Impairment Everything old is new again. Working our way through the current pandemic brings back memories of the previous financial crisis and its impairments. The rules for asset impairment remain the same this time around. ASC 360-Property, Plant, and Equipment or...
We wanted to provide an update to our April 10, 2020 article “Virtual Inspection approaches in the wake of the COVID-19 Pandemic”. Over the past two months we have completed a number of inspections using in part some of the following procedures: Provided clients with...
The COVID-19 pandemic has dramatically altered the appraisal environment. For Machinery and Equipment (“M&E”) valuations, one example of change during this challenging time will be a temporary hold on the ability to conduct on-site inspections or inventories as...
There has been much debate over the years concerning open-air parking structures and whether the structure, for depreciation purposes, should be depreciated as 39-year nonresidential real property or 15-year land improvements. The Internal Revenue Service Large and...
Over time, certain assets, such as machinery, equipment and other tangible personal property become less valuable. An automobile is a common example of an asset that loses value over time. The loss in value can be due to three forms of obsolescence; physical,...
The average passenger automobile has over 30,000 individual parts, a modern 747 has over 6 million parts, and the now retired NASA space shuttle contained over 2.5 million moving parts. It is impossible to calculate the combined labor, materials, logistics, research...
