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Intended Use

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Alan Simmons

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Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
While studying today I came across a definition. The textbook did not specifically intend it for appraising, however for the most part asset valuation and analysts is what the section is about. I thought it might (with some fine-tuning) be a part to an Intended Use.

“[Appraising] a service activity whose function is to provide quantitative information, primarily financial in nature, about economic entities that is intend to be useful in making economic decision---in making reasoned choices among alternative courses of action.”
 

Fred

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Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
Alan,
In what ways are "asset valuation" and "appraising" not the same thing?

Yes, the intended use of all appraisals is to support a decision.
for a lender to decide how much to lend
for a condemning agency or court to decide on just compensation
for a taxing authority to decide how much tax is owed
etc. etc.
"Valuation for Real Estate Decision" (1972) by Richard Ratcliff is one of the best books floating around out there for further reading on this topic.
 
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