DVC - asset?

[DsnyGeek]

We are in the process of refinancing our home and were wondering if DVC could be listed as an asset. We have 200 points at the Wilderness Lodge.

Thanks for any and all responses!

 

[chris1gill]

It's definitely an asset, as it is a real estate interest... the value of the asset would be debateable from a banks standpoint however....

 

[InstImpres]

If you do a search, there was a lenghty thing on this about 4-6 weeks ago. You can get several opinions on why and why not

 

[ClarabelleCow]

I'm not an accountant, but if its paid in full, then yes delcare it as an asset based on probably the current resale rate of $71.00 per point. But if you owe on it, I wouldn't even mention it. Because I would think it then becomes a liability, unless you owe a lot less than what you could sell it for. Again, I'm not an accountant, but I do have to provide P/L's and income statements to our bank each year for our business and personal, so I'm not really sure what my accountant does after I fill out the forms, but that's what I would do.

 

[DsnyGeek]

It is paid in full. That is why we were even considering it an asset.

Thanks for everyone's input. Once again, you have all been very helpful!

 

[dbkelly]

I am an accountant and it is an asset! It appears the valuation is for personal reasons and you do not have to follow GAAP (Generally Accepted Accounting Principles), therefore you could use the current market value as the value.

D. B. Kelly

 

[bcvillastwo]

As an accountant and an auditor I think the previous response is correct.