The Appraisal Foundation’s new Working Group on Best Practices for Financial Reporting Purposes is now seeking volunteers to join its latest work group on contributory assets and calculating economic rents. “Our goal is to put together a document that will provide guidance for implementation of some of these best practices,” says Jay Fishman, ASA (Financial Research Associates), who is currently chairing the Foundation’s Best Practices steering committee.

“Time will be of the essence in the Working Group’s accomplishment of its tasks,” according to the on-line description of its assignment, which will attempt to answer several key questions, including:

1. What is the interplay if any, between contributory asset charges and depreciation or amortization tax shields? Is there a different interplay for tangible vs. intangible assets, respectively?
2. Should EBIT or EBITDA be taxed in a multi-period excess earnings analysis?
3. Should the owner of an asset also deserve a return on the value of the tax shield?

To join the esteemed group of experts on this project, click here. But hurry: The deadline for applications is December 4, 2006.