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首页> 外文期刊>Australian Forestry >Forest valuation and the AASB 141 accounting standard.
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Forest valuation and the AASB 141 accounting standard.

机译：森林评估和AASB 141会计准则。

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This paper examines issues relating to forest valuation using the Australian Accounting Standards Board accounting standard AASB 141 for large and medium-sized forestry entities. Current practices generally follow AASB 141:25 that states that an independent valuation of land may be deducted from the present value of the combined asset to yield a value for the living trees (i.e. value of the biological asset), from which gains or losses relative to the previous year may be brought to account in the income statement. Such an approach distorts the income statement by gains and losses that are arbitrarily one-sided because the value of the living trees becomes a residual whose value is influenced by any movements in land value, sometimes masking the inherent productivity and value of the living trees. The paper reviews key terminology and principles of AASB 141 and other standards, including the definitions of biological assets, non-current assets, fair value, active markets, combined assets, and highest and best use. In the absence of an active market for medium and large forestry assets, which is generally the case in Australia and New Zealand, the estimation of fair value using the present value of expected cash flows is central to valuation. Whatever the respective form of ownership, land and living trees constitute a combined asset in which the roles are inseparable biologically. To be consistent with the use of fair value of the combined asset based on the present value of expected cash flows, the planning horizon needs to be extended to a uniform future year for the entire asset. This is to enable the optimum schedule of wood and cash flows and hence the maximum present value to be estimated. An operational method is described to derive the present value of the living trees (the biological asset value as rigidly defined in AASB 141) by discounting the cash flows relating solely to those living trees, in essence the current crop. Segmenting those cash flows from those used in evaluating the present value of the combined asset can do this. Assuming the going concern is viable, such that forestry is the highest and best use, the remaining issue is how to ensure that the fair value of the combined asset is properly reflected in the balance sheet. This can be done by deducting the present value of the living trees (i.e. the value of the biological asset) from that of the combined asset (after due adjustment for land improvements). The resulting present value of 'future rotations' should then be shown as a non-current asset under 'property, plant and equipment'. Finally, the discount rates used in forest valuations generally allow for taxation (and risk) in using a weighted average of the discount rates for equity and debt. Post-tax evaluation of cash flows is therefore recommended, rather than pre-tax, subject to avoiding double counting of any tax liabilities or debts elsewhere in the accounts..
机译：本文使用澳大利亚会计标准委员会会计准则AASB 141针对大中型林业实体研究与森林评估有关的问题。当前的惯例通常遵循AASB 141：25，该准则规定，可以从合并资产的现值中扣除土地的独立估值，以得出活树的价值（即生物资产的价值），相对而言，该收益或损失上一年度的差额可在损益表中入账。这种方法由于损益表单方面的损益扭曲了损益表，因为活树的价值变成了残值，其剩余价值受到土地价值的任何变动的影响，有时掩盖了活树的固有生产力和价值。本文回顾了AASB 141和其他标准的关键术语和原理，包括生物资产，非流动资产，公允价值，活跃市场，合并资产以及最高和最佳使用的定义。在没有大中型林业资产活跃市场的情况下（澳大利亚和新西兰通常如此），使用预期现金流量的现值估算公允价值对估值至关重要。无论所有权的形式如何，土地和活树都是一种组合资产，其作用在生物学上是不可分割的。为了与基于预期现金流量的现值的合并资产的公允价值的使用保持一致，需要将整个资产的计划范围扩展到统一的未来年度。这是为了使木材和现金流量的最佳计划成为可能，从而可以估计最大现值。描述了一种操作方法，通过折现仅与那些活树有关的现金流量（实质上是当前作物）来得出活树的现值（在AASB 141中严格定义的生物资产价值）。从用于评估合并资产现值的现金流量中分离出现金流量即可做到这一点。假设持续经营是可行的，使得林业是最高和最佳的利用方式，那么剩下的问题就是如何确保合并资产的公允价值正确反映在资产负债表中。这可以通过从合并资产的现值减去活树的现值（即生物资产的价值）（适当调整土地改良后）来实现。然后，应将“未来轮换”的最终现值显示为“财产，厂房和设备”下的非流动资产。最后，在森林估值中使用的折现率通常允许对权益和债务折现率的加权平均值使用税收（和风险）。因此，建议对现金流进行税后评估，而不是税前评估，以免重复计算帐目中其他地方的任何税项负债或债务。

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