Incorporating Highest and Best Use into Accounting Standards Expands Opportunities for Appraisers

摘要

Never before have politicians and accounting rule makers focused so much attention on the concept of fair value. This fast-moving and evolving area of financial reporting establishes a need to value real property as well as the more-often discussed security investment portfolios. Appraisers familiar with the current and developing valuation standards of the accounting profession, and the differences with current appraisal rules, are positioned to provide much-needed real property valuation services. This article explores and explains these developments and describes how real estate appraisers may benefit from them.