Here are the questions attorneys typically ask when inquiring about our services:
Will a certified report prepared by Capital Machinery and Equipment Appraisals stand up to IRS and court scrutiny?
Yes. A certified report prepared by our professional CMEA team is substantiated and irrefutable. It is written in compliance with the Uniform Standards of Professional Appraisals Practice (USPAP) .
What information is included in a certified appraisal report?
In order to be USPAP compliant, a certified appraisal report includes specific information about the subject property. These facts will withstand scrutiny by any interested party, including the IRS, lenders, attorneys, and members of the judiciary system.
A certified report prepared by Capital Machinery and Equipment Appraisals will include the following defensible information regarding the subject of your client’s appraisal:
- Summary of facts
- Scope of work
- Degree to which the property is inspected or identified
- Extent of research into the physical or economic factors that could affect the property
- Extent of data research
- Type and extent of analysis applied in arriving at opinions or conclusions
- Depth of on-site inspection
- Overall condition of equipment
- Intended use
- Definitions of conditions
- Methods of evaluation
- Sources contacted
- Final value summary and reconciliation
- Appraiser’s certifications and qualifications
How can you place a value on items you have not seen?
The practice of appraising items not seen is called a desktop appraisal. A desktop appraisal is required in situations where the assets are scattered over a large geographic area, or the attorney’s client wants to keep the cost of the appraisal down. Desktop appraisals are based solely on the information provided by the attorney’s client.
What type of equipment do you appraise?
We serve a variety of industries and can accommodate most requests. Please contact us directly for further information regarding your case.
Will a CMEA prepared report stand up to IRS and court scrutiny?
Yes! A certified report prepared by a CMEA is substantiated and irrefutable and will hold up to the highest levels of scrutiny. A CMEA prepared report is written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). These standards were promulgated by the U.S. Congress and is accepted around the world as the authoritative source for machinery and equipment appraisals.
Is there a problem with surface level information when it involves machinery and equipment?
Yes! If your client’s machinery and equipment appraisal relies on surface level information, your client will not obtain a true value. The team at Capital Machinery and Equipment Appraisals specializes in substantiating facts of each asset for your client, providing real, current values they can trust.
What are Capital Machinery and Equipment Appraisals’ qualifications?
Kevin Scott, CPA, MBA, CMEA is the founder and owner of Capital Machinery and Equipment Appraisals. He has extensive experience in deriving machinery and equipment appraisals, litigation support, pre-audit planning, reconstructive accounting, turnarounds, and management advisory services regarding acquisition and divestiture options.
Mr. Kevin Scott is affiliated with the NEBB Institute (NEBB), and American Institute of Certified Public Accountants (AICPA).