Accountants and auditors

Property, plant and machinery are vital components of balance sheets for annual reporting purposes, company flotations and Stock Exchange listing requirements.

Accountants and auditors, in briefing API members on matters which must be considered, will now be able to make specific reference in the on-line manual to the appropriate accounting headings.

The manual covers aspects such as valuation bases other than market value, valuation for financial reporting, valuation of intangible assets and plant and machinery, specialised trading properties such as hotels, extractive industries and prospectus valuations.