📊 Valuation Fields Data Dictionary

📋 Overview

This document provides a comprehensive data dictionary for valuation-related fields in the Asset Valuer Pro system. It maps technical field names to their business purpose, data types, validation rules, and usage examples across various valuation methods.

📋 Core Valuation Method Fields

The AssetValuationMethod abstract class defines these common fields for all valuation methods:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Gross	Decimal	Replacement cost	Yes	Gross replacement cost	500000.00
GrossLong	Decimal	Long-life portion	Yes	Long-life component of gross	375000.00
GrossShort	Decimal	Short-life portion	Yes	Short-life component of gross	125000.00
DepreciationAmountLong	Decimal	Long-life depreciation	Yes	Depreciation amount for long-life	75000.00
DepreciationAmountShort	Decimal	Short-life depreciation	Yes	Depreciation amount for short-life	60000.00
DepreciationAmountTotal	Decimal	Total depreciation	Yes	Total accumulated depreciation	135000.00
CurrentValue	Decimal	Fair value	Yes	Current/fair value	365000.00
CurrentValueLong	Decimal	Long-life fair value	Yes	Fair value of long-life portion	300000.00
CurrentValueShort	Decimal	Short-life fair value	Yes	Fair value of short-life portion	65000.00
AccumulatedDepreciation	Decimal	Accumulated depreciation	Yes	Total accumulated depreciation	135000.00
DepreciationExpense	Decimal	Annual depreciation	Yes	Annual depreciation expense	15000.00
DepreciationExpenseLong	Decimal	Long-life expense	Yes	Annual depreciation for long-life	9000.00
DepreciationExpenseShort	Decimal	Short-life expense	Yes	Annual depreciation for short-life	6000.00
WeightedAverageUL	Decimal	Weighted useful life	Yes	Weighted average useful life (years)	45.5
WeightedAverageRUL	Decimal	Weighted remaining life	Yes	Weighted average remaining useful life	32.75

📋 Direct Cost Valuation Method

The DirectCostValuationMethod extends the base class with:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
ComponentValuations	Collection	Component details	Yes	Component-level valuations	List of ComponentValuation objects
TotalApportionment	Decimal	Apportionment check	Yes	Sum of component apportionments	1.0 (100%)

Business Logic

Direct Cost valuation calculates asset value by summing component values:

// Simplified logic
public override decimal CalculateGross()
{
    return ComponentValuations.Sum(c => c.Gross);
}

public override decimal CalculateCurrentValue()
{
    return ComponentValuations.Sum(c => c.CurrentValue);
}

📋 Apportionment Cost Valuation Method

The ApportionmentCostValuationMethod extends the base class with:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
AssetReplacementCosts	Collection	Cost elements	Yes	Asset-level replacement costs	List of AssetReplacementCost objects
ComponentApportionments	Collection	Component allocations	Yes	How costs are apportioned to components	List of ComponentValuation objects

Business Logic

Apportionment valuation distributes asset-level costs to components based on apportionment percentages:

// Simplified logic
public override decimal CalculateGross()
{
    return AssetReplacementCosts.Sum(c => c.Gross);
}

// Components get apportioned values
private void ApportionToComponents()
{
    var totalGross = CalculateGross();
    foreach (var component in ComponentApportionments)
    {
        component.Gross = totalGross * component.ApportionmentPct;
    }
}

📋 Market Approach Valuation Method

The MarketValuationMethod extends the base class with:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Type	String	Market valuation type	Yes	Type of market approach used	"Direct Comparison"
PropertyValue	Decimal	Total property value	Yes	Total property market value	1200000.00
LandRate	Decimal	Land unit rate	Yes	Rate per unit of land area	750.00
LandArea	Decimal	Land area	Yes	Total land area	1500.00
LandAreaUnit	String	Area unit	Yes	Unit of measurement for area	"sqm"
LandTotal	Decimal	Land value	Yes	Total land value	1125000.00
ImprovementsPct	Decimal	Improvements percentage	Yes	Percentage for improvements	0.25 (25%)
ImprovementsValue	Decimal	Improvements value	Yes	Value of improvements	300000.00
MarketValue	Decimal	Final market value	Yes	Final determined market value	1425000.00
IndexationPct	Decimal	Indexation factor	No	Adjustment for time	0.03 (3%)

Business Logic

Market valuation uses comparable sales data and standard valuation techniques:

// Simplified logic
public override decimal CalculateGross()
{
    return MarketValue;
}

public override decimal CalculateCurrentValue()
{
    return MarketValue;
}

📋 Income Approach Valuation Method

The IncomeValuationMethod extends the base class with:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
LandRate	Decimal	Land unit rate	Yes	Rate per unit of land area	750.00
LandArea	Decimal	Land area	Yes	Total land area	1500.00
LandValue	Decimal	Land value	Yes	Total land value	1125000.00
ImprovementsPct	Decimal	Improvements percentage	Yes	Percentage for improvements	0.25 (25%)
ImprovementsValue	Decimal	Improvements value	Yes	Value of improvements	300000.00
MarketValue	Decimal	Final market value	Yes	Final determined market value	1425000.00
IncomeApproachItems	Collection	Income streams	Yes	Individual income streams	List of IncomeApproachItem objects

Income Approach Item Fields

Field Name	Data Type	Business Purpose	Required	Description	Example Value
ItemName	String	Income source	Yes	Description of income source	"Retail Tenancy"
Inflow	Decimal	Income amount	Yes	Annual income	120000.00
Outflow	Decimal	Expense amount	Yes	Annual expenses	40000.00
VacancyFactorPct	Decimal	Vacancy rate	Yes	Expected vacancy rate	0.05 (5%)
LeasedUpMonths	Integer	Lease-up period	No	Months to fully lease	3
CapitalisationRatePct	Decimal	Cap rate	Yes	Capitalization rate	0.07 (7%)
CapitalAdjustment	Decimal	Adjustment	No	Capital value adjustment	50000.00
NetFlow	Decimal	Net income	Yes	Net annual income	80000.00
Valuation	Decimal	Capitalized value	Yes	Capitalized income value	1142857.14

Business Logic

Income valuation capitalizes income streams to determine value:

// Simplified logic
public override decimal CalculateGross()
{
    return MarketValue;
}

public decimal CalculateNetFlow()
{
    return IncomeApproachItems.Sum(i => i.Inflow - i.Outflow);
}

public decimal CalculateCapitalizedValue()
{
    return IncomeApproachItems.Sum(i => 
        (i.NetFlow * (1 - i.VacancyFactorPct)) / i.CapitalisationRatePct + i.CapitalAdjustment);
}

📋 Insurance Valuation Fields

The Insurance class contains:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Coverage	String	Coverage type	Yes	Type of insurance coverage	"Full"
LeadBuildMonths	Integer	Lead time	Yes	Months required to rebuild	12
DemoMonths	Integer	Demolition time	Yes	Months required for demolition	2
ReplacementAdjustmentPct	Decimal	Adjustment factor	No	Adjustment to replacement cost	0.05 (5%)
EscalationFactorPct	Decimal	Cost escalation	Yes	Annual cost escalation rate	0.04 (4%)
ProfessionalFeesPct	Decimal	Professional fees	Yes	Professional fees percentage	0.10 (10%)
DebrisRemovalPct	Decimal	Debris removal	Yes	Debris removal percentage	0.05 (5%)
DebrisRemovalMinimum	Decimal	Minimum removal	No	Minimum debris removal cost	10000.00
DebrisRemoval	Decimal	Calculated removal	Yes	Calculated debris removal cost	25000.00
Total	Decimal	Base insured value	Yes	Base insured value	500000.00
EscalationFees	Decimal	Escalation amount	Yes	Calculated escalation amount	20000.00
ProfessionalFees	Decimal	Fees amount	Yes	Calculated professional fees	50000.00
TotalPlusEscalation	Decimal	With escalation	Yes	Total plus escalation	520000.00
TotalPlusEscalationPlusProfessional	Decimal	Full insurance	Yes	Full insurance value	570000.00

Business Logic

Insurance valuation calculates replacement cost with allowances for time delays:

// Simplified logic
public decimal CalculateEscalationFees()
{
    var totalMonths = LeadBuildMonths + DemoMonths;
    var annualFactor = Math.Pow(1 + EscalationFactorPct, totalMonths / 12.0) - 1;
    return Total * (decimal)annualFactor;
}

public decimal CalculateProfessionalFees()
{
    return TotalPlusEscalation * ProfessionalFeesPct;
}

public decimal CalculateDebrisRemoval()
{
    var calculatedRemoval = Total * DebrisRemovalPct;
    return calculatedRemoval < DebrisRemovalMinimum ? DebrisRemovalMinimum : calculatedRemoval;
}

📋 Component Valuation Fields

The ComponentValuation class contains:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Name	String	Component name	Yes	Descriptive name of component	"Roof Structure"
Type	String	Component type	Yes	Type of component	"Structural"
SubType	String	Component sub-type	Yes	Sub-type of component	"Roof"
ApportionmentPct	Decimal	Cost allocation	Yes	Percentage of asset cost	0.15 (15%)
ConsumptionScore	Integer	Condition score	Yes	Condition rating (1-10)	7
ScoreChangedDate	DateTime	Score update	No	When condition score was last updated	"2023-09-15"
Gross	Decimal	Replacement cost	Yes	Gross replacement cost	75000.00
LongLifePct	Decimal	Long-life portion	Yes	Percentage of long-life portion	0.70 (70%)
ShortLifePct	Decimal (Derived)	Short-life portion	Yes	Percentage of short-life portion	0.30 (30%)
ValuationProfile	String	Valuation profile	Yes	Profile for valuation calculations	"Standard Building"
ULShort	Decimal	Short-life span	Yes	Useful life of short-life portion (years)	15
ULLong	Decimal	Long-life span	Yes	Useful life of long-life portion (years)	40
RULShort	Decimal	Short remaining life	Yes	Remaining useful life of short portion	9
RULLong	Decimal	Long remaining life	Yes	Remaining useful life of long portion	28
RSPPctShort	Decimal	Short RSP percentage	Yes	Remaining service potential (short)	0.60 (60%)
RSPPctLong	Decimal	Long RSP percentage	Yes	Remaining service potential (long)	0.70 (70%)
DepreciationPolicy	String	Depreciation method	Yes	Method of depreciation	"Straight Line"
ObsolescenceProfile	String	Obsolescence pattern	No	Pattern of obsolescence	"None"

Business Logic

Component valuation calculates depreciation based on condition:

// Simplified logic
public decimal CalculateRSPPct(int consumptionScore, string profile)
{
    // Get profile mapping from valuation profile service
    return _valuationProfileService.GetRSPPercentage(profile, consumptionScore);
}

public decimal CalculateCurrentValue()
{
    return CalculateCurrentValueLong() + CalculateCurrentValueShort();
}

public decimal CalculateCurrentValueLong()
{
    return GrossLong * RSPPctLong;
}

public decimal CalculateCurrentValueShort()
{
    return GrossShort * RSPPctShort;
}

📋 Replacement Cost Fields

The AssetReplacementCost class contains:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Name	String	Item name	Yes	Description of replacement item	"Main Structure"
AreaType	String	Area type	No	Type of area measurement	"GFA"
Length	Decimal	Length	No	Length measurement	25.0
Width	Decimal	Width	No	Width measurement	15.0
Area	Decimal	Area	No	Area measurement	375.0
Quantity	Decimal	Quantity	Yes	Quantity of items	1.0
TotalDimension	Decimal	Total dimension	Yes	Total dimension for costing	375.0
SpecifiedRate	Decimal	Rate specified	No	Client-specified rate	2000.00
LocalityFactorPct	Decimal	Locality adjustment	No	Adjustment for location	0.10 (10%)
AdoptedRate	Decimal	Rate used	Yes	Final rate adopted	2200.00
IndexationPct	Decimal	Current indexation	No	Current period indexation	0.03 (3%)
AccumulatedIndexPct	Decimal	Total indexation	No	Accumulated indexation	0.07 (7%)
Gross	Decimal	Total cost	Yes	Total replacement cost	882750.00

📋 Valuation Profile Fields

The ValuationProfile class contains:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Name	String	Profile name	Yes	Name of valuation profile	"Standard Building"
Description	String	Profile description	No	Description of profile usage	"For standard building components"
ValuationProfileScores	Collection	Condition mappings	Yes	Maps condition scores to RSP/RUL	Collection of ValuationProfileScore

Valuation Profile Score Fields

Field Name	Data Type	Business Purpose	Required	Description	Example Value
ConsumptionScoreStart	Integer	Score range start	Yes	Starting condition score	6
ConsumptionScoreEnd	Integer	Score range end	Yes	Ending condition score	7
RSPPctStart	Decimal	RSP range start	Yes	Starting RSP percentage	0.60 (60%)
RSPPctEnd	Decimal	RSP range end	Yes	Ending RSP percentage	0.70 (70%)
RULPctStart	Decimal	RUL range start	Yes	Starting RUL percentage	0.55 (55%)
RULPctEnd	Decimal	RUL range end	Yes	Ending RUL percentage	0.65 (65%)

📋 Valuation Class Fields

The ValuationClass class contains financial reporting classification fields:

Field Name	Data Type	Business Purpose	Required	Description	Example Value
Name	String	Class name	Yes	Name of valuation class	"Property, Plant & Equipment"
Technique	String	Valuation technique	Yes	Technique used	"Cost Approach"
Level	Integer	FV hierarchy level	Yes	Fair value hierarchy level	3
Description	String	Class description	No	Description of valuation class	"Assets valued using cost approach"

📋 Integrated Business Logic Chains

Condition Score to Fair Value

The system uses a chain of mappings to convert condition scores to fair value:

1. Condition Score Assignment: Inspector assigns condition score (1-10)
2. Profile Mapping: Score mapped to RSP percentage via ValuationProfile
3. Remaining Service Potential: RSP calculated as a percentage
4. Current Value Calculation: RSP applied to Gross to determine Current Value
5. Depreciation Calculation: (1-RSP) of Gross equals Accumulated Depreciation

Depreciation Expense Calculation

Annual depreciation expense is calculated based on pattern and useful life:

1. Useful Life Determination: From component assumptions
2. Pattern Selection: Straight line, diminishing value, etc.
3. Expense Calculation: For straight line: Gross / UL
4. Remaining Life Calculation: Based on RUL percentage or explicit assignment

📋 Business Value and Impact

Financial Reporting Impact

Valuation fields directly impact:

• Asset carrying values in financial statements
• Depreciation expense in income statements
• Fair value measurement disclosures
• Movements reconciliation reporting

Asset Management Impact

Valuation data supports:

• Asset renewal planning
• Remaining useful life estimation
• Maintenance timing and budgeting
• Strategic replacement decisions

Risk Management

Valuation fields contribute to:

• Insurance coverage adequacy
• Replacement cost accuracy
• Disaster recovery planning
• Financial risk assessment

📋 Version Considerations

Version 2 vs. Version 3 Differences

• Version 3 adds more comprehensive condition score history
• Version 3 enhances valuation profile flexibility
• Version 3 improves calculation performance
• Version 3 adds more detailed validation for valuation fields

📋 Related Documentation

• Asset Data Dictionary
• Valuation Process Workflow
• Field Data Collection Workflow
• Reporting Process Workflow