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IFRS 13: Fair Value Measurement

During the past few years there have been many changes in financial reporting rules in EU countries. One significant change from the property point of view has taken place in the balance sheets, where the property investment account has been switched to the asset side of the balance sheet, separate from property, plant and equipment.

Since 2005, all companies listed in the stock market have an obligation to apply International Accounting Standards / International Financial Reporting Standards (IAS / IFRS) to their everyday practice.

In May 2011 the International Accounting Standards Board issued the IFRS 13 Fair Value Measurement.

This standard sets out, in one location, the IFRS fair value measurement and disclosure requirements. It defines fair value, sets out a framework for measuring fair value and requires disclosures about fair value measurements. It does not add any new fair value measurements to those already required by other standards.

The new standard applies to annual periods beginning on or after 1 January 2013, although earlier application is permitted. For EU entities, endorsement of the new standard by the EU is required in order to be able to apply it; this can take up to a year or possibly longer.

SPR offers Balance Sheet Valuation (Fair Value) in accordance with International Financial Reporting Standards (IFRS) and international property valuation standards – click here for more information.

Pragmatic Building Energy Rating

We already offer property surveys, market valuations, (EPCs), energy assessments, for residential, commercial and public buildings. In addition we now offer investors, or owners of single buildings right through to large property portfolios, a comprehensive and pragmatic building energy rating for the purpose of aiding the assessment of the risk of future or pending decisions.

In an on-site inspection, the condition of the building is recorded and documented.

With regards to legal requirements and energy considerations, the result will be evaluated in a report to show potential or investment risks - click here for more informations.