Värdering av fastigheter i allmännyttiga bostadsföretag : Uppsats inom magisterprogram med ämnesbredd med inriktning mot fastighetsförmedling
Abstract (Summary)Title:Valuation of real estate in public housing companiesAim:According to the IAS 40 listed companies shall establish the true value of their administrative real estates on the balance date. Public housing companies are not listed. Their financial reports are partly governed by other accounting and valuation regulations than those that apply to listed companies. The fundamental question for this thesis is which regulations that apply to the valuation of real estates for public housing companies and how the valuation is described and presented in the annual reports of the companies.The purpose of this thesis is to draw attention to certain issues related to the valuation of properties in public housing companies.Method:The fundamental question for this thesis has made me choose a descriptive and explorative approach where the conditions for generalization are limited. The investigation is aimed in depth rather than mass. It has been given a so called intensive direction. A qualitative method has been used.Data has been collected through documents review and by individual open interviews. The interviews have been of a conversational character with intent of being a compliment to the documents review. The document review has been based on public press, regulations from normative authorities and annual reports.The selection of objects and source of information in the empirical part has been implemented on the basis of the principal – most suitable for illustrating the fundamental problem.Result and Conclusions:The investigation has shown that there is a certain amount of ambiguity concerning the norms of accounting and valuation. A present project within the Swedish Accounting Standards Board aims to obtain increased clarity.In the study’s empirical part it shall be noted that larger companies carry out a systematic and periodic valuation.Information given by smaller company’s does not show that the requirements in laws are fulfilled, concerning portrayed values to true values.Suggestions for future research:Most company’s lack information concerning examination of presented values compared to real values. This can indicate that many companies could conceal significant means of write downs. Exposure of these would in many cases mean a necessary infusion of capital in order to avoid insolvency. With this in mind, the board and accountants choose to lie low when it comes to the question of valuation.Contribution of the thesis:The board of directors as well as auditors within small and medium size public housing companies can benefit from studying this paper.Key words:Public housing, municipal real estate company, real estate, valuation, accounting.
School:Högskolan i Gävle
Source Type:Master's Thesis
Date of Publication:05/28/2008