ME201 Introduction to Machinery & Equipment Valuation & Cost Approach To Value

Class Date/Time

Tuesday, January 28- Friday, January 31, 2025
10:00am-6:00pm Eastern US

Class registration will close on Monday, January 27, 2025.

Class Format: VIRTUAL 

Registration Includes 

Virtual Attendees

• Access to virtual zoom sessions will be accessible via education dashboard (login required)
• Electronic student materials

Class Schedule

Times Listed in Pacific Standard US

• Day 1 - Tuesday, January 28, 10:00am - 6:00pm 
• Day 2 - Wednesday, January 29, 10:00am - 6:00pm
• Day 3 - Thursday, January 30, 10:00am - 6:00pm
• Day 4 - Friday, January 31, 10:00am - 2:00pm & Exam 3:00-6:00pm 

*The final exam will be administered and proctored on the last day of class in the afternoon, following the morning session, Friday, January 31, 2025. Exams are no longer provided in a written format and students MUST have a personal laptop or computer device to complete ASA online exams. For any exam questions or technical/logistic concerns, contact education@appraisers.org. Registrants will be provided more detailed information before class concludes.

Please note: Partial credit will not be awarded for this offering. Students must participate in all the live session(s) virtually or in-person to complete the course and receive full credit following successful completion of the final exam. The virtual session(s) will not be recorded and/or made available after class.

Continuing Education (CE) Credit

Class provides 37.2 ASA CE Instructional Hours and 3 Exam Hours.

This is the NEW ME201! 

This recently revised course is four days, followed by the exam at the end of day four. Students have the option to take the proctored exam immediately following the conclusion of class. In the event students cannot complete the exam, an alternative option will be provided via ASA's partner, ProctorU. More information will be provided to attendees. 

Course Description

This course will introduce appraisal terminology and concepts and provide students with a solid foundation for a career in appraisal of machinery and equipment. This course covers MTS Appraisal Process And Theory; Appraisal Terminology And Definitions; Introduction Of The Three Approaches To Value; Ethics, Valuation Standards, And Performing Appraisals; Scope Of Work, Purpose And Use; Levels Of Trade/Standards Of Value; Performing A Field Inspection And Asset Classification; Development Of Useful Life Estimates; Direct Cost Estimating Methods; Depreciation Identification And Methodologies (Physical Depreciation, Functional Obsolescence, Economic Obsolescence; Effective And Weighted Age Calculations; Inutility And Excess Operating Costs.

*Accredited MTS Members who took the ME201-204 courses for accreditation purposes may not retake the courses for reaccreditation/continuing education (CE) credits. Those who have not previously completed these courses must successfully pass the associated exam to receive ASA reaccreditation/CE credit.  No reaccreditation/CE credit will be awarded for the audio version of this course. 

Instructional Methods

Methods include lectures, discussions and individual/ group exercises, homework and assignments.  

Course Audience

Appraisers, accountants, attorneys, auctioneers/liquidators, lenders, engineers, leasing company staff, farm managers, forensic consultants, shop staff, and the appraisal community at large – anybody involved in the valuation of machinery and equipment.

Required Reading

ASA’s Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets 4th Ed is the authoritative textbook on the theory and methodology of appraising machinery, equipment, and technical assets. The 2020 edition includes revised and updated chapters on topics like the sales comparison approach, appraisal report writing, and valuations for financial reporting, completely rewritten chapters on topics like aircraft appraisals, and a new chapter on ad valorem tax appraisals. It also includes updated appendices with appraisal research sources, an enhanced index, and a wholly rewritten and improved glossary. 

In particular, for this course, the following chapters should be read and understood:

• Chapter 1: Introduction
• Chapter 2: Classification and Description of Machinery and Equipment
• Chapter 3: Cost Approach
• Chapter 10: Ethics

Purchase - Valuing Machinery and Equipment, 4th Edition

Learning Level 

Fundamental 

Learning Outcomes

Upon completion of this course, students will be able to: 

• Communicate basic appraisal theory 
• Understand general appraisal terminology and definitions
• Describe the three approaches to value
• Understand basic appraisal theory and process
• Appreciate appraisal specific standards and ethics
• Identify appraisal scope of work, purpose and use 
• Understand the levels of trade and how they apply to the standard of value utilized
• Recognize asset classifications and accounts
• Comprehend direct and indirect cost development methodologies 
• Understand various depreciation methodologies and how they apply
• Communicate the requirements of an appraisal (either as an appraiser or someone needing an appraisal)
• Assess the scope of work and qualifications needed to perform an appraisal assignment

Continuing Education and Contact Hours

37.2 Hours of CE are provided upon completion of the course (including exam hours) due to being 3.5 days. 

Additional Information

ASA-accredited members (AM, ASA, FASA) who would like to attend this class will receive a 50% discount. This discount will be automatically applied at checkout

Prerequisites

Students must complete two assignments prior to the 1st day of class.  Please visit the CLASS CONTENTS tab in order to complete your pre-class assignments.

eMaterials

All course materials included with your registration are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. All downloadable class materials are accessible via your class Handouts tab. Once eMaterials have been posted for download, the class is no longer refundable.

Accessing eMaterials

eMaterials are provided electronically in PDF format and posted to the class within class Handouts tab for all registrants to securely access prior to the start of the class. Attendees should come to class prepared with an electronic or printed copy of all eMaterials to use as a reference. OnDemand course registrants receive access to materials immediately following registration.

PDF course materials are presented in color, are bookmarked, and comment enabled. When opting to print downloaded materials, it is recommended that personal print settings be adjusted to print in black and white (or grayscale) and consider printing double-sided on recycled paper.

Certificate of Completion

Please allow 5-10 business day following successful completion of the course or final exam to receive a formal status notification and access to a certificate of completion. The certificate will be available to view and download/print from within the class Certificate tab.

Financial Assistance

ASA’s Educational Foundation recognizes students who choose to invest their time in appraisal studies by providing assistance to students demonstrating a financial need. Please visit the Educational Foundation's webpage for more information and to download an application.

Review Prior to Joining the Exam Session

Please read the following information in its entirety to ensure a successful exam experience. 

1. ASA requires the use of a PC/Mac/laptop with webcam capabilities in order to take your online exam. Mobile devices are not acceptable.
2. The day of your exam, please login to your online open examination session via the Zoom or GoToMeeting link/details within the Join Session tab above. 
3. Make sure your webcam is on and that you are muted.
4. Your open examination session will be monitored by an online proctor (either an ASA staff member or an instructor). This individual will provide you with their contact information should you need to reach them during the exam.
5. Your exam may be accessed via the class page on your dashboard.
6. PLEASE NOTE – You may not reference any of the course materials or classroom notes, nor may you access any websites or any other resources during the exam.
7. Lastly, ASA has transitioned to online exams to accommodate the continuation of learning. In the unlikely event you run into any technical issues or you are inadvertently kicked out of the exam, we STRONGLY recommend you keep a written record of all your answers on a separate piece of paper as you take the exam. In case there is an unforeseen issue, you will have your answers at the ready to reload into the exam software or to send to ASA via email as backup.

Note:

• Join the open examination session via the Zoom/GoToMeeting link 5 minutes early to ensure enough time for check in.
• Reliable internet service, a webcam and a personal computer/Mac/ laptop are required. Exams may not be taken on a mobile device.
• A secondary device (i.e. phone or tablet) should be available if you need to contact the proctor during them exam.
• You have one (1) hour to complete the USPAP exam and three (3) hours to complete the ASA POV exams (four (4) hours for ME204). When your time is up, your exam will be automatically submitted.

Questions? 

Email education@appraisers.org.

Procedures

*If you cannot attend your exam please see the ProctorU tab on your education dashboard.