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16 Apr 2007
Property valuations in company accounts should be revamped to reflect the fees paid on sale, a leading property industry figure has said.
Sir Donald Gordon, former chairman of Liberty International, told the FT that he thought that the system of accounting that excludes the fees leads to an undervaluation of listed property companies as a whole.
Properties that cost £100m may effectively cost up to several million pounds more when stamp duty and fees are taken into account, Sir Donald said.
The former property magnate intends to pursue the issue with accounting regulators, the paper reported.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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