Could anyone explain this sentence?

Associate
Joined
9 Aug 2020
Posts
482
In easier terms :) relation to a property included in a divorce.

"We note that the accountant’s valuation of the business does not refer to the actual property as a capital asset; is this included in the accounts?"

Thanks
 
Capodecina
Soldato
Joined
1 Aug 2005
Posts
18,932
Location
Flatland
I think the substitution of the word "include" for "refer to" would help.

Capital asset - a piece of property used for/by the business.
 
Permabanned
Joined
9 Aug 2009
Posts
12,236
Location
UK
I think it's saying the property doesn't belong to the business - so presumably the property belongs to the married couple so would be resolved in one of the usual ways such as selling and splitting 50/50 or one buying out the other or the woman taking all the man's stuff coz childcare.
 
Soldato
Joined
24 Nov 2006
Posts
4,713
Reads to me like the business hasn't included their property as a capital asset and it hasn't been accounted for in the accounts.
 
Top Bottom