No, I'm saying you're dead wrong to call it an "asset valuation"
Accounting statements don't value assets. They show historical costs that vary depending on the accounting method used. Uusually when an asset is purchase the cost of that asset is put on the books (not the "value" -- it's always the COST)
In rare cases such as this when a transaction happens between two companies majority owned/controlled by the same person, then the original cost of the asset goes on the books rather than the acquired cost. It was originally treated at the acquisition cost which is normally correct in 99.99999% of accounting transactions involving the acquisition of assets.
The allegation of fraud or "missing $500,000" is hilarous though. I'm done trying to catch everybody up on how cost accounting works. I suggest you call Withum or take a basic accounting course at your local community college if you're still confused.
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