Risk management and safety
Production and infrastructure subsystems efficiency assessment
Smolyak S.A. Assessment of machinery and equipment depreciation using the method used in the systems of national accounts
Information Technology
Mathematical models of socio-economic processes
Recognition of images
Smolyak S.A. Assessment of machinery and equipment depreciation using the method used in the systems of national accounts
Abstract: 

We offer a model for estimating the value of used machinery and equipment. It takes into account the requirements of valuation standards, information of equipment items durability and is based on the method used in the system of national accounts. The market value of equipment item is determined by the sum of the discounted benefits from their subsequent rational use. In this case, the service life of the equipment items has a Weibull distribution, and the dynamics of the benefits it brings is described by a hyperbolic relationship, as is customary in the system of national accounts of Russia and some other countries. The proposed method allowed us to calculated the dependences of equipment value on age. For practical application, we divided the equipment into classes and presented the indicated dependences for each class in tabular and graphical form.

Key words: 

machinery, equipment, valuation, depreciation, cost approach, income approach, benefits, lifetime, Weibull distribution, national accounts

PP. 44-54.

DOI: 10.14357/20790279210105
 
References

1. International Valuation Standards: Effective 31 January 2020. International Valuation Standards Council.
2. European Valuation Standards 2016. Eighth Edition. TEGoVA.
3. Veyg N.V. (2009). Macinery and equipment valuation : tutorial. St Petersburg. SPbGUEF. (in Russian)
4. Leyfer L.A. (ed.) (2019). Reference book of the appraiser of machinery and equipment. Corrective factors and characteristics of the market of machinery and equipment (2nd ed.). Nizhny Novgorod, Russia: Volga Center for Methodological and Informational Support of Assessment. (in Russian)
5. Leyfer L.A., Kashnikova P.M. (2008). Residual life of machinery and equipment calculation based on probabilistic models // Property relations in the Russian Federation. Vol. 1. (in Russian)
6. Methodological guidelines for calculating consumption of fixed capital. Approved by the Order of Rosstat dated February 9, 2011 No 32.
7. Myshanov A.I., Roslov V.Yu. Calculation of the total equipment depreciation: In 2 parts. // Part 1: Expert - Equipment: market, offers, prices (February 2007), with additions and corrections to Part 1: Expert - equipment: market, offers, prices (April 2007). Part 2: Expert - Equipment: market, offers, prices (March 2007).
8. Ostreykovsky V.A. (2003). Reliability theory: textbook for universities. Moscow: Vysshaya schkola (in Russian)
9. System of National Accounts 2008. (2009). European Commission, International Monetary Fund, Organization for Economic Co-operation and Development, United Nations, World Bank. New York.
10. Smolyak S.A. (2014). The dependence of value of equipment on age: problems and models // Audit and financial analysis. No. 5. (in Russian)
11. Smolyak S.A. (2016). Machinery and equipment valuation. Moscow. Option. (in Russian)
12. Smolyak S.A. (2017). On probabilistic models for assessing the residual service life and depreciation of machinery and equipment // Property relations in the Russian Federation. Vol. 2 (185), 75-87. (in Russian)
13. Smolyak S.A. (2020). On the dynamics of depreciation of machines with a random service life // Proceedings of the Institute for System Analysis of the Russian Academy of Sciences. Vol. 70, Issue 1, 55-64 (in Russian)
14. Fedotova M.A. (ed.) (2018). Machinery and equipment valuation: textbook. 2nd ed. Moscow. INFRA-M. (in Russian)
15. AH 581. Assessors’ Handbook 581. Equipment and Fixtures Index, Percent Good and Valuation Factors. January 2020. California State Board of Equalization
16. AH 582. Assessors’ Handbook 582. The Explanation of the Derivation of Percent Good Factors. 1981. California State Board of Equalization
17. ASNA. Australian System of National Accounts. Concepts, Sources and Methods. (2016). Australian Bureau of Statistics.
18. Barth N., Cappelen A., Skjerpen T., Todsen S., Abyholm T. (2016). Expected service lives and depreciation profiles for capital assets : Evidence based on a survey of Norwegian firms // Journal of Economic and social measurement. V. 41, 329- 369.
19. Eurostat-OECD survey of national practices in estimating net stock of structures. OECD, Eurostat
 

2024-74-3
2024-74-2
2024-74-1
2023-73-4

© ФИЦ ИУ РАН 2008-2018. Создание сайта "РосИнтернет технологии".