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An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations
Thesis (MScFor)--Stellenbosch University, 2015.
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2016
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| _version_ | 1867613836932022272 |
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| access_status_str | Open Access |
| author | Baptista, Carl |
| author2 | Ham, Cori |
| author_browse | Baptista, Carl Ham, Cori |
| author_facet | Ham, Cori Baptista, Carl |
| author_sort | Baptista, Carl |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MScFor)--Stellenbosch University, 2015. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/98286 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:42:28.529Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2016 |
| publishDateRange | 2016 |
| publishDateSort | 2016 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/98286 An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations Baptista, Carl Ham, Cori Howard, Michael Stellenbosch University. Faculty of AgriSciences. Dept. of Forest and Wood Science. Forest valuation IAS 41 Pulpwood industry Pulpwood -- Plantations -- Variation UCTD Thesis (MScFor)--Stellenbosch University, 2015. ENGLISH ABSTRACT: This study sought to assess the possible variations within International Accounting Standard (IAS) 41 compliant valuation methodologies used within South Africa to estimate the value of pulpwood plantations. IAS 41 compliant valuation models were collected from valuation consultants and companies active within the South African forestry sector. Along with the collection of models, model input parameters and methods for the determination of input parameters were retrieved. Models were amended to accept default standardised inputs. These default inputs consisted of case study plantation data sourced from an unnamed plantation in South Africa. Valuations were calculated for this case study plantation using the various models, and used to assess the possible variances between model valuation outputs. In this way the variances derived from the different model mechanisms could be compared to each other. A sensitivity analysis was then performed in order to understand the effect of each parameter upon the valuation output of each model. This study indicated that there are significant differences between valuation outputs as calculated from a range of IAS 41 compliant valuation models. The collected parameters and parameter classification data also highlighted that certain parameters, age class and growth rate in particular, were being calculated or determined in different ways by users resulting in further sources of potential variance in the calculated values produced by the models. The study concluded with an evaluation of each of the six unique models in the study. Two main aspects were identified that need to be addressed namely: (i) The standardisation of a model to be used for all valuation purposes; (ii) The provision of rigid guidelines regarding the standardisation of model input parameters. AFRIKAANSE OPSOMMING: Die studie onderneem om die moontlike variasie tussen waardasie metodes wat in Suid Afrika gebruik word om die waarde van pulphoutplantasies te bepaal en wat aan die Internasionale Rekenkundige Standaard (IRS) 41 voldoend te evalueer. Waardasie modelle wat aan die IRS 41 voldoen is versamel van waardasie konsultante en maatskappye betrokke in die Suid Afrikaanse bosbou sektor. Saam met die versamelde modelle is model inset parameters en metodes vir die bepaling van inset parameters verkry. Modelle is verander om standard insette te aanvaar. Hierdie standard insette bestaan uit gevallestudie plantasie data wat verkry is vanaf ‘n annonieme plantasie in Suid Afrika. Waardasies is uitgevoer vir die gevallestudie plantasie deur middel van die verskillende modelle en uitsette is gebruik om die variansie tussen modelle te evalueer. Deur hierdie metode kon die variasie weens die verskillende model meganismes met mekaar vergelyk word. ‘n Sensitiwiteitsontleding is uitgevoer om die effek van elke parameter op die waardasie uitsette van elke model te verstaan. Die studie dui aan dat daar beduidende verskille tussen waardasie uitsette is, soos bereken met die reeks van waardasie modelle wat aan IRS 41 voldoende. Die versamelde parameters en parameter klassifikasie data dui aan dat sekere parameters soos ouderdomsklas en groeitempo op verskillende mainere bereken is deur gebruikers en dat dit lei tot verdere variasie in die berekeninge van die modelle. Die studie sluit af met ‘n evaluasie van die ses unieke modelle wat gebruik is. Twee hoof gevolgtrekkings wat aangespreek moet word is: (i) Die standardisasie van ‘n model vir all waardasie doeleindes; (ii) Die voorsiening van riglyne vir die standardisasie van model inset parameters. 2016-03-09T14:00:52Z 2016-03-09T14:00:52Z 2016-03 Thesis http://hdl.handle.net/10019.1/98286 en_ZA Stellenbosch University 174 pages application/pdf application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Forest valuation IAS 41 Pulpwood industry Pulpwood -- Plantations -- Variation UCTD Baptista, Carl An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title | An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title_full | An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title_fullStr | An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title_full_unstemmed | An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title_short | An assessment of variation within IAS 41 compliant methodology used in South Africa to estimate the value of pulpwood plantations |
| title_sort | assessment of variation within ias 41 compliant methodology used in south africa to estimate the value of pulpwood plantations |
| topic | Forest valuation IAS 41 Pulpwood industry Pulpwood -- Plantations -- Variation UCTD |
| url | http://hdl.handle.net/10019.1/98286 |
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