- Providing services in the sphere of valuation and revaluation of industrial enterprises
- Appraisal of real estate of any kind
- Appraisal of cars, machinery and transport facilities
- Appraisal of intangible assets and intellectual property
- Appraisal of operating enterprise
- Organization of conferences and trainings in the sphere of property appraisal.
Appraisal activity is licensed on the Federal level in accordance with Russian Government decree 'About licensing of appraisal activity' N 395 of July, 7, 2002.
Appraisal activity is regulated by the Federal Law "About appraisal activity in Russian Federation" № 135-Federal Law of July, 29, 1998
Currently a wide range of applications of property appraisal has formed.
Appraisal can be appelied to any titles to the property of various kinds(right of ownership, item rights, obligations, worls and services). Four main kinds of appraisable objects are distinguished: real estate (incending allotments) movable property (mainly machinery and devices), intellectual property, and operating enterprise. In fact, any object, having monetary equivalent, can be considered as an object of appraisal. Flooding damage, for example.
Depending on the targets and purposes of appraisal, one specific kind of value is determined, e.g.: market value, replacement cost, liquidation value, mortgage value, insurable value and so on, all of them generally having different numerical (value for the same object. For example, replacement is determined for the purposes of revaluation of the fixed assets of an enterprise; liquidation value is required when the object is to be sold within a brief period of time (e.g. under the arrangements ofbankruptcy proceedings; insurable value only reflects the cost of reparation of damages incurred, and so on. For the most cases, however, only market value is determined.
During appraisal, calculations are performed using three well-established valuation techniques: comparison, cost, and income, each of them having a different scope of applicabillity for a given object of valuation and generally yield three different numerical values. Then on the base of validity of every of these approaches, the average total value of the object is deduced, as the weighted-average of these three values. The basic stages of valuation process are regulated by valuation standards, imposed by the Russian Government Act N 519 of July, 6, 2001.
The result of valuation is a valuation report. It is an official written document, formalized in accordance with appropriate rules and accepted for consideration by all subjects of valuation and government institutions.
Individuals and various legal entities can be valuation consumers.
The main objectives of independent valuation in the case of working with legal entities are the following:
- Purchase and sale of enterprise ( or its part - a block of shares), property, ground areas. As a rule, accounting departments need valuation to confirm the price of realization of fixed and other assets;
- Asset backed financing of the secured by real estate, machinery, inventories and other assets;
- Obligatory valuation of property investment into legal capital;;
- Revaluation of fixed assets for optimization of production costs and taxation. It is worth noticing that with Ch.25 of the Tax Code of the Russian Federation signed into law, revaluation for the above mentioned purposes are rendered obsolete. But there are still some certain problems, which can be solved by revaluation only;
- Reorganization / conversion of enterprises; a complex of problems arises in this case: valuation of share holdings during change of founders, assets valuation during a merger or , on the contrary, separation of new enterprises, sale of surplus assets, determination of liquidation value and so on…;
- Property valuation for insurance;
- Valuation and expert examination for taking investment decisions;
- Valuation for the purposes of antirecessionary management in all the stages, including property realization in the stage of competitive production;
- Valuation for realization of right of requirement, including foreclosure on the debtor's property;
- Valuation of damage caused;
- Working out and expert examination of business-plans and investment projects - an activity allied to valuation;
- Valuation of lease rates for non-residential real estate.
The following problems are important for individuals:
- Division of property during divorce suits;
- Property disputes during inheritance;
- Reparation of damages in case of flooding, poor quality services, car accidents and other incidents;
- Mortgage loans;
- In some cases - purchase and sale of property.
Problems faced by individuals are as a rule solved by courts, where it is impotant to assure that experienced lawyers efficiently cooperate with qualified expert appraisers. Assessoring Сonsulting Сompany " Bagira-Expert" provides the most optimal ways of settlement of problems of this kind.
Currently we rely on the price-lists of organizations, participating in Partnership of Russian Society of Appraisers, which are published on the site of RAO "UES of Russia" (www.rao-ees.ru)
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