This guidance examines in detail the many complex issues surrounding local authority property assets including classification, valuation and component accounting. It further explores these areas by providing practical examples based on real situations. Fully updated since the original 2012 edition, this new edition provides comprehensive guidance around the requirements of IFRS 13 for property asset valuations.
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Local authority asset valuations for capital accounting require input from both finance and property professionals. Over the years the two professions have not always worked as closely as they might in the process, resulting in each misunderstanding the other’s requirements, and a lack of clarity of purpose.
Written by finance and property experts at CIPFA, this publication enables local authority property and finance professionals to comply with the requirements of the CIPFA Code of Practice on Local Authority Accounting in the United Kingdom and the RICS Red Book in relation to the measurement and valuation of property assets.
Finance and property practitioners now have a handbook that bridges the gap between accounting and property requirements, and provides practical assistance towards compliance, whilst also highlighting common pitfalls that practitioners make in the asset valuation process.
The guidance examines in detail the many complex issues surrounding local authority property assets including classification, valuation and component accounting. It further explores these areas by providing practical examples based on real situations.
The practical assistance that this guidance offers will arm local authority professionals with clear and concise direction to ensure that property assets in local authorities are appropriately classified, properly valued and accurately depreciated, so that such assets are correctly and fairly stated in the accounts.
This publication is only available as an online version.
It has both searchable HTML and a bookmarked downloadable PDF of the publication that can be shared throughout your organisation. Customers will need to register and login to CIPFA’s website to access the publication.
Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA’s Publications Department.
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