usg the smlrty weghts of the roerty fetures, ccdg the Guss Mrov model, whch leds to the followg system of ml equtos: 1 1 t 1 1 t b0 2 t b 1 1 t l c l c (16)

6 18 A. Bed The smlrty weghts of the roerty fetures re clculted usg the followg equto r t rj j2 (17) where the dex s the umber of cosdered fetures d r t s the full crelto f the tme of trscto. The weght deeds o fetures whch re dfferet f the roerty beg vlued d bse roerty used f comrso. The b rmeter, defg the rotote chge the oe-moth rce, hs bee determed by the mtrx of ml equtos ccdg to the followg fmul b ex t l c t l c t t (18) The vlue of b rmeter exressed boml fm b ( 1 ) mes tht M the crese of oe-moth rce equls M. I der to clculte the coeffcet of 12 chges rces ( K ) durg oe yer (12 moths), the equto ( 1 ) ( 1 ) K M wll be used. The djustmet of trscto rces d mret vlues s erfmed ccdg to the followg equto: c c b ( ) tw t W W b ( ) tw t (19) The bove equtos hve bee relzed f bse of smlr roertes comrsg 23 roertes, whch were the object of trsctos the erod from August 2005 to Jury After relzto fmuls from (15) to (19) hve receved the followg vlue of rmeter b wht s goes to show: b = , tht rce crese f oe moth mouts M , tht s 2.72%. After reclcultg ths vlue f twelve moths (er um) hs receved ( 1 ) ( 1 ) ( ) R M.

7 Vluto of Fxed Assets f Accoutg Puroses 19 The bove exresso roves tht durg oe yer the ut rces of the cosdered roertes hve cresed by 37.97%. Assumto of two erods s suggested f the djustmet of ld roerty rces: II : ul rce crese 15%, 24 II : model W W W Refereces [1] Czj J.: Metody szcow wrtoœc ryowej tstrlej eruchomoœc [Methods of ssessg roerty mret d cdstrl vlue], KOMP-SYSTEM, Krow [2] Czj J., Przych P.: Szcowe ryowej wrtoœc eruchomoœc w sece mêdzyrodowych stdrdów wycey [Assessg mret vlue of roerty resect of tertol vluto stdrds]. Stowrzyszee Nuowe m. St. Stszc, Krow [3] Z³¹cz r 1 do Ustwy z d 27 lc 2002 r. o zme ustwy o odtu dochodowym od osób rwych: Wyz roczych stwe mtyzcyjych. Dz.U. z 2002 r. Nr 141, oz [Aedx 1 to the Act of 27 July 2002 medg the Act o Cte Icome Tx: The lst of ul derecto rtes. Jourl of Lws of 2002 No. 141, tem 1179)]. [4] Itertol Vluto Stdrds 2005 (Polsh edto). Pols Federcj Stowrzyszeñ Rzeczozwców Mj¹towych, Wrsw 2005.

8 Tble 1. Prctcl exmle of fxed sset vluto Item Clssfcto of Fxed Assets (KST) Ivety umber symbol [grou/subgrou/d] Fxed sset me Moth d yer of resttemet urchse Moth d yer of vluto Vlue of resttemet urchse W STK W ST 0 [PLN] Adjustg coeffcet s Derecto rte [%] Yers of totl ccumulted derecto 1 Yers of use fter resttemet urchse P Clcultos l 1 l( 1 s ) Ctlzto coeffcet Clcultos [8] [12] [13] [12] [13] Fxed sset vlue f the yer of vluto [PLN] /52/525 1/ROE-JE NDEREK Plster stg mche , % , /10/ Offce buldg , % , /10/ Producto hll , % , /76/762 23/ROE- HALA S F-lft truc , % , /58/581 90/ROE- HALA M Mxer , % , /31/310 57/ROE-S ZAT Heter % /80/801 94/ROE-L ABOR Lbty blce , % , /80/ /ROE- SPRZ Des , ,0 20.0% , /74/741 LEASIN G Psseger crs , % , /49/ /ROE- SPRZ Comuter , % , /80/ /ROE- PAL Xerox rter , % , /74/ /ROE- HALA S Lry , % ,985.08