Catalogue of data collection for enterprise value evaluation
1. Business license and tax registration certificate of enterprise legal person, organization code certificate, business license, property right registration certificate of state-owned enterprise, etc.
2. Brief introduction of the enterprise, establishment background, legal representative and main members of the management team, organization chart and equity structure chart;
3. Articles of association and legal documents related to enterprise property rights;
4. Legal documents that may involve the change of enterprise property rights (equity), such as enterprise asset reorganization plan, enterprise merger, joint venture and cooperation agreement (letter of intent);
5. Legal documents related to major creditor's rights and debts such as economic guarantee and debt mortgage provided by enterprises;
6 annual and semi-annual work summary of the enterprise;
7 government documents related to the production and operation of enterprises;
8. The annual financial statements and annual financial analysis reports of the enterprise in the last five years (including the evaluation benchmark date), and the statistical data of the products produced and operated;
9. Overview of the existing production facilities and supply and marketing network of the enterprise, and brief introduction of the production and operation of each branch;
10. Enterprise product quality standards, trademark certificates, patent certificates and technical achievement appraisal certificates, etc. ;
1 1. Enterprise development plan for the next five years;
12. Enterprise income forecast in the next five years (Table C) and forecast description;
13. Statistics of intangible assets invested by enterprises over the years (including advertising fees, participation fees and other expenses); List of major customers and competitors;
14. Production and operation mode of the enterprise (including operating advantages and main risks);
15. Information materials such as reports and opinions of news media and consumers on product quality and after-sales service;
16. certificate of honor of enterprise and certificate of honor of legal representative;
17. Corporate image publicity, planning and other related materials;
18. Brief introduction of enterprise's existing technology research and development and technology innovation plan;
19 Articles of Association of all long-term investments, business license of the invested enterprise as a legal person, base date and accounting statements of the previous three years;
20. Information that other enterprises think should be provided;
2 1. Enterprise Commitment Letter; .
22, enterprise non-operating assets inventory materials;
The role of enterprises in value evaluation
(A) the needs of enterprise value maximization management
Enterprise value evaluation is extremely important in enterprise management decision-making, which can help management authorities to effectively improve business decisions. The goal of enterprise financial management is to maximize enterprise value. Whether every business decision of an enterprise is feasible depends on whether this decision is conducive to increasing enterprise value.
Value assessment can be used for investment analysis, strategic analysis and value-based management; It can help managers better understand the strengths and weaknesses of the company.
At present, China's accounting information is distorted and the quality of accounting information is not high, which seriously affects the true embodiment of the financial situation and operating results of enterprises. The accounting index system can not effectively measure the ability of enterprises to create value, and the financial performance based on accounting index is not equal to the actual value of the company. The actual value of an enterprise is not equal to the book value. Through the accounting of book value, enterprises often cannot confirm the value of intangible assets, which are valuable wealth that enterprises have only after long-term development and research.
This leads to a key link in the process of MBO implementation-the value evaluation of the target company, that is, the evaluation of the enterprises served by the management, which includes not only the evaluation of the tangible assets of enterprises, but also the evaluation of intangible assets such as technology, management, enterprises and talents. Therefore, enterprise value evaluation helps enterprises to pay attention to and carefully verify these accounting distortion information, fully understand the factors of accounting distortion information, and deal with them correctly, so as to overcome the situation that other assets evaluation results are false because of accounting distortion information. Avoid the alienation of enterprise value and affect the accuracy of enterprise value.
Pay attention to financial management with enterprise value maximization management as the core. Through enterprise value evaluation, enterprise financial managers can understand the true value of enterprises, make scientific investment and financing decisions, continuously improve enterprise value and increase owners' wealth.
(B) the needs of enterprise mergers and acquisitions
In the process of enterprise merger and acquisition, investors are not satisfied with understanding the value of the target enterprise at a certain point in time from the perspective of replacement cost, but want to understand the value of the target enterprise from the perspective of the comparison of the existing operating capacity of the enterprise or similar markets, which requires appraisers to further provide information about the equity value, and even require appraisers to analyze the added value brought by the integration of the target enterprise and the enterprise. At the same time, the capital market needs more enterprise value evaluation represented by evaluating the overall profitability.
In real economic life, there are often cases of overall transfer and merger of enterprises, such as merger, acquisition, sale, reorganization and joint venture, joint venture and cooperative operation, guarantee, etc. , all involve the evaluation of the overall value of the enterprise. In this case, it is necessary to evaluate the value of the whole enterprise to determine the price of joint venture or resale. However, the value or purchase price of an enterprise is by no means the algebraic sum of asset value and debt after a fair evaluation of each item. Because people buy, sell or merge an enterprise in order to make profits by operating the enterprise, there are many factors that determine the price of the enterprise, the most basic of which is the ability of the enterprise to make profits by using its own assets. Therefore, the enterprise value evaluation is not the evaluation of all assets of the enterprise, but the overall and dynamic value evaluation of the enterprise asset complex. Enterprise assets refer to the evaluation of the value of one or several assets of an enterprise, which is a partial and static evaluation.