Fair market value valuation rules establish prescribed asset and liability methods to compute accreted income on cessation. The draft rule prescribes that aggregate fair market value equals the FMV of all balance-sheet assets on the specified date reduced by tax paid (net of refunds) and non-asset items; asset-specific valuation methods are set out: quoted securities by average market price, unquoted equity by a specified book-value based formula adjusted by paid-up capital, non-equity securities by market valuation report, immovable property by the higher of registered valuer's open-market value or stamp duty value, business undertakings at net assets, and other assets by registered valuer report; total liabilities are book values excluding corpus, reserves, contingent liabilities and specified provisions.