Valuation Guidance for Property, Plant and Equipment, Including Specialised Items in the Health and Education Sectors

These guidelines have been prepared to assist public sector reporting entities and their valuers (and particularly those within the health and education sectors) to comply with the valuation requirements of the New Zealand Equivalent to International Accounting Standard 16: Property Plant and Equipment (NZ IAS 16) and Crown accounting policies in relation to NZ IAS 16. They are also intended to help achieve consistency in such valuations. These guidelines predominantly focus on specialised items of property, plant and equipment (which are the majority of assets in the health and education sectors). These comprise assets that are not regularly bought and sold in the market, and therefore need to valued on a depreciated replacement cost basis.