In February 2015, EAC was awarded a Machinery and Equipment contract for an Italian restaurant located in New York City. The service provided was a review/valuation of certain leases, furniture, fixtures and the equipment of the restaurant. The purpose of the valuation was to estimate the Fair Value of the subject assets in order to provide a basis for an allocation of the purchase price for financial reporting purposes in conformance with FASB Accounting Standards Codification Topic 805. The appraisal was conducted and all reports were prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP).
‣ Industry: Restaurant
‣ Standard of Value: Fair Value