# Base Value

(redirected from Base Values)

## Base Value

An often arbitrary figure used as the initial value of an index. All future values of the index are comparisons against the base value. For example, suppose an index is formed in 2001 and its base value is 100. If the index is 150 in 2009, it means that its value is 50% higher in 2009 than it was in 2001. It is also called the index number. See also: Base Year.
References in periodicals archive ?
The decrease in base values, announced by HRI during the Punchestown festival, and which kicked in three days ago, applies to Group 1 races on the Flat and Grade 1s over jumps, all the way down to 0-95 handicap hurdles and 0-60 handicaps on the Flat.
Jason Morris, HRI's director of racing, said: "We have reduced prize-money base values for all races from Group 1 level to the low-grade handicaps by roughly five per cent, and the new levels came into effect at Ballinrobe on Monday." It is understood that with many trainers, owners and breeders concerned by prize-money cuts, especially at the bottom of the scale, moves are afoot to try to influence HRI to have the acrossthe-board reductions reviewed..
* The farm accountant assigns base values to replacement animals as they enter the breeding herd or flock.
* When the base values are changed, Gains/Losses Due to Changes in General Base Values of Breeding Livestock reports these changes on the income statement below Net Farm Income from Operations.
* When animals enter the breeding herd and when they move through transfer points, the farm accountant assigns base values appropriate for the age group.
* When base values change, the balance sheet and the income statement are affected.
Calves: 8 x \$400 = \$3,200 Bred Heifers: 1 x \$400 = 400 Cows: 0 x \$200 = 0 Change in value due to age progression: \$3,600 The income statement reports the following: Loss from Sale of Culled Breeding Livestock (1,200) Change in Value Due to Change in Quantity of Raised Breeding Livestock 3,600 Gross Revenue \$ Operating Expenses +/- Accrual Adjustments \$ Interest Expense +/- Accrual Adjustments \$ Net Farm Income from Operations \$ Gain Due to Changes in General Base Values of Breeding Livestock \$ Net Farm Income, Accrual Adjusted \$ The net effect of the loss on the sale of culled animals and the change in value due to age progression (\$3,600 ??1,200) is the same net effect shown on the income statement prepared under the shortcut version (\$1,200 ??1,200).
* The change in value from the previous category is the difference between the per head base value at the beginning of the year and the per head base value of the category that the animals transferred into.
of new Change in Total Category animals Base Value Change Calves 8 \$400 \$3,200 Bred Heifers 1 400 400 Cows 0 200 0 Total \$3,600 "Transferred out" refers to the number that transferred to the next age group.
Calves: Change in Base Value ??Base value of category transferred into - beginning of year base value = \$400 - 0 = \$400
Announcing the prize-money budget and the new base values for 2007, HRI director of racing Jason Morris said: "HRI is committed to offering prize-money which bears the most favourable international comparison.

Site: Follow: Share:
Open / Close