International Estimation Standard 1 brief. International and national evaluation standards. Basic accents report

International organizations dealing with standardization problems, three: International Organization for Standardization - Pico ( ISO. ), International Electrotechnical Commission - IEC ( IEC. ), International Telecommunication Union - ITU ( ITU. ). Products of their activities are international standards, recommendations, technical reports and other scientific and technical products.

ISO - The largest and most authoritative organization, the main purpose of which is formulated in its charter: "... Promoting the development of standardization on a global scale to ensure international trade and mutual assistance, as well as to expand cooperation in the areas of intellectual, scientific, technical and technical and economical Activity.

The main purpose of international standards is the creation of a single methodological basis for the development of new (and improving current) quality systems and their certification.

Standards ISO, The accumulating scientific and technical experience of many countries are aimed at ensuring the unity of requirements for products serving the subject of international commodity exchange (including the issues of interchangeability of components, uniform test methods and product quality assessment). ISO International Standards Users - Industrial and business circles, governmental and non-governmental organizations, consumers and society as a whole.

International Standards ISO do not have the status of mandatory For all participating countries. Any country has the right to apply or not to apply them. Solving the issue of applying international standard ISO. It is mainly due to the degree of participation of the country in the international division of labor and the state of its foreign trade. Although international standards are developed on the basis of consensus and voluntary recognition of the requirements laid in them, in practice, the compliance of the products that are essentially necessary, since it is recognized criterion of competitiveness and admission to the international market.

At the same time, in contrast to products at the moment, still remain uncorrected even at the international level (within the framework of activity ISO. ) Such standards such as regulatory documents and their indicators for such types of standardization objects, such as processes (work) and services to which assessment can be attributed.

Let us now consider more than those estimated standards of various levels for which the appraiser obliges to navigate in its direct practical activity.

International Evaluation Standards

It is important that the professional appraiser builds an analysis and reported its conclusions and recommendations to the client in an understanding and not misleading form. So, MSO is designed to reflect the current requirements for an appraiser in a hundred professional activity.

Since its foundation, MSO was a collective thought, experience and professional judgments of appraisers of more than 50 countries. For the first time published in 1985 and since then many times undergoing changes, MSO, as stated, based on the principle of historical development of a professional assessment disciplines, which covers many decades, as well as at the work of the International Committee on Property Evaluation Standards (MKSO) since its Education In 1981, the Committee put on its main tasks:

give clearer formulations of various assessment databases;
emphasize the differences between the assessment pursued in order to verify the financial documentation or reporting and the assessment carried out under other circumstances;
clarify the terminology allowing the ambiguity of interpretation at the international level;
Create the necessary introductory material that allows you to achieve a better understanding and more efficient use of the aforementioned MSO.

Standards describe the procedures to follow when assessing, verifying the results of the assessment or implementation of consulting services, as well as formulate requirements for the form of an assessment results.

Each standard corresponds to a certain class of situations relating to the assessment process. Despite the fact that the standard can be published as a separate group of sections, in fact, is an integral part of the whole.

Definitions, preliminary comments, concepts and principles of evaluation Along with other common elements should be considered as an integral part of each standard.

To solve the tasks, the standard contains the following sections.

1. Introduction.
2. Application area.
3. Definitions.
4. Relationship with accounting standards.
5. Formulation of the standard.
6. Remarks.
7. Requirements for the presentation of the actual material.
8. Terms of retreat from the standard.
9. The date of entry into force.

Thus, MSO is designed for appraisers and users by assessing services that should require that the assessment work is carried out in accurately compliance with these standards and national standards approved at the state level.

Bearing in mind the reasons for the need for standardization in the development concept, it is worth paying closer attention to the consideration of the MSO assessment in their transfer version in an affordable version of 2003. This seems all the more important that at the legislative level it was originally assumed that Russian state standards were initially assumed will be developed on the basis of MSO.

Indeed, it was believed that "the use of MSO as a basis for the development of a FSO will allow to implement appraisal activities in the Russian Federation internationally recognized principles of Evaluation In order to create conditions for the gradual release of Russian enterprises to international markets, the capitalization of Russian companies, foreign investment will contribute to the growth of Russian companies and thereby contribute to the overall development of the Russian economy. In turn, the FSO should take into account the specifics of the Russian estimated services market, the experience of Russian appraisers accumulated during the formation of the market of assessment services. In accordance with this, the formation of the FSO system is planned to be carried out by incorporateing MSO into the legislation of Russia and adapting them to the Russian conditions of evaluating activities. "

Note that in the Russian state standardization system (GSS), the following procedure for the introduction of international standards was adopted:

Direct application of international standard without inclusion of additional requirements;
Using the authentic text of an international standard with additional requirements reflecting the needs of the national economy.

Indeed, international standardization allows you to save time and funds necessary to develop national standards, and thus the development of international standardization predetermines the development of standardization of national. Unfortunately, this cannot be said about MSO, which, despite its name, are not products ISO. and do not correspond to the level of standards ISO. This is not an impeccable document to whom it should follow, since the level of quality of authentic translation

MSO (the presence of a large number of stylistic and logical shortcomings), conflict with the regulatory framework of the Russian Federation in terms of the definitions of a number of legal concepts, not quite adequate reflection of the theory of assessment - all this displays this document beyond its admissibility for standardization purposes. These problems make it impossible to follow the established procedure for the introduction of international standards in Russia against MSO.

That is why, apparently, the decision on the development of FSO based on MSO was later changed by officials of the Ministry of Economic Development of the Russian Federation engaged in the development of FSO. Thus, in the text of the first adopted (basic) federal standards, a sufficiently evasive wording appeared - "taking into account international assessment standards." And here does not focus our attention on what specifically international standards are we talking about, since the word "international" is written with a small letter.

Indeed, in the text of the transfer of MSO there are far from professional expressions of the type "Time of Exhibition", "object object", "Comparative cost approach", "comparative profitable approach", "Vigilance of the appraiser", "Evaluator's Safety", "Determination" and "Harvesting "(instead of physical wear)," intangible (?!) Cost "(as if there is a" tangible ").

In the Glossary attached to the MSO, you can meet theoretically illiterate and stylistically flawed definitions, for example:

"Servitu - the non-incarnational right in land property, transmitting the right to use, but not the right of ownership, part of the property. "For comparison, a clear definition in the Civil Code of the Russian Federation:" Servitut - the right of limited use of a stranger land plot "(real estate property).

"Cost price, On which, most likely ... ". This definition negates the work of teachers of estimated disciplines and" signs "the economic theory, arguing that the" price "and" cost "is not the same thing.

In paragraph 3.0 "Definitions" of the Methodological Guide (MR-5) "The assessment of the value of movable (personal) property" Read:

"3.6. Personal movable property. In some states, the term is used for identifiable, portable and tangible items, which the public considers real estate. see also Personal property. "

This, with the permission to say, "definition", appealing to unprofessional misconceptions of the public (and with reference to the non-existent footnote), has no scientific content. Such statements are not a place in regulatory and methodological documents claiming to be considered a benchmark.

The above examples and arguments are sufficient to draw the following conclusions.

1. At the present stage, the MSO will not be recognized as the "latest achievements of world science" and the reflection of the "best" appraisal practice, as they are stated.
2. MSO translation options (be it 2003 or 2005, as well as later) in this form can not serve as the basis for creating national standards of assessment, since we are torn off from the Russian legal field.
3. For documents of this level in them, too many stylistic, logical and spelling errors.

Since 2000, in the estimated community, the "critical mass" of dissatisfaction with constantly "modifiable" MSO has matured, which naturally passed into the stage of open public criticism. This is confirmed by the following statements in the media:

"According to the results of the analysis of international and European standards, we can say that they are created in a completely different legal field, having a little common with Russian. If we are imposed on some simplified standards on the basis of international, then for appraisers it will be a big misfortune. Moreover, many years of experience in direct application of international standards in one of the self-regulatory organizations is available, and it cannot be said that it is definitely positive, but rather the opposite. "

"Intention some professional associations of Russia use in estimated international activities (Mso ) or European (Eco. ) evaluation Standards (as "the most perfect ” ), applying the so-called cover method, to put it mildly, is surprising. Professional appraisers should adapt international evaluation standards for Russian reality, thereby enriching the national standards currently used. "

US Evaluation Standards

Unified Standards of Professional Evaluation Practice ( Uniform Standards of Professional Appraisal Practice, USPAP )Mandatory For use in the US and other countries, refer to the category of regional. Developed and approved by the Council on Standards Evaluation Standards Assessment - a non-profit educational organization, founded in 1987 by the leading professional organizations of the United States (Institute of Evaluation, American Society of Appraisers, National Assessment Master Association) to achieve uniformity and professionalism in the assessment.

IN USPAP Presented:

- conditions that must be followed in evaluating, verifying the evaluation report or the provision of advisory services;
- Methods that produce an assessment, revision or advisory services.

Standards 1 and 2 Regulate the evaluation process and drawing up a real estate evaluation report. Standard 3. Sets the values \u200b\u200bof verification (examination) of evaluation and reporting reports on the basis of these norms. Standards 4 and 5aims to develop and summarize advisory functions appraiser but real estate assessment. Standard 6. Sets the necessary criteria for developing and reporting results on a mass assessment for the purpose of taxation of real estate or any other types of ownership. Standards 7 and 8 Set the rules for the process of assessing and making a personal assessment report (movable) property. Standards 9 and 10 establish rules for assessing business.

Standards include a provision on the assessment standards issued by the Evaluation Standards Committee for Clearing, Interpretation, Interpretation, or Standards Development or Standards Rules.

Explanatory comments - an integral part of uniform standards and should be considered as an interpretation to the positions, definitions or rules of standards. Comments are not attached to the provisions, definitions or rules of standards that are axiomatic or do not require further clarification.

An important role in the activities of the appraiser occupies ethical obligations. Standards contain explanatory comments and begin with Ethics provisions which include four sections: behavior, management, confidentiality and reporting - and determine the requirements of integrity, objectivity, independence of judgment and ethical behavior. Additionally, these standards have Regulations on competence, impose direct responsibility for the appraiser before making a decision. Also included the definitions of a number of basic concepts for standards data. Standards contain both mandatory and specific requirements for which under certain limited conditions are applicable. Propositions.

In addition to ten standard rules USPAP also include documents on standards that specifically serve to simplify, interpretations, explanations or improvement USPAP.

To disadvantages USPAP The congestion of the structure should be related (presence besides the standards of numerous comments, provisions, definitions, rules, etc.), as well as the availability of logical problems in a number of definitions of basic concepts. However, standards USPAP-2005. give an example of a clear presentation of the material specifically in directions appraisal activities. Thus, neglect the uniform standards of the US professional evaluation practice USPAP-2005. As a possible source and alternative to MSO, the base in the preparation of national assessment standards was not necessary.

Analysis of publications in the media says the same:

"Agreeing as a whole, with the need to transition to self-regulation of appraisal activities, the continuity of the continuity of the continuity of innovation in relation to the current state regulation system, representatives of the evaluation community express concerns about the alleged national assessment standards. In particular, in December 2004, the Russian appraisers (ROO) presented A new set of standards, which is proposed as a basis for approval as mandatory for all appraisers of Russia. This arch is created as a result of the adaptation of MSO. However, there is an opinion that it would be advisable to adopt the standards of professional practicing USPAP (unified standards of professional evaluation practice) " .

"... urgently needed consider the standards of all estimated communities operating in Russia, including international, In order to develop national evaluation standards (NSO). "

European Evaluation Standards

European Evaluation Standards (ECO) are also representatives of international regional standards. Annotation available in the "Printed Publications" heading site appraisal.am reports that new ECO 2000 has been adopted, and characterizes their fourth edition.

Presentation of new European Valuation Standards , EVS. (ECO 2000) took place on November 8, 2000 in Brussels in the framework of the General Assembly of the European Assertainment Associations, EGAO ( The European Group of Valuers Associations, Tegova ). Standards are mandatory for the use of European Union countries (EU), which should lead national standards in line with ECO 2000. EU system of appraisers approved by EGAO ( APPROVED by TEGOVA ), also built on the basis of ECO 2000.

The fourth edition of ECO 2000 includes directly standards, manuals and applications.

Standards consider the most general principles and methods used in the estimated procedures.

Standard 1. Compliance with ECO 2000 other documents and legislative acts. The relationship with MSO and the EU laws, as well as national standards and legislation, is considered.

Standard 2.Qualified appraiser. The requirements imposed on the appraiser of EU legislation and national legislation, professional organizations. The norms of relationships between the appraiser and the client, the appraiser and the auditor are indicated, the professional code of the appraiser is set out.

Standard 3.Task for evaluation. Conditions of standard and non-standard assignment tasks are considered.

Standard 4. Evaluation databases. The basic principles used in the assessment, standard evaluation bases are described; Definitions of various types of values \u200b\u200b(market, fair, cost in use, etc.).

Standard 5.Evaluation for financial statements. The classification of assets, grounds for selecting a particular assessment base, information disclosure requirements in the assessment results report. The standard also contains a section that covers the issues of the assessment methodology, the features of land valuation, buildings, as well as the features of the assessment of special objects.

Standard 6.Assessment of bank securities; Evaluation conducted in connection with the release of securities package. The databases applied in this case are indicated, the specific duties of the appraiser arising from such an assessment. Deals with the problems of real estate assessment as collateral, as well as other pledge items for mortgage lending. The definitions of such concepts as the "collateral value", the "special cost of obligations", as well as special requirements for the appraiser, such as its independence, responsibility and availability of special knowledge. Standard requires an appraiser in the process of assessing to take into account the presence of toxic substances. The issues of property evaluation occupied by the owner or is an investment object, as well as the problems of assessment related to forced sale. The definitions of various types of property are given (investment, estimated on the basis of its sales potential, etc.), as well as liquidation cost.

Standard 7.Forecasts given by the appraiser. Some types of evaluation. It is devoted to estimates related to the estimated cost of a future date, and the estimated estimates. The importance of forecasts in the work of the appraiser is emphasized, the form of their presentation and requirements for them is determined. The concepts such as the Investment Cost are disclosed, "Evaluation for a specific date in the future", "Prediction of the future value". The concept of value is given with existing use, the concept of a retrospective assessment is given (at the date in the past) and estimates in the conditions of the forced sale of the object.

Standard 8.Estimation for investment. Deals with the issue of investment in securities of investment and insurance companies and pension funds. Considered issues related to the definition of market value in accordance with EU Directives, as well as issues of assessment methodology for investment purposes, appraiser qualifications. The requirements for the evaluation procedure are given, the definitions and methodology of assessing insurance companies, pension funds, etc.

Standard 9.Report on the assessment. Considered issues related to the presentation of the assessment results, and the form of an assessment certificate. Report requirements are given, items are specified that should be contained in the evaluation report.

In addition to the submitted ECO 2000 standards, there are also 13 manuals for them, giving instructions on the interpretation and practical use of the general principles and methods set out in the standards. The following methodological guidelines are among the assessment:

1) factors affecting the cost;
2) evaluation of special objects;
3) Evaluation of machinery and equipment;
4) an assessment of assets intended for investment;
5) assessment of agricultural objects;
6) assessment of historical objects;
7) business assessment;
8) Assessment of intangible assets;
9) assessment of real estate indices;
10) international estimates;
11) Assessment of joint ventures and limited liability companies;
12) the distribution of the cost between land and buildings;
13) Features of the rating in various countries.

In addition, ECO 2000 contains nine applications with additional information on an appraiser. For example, appraiser certification requirements, issues related to reviewing evaluation reports and ethics appraiser, examples of assignment tasks, Glossary of terms used in assessment and related disciplines.

Note that the assessment for tax purposes and forced alienation of ownership is not the subject of ECO. However, the general principles set out in them can be applied in cases where there is no other specific manual. One of the main features of ECO is their assessment orientation, performed for the purposes of compiling financial accounting reporting in accordance with adopted European legislation.

I would like to note some "ammunition" of Europeans in standards but attitude to the classical theory of evaluation. For example, in ECO estimates in ECO, such a classification of estimated wear / obsolesses appeared:

"(i. ) economic obsolescence - takes into account the actual service life, condition as the result of physical wear, partial or complete loss of quality, which are the result of the flow of time or past exploitation, and the likely cost of future use costs and the need for maintenance costs in comparison with modern replacement objects;

(iI. ) functional obsolescence - takes into account the suitability for the current use and the prospects for its continuation or for some other use of a permanent enterprise. For example, an object created or adapted for specialized use, including specific production processes, may have an obvious useful life of a slightly longer than the provided for actual production;
(iII ) strategic obsolescence - Based on strategic solutions, the company is able to make a certain production outdated at any time, and therefore machines and equipment used in the process. This may affect all the production or part of it, even if the equipment, machines and mechanisms could have the cost for other production or for the same production, if such a strategic solution was not accepted;
(iV ) environmental obsolescence - The existing use and currently used technology should be considered in the context of the actual and reasonable alleged local national and supranational regulation, legislative, policy provisions and / or monitoring planning, environmental and pollution, as well as taking into account waste disposal policies ".

What are the consequences of such "amateur"?

1. The new, verbose and fuzzy definitions of obsolesses are formulated, which is difficult to call the contribution to the development of evaluation science.
2. The entered economic obsolescence "similar" with physical (estimated) wear, but at the same time uses the interpretation of "physical wear" in the technical sense that exists in machine-to-manifestation is not in the evaluation. The entered environmental obsolescence "similar" with economic obsolescence. The use of such "definitions" will make an inevitable confusion when assessing practicing appraisers. "Similar" here it is quite possible to interpret and as a spoiled traditional definition.
3. The introduced series of obsolesses is not a complete system. The system cannot be full when the unified principle of its construction is not allocated. It can "be completed" by unlimited other types of invented obsolesses, which will lead to the impossibility of taking into account all these species in practice.
4. The introduced "system" of obsolesses in the absence of a single principle of constructing the system will lead to double accounting of these types of obsolesses in practice.

In general, the ECO analysis shows the existence of the terminological and methodological differences in the European appraisal science from the theory of assessment studied in Russia, and also identifies insufficient development (especially with regard to business assessment) and the lag of the standardization process even compared to MSO.

In fact, it is not a secret that in the assessment (especially business) Europe is somewhat lagging behind the United States. If in the UK, Germany, Italy, Greece has accumulated a certain experience of assessing real estate and movable property, implemented there by surveyors, land surveyors and notaries, which now call them appraisers, the field of activity in the field of business assessment there is firmly occupied by the leading consulting and audit companies ( Deloitte & Touche. , Emst & Young, KPMG et al.), whose specialists, working in any country, are trained and follow the classical theory of assessment and American experience. Bolshaya, the appraisers of Russia mastered their profession on the materials of the workshop of the World Bank, who had the basis for the Russian appraisal science, and the level of preparation currently Russian business appraisers (thanks to the activities of relevant educational universities and the approval of serious retraining programs), no matter what, on The order is higher than their colleagues from Europe.

From the preamble of MSO, expressing their mission.
Now the Committee has a shortened abbreviation - MKSO, which is associated with the expansion of the initial spectrum of assessment objects.

Petrov B. I.

Fate evaluation: strict requirements, new standards // Economic strategies. 2005. No. 2. P. 57.
Silvestrov S. (Prof., Dr. Econ. Sciences, Honored Economist of Russia, Actual State Counselor, Chairman of the Supervisory Board of NP NLSOD). From consolidation - to the development of the legislative base // Economic strategies. 2005. No. 2. S. 47 (authoring author).
This type of value is not estimated, and it should be attributed to Standard 5, and the cost of use is not the view, but the type of estimated value. The problems associated with classifications are characteristic of both ECO and MSO (see also subparagraph 3.5.1).
It is strange that the definition of liquidation cost is given in the previous standard 6.
Unlike the classical (American) assessment theory, where such a principle exists, it consists in identifying sources / causes of wear / obsolesium and allows you to allocate the system of independent types of wear / obsolesia.
Historically, Lloyd Insurance Inspectors But Maritime Transportation.

In their professional activities, Russian appraisers are obliged to adhere to Russian federal evaluation standards (FSO). However, for individual assessment purposes, they can also use other generally accepted manuals:

1. International Estimation Standards (MSO). Developed in 1994. Now used by the editorial office "MSO-2011".

2. American Evaluation Standards (USPAP) - "Unified standards of professional valuation activities"). Developed and approved in 1989.

3. European evaluation standards. Developed by the European Group of Valuers Associations (TEGOVA) appraisers. Developed and published in 1980.

4. British Standards EvaluationRICS.(The Royal Institution of Chartered Surveyors) - "Standards of the British Royal Society of Surveyors." RICS is the largest international organization of real estate professionals. For the first time published in 1976.

In Russia, the first rules for appraisers appeared with the federal law "On appraisal activities" in 1998. But in fact, the first standards were taken later, in 2001. To date, 11 federal standards operate in the Russian Federation, which, together with the Evaluation Law, describe the general provisions in the assessment, appraiser requirements, evaluation company, the evaluation report and recommendations for evaluating specific assessment objects.

Nevertheless, the Russian appraisal community repeatedly recognized that the approved list of standards is insufficient for regulation and development of the profession. This topic deals with many articles in our section "Methodology" (insert a link), where the preamble speaks directly: "Despite the fact that the legislation on appraisal activity changes, the system of Russian standardization does not comply with the requirements of international evaluation standards and does not fully solve the problem Estimates in our country. "

It is possible to harmonize between foreign and Russian assessment standards, we asked to speculate our experts. The conversation turned out to be very emotional, because the topic is quite burning.

Vyacheslav Vladimirovich Shchirin, Director of the Construction Institute (Ural Federal University), Head of the Department "Industrial, Civil Engineering and Real Estate Examination", Candidate of Economic Sciences, a practicing appraiser since 1993:

"In my opinion, FSO would nicely bring closer to MSO and make our standards not with such boys as they are now. For example, USPAP standards ("Unified Standards of Professional Practice" of the US Evaluation Fund include not only the standards themselves (360 pages), but also an advisory opinion, and the "instructor's textbook" (by 300 pages). I believe that our FSO wear framework Character and do not reflect the legislative manifolds, with which an appraiser is faced in real practice. I may argue that it is impossible to take into account all, too many title features and accompanying their goals and assessment bases. But at least if we make the promise that FSO Created in accordance with MSO, then you need to go further - directly and use them in the appraisal practice, in a part that does not contradict Russian legislation. Because many provisions in federal standards are simply not. "

Olga Kolosova, Leading appraiser of Atlant-Rating:

"For example, in Russian standards, 4 types of value are prescribed: Market, liquidation, investment and cadastral. And the MSO also provides for the consumer value, the cost with a limited market, specialized cost, the safety cost, the taxable value, the cost of the current enterprise (which does not relate to the market).

We often face the need to evaluate highly specialized facilities, in particular, machines and equipment made for the needs of specific production. Relying on the demands of Russian standards, in this case, we should apply the concept of "market value" to such assets, although, in fact, it is not available for this asset.

The same applies to the assessment for insurance purposes. According to the conditions of insurance of buildings, for example, only the "constructive" of the building is insured - a set of bricks, finishes, etc. "Market value" from such an object can not be, since the building cannot be alienated in the separation from the rights to the land plot, which it is located, this is the essence of its concept as real estate. However, in the case of an assessment for insurance purposes, we also use the term "market value" with a large number of assumptions. "

Alexander Vousov,project Manager of the Department of Business Evaluation and Assets of the Consulting Group "APHILL" , regarding the differences in standards, it was more gently:

"Russian and overseas standards have similar approaches, methods and assessment procedures. However, with more detailed consideration, we will find Differences in the depth and detail of descriptions and calculations during the assessment. "

Vyacheslav Shihirin It believes that it is necessary to expand and deepen the existing FSO:

"Many of our FSO provisions require context, decoding, detail. The practice of appraisal activity is much deeper and wider than just the interpretation of some norm. In the form of what they now exist, it is difficult to avoid deliberate judgments and conclusions. Knowing only the text of the FSO, it is impossible to qualify for evaluating activities.

There are simply no many things in them. In particular, there are no concepts in the FSO, "aggregation", "value", "specific factors", "forced sale", "score base", "liquidity", "transaction costs", "problematic and unfinished objects". The last category, by the way, belongs to the unfinished television bashne in Yekaterinburg, which for 25 years has not can find a new owner. Periodically attempts to evaluate it. But this problem object has no market value, and there is only investment potential. "

And such "gaping failures" in FSO a lot. Olga Kolosova leads such an example:

« In Russian standards, there is no concept of "fair value", which is in international financial reporting standards. I note that in Russia there is a mass of enterprises leading accounting in accordance with IFRS. I had to face with the need to evaluate the fair value of assets in line with IFRS, and there was a serious "conflict" of Russian and international standards in terms of terminology, since there is no concept of fair value in our assessment standards. So far, in such cases, we have to "twist" and write a lot of assumptions that not decorate the evaluation reports.

In my opinion, the main problem of Russian assessment standards today is the lack of specific recommendations on the assessment methodology and on specific evaluation cases. Our standards have many requirements for the design of the assessment results, but they are very scarce in the methodology, which often leads to a conflict of opinions between appraisers and various "checking" structures. For example, one verifier accepts a report as reliable and relevant standards, and the second finds many errors in the same report. In my opinion, such situations should not be » .

Indeed, the lack of a clear explanation in the FSO generates the situation when a dual interpretation is possible. And it turns out: the standard that breathe, where turned - there and came out.

Vyacheslav Shchirin:

"The FSO refers to the principle" Best and most effective use "(LNEI). This principle means that one of the possible use of the real estate object is selected by the one in which the land plot will bring the highest possible income. This option is used to assess the value of real estate. This is It is called "Competitive Type of Land Use". That is, objects compete with each other. But it is incorrect. Rather, only partly. In the current decades, urban development arises the principle of complementary use of the Earth - when objects do not compete, and complement each other. But in Russian literature has no principle of complementaryness, it is only in foreign literature.

INUSPAP It is written directly: "It is incorrect to take an object that is most effectively used as an office building, when evaluating the real estate object, which is most effectively used as a hotel." After all, so we replacing one object to others. D. Zack writes: "The distortion of the most efficient use in order to increase fair value is unacceptable." D. Eckert notes: "The most effective use option is complementary, and not competitive."

Regarding harmonization, the experts spoke unequivocally: yes, it is possible, provided that the FSO will be improved.

Vyacheslav Shchirin:

"You have to work with what is. And so from the date of the revival of appraisal activities in modern Russia. FSO format is extremely unsuccessful. "

Olga Kolosova:

"I hope, work on the details of Russian standards will be carried out further, because there are actually unique assets that we do not apply to the cost base and methods of assessment, as well as the specific estimates that need to be considered separately."

Alexander Vussov:

"Despite the obviously lagging development of the regulation and standardization of the appraisal industry in Russia, over the past two years, significant jets have been made in this direction: new evaluation standards have been approved, amendments have been made to the assessment law, correcting the assessment of the assessment of moments, marked the plans for the further development of the industry. . All this allows with optimism to look into the future of Russian appraisal activities and hope for even greater harmonization with foreign evaluation standards. "

International Committee on Property Evaluation Standards International Measuring Standards MSO 1 - 4

The assessment of property plays an increasing role in the modern Russian economy. Operations such as buying - sale of housing and other real estate, lending on bail, insurance, real estate taxation, property disputes, the implementation of investment projects is impossible to imagine today out of connection with the appraiser profession.

On February 15, 1994, the next revaluation of fixed assets (foundations) was completed. In accordance with the letter of the Ministry of Finance of the Russian Federation of September 19, 1994 N 126 "On the procedure for reflection in accounting and reporting of operations related to the application of the mechanism of accelerated depreciation and reassessment of fixed assets as of January 1, 1995" In this process, an important place is assigned to experts, i.e. Professional appraisers. Resolution of the Government of Moscow dated October 4, 1994 "On licensing of real estate activities (operations with residential premises) in Moscow" introduced licensing of relevant activities.

In various countries, professional evaluator organizations assigned professional status to those who had the necessary education and sufficient experience. Gradually, the need for the wording of common for the global economy of principles, ideas and rules has been reflected in the evaluation standards, the Codes of Professional Ethics Appraiser and other documents developed in the 60s - 70s. In 1981, the International Committee for Property Evaluation Standards (MKSO) was formed. The task of the Committee was the adjustment of standards, taking into account the opinions of different countries and identify differences in wording or in the application of standards. Especially important for the ICSOi so that international evaluation standards are recognized in international accounting and other financial statements. Therefore, MKSOi supports constant relations with the International Committee on Accounting Standards, the International Federation of Accountants, the International Committee on Auditing, the International Organization of Securities Commissions.

The first edition of international assessment standards was published in 1985. There are currently a lot of work on the adoption of standards in those assessment areas that are not yet standardized. The editors begislated the publication of the first four new standards, which entered into force on March 24, 1994 and expressing the opinion of the specialists of 40 countries - participants of the ICOI.

Each standard corresponds to a certain class of situations relating to the assessment process, and contains the following sections (in order of their following): Introduction; Application area; Definition; Relationship with accounting standards; Formulation of the standard; Comments; Requirements for the report structure; Conditions of retreat from the standard; Date of entry into force.

The text of international evaluation standards is provided by the Russian Society of Appraisers, which is a member of a number of international appraisers organizations, including a member of the ICOMO.

General concepts and assessment principles

1.0. Introduction

1.1. The experience of international professional communication under the International Committee on Property Evaluation Standards has demonstrated that, for few exceptions, there is a fundamental consent to the fundamental concepts underlying the assessment as a scientific discipline. Features of local legislation and economic situation can be imposed from time to time to impose specific (sometimes restrictive) requirements in applied aspects, but the basics of methods and evaluation procedures for different countries of the world do not differ from each other.

1.2. These fundamental concepts underlie the standards and recommendations of the MKSOi, however, the Committee adheres to the position according to which it is inappropriate to formulate the fundamental definitions and principles in the text of each standard. Instead, this section serves as a supplement to each standard and is an overview of the basic concepts that are of particular importance for understanding the assessment as professional activities and for the application of standards in practice.

2.0. The concepts of land and property

2.1. The Earth is an integral part of our life and our existence. Due to its exceptional importance, it is always under the closer attention of lawyers, geographers, sociologists, economists. According to how it considers the land and options for its use, each of these disciplines, the fate of the peoples of the whole world are largely dependent.

2.2. Assessment of the value of the land plot as an unused or area with improvements (earth and construction processing) is an economic concept. Land, unused or with improvements, is also called real estate (Rial Estate). The cost is created by the use of the object of real estate - its ability to satisfy the needs and needs of people. The cost of any object of real estate is determined by its uniqueness, durability, constancy of the location, the relative limitations of the proposal in the real estate market, as well as the specific utility of a particular land plot.

2.3. Property is a legal concept. Property is a totality of private ownership. In order to distinguish property, the material concept, and the right of ownership, the legal term, the right of ownership of real estate is called real estate ownership (Real Property). The legal term for the objects of physical world, non-real estate, is movable property (Personalty), and the right of ownership of them is called the ownership of movable property (Personal Property). The word property used without additional definition or identification may relate to both real estate and movable property or combination thereof (see section 3).

2.4. Asset Valuers or Appraisers - Specialists working in the field of economics related to the assessment of property and draw up the relevant reporting documentation (see section 3.5 below). As appraisers must meet the stringent requirements in terms of education, special training, competence and manifested professional skills. They should also steadily follow the high moral principles (ethical standards) and professional standards (standards).

2.5. Price fluctuations over time are the result of the action of economic and social forces - both general and specific. Common forces can cause changes in the overall level of prices and relative purchasing power of money. The effect of individual specific forces, for example, technological changes, can lead to shifts in the ratio of supply and suggestions, which will entail significant price changes.

2.6. Many well-known principles apply to the assessment. Among them are the principles of demand and suggestions, competition, substitution, foresight or waiting, changes and others. Common for all these auxiliary principles is their explicit or implicit influence on the degree of utility and capital duty of the property under consideration. Consequently, it can be argued that the usefulness of the real estate object expresses the total effect of all market factors affecting the cost of the property.

3.0. Concepts of real estate, property and property (assets)

3.1. Real estate, or real estate object, or real estate (Real Estate), is defined as a physical section of the Earth and related to him perfectly implemented (including construction). This is a material, tangible "thing", which can be viewed and touched, together with all structures on Earth, as well as above or under it. In each state, local law establishes the basic principle to distinguish between immovable and movable property, the definition of which is shown below. Despite the fact that these legal concepts are not for all countries are generally accepted, the definitions postulated here allow us to specify important terms and concepts.

3.2. The concept of ownership of real estate includes all rights, interests and privileges associated with ownership of real estate. The ownership of real estate is usually expressed by some sign of ownership, unlike real estate itself as a physical object. Thus, ownership of real estate refers to intangible concepts.

3.3. Movable property includes material and intangible objects that are not real estate. This property is not connected with real estate constantly and, as a category, such property is characterized by the possibility of being displaced.

3.4. In the terminology of accounting, property (assets) is the resources that are in whose ownership or under whose management, from which in the future with a sufficient basis can be expected some economic profits. Property ownership (active) as such is an intangible concept. However, the property itself (assets) can be both material and intangible.

3.5. In accordance with international accounting standards considered in the ICOMO 3 standard, assets differ on material, intangible and investment. The following terms and concepts are of particular importance:

A. Current assets. Assets not intended for use on an ongoing basis in the activities of the enterprise, for example, accounts of debtors, inventories, short-term investments, banking and cash transparency. In some cases, real estate, usually considered as basic assets in accordance with the data below, can also be attributed to current assets. As an example, land plots or real estate objects are in the commodity - material reserve and intended for sale.
b. Main assets (fixed assets). These are material and intangible assets divided into two general categories:

1) Real estate, production facilities and equipment. Assets intended for use on an ongoing basis in the activities of an enterprise, including land and facilities, production facilities and equipment, depreciation reserve (accumulated depreciation) and other types of assets.
2) Other long-term assets. Assets not intended for use on an ongoing basis in the activities of the enterprise, but which will be in long-term ownership. Such assets include long-term investments and long-term receivables, goodwill, delayed costs, patents, branded signs and other assets.

3.6. Accounting terminology not in everything coincides with the terminology used by the appraisers. If you follow the classification of paragraph 3.5, the appraisers mainly deal with the main assets. The technical plan is estimated by property ownership (assets), or the right of ownership, and not the assets themselves, material or intangible. This term emphasizes the difference between the economic concept of assessing the property, objectively based on the ability of this property to be sold and purchased on the free market, and a certain subjective concept suggesting as the basis for determining the cost of some internal quality of the object, or another base other than market value. Nevertheless, the MKSOh 2 standard notes that an objective market approach has special applications in cases of limited or non-market property assessment.

3.7. The terms "wear" and "depreciation" (depreciation) are used both in the assessment and in accounting and can lead to misunderstanding of the meaning, which is worth it. In order to avoid misunderstandings, applying the methods of reproduction and reimbursement methods can use the term "wear" or "accrued wear", meaning any loss of value relative to the total cost of the acquisition. Such losses may relate to physical wear, functional or technical or external obsolescence. The term "depreciation" (accruals for depeciation) denotes accruals made by accountants to compensate for the initial costs of acquiring assets, regardless of the principle for which these accruals were made. It is important to note that for the appraiser, the accrued wear is the function of market relations. Depreciation accruals, in turn, depend primarily on a particular method of calculations applied by an accountant, and do not necessarily reflect the state of the market.

3.8. Given that the legal term "property" belonging to the object of real estate is at the same time widely used as a general designation of immovable and / or movable property, in these standards this concept is used in a broad sense. In this context, it can be understood as the physical object itself and the right of ownership of them. Taking this agreement, we can distinguish the property in the overall context of the assessment process from the property, understood as assets in the sense of definitions and accounting agreements.

4.0. Price, Costs (costs, costs), market and cost

4.1. Inaccuracy, the non-specificity of the language can lead and actually leads to various kinds of misunderstandings and misunderstandings, especially if we are talking about the international community. This problem becomes especially relevant in cases where the words of a language having a wide, ordinary meaning are also used to denote specific concepts in some discipline. When used in the assessment of the property of terms, the price, cost, market, the cost we are faced with such a situation.

4.2. The price is the term denoting the sum of money required, proposed or paid for a certain product or service. It is a historical fact, that is, refers to a certain point of time and place, regardless of whether it was announced openly or remained in secret. Depending on the financial capabilities, motives or special interests of a particular buyer and the seller, the price paid for goods or services may not comply with the cost attributed to these goods or services other people. Nevertheless, the price in principle is an indicator of the relative cost attributed to goods or services to a specific buyer and / or a specific seller under specific circumstances.

4.3. Cost cost (costs, costs) is a price paid for goods or services or the sum of money required to create or produce a product or service. Upon completion of the process of creating or acting purchase - sales, the cost of the cost (costs, costs) becomes a historical fact. The price paid by the buyer for the goods or service becomes the cost of acquiring.

4.4. The market is a system in which goods and services are moving from sellers to buyers through the price mechanism. (Sometimes the market is also called the place where these operations are performed). The concept of the market implies the ability of goods and / or services to move from hand to hand without excessive restrictions on the activities of sellers and buyers. Each of the stakeholders acts in accordance with the ratios of supply and demand and other pricing factors, to the best of its capabilities and competence, understanding the relative utility of specific goods and / or services, as well as taking into account their individual needs and desires. The market may be local, national or international.

4.5. The cost is an economic concept that establishes the relationship between goods and services available to purchase, and those who buy them and sells. Cost is not a historical fact, but an assessment of the value of specific goods and services at a particular point in time in accordance with the selected value determination. The economic concept of value expresses a market look at the benefit that the owner of this product or a customer who provides this service at the time of assessing the cost.

4.6. There are many types of value and corresponding to them definitions (see, for example, the ICOI Standard 2). Some of them are standard types of value, widely used in the assessment procedures. Others are used in special, strictly agreed cases. To understand and practically apply the assessment methods, it is extremely important to clearly state the type and value definition, as well as pay attention to the fact that the selected value of the cost correspond to the context of a specific task facing the appraiser. Depending on the selected definition, the cost of the estimated property may be different.

4.7. Professional appraisers avoid using a non-coming term "cost", applying it in combination with defining adjective - specifying which value is meant. Market value (Market Value, or in some Open Market Value countries), the most common type of value in the assessment of the property is a subject of discussion of the IMOI of Standard 1. Due to the fact that traditional common sense suggests the concept of value to interpret exactly how the market value (unless otherwise revealed ), It is especially important that in each such case the concept of "market value" was clearly and accurately determined.

4.8. The concept of value involves the definition of a certain amount of money related to the act of purchase - sales. Nevertheless, the sale of an estimated property object is not a condition necessary for the price determination process for which this property object must be sold at the date of evaluation under the observance of the conditions imposed in the definition of market value.

4.9. The market value of the object of real estate is an expression of its utility from the point of view of the market, and not his abstract physical status. For a particular enterprise, the usefulness of its assets may differ from their utility from the point of view of the market or separately taken industry. Therefore, it is necessary that the assessment of property and accounting reports, reflecting the effects of price changes, took into account the difference between the value in the market sense, which should be reflected in the financial statements, and non-market types of cost, which should not be taken as the basis of financial documentation. The residual cost of compensation (ASS), understood in the sense of the definition of the MKSOhi of Standard 2 and being applied to specialized property, although it is a non-market assessment base, nonetheless in appropriate cases can be applied in financial statements.

4.10. Arguments similar to those given in paragraph 4.9 are valid to assess property other than real estate. With the exception of cases of reasonable use of ASS, financial statements requires the use of methods based on market value, and carrying out a clear boundary between them and methods using non-market cost types.

4.11. The total cost of the property includes all direct and indirect costs for its production. If the buyer has completed additional capital costs after the acquisition of real estate, then when calculating the cost, these costs are added to (ourselves) the cost of acquisition. Depending on how much the market considers these costs appropriate, to such extent they will contribute to the market value of the property.

5.0. Market value

5.1. The concept of market value reflects the collective perception and market action and is the basis for assessing the majority of market-type economy resources. Despite the fact that accurate definitions may vary, the meaning invested in this concept is clear to everyone, and it usually does not occur with its use.

5.2. According to the ICOGO standards, the market value is defined as a calculated value equal to the amount of money for which the property should move from hand to hand to the date of the assessment between the voluntary buyer and the voluntary seller as a result of a commercial transaction after adequate marketing, while it is supposed to be the competent , calculating and without coercion.

5.3. In the ICOI, Standard 1 provides a detailed explanation of the concept and definition of market value. Here, as a prerequency, it is important to note that the professionally obtained settlement value of the market value is an objective assessment of the established rights of ownership of certain property at a specific date. Market value is an assessment based on market data and developed in accordance with these standards, and the report is presented in the form that meets standards and / or agreements applicable to the tasks facing a specific assessment. The IMOI Standard 3 establishes valuation standards designed specifically for financial statements and related documentation.

5.4. Main assets differ from most current assets in that they require a larger period of time in order to determine the price representing their market value by marketing. This element of time, as well as the absence of a "cash market", specificity and a wide variety of markets and property facilities, along with other factors, determine the need for professional appraisers and developing present standards.

6.0. Most effective use

6.1. The earth's surface is the basis of any existence and, with rare exception, remains unchanged throughout the life of individuals. Due to the uniqueness and immobility of the Earth, each land plot has a unique, inherent only location. The constancy of the earth's surface also allows you to make a natural assumption that it will survive the developments produced on it and the structures.

6.2. The unique properties of the Earth allow us to talk about the cost of our own land plot, and, in accordance with the economic principles, evaluating the land separately from the improvements carried out on it, we must assess the contribution that these improvements contribute to the total cost of the property. Thus, the market value of the Earth, based on the concept of "most efficient use," expresses the usefulness and invariance of land in the context of market relations, where improvements determine the difference between the total market value of the real estate object and the value of the land of the land.

6.3. Despite the circumstances set out in paragraph 6.2, many property facilities are estimated as a totality of land and improvements. In such cases, the appraiser usually determines the market value, given the most efficient use of the area with existing improvements.

6.4. The most efficient use is defined as the most likely use of property, which is physically possible, reasonably justified, legally legally legal, fulfilled from a financial point of view and as a result of which the cost of the estimated property will be maximum.

6.5. The use of property that is not permitted by law or is physically impossible cannot be considered as the most efficient. Even in the case of legally legally legal and physically able to use from the appraiser, a reasonable explanation may be required, justifying his opinion on the likelihood of such use. After as a result of the analysis, one or more reasonably justified use options were revealed, they are investigated for financial consistency. That option, as a result of which the estimated property will have the maximum cost, and is considered to be the most efficient use.

6.6. The use of this principle allows the appraiser to take into account the effect of wear and obsolescence of buildings, determine the most suitable character of improvements that need to be carried out on the land plot, to investigate the financial state of reconstruction projects, and also helps in many other situations arising in the evaluation process.

6.7. The concept of the most efficient use is an integral part of the market value assessment. However, some standard procedures are intended for a special application for the concept of the most efficient use in the assessment of property in connection with the preparation of financial statements and related documentation. This is a special application called "Market value with existing use", discussed in the ICOHO 3.

7.0. Utility

7.1. Due to the fact that the key criterion for the value of any property is its utility, the procedures used in the assessment process have a common goal - the definition and quantitative interpretation of the degree of utility of the estimated property. At the same time, the question arises about the sense that is invested in the concept of utility.

7.2. Usefulness is more relative, or comparative, concept than absolute characteristic. For example, the usefulness of agricultural land, as a rule, is measured by their fertility. The cost of land directly depends on the amount and quality of harvest or the number and quality of buildings, or if the site allows for development, on the degree of productivity to which it is capable of commercial, industrial aspect or in terms of housing construction. Consequently, the cost of land is established by estimating its utility in terms of legal, physical, functional, economic factors and conditions of the external environment that determine its productivity.

7.3. The assessment of property is fundamentally depends on how the property is used, and / or on how high it can be listed on the market under normal conditions. For some types of property, optimal utility is achieved if objects act as separately taken elements, others may turn out to be more useful as part of the group. Consequently, it is necessary to distinguish the usefulness of the property considered separately, from its utility as part of the group.

7.4. Separately, independently functioning real estate objects, as a rule, go from hand to hand in an individual order, and in this aspect it should be assessed. If the cost of such objects increases (or decreases) thanks to a functional or economic connection with other real estate objects, such an additional specific value is defined in the evaluation process and recorded in the report or on the basis of the appraiser's own observations, or in accordance with the explicit instructions of the client. Be that any such such value amendment should not be taken into account in market value without the relevant justification.

7.5. Separately, the real estate object may have an additional cost due to its physical or functional relationship with the property adjacent to it, which are in someone else's ownership, or due to its attractiveness for the buyer who has its own special interests. The report must indicate separately from the market value established in accordance with these valuation standards, the amount of such an additional cost.

7.6. Usefulness is measured in a long term - as a rule, throughout the normal service life of the property. However, some assets may be temporarily unnecessary: \u200b\u200bthey are "put on the shelf" or some other ways are made from the production process, are converted to alternative use or simply freeze for a certain period. In other situations, the external conditions of the market, economic or political, can force the production indefinitely.

7.7. A similar situation occurs if the assets are located in remote regions, in states with a non-market type of economy or where the economy is experiencing substantial shifts. The degree of utility of such assets can be determined extremely difficult. Assessment in such situations requires special competence and special training, and the report must be compiled in accordance with the MKOHO standards. Especially important for the appraiser is a detailed presentation and an explanation of the assessment base used by it; The information on which the assessment was based, and those special assumptions and restrictions (if such were), with which the assessment was made.

7.8. A typical result of political or economic instability is a change in utility, in productivity or in efficiency. The appraiser in such cases is responsible for assessing market expectations of the duration of such development of events. Temporary stops or closures of enterprises can do little at the cost of assets or not even influence at all, while the prospects for long-term cessation of activities can cause a constant reduction in cost. Assessing assets must be considered in the light of all internal and external factors affecting their functioning.

8.0. Other important concepts

8.1. The "Market Cost" expression is not synonymous with the term "fair, or objective cost" (Fair Value), in the sense, in which it is used in accounting standards. Unlike the above definition of the market value, the accounting concept of objective cost implies a transaction that could be held in the presence of certain differences; In circumstances other than the normal process of redistribution of property in the open market conditions. These circumstances include the possibility of committing an urgent transaction, when one of the parties is in a difficult situation, as well as other cases not provided for in determining the concept of market value. The term "fair value" is also used in a legal aspect in determining a compromise solution that resolves the disagreement of the parties. The reasons for these disagreements may also not comply with the definition of the concept of market value. In order to avoid ambiguities and misunderstandings, a market value estimation report should include an adequate explanation of the definition appraiser of the term "market value", as well as the presentation of assumptions, conditions and circumstances, on the basis of which evaluated.

8.2. Specialized assets are assets that, as a rule, are sold as part of the business, the composite component of which they are. Such assets can also be considered as a limited market or non-market or generally, depending on the degree of their specialization in terms of design, configuration or use. With a lack of or complete absence of market information for direct comparative analysis, the process of assessing such assets may be extremely difficult. Nevertheless, it is precisely on the appraiser that is responsible for the selection of market data to justify and / or explain the evaluation conclusion. Despite the fact that, when considering specialized assets, any of the assessment methods and none of the appropriate methods should not be neglected, in practice, the method of residual value of compensation is most often used. If possible, the appraiser, based on market information, determines the cost of land plot, cost and accumulated wear and explains its choice of value estimation base.

8.3. The term "residual value of compensation" should not be confused with the term "cost of compensation". The cost of compensation expresses the cost of acquiring on the market as a satisfactory substitution of similar property. Despite the possibility of building or otherwise creating a satisfactory replacement, usually the amount of costs for acquiring analogue on the free market are used in determining the value of compensation. In contrast, the WAS method refers to the assessment process that combines the calculation of the market value of the land plot at the current use of the use and residual value of buildings, structures and other improvements to obtain the value of the cost reflecting the potential profitability of the use of property as a whole.

8.4. Under conditions of violation or suspension of normal market processes, as well as in cases where the imbalance between supply and demand leads to market prices that do not satisfy the definition of market value, there may be very difficult problems before the appraiser. Applying the concept of market value by analyzing the market information in the assessment process and all the arguments available at its disposal, the appraiser makes adjustments to the importance and usefulness of the assets considered in the financial documentation. The less available market information is available than to a lesser extent it can be used in directly, the more reliability of the evaluation procedures depends on the professional competence, experience and intuition of the appraiser and the qualified application of these standards.

8.5. In a number of states (or under specific circumstances), to comply with legislative or regulatory requirements, the appraiser may need to use a special definition of the term "market value". However, the fundamental concepts and definitions of the assessment rely on the relevant provisions contained in the ICOHO standards, unless the appraiser did not specifically reopen the opposite. The meaning of the concept of "market value of property" does not change due to discrepancies in terminology or rephrase the determination itself, which may be different for different countries due to differences in legislation.

8.6. Any evaluation report should contain a clear statement of the objectives and methods of the assessment. As a financial report, an assessment report, observing all other requirements for this kind of documentation, should contain a conclusion that determines the type of property for each of the estimated objects, and containing the argument of this classification.

8.7. The method adopted in the accounting method based on the acquisition costs takes into account only those initial costs and depreciation accruals that fall under generally accepted accounting principles. However, property can have a market value less (or, on the contrary, greater) than the cost of acquisition, regardless of the accumulated wear amendments. From the point of view of a particular enterprise, the cost of assets may coincide with the contribution that the assets contribute to the total cost of the enterprise, and may differ from it. From the point of view of the market, if the manufactured property is intended for sale, the manufacturer must be able to sell it at a price that exceeds the manufacturer's costs for its production, otherwise the activities of the enterprise will be unprofitable. If the property was sold with a profit, the price paid by the buyer will be the cost of acquiring (cost costs, or purchase costs), and the difference between it and the cost of the seller (including trade costs and storage costs) will be a profit of the seller, also called income from sales. In some circumstances, the sale can occur at a price equal to the cost of goods for the seller, or even lower it, but such special cases require special use of the principles setlined.

8.8. Property value assessment, report preparation and relevant recommendations are within the competence of these international standards and related recommendations. Other disciplines have nothing to do with them. However, how the evaluation results will be studied, to be processed and incorporated with the results of other studies, has extremely important for appraisers. Adequate understanding of terminology is a fundamental point for both appraisers and for those who enjoys their reports. No less important for appraisers is the use of erudition and experience in combination with the correct use of developed techniques. These standards serve goals common to those who conduct assessing property and those who have to rely on their results.

9.0. Summary

9.1. These standards are addressed primarily to appraisers who need to evaluate property for the purposes of financial statements and related documentation. Special emphasis is on the use of real market information, on the basis of which professional judgment may be made regarding property assessment. The standards include recommendations regarding other types of assessment, and their differences from the assessment of property are noted in order to improve the landmarks that will contribute to the best understanding of all aspects of the assessment and will reduce the misunderstandings in the use of reports on evaluation.

International Standard Estimates 1.Market value as a base of MKOHO estimates

Belgium India New Zealand
Brazil Indonesia Norway
Canada Ireland Pakistan
Cameroon Italy Singapore
Denmark Kenya Spain
France Korea Sweden
Ghana Malawi Trinidad
Greece Malaysia Tobago
Zambia Zimbabwe
United States of America
This text is drilled with the text of the standard published by the International Committee on the Standards Estimation Standards in English. Standard entered into force on March 24, 1994.

The International Assets Valuation Standards Committee, 12 Great George Street, Parliament Square, London SW1P3AD. Telephone: 071-222-7000; FACSIMILE: 071-222-9430.

International Evaluation Standards

Standard 1.

Market value as a score base

The content of this standard should be considered in the context of preliminary material and the introductory recommendations contained in the preface and chapter "General concepts and principles of evaluation".

1.0. Introduction

1.1. The purpose of this standard is to introduce a general definition of the concept of "market value". In addition, the standard explains, in terms of this definition and its annexes to property assessment, the general signs of the situation in which the tasks and methods of assessment require the location of the market value.

1.2. Market value is a representation of the exchange value or the monetary value that can be obtained for property, if it is put up for sale on the open market at the date of the assessment, subject to the compliance with the requirements specified in the definition of market value. In order to assess the market value, the appraiser must first appreciate the most efficient use or most likely use of the property object (see the MKSOi Preface, Paragraph 6.3). This use can coincide with the currently existing or otherwise. This is determined on the basis of market data.

1.3. The market value is determined using the methods and procedures for the assessment reflecting the nature of the property and the most likely conditions under which this property would be sold on the open market. The most common methods of market value assessment are the sales comparison method, a capitalized income method, or a discounted cash flow, and the cost method.

1.4. The cost method has two possible options for use, one of which can be used in the assessment of the market value. In annex to the estimate of the market value, all parameters of the method are taken from the data of the open market. In an application to non-market situations, the parameters are selected in a different way. To add pictures, the method of the residual value of compensation (ASS) combines market and non-market elements and cannot determine the market value. When receiving, representing and using market value, it is important not to confuse in these various cost approaches.

1.5. All methods, procedures and techniques for measuring market value, if they are based on market indicators, and at the same time are properly applied, lead to the same expression of market value. Sales comparison method or any other comparative market method based on market observations. Building costs and degree of depreciation should be determined based on the analysis of market estimates of costs and accumulated wear. The capitalization method of income, or the discounted flow method, should be based on the cash flow determined by the market and profit rate. Therefore, despite the fact that the choice of a specific method is mainly due to the nature of the available information, the characteristics of the market and the specifics of the most estimated object, the result of all the above procedures should be one - the market value (if all the methods are based on market information).

2.0. Application area

2.1. This standard is applicable to the assessment of the market value of the property - as a rule, real estate and elements with direct attitude. It is assumed that the property in question is estimated as an object of sale on the open market, and not as part of the existing enterprise or from any other point of view.

3.0. Definitions

3.1. Market value in the context of standards is defined as follows:

The market value is a calculated value - the money amount for which the property should move from hand to hand to the date of the assessment between the voluntary buyer and the voluntary seller as a result of a commercial transaction after adequate marketing; At the same time, it is assumed that each of the parties operated competently, calculating and without coercion.

3.2.1. "Calculated value ..." refers to the price expressed in monetary equivalent (as a rule, in local currency), which can be paid for property in the process of a commercial transaction. The market value is measured as the most likely price that can actually be obtained at the date of assessment on the market that satisfies the conditions for determining market value. This is the highest of the most important for the seller and the lowest of the price is really possible for the buyer. The calculation does not take into account the prices, illuminated or affected by the special conditions or circumstances of the transaction, such as an atypical form of mutual settlements, sale to receive property back to rent, special compensation and discounts or in the presence of one of the signs of a special cost (by definition of the ICOI of Standard 2 ).
3.2.2. "... The property must move ..." emphasizes the fact that the value of the property is the value of precisely calculated, rather than a predefined in advance or real price of sale. This is the price for which the market expectations should take place on the sale of this property, which meets all other requirements for determining the concept of market value.
3.2.3. "... at the date of evaluation ..." expresses the binding of the estimated market value in time to a specific date. Due to the fact that markets and market conditions may vary, the calculated value of the cost for another point in time may be incorrect or incorrect. The result of the assessment reflects the actual state of the market precisely on the date of the assessment, but not on the past or future date. In addition, the definition assumes that the transaction that determines the market value is completed simultaneously with the transition of property from hand to hand, so that no price variations are impossible.
3.2.4. "... between the voluntary buyer ..." refers to the one who has the motives to buy, but nobody forces it to do it. Such a buyer is not ready to pay any price - neither for too hot will, nor for acute necessity. This buyer, in addition, makes a purchase, acting in accordance with the realities and expectations of the current market, and not an imaginary or hypothetical market that cannot be seen or believing in its existence. The estimated buyer will not pay the price above the one that the market dictates him. The current property owner is also among those who constitute this "market." The appraiser should not make unrealistic assumptions about the conditions and status of the market or to assume the level of market value above reasonable. In some countries, it is specifically to note this important circumstance, in determining the market value, the words about the voluntary buyer are lowered.
3.2.5. "... voluntary seller ..." Does not burn from the desire to sell, not forced to sell at any cost at any price, and also not inclined to insist on price if it is not considered reasonable in the current market. The voluntary seller is interested in selling property on market conditions after adequate marketing on the maximum possible price in the open market, Whatever this price is. The actual details associated with the real owner of the property are not accepted in this case, since the "voluntary seller" is the hypothetical owner.
3.2.6. "... As a result of a commercial transaction ..." means that there are no special specific relationship between the parties (for example, maternal and subsidiary or home owner and tenant), which can be expressed in an atypical price due to the presence of a special cost element. The transaction that determines the market value should occur between the parties that are not related to among themselves by special relations and in force regardless of its own interests.
3.2.7. "... after adequate marketing ..." means that property should be put up on the market for sale in the most appropriate way in terms of obtaining the maximum price from really possible in accordance with the definition of market value. The duration of marketing can be different depending on market conditions, but in any case should be sufficient so that the property attracted the attention of the adequate number of buyers. Naturally, it is assumed that the marketing period is preceded by the date of evaluation.
3.2.8. "... Each of the parties acted competently, gravily ...": It is assumed that both the voluntary buyer and the voluntary seller are sufficiently informed about the essence and characteristics of the property being sold, its existing use and potential application, as well as the market status At the date of evaluation. Further, it is believed that each of them, possessing this information, acts in its own interests, asking for an exceptionally, trying to achieve the best in terms of its position in the price transaction. Excusability is understood in the sense of the desire for the benefit at the time of the assessment, and not a certain foresight of the situation. It is optional is unshakable for the seller in the market conditions with falling prices to sell property at a price below previous levels of market prices. In this case, as in other situations on the purchase - sale in conditions of changing prices, the calculating buyer or the seller acts in accordance with the most complete information about the state of the market available at the moment.
3.2.9. "... And without coercion.": The focus is on the fact that each of the parties is interested in making a transaction, but none of them is forced by any of them and is not pushing it.

3.3. The market value is understood as the value of the property, calculated without reference to trade costs and exclude any related taxes.

4.0. Accounting Accounting Standards

4.1. There are a lot of terms used by both appraisers and accountants. In some cases, this can lead to misunderstandings and possible distortion of the meaning of standards. In the ICOI, Standard 1 formulates the definition of market value and discuss the general concepts associated with market value standards. Some other important terms defined in the ICOHOs standards 1 and 2 are the basis for the formulation of the more special requirements of the ICOHO standard 3.

4.2. By definition of the ICOHO standard 3, the market value of the property at the existing use is based on the premise of the continuation of the use of property in the same way as it has been used to the present. The market value with the existing use is a special case of determining market value. At the same time, the market value of redundant or investment assets is considered based on the most efficient use, regardless of whether it coincides with the existing application or not.

4.3. In accordance with the arguments of the ICOI of Standard 3, the market value is the basis for the assessment of non-specialized property facilities, held in connection with the tasks of financial statements. Standard 3 delimits market value and other assessment bases that should not be applied. Standard 3 also discusses the assessment of specialized assets for the purposes of financial statements and establishes the difference between these methods from those that are not applicable in accordance with these standards in the financial statements.

4.4. Specialized assets and assets with limited due to the location features of the sales market are extremely rarely moving from hand to hand on the open market differently as part of a business or enterprise, an integral part of which they are. Such assets are called assets involved by the owner. If the most likely use of such property is inextricably linked with the business in which it is involved, the process of calculating its cost is not based on market data and may require the determination of the value of the enterprise as a whole, to then estimate the contribution of each enterprise component to the total cost. Standard 3 shows the difference between these procedures from the method of the residual value of compensation and is indicated on their non-market nature and incompatibility with the IMOI standards for normal financial statements.

4.5. In situations where the normal course of operations on the market is temporarily violated or suspended due to economic, political, social or other external reasons, the market value of the property may well be immeasurable at the evaluation date, especially if the market refers to violation or stopping operations with serious anxiety. In such circumstances, the duty of the appraiser is to note these special conditions in explanatory notes attached to the assessment report. In addition, the appraiser should express its opinion on the market value, based on the previous price level or on the resumption of market activities, qualified and taking into account all the cost loss associated with delays in the return of the market to normal operation. An extremely important point is the clear statement of all the circumstances taken into account, the criteria for the evaluation process and grounds for significant assumptions on which the assessment was based.

5.0. Formulation standard

5.1. Before committing property assessment obligations, the appraiser must determine whether it has sufficient knowledge and experience to fulfill work in accordance with these standards and other generally accepted assessment principles; In other words, he must:

1) before committing commitments to bring any inconsistency of any of the professional qualities to the customer;
2) take all the necessary steps for competent performance;
3) to perform work in the accompanying report clearly state the situation and steps taken to adequately reflect.

5.2. When conducting a market assessment, the appraiser must understand and correctly apply the established methods and procedures necessary to obtain a reliable assessment.

5.3. When conducting a market assessment, the appraiser must adequately identify the estimated property associated with it, the estimates and the planned use of its results, the scale of the data collection process, overvalued restrictions, the effective evaluation date.

5.4. During the assessment, the appraiser must identify and give a value determination suitable by the context of the problem. In the case of using non-market types of value, special attention should be paid to them to a clear and unambiguous distinction with market value.

5.5. In the market evaluation report, the appraiser must:

5.5.1. Say the results of the assessment - exhaustive, accessible and uniquely interpreted manner.
5.5.2. Provide users with a report, sufficient information for understanding its source data, arguments, analysis and conclusions.
5.5.3. Formulate all assumptions and restrictions on which the evaluation process was based.
5.5.4. Clearly identify and describe the estimated property, as well as the nature and scale of its research.
5.5.5. Identify the evaluated interest or interests.
5.5.6. To define the estimated cost, establish an effective evaluation date and date of the report.
5.5.7. Give a complete, exhaustive explanation of the applied assessment bases, the argumentation of their application and the conclusions made.
5.5.8. Include in the report certified by an act confirming the objectivity of the assessment, fixed (independence from the results of the assessment) of the professional fee or any other compensation; contain information about the applicability of standards and other explanatory materials.

6.0. Remarks

6.1. The concept and definition of market value are fundamental for all the practice of assessment. In the chapter "General concepts and principles of evaluation", which these standards relieve, briefly explain the most important economic and procedural points.

6.2. The market value by definition depends not on the actual transaction that occurred on the evaluation date. Market value is a calculated price that must be achieved in a transaction on the evaluation date in the market conditions corresponding to the definition of market value. The market value is the price at which the buyer and the Seller must come to a certain point in time, subject to the conditions for determining market value, provided that each of them had enough time to study other market opportunities and alternative options. It does not take into account the time that may be required to prepare contracts and related documentation.

6.3. The concept of market value assumes that the price is achieved through negotiations on the open and competitive market. This circumstance determines the periodically occurring use of the adjective "open" before the words "market value" (Open Market Value). The words "open" and "competitive" are relative importance. The market for the same property can be both international and local. The market may consist of a large number of buyers and sellers, and can be characterized by a strongly limited number of participants. The market on which property is put up for sale, should not be considered narrow or limited by default. In other words, the absence in defining the word "open" does not mean that the transactions under consideration will be closed or can be private.

6.4. Market assessment methods are usually based on comparable property facilities. The evaluation process requires an appraiser of adequate research, competent analysis and the development of reasonable judgments. At the same time, appraisers all data should be comprehensively with a comprehensive study, taking into account all the relevant information that exists in the trend market, data on comparable deals and much more. In cases where market data is limited or practically absent at all (as, for example, for some specialized property objects), the appraiser should adequately reflect this situation and indicate, did it affect, and if so, to what extent to assess the value of the lack of information . All estimates in some extent depends on the individual opinion of the appraiser, but in the report should be disclosed whether the appraiser was based on market value on market data or its assessment due to the characteristics of the specific property and the lack of comparable market information was already large on the subjective opinion The appraiser itself.

6.5. Periods of sharp changes in the status of the market are manifested in sharp price fluctuations. This is the so-called disturbed equilibrium can last for a number of years and be the usual and expected market status in the near future. In other situations, sharp economic fluctuations can lead to a significant scattering of market data. Transactions that are highly different from the average market indicators, the appraiser must take into account with a smaller weight or discard at all. If there is a realistic market level, the appraiser still has the opportunity to rely in its judgments on available market information. Prices for individual transactions cannot indicate market value, but the results of the analysis of such market data in the assessment process should be taken into account.

6.6. In the markets with poor or declining conditions, there may always be a fairly large number of "voluntary sellers". Some (although not necessarily all) transactions may include elements of financial (or other) coordination or occur under conditions that reduce or reduced to no real voluntary of some sellers. The appraiser must take into account all the essential factors of such a market and give specific transactions those weights that, in his opinion, best reflect the state of the market. On the sale of property in the duties of liquidators, as a rule, it includes the receipt of the most profitable price. However, the transactions can be performed without quite thorough or sufficiently long marketing. The appraiser must determine to what extent such operations meet the conditions contained in the definition of market value, and what weights should be attributed to such data.

6.7. In transitional market periods characterized by sharp fluctuations in prices, there is a risk to overestimate or underestimate the property under consideration due to an error when choosing weights attributed to real transactions, or due to unreasonable market forecasts. In these circumstances, the appraiser must carefully analyze and interpret the current state of the market and the trends existing on it, caring for its report to be exhaustively disclosed the results of its research.

6.8. The concept of market value also suggests that in transactions that determine the market value, the property was put on open sale for a sufficiently long period of time and with adequate advertising. It is assumed that these actions preceded the effective evaluation date. The main assets markets are usually different from stock markets, bonds and other current assets. Properties that are major assets can be considered unique to a greater extent. Usually they are less frequently sold, and markets are less formalized for them and less effective than, for example, a registered securities market. In addition, the main assets are less liquid. Based on this, as well as given that the property of this kind is not a common subject of purchase - sales of the general public, the market value of the main assets requires a substantial period of time for adequate marketing and negotiations.

6.9. Property, which makes income, acting as a long-term investment of the company - Holding - Pension Fund, a trust company or a company with a similar form of ownership, is usually estimated on the basis of the individual distribution of assets in accordance with the established distribution scheme. Cumulative, "portfolio" market value of such assets may be more (or, on the contrary, less) than the amount of market value of individual components.

6.10. Any assessment should be considered in the context of the tasks for which it is conducted. If the purpose of the assessment is related to the preparation of financial documentation, in addition to complying with all other requirements for reports, the appraiser should clarify the assessment class each estimated object.

7.0. Requirements for the report structure

7.1. The evaluation report should not allow ambiguous interpretation or misleading. The assessment made in calculating the market value must comply with the requirements of section 5. The report should contain a description of a specific application of the concept of market value in the sense of the definition given in these standards, along with an indication of how the cost in terms of utility or the most efficient use was considered. (or the most likely use), and the wording of all significant prerequisites.

7.2. When calculating the market value, the appraiser must clearly identify an effective evaluation date (a date on which the calculated value of cost), targets and objectives of the assessment, as well as other significant criteria so that the results, judgments and report conclusions can be adequately interpreted.

7.3. Despite the fact that under certain circumstances, the use of alternative value definitions may be permissible, the appraiser must ensure that if these alternatives are not interpreted as a representation of the market value.

8.0. The conditions of retreat from the standard

8.1. In some states, the appraiser may be forced to use or refer to some specific definition of market value to comply with the legal or regulatory requirements of jurisdiction, within which an assessment is carried out. If the score results will be distributed beyond jurisdiction to the scope of international standards or in cases where the local definition can lead to incorrect interpretation, the appraiser should also use the definition provided in these standards, and indicate whether the choice of alternative definition to changes in the results Estimates.

9.0. Date of entry into force

9.1. This International Evaluation Standard entered into force on March 24, 1994.

International Estimation Standard 2 Estimated databases other than market value MKSO

The International Committee for Property Evaluation Standards was formed in 1981. The activities of the Committee are carried out by members - members who were represented by the Society of Appraisers of the following States for March 1994:
Australia Iceland Netherlands
Belgium India New Zealand
Brazil Indonesia Norway
Canada Ireland Pakistan
Cameroon Italy Singapore
Republic of Czech Republic Japan South Africa
Denmark Kenya Spain
France Korea Sweden
Germany Luxembourg Switzerland
Ghana Malawi Trinidad
Greece Malaysia Tobago
Hong Kong Mexico United Kingdom
Zambia Zimbabwe
United States of America
This text is drilled with the text of the standard published by the International Committee on the Standards Estimation Standards in English. Standard entered into force on March 24, 1994.

International Evaluation Standards

Standard 1.
Market value as a score base
The content of this standard should be considered in the context of preliminary material and the introductory recommendations contained in the preface and chapter "General concepts and principles of evaluation".
1.0. Introduction
1.1. The purpose of this standard is to introduce a general definition of the concept of "market value". In addition, the standard explains, in terms of this definition and its annexes to property assessment, the general signs of the situation in which the tasks and methods of assessment require the location of the market value.

1.6. However, one or another property is usually rotated on the open market serves as an indicator of the applicability of various methods and procedures for the assessment of market value. Any method based on market information is at its essence comparative. For each assessment problem there are one - two methods, as a rule, better than other reflecting the situation on the open market. For each valued object of ownership, the appraiser in determining the market value should consider all the methods available at its disposal and choose from them the most suitable.
2.0. Application area
2.1. This standard is applicable to the assessment of the market value of the property - as a rule, real estate and elements with direct attitude. It is assumed that the property in question is estimated as an object of sale on the open market, and not as part of the existing enterprise or from any other point of view.
3.0. Definitions
3.1. Market value in the context of standards is defined as follows:
The market value is a calculated value - the money amount for which the property should move from hand to hand to the date of the assessment between the voluntary buyer and the voluntary seller as a result of a commercial transaction after adequate marketing; At the same time, it is assumed that each of the parties operated competently, calculating and without coercion.

3.2. The term "property (assets)" was used due to the corresponding orientation of these standards. However, instead of him, the term "property" could be chosen for the generality of determination. Each element of the definition has its own conceptual attack:
3.2.1. "Calculated value ..." refers to the price expressed in monetary equivalent (as a rule, in local currency), which can be paid for property in the process of a commercial transaction. The market value is measured as the most likely price that can actually be obtained at the date of assessment on the market that satisfies the conditions for determining market value. This is the highest of the most important for the seller and the lowest of the price is really possible for the buyer. The calculation does not take into account the prices, illuminated or affected by the special conditions or circumstances of the transaction, such as an atypical form of mutual settlements, sale to receive property back to rent, special compensation and discounts or in the presence of one of the signs of a special cost (by definition of the ICOI of Standard 2 ).

3.2.2. "... The property must move ..." emphasizes the fact that the value of the property is the value of precisely calculated, rather than a predefined in advance or real price of sale. This is the price for which the market expectations should take place on the sale of this property, which meets all other requirements for determining the concept of market value.

3.2.3. "... at the date of evaluation ..." expresses the binding of the estimated market value in time to a specific date. Due to the fact that markets and market conditions may vary, the calculated value of the cost for another point in time may be incorrect or incorrect. The result of the assessment reflects the actual state of the market precisely on the date of the assessment, but not on the past or future date. In addition, the definition assumes that the transaction that determines the market value is completed simultaneously with the transition of property from hand to hand, so that no price variations are impossible.

3.2.4. "... between the voluntary buyer ..." refers to the one who has the motives to buy, but nobody forces it to do it. Such a buyer is not ready to pay any price - neither for too hot will, nor for acute necessity. This buyer, in addition, makes a purchase, acting in accordance with the realities and expectations of the current market, and not an imaginary or hypothetical market that cannot be seen or believing in its existence. The estimated buyer will not pay the price above the one that the market dictates him. The current property owner is also among those who constitute this "market." The appraiser should not make unrealistic assumptions about the conditions and status of the market or to assume the level of market value above reasonable. In some countries, it is specifically to note this important circumstance, in determining the market value, the words about the voluntary buyer are lowered.

3.2.5. "... voluntary seller ..." Does not burn from the desire to sell, not forced to sell at any cost at any price, and also not inclined to insist on price if it is not considered reasonable in the current market. The voluntary seller is interested in selling property on market conditions after adequate marketing on the maximum possible price in the open market, Whatever this price is. The actual details associated with the real owner of the property are not accepted in this case, since the "voluntary seller" is the hypothetical owner.

3.2.6. "... As a result of a commercial transaction ..." means that there are no special specific relationship between the parties (for example, maternal and subsidiary or home owner and tenant), which can be expressed in an atypical price due to the presence of a special cost element. The transaction that determines the market value should occur between the parties that are not related to among themselves by special relations and in force regardless of its own interests.

3.2.7. "... after adequate marketing ..." means that property should be put up on the market for sale in the most appropriate way in terms of obtaining the maximum price from really possible in accordance with the definition of market value. The duration of marketing can be different depending on market conditions, but in any case should be sufficient so that the property attracted the attention of the adequate number of buyers. Naturally, it is assumed that the marketing period is preceded by the date of evaluation.

3.2.8. "... Each of the parties acted competently, gravily ...": It is assumed that both the voluntary buyer and the voluntary seller are sufficiently informed about the essence and characteristics of the property being sold, its existing use and potential application, as well as the market status At the date of evaluation. Further, it is believed that each of them, possessing this information, acts in its own interests, asking for an exceptionally, trying to achieve the best in terms of its position in the price transaction. Excusability is understood in the sense of the desire for the benefit at the time of the assessment, and not a certain foresight of the situation. It is optional is unshakable for the seller in the market conditions with falling prices to sell property at a price below previous levels of market prices. In this case, as in other situations on the purchase - sale in conditions of changing prices, the calculating buyer or the seller acts in accordance with the most complete information about the state of the market available at the moment.

3.2.9. "... And without coercion.": The focus is on the fact that each of the parties is interested in making a transaction, but none of them is forced by any of them and is not pushing it.
3.3. The market value is understood as the value of the property, calculated without reference to trade costs and exclude any related taxes.

4.0. Accounting Accounting Standards
4.1. There are a lot of terms used by both appraisers and accountants. In some cases, this can lead to misunderstandings and possible distortion of the meaning of standards. In the ICOI, Standard 1 formulates the definition of market value and discuss the general concepts associated with market value standards. Some other important terms defined in the ICOHOs standards 1 and 2 are the basis for the formulation of the more special requirements of the ICOHO standard 3.

4.6. In some states, the appraiser may be forced to use some special definition of market value, satisfying certain legislative and regulatory requirements of jurisdiction, within which evaluation work is performed.
5.0. Formulation standard
5.1. Before committing property assessment obligations, the appraiser must determine whether it has sufficient knowledge and experience to fulfill work in accordance with these standards and other generally accepted assessment principles; In other words, he must:
Before committing commitment to bring any inconsistency to any of the professional qualities;
Take all the necessary steps for competent performance;
To perform work in the accompanying report, it is clear to state the situation and steps taken to adequately reflect.
5.2. When conducting a market assessment, the appraiser must understand and correctly apply the established methods and procedures necessary to obtain a reliable assessment.
5.3. When conducting a market assessment, the appraiser must adequately identify the estimated property associated with it, the estimates and the planned use of its results, the scale of the data collection process, overvalued restrictions, the effective evaluation date.

5.5. In the market evaluation report, the appraiser must:
5.5.1. Say the results of the assessment - exhaustive, accessible and uniquely interpreted manner.
5.5.2. Provide users with a report, sufficient information for understanding its source data, arguments, analysis and conclusions.
5.5.3. Formulate all assumptions and restrictions on which the evaluation process was based.
5.5.4. Clearly identify and describe the estimated property, as well as the nature and scale of its research.
5.5.5. Identify the evaluated interest or interests.
5.5.6. To define the estimated cost, establish an effective evaluation date and date of the report.
5.5.7. Give a complete, exhaustive explanation of the applied assessment bases, the argumentation of their application and the conclusions made.
5.5.8. Include in the report certified by an act confirming the objectivity of the assessment, fixed (independence from the results of the assessment) of the professional fee or any other compensation; contain information about the applicability of standards and other explanatory materials.
6.0. Remarks
6.1. The concept and definition of market value are fundamental for all the practice of assessment. In the chapter "General concepts and principles of evaluation", which these standards relieve, briefly explain the most important economic and procedural points.

6.11. In exceptional cases, market value can be expressed by a negative value. Such situations include some cases of lease based, specific objects of specialized property, outdated ownership with the amount of demolition costs exceeding the value of the land plot, some environmentally unfavorable objects and others. In some countries, the presence of negative value of value in the financial statements is not provided.
7.0. Requirements for the report structure
7.1. The evaluation report should not allow ambiguous interpretation or misleading. The assessment made in calculating the market value must comply with the requirements of section 5. The report should contain a description of a specific application of the concept of market value in the sense of the definition given in these standards, along with an indication of how the cost in terms of utility or the most efficient use was considered. (or the most likely use), and the wording of all significant prerequisites.

7.4. In the event that the assessment is carried out by the "internal appraiser", i.e. Those who work either at the enterprise owned by the estimated property, or in an accounting firm responsible for the conduct of financial documentation and / or the preparation of the financial statements of the enterprise, the Special item must be present in the act or evaluation report, the presence and nature of such relationships.
8.0. The conditions of retreat from the standard
8.1. In some states, the appraiser may be forced to use or refer to some specific definition of market value to comply with the legal or regulatory requirements of jurisdiction, within which an assessment is carried out. If the score results will be distributed beyond jurisdiction to the scope of international standards or in cases where the local definition can lead to incorrect interpretation, the appraiser should also use the definition provided in these standards, and indicate whether the choice of alternative definition to changes in the results Estimates.
9.0. Date of entry into force
9.1. This International Evaluation Standard entered into force on March 24, 1994.

In the context of the accelerating rates of globalization of investment markets, the need for the development of recognized standards recognized at the international level to determine the cost of property has appeared. It became apparent that there is significant potential for the emergence of misunderstanding in the absence of international standards of assessment. Differences of the point of view among national assessment organizations led to a lack of mutual understanding. In response to this situation, members of the Technical Committee of the Royal Institute of Charter Servest (RICS), having the right to hold estimates in the UK, and representatives of the United States evaluating organizations began a dialogue, which led in 1981 to the basis of the International Asset Evaluation Standards Committee (MKSOA - TIAVSC ). In 1994, the Committee has changed its name and is now known as the International Assessment Standards Committee (MKSO - IVSC).

The functions of the ICSO include developing and approving international assessment standards (MSO). Evaluation standards are constantly changing and adjusted depending on the changes in the market environment. The editors of MSO were published in 1985, 1994/97, 2000, 2001, 2003, 2005. The evolution of these standards indicates the recognition of the ICSO that changes are inevitable and occur continuously even when this process occurs gradually and cannot be easily detected.

Currently there are MSO-2007, which are mostly agreed with international accounting standards (IFRS).

The MSO-2007 made the following changes compared to MSO-2005:

new standard MSO 2 "Base of value different from market value";

new application of the assessment of MPO 2 "Cost evaluation for the purposes of secured lending";

new application of MPO 3 "Assessment of the value of the state-public (public) sector's assets for financial statements";

Management of MR - 8 "The cost approach for financial statements - AZZ (addition, clarifying a test for adequate profitability);

new leadership of MR-15 "Assessment of the cost of historical property".

Methods of assessment in MSO are not described in detail. As such, this standard was developed as a brief introduction into a difficult subject of assessment practice. The main goal of MSO is a description of the basic recognized methods for determining the cost, as well as the establishment of basic rules of their use. In addition, the standard requires a detailed description of the assessment methods, assumptions, initial data and calculations when reporting. Standard is not a real estate assessment textbook, it also does not describe mathematical procedures of various methods.

A feature of modern conditions that determine the development of evaluation activities are the processes of internationalization and harmonization of procedures related to the economic trafficking of property. Currently, the ICCO has achieved widespread and recognition of international standards.

Evaluation standards must provide:

mutual understanding and constructive interaction between all subjects of appraisal activities;

establishing clear requirements for the most important components of the assessment process, as well as its results;

the unification of the compound requirements and the forms of submission of documents reflecting the results of the assessment;

the stability of qualitative indicators of the appraisal services provided;

formation of rules and procedures for ensuring the necessary quality of assessment services, as well as the creation of a regulatory framework for their certification, in accordance with international standards, regulations and regulations;

establishing requirements for ensuring the unity of the methods used to ensure the reproducibility of the assessment results;

development of a system of terms and definitions of basic concepts used in valuation activities;

creation and maintenance of the classification system and encoding technical and economic information used in assessing;

the formation of the regulatory framework of the training system and advanced training of appraisers;

creating conditions for effective monitoring of the compliance of the activities of appraisers established requirements and conditions;

formation of an effective information exchange system related to the appraisers of appraisal activities.

Unified Evaluation Standards are created within the framework of the European Union by the European Group of Assertainment Associations (TEGOVA), created as a non-profit association of national appraisers in 1977. TEGOVA has developed and published European assessment standards (ECO), consistent with IFRS. Directive Council of Europe The application of these standards is recommended for all countries of the European Union. TEGOVA works in close cooperation with MKSO (IVSC).

General standards and methodologies make it possible to carry out reliable assessments in public and private interests with significant benefits for commerce and industry, the financial and institutional investment sector, as well as for broader sectors that depend directly or indirectly from the economic efficiency of these sectors.

Many countries due to the characteristics of their system of legislation on property issues, taxation, finance accept their national evaluation standards. Evaluation standards are developed by government agencies and public self-regulatory organizations in order to establish the requirements for classification, source data, the process and the results of evaluating activities.

In the Russian Federation, "Evaluation Standards, Mandatory Subjects of Appraisal Activities", which are approved by the Government of the Russian Federation (Resolution No. 519 of 06.07.2001) were developed. In addition, by the decision of the Board of the Russian Society of Appraisers (Protocol No. 56 dated December 15, 2004), a set of evaluation standards was introduced, which is intended for use in the Russian Federation, as well as in the partner community with organizations of appraisers of the CIS countries.

In 2002, the Council of Associations of CIS appraisers (SO & CIS) was created at the first International Congress of the CIS appraisers held in Minsk. It was in Minsk that the Directorate of this International Organization is located, one of whose members is the public association "Belarusian Society of Appraisers" (BOO). An appraisers of the CIS are discussed on the annual Congress Congress, current issues of valuation activities, the problems of regulating appraisal activities in the CIS countries are discussed. All types of regulation are considered: legislative regulation, standardization based on international and national evaluation standards, self-regulation, in which, such as in Russia, it is necessary to be a member of the national public organization of appraisers.

Our country on international standards belongs to countries with the emerging market. Therefore, attention should be paid to the information document on the emerging markets (MSO 2005).

Specific economic, legal and institutional characteristics of emerging markets put special problems for appraisers. However, as indicated in MSO, appraisers working in such markets should not bypass the basic concepts and generally accepted assessment principles.

In the Republic of Belarus, evaluation standards are created in accordance with the economic conditions of developing market relations and the structure of public administration on the basis of legislation, norms and rules of the state standardization system. The decision to develop state standards for assessing the value of civil rights facilities was adopted by decree of the President of the Republic of Belarus dated October 13, 2006 No. 615 "On appraisal activities in the Republic of Belarus" (hereinafter referred to as Decree No. 615).

Decree of the State Committee on Standardization of the Republic of Belarus dated March 14, 2007 No. 15 approved and put into force the following state standards of the Republic of Belarus:

STB 52.0.01-2007 "Assessment of the value of civil rights facilities. Basic provisions ";

STB 52.1.01-2007 "Assessment of the value of civil rights facilities. Evaluation of enterprises as property complexes (business) ";

STB 52.2.01-2007 "Assessment of the value of civil rights facilities. Estimation of land plots ";

STB 52.3.01-2007 "Assessment of the value of civil rights facilities. Assessment of capital buildings (buildings, structures), not completed by the construction of objects, isolated premises as real estate objects ";

STB 52.4.01-2007 "Assessment of the value of civil rights objects. Evaluation of machinery, equipment, equipment, materials ";

STB 52.6.01-2007 "Assessment of the value of civil rights facilities. Evaluation of vehicles. "

The system of standards for assessing the value of civil rights facilities (hereinafter - SSHP) is a complex of interconnected standards of evaluation, establishing provisions, rules and requirements providing regulatory, methodological, organizational unity in determining the value of the assessment facilities, the provision of assessment services, as well as the interaction of stakeholders in Areas of valuation activities.

SCHP positions establish: general requirements and definitions, basic concepts and types of value used in evaluating activities; General requirements for source information; methods of evaluation, methods for calculating the cost and region of their use; general procedure for evaluation and requirements for its results; General requirements for results and evaluation documents.

In STB 52.0.01-2007, the following types of cost are identified (Fig. 1.2).

In accordance with STB 52.0.01-2007, the market value is the cost, according to which the most likely seller of the assessment object agrees to sell it, and the buyer of the assessment facility agrees to acquire it. At the same time, the following conditions are taken into account: the parties to the transaction have sufficient awareness of the assessment facility and the market of analog objects; The parties of the transaction act competently, prolocably, voluntarily and conscientiously; The assessment object is represented by the seller in the form of a public offer on the market; The seller and the buyer have enough time to select a transaction option; On the seller, additional obligations are not imposed, except for obligations to convey the assessment object, and the buyer does not impose additional obligations, except for the obligation to accept an assessment object and pay for it a certain amount of money.

Fig. 1.2.

For comparison, I will give the definition of market value, approved by IVSC / TEGOVA: "Market value is the calculated amount for which property should be exchanged on the date of the assessment between the Ready to buy a buyer and ready to sell the Seller in a commercial deal after due marketing, during which each party acted competently , prudently without coercion. "

In essence, these definitions reflect a single approach to market value.

Standardization of appraisal activities is scientific and practical activities aimed at achieving the necessary order of orderliness in the field of appraisal activities through the establishment of general provisions for the use of appraisal activities in solving existing or possible tasks.

A feature of the entire modern system of international, European and national standards is the understanding of the methodological foundations of assessing the value of property as the best generally accepted practice and recognition of its criterion of truth. To date, interdisciplinary agreements have been reached between the main international organizations on the standards of certain types of professional activities, which should be attributed to the field of economic measurements. Problems of European standards and national standards of individual countries are resolved by bringing them in line with international standards, taking into account those features that can be evidenced by comparison with international standards. Otherwise, contradictions are arising with international institutions, which in the past two decades have become regulators of economic processes in the world. Understanding the modern Belarusian economy, as a full-part in the global economic community, allows us to relate to it with generally accepted international positions.

Successes that in the most recent years have been achieved in the harmonization and internationalization of the best generally accepted practice, do not remove from the agenda, and, on the contrary, exacerbate the issues of improving the methodological foundations of the assessment, its scientific validity. Increasing attention is paid to the economic and theoretical, financial and legal and information technology grounds for the modern practice of economic dimensions, which are engaged in different disciplines, and among them the estimated activity performs a unifying methodological function - as an applied expression of modern views in economic knowledge.

It should be noted that in international practice a special phenomenon in economic dimensions was the creation of special standards in recent years for the state (public) sector of the economy. In financial statements, this is a whole set of IFRS GS. International assessment standards have already included guidelines for evaluating the organizations of this sector in accordance with IFRS GS.

Evaluating standards in our country apply to all forms of ownership. Separate valuation standards for public sector are not provided. Features of the assessment of state property are governed by legislative acts.

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