Maximizing the needs of management
Enterprise value evaluation is extremely important in enterprise management decision-making, which can help management authorities effectively improve business decision-making. The goal of enterprise financial management is to maximize the enterprise value. Whether each business decision of an enterprise is feasible depends on whether this decision is conducive to increasing the enterprise value.
Value assessment can be used for investment analysis, strategic analysis and value-based management; It can help managers to better understand the strengths and weaknesses of the company.
At present, the accounting information in China is distorted and the quality of accounting information is not high, which substantially 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 its book value. Through the accounting of book value, enterprises often can't confirm the value of intangible assets, which is their own precious wealth 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 management's evaluation of the enterprises they serve, 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 due to 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 the evaluation of enterprise value, enterprise financial managers can understand the true value of enterprises, make scientific investment and financing decisions, continuously improve enterprise value and increase owners' wealth.
the need of enterprise merger and acquisition
In the process of enterprise merger and acquisition, investors are not satisfied with knowing the value of the target enterprise at a certain point in time from the perspective of replacement cost, but rather want to know the value of the target enterprise from the perspective of the existing business ability of the enterprise or the comparison of similar markets, which requires the appraiser to further provide information about the equity value, and even ask the appraiser to analyze the additional value that can be 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, it is often the case that enterprises are transferred and merged as a whole, such as enterprise merger, purchase, sale, reorganization and joint venture, joint venture and cooperative operation, guarantee, etc., all of which involve the evaluation of the overall value of enterprises. In this case, it is necessary to evaluate the value of the whole enterprise in order to determine the price of joint venture or resale. However, the value or purchase price of an enterprise is by no means simply the algebraic sum of the asset value and debt after a fair evaluation of each item. Because people buy, sell or merge an enterprise in order to gain 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 obtain profits by using its own assets. Therefore, the enterprise value evaluation is not the evaluation of all assets of the enterprise, but a holistic and dynamic value evaluation of the enterprise asset complex. Enterprise assets refer to the evaluation of the value of an asset or several assets of an enterprise, which is a partial and static evaluation.
Quantifying the enterprise value, clearing the family assets and dynamic management
It is very important for every company manager to know the specific value of his company and know the ins and outs of calculating the value. Under the planned economy system, enterprises generally care about the management of tangible assets, and often ignore intangible assets. Under the market economy system, intangible assets have been paid more and more attention, and are increasingly regarded as important wealth of enterprises. In foreign countries, the value of intangible assets of some high-tech industries is much higher than that of tangible assets, and the value of intangible assets of high-tech industries in China is also considerable. Entrepreneurs who want to know their family background clearly in order to strengthen management need to make a fair evaluation of the enterprise value through evaluation agencies.
the board of directors and the shareholders' meeting need to know the effect of production and operation activities
The goal of the company's financial management is to maximize the company's value. Whether the company's various business decisions are feasible depends on whether this decision is conducive to increasing the company's value.
It is one-sided for the management to measure the operating results of the company only by the financial statements at the present stage. Correctly implementing value maximization management by means of value evaluation is an important means to promote the sustainable development of Chinese enterprises.
Enterprise value evaluation is an important prerequisite for investment decision
The position of an enterprise as an investment subject in the market economy has been clearly defined, but to ensure the rationality of investment behavior, it is necessary to have a correct evaluation of the current value of enterprise assets. With the development of China's market economy, it is very common to form an optimized portfolio of tangible assets and intangible assets such as patented technology, proprietary technology and trademark rights in various economic activities of enterprises. Joint ventures and partners must quantify these intangible assets in their decision-making, and the intangible assets will be evaluated objectively and fairly by the evaluation institution. The evaluation result is not only an important basis for investors to negotiate with the investee, but also an objective standard for the investee to determine the value of its intangible capital.
expanding the means to improve the influence of enterprises and show their development strength
With the increasing attention of enterprises, the publicity of brand-name trademarks has become an important way for enterprises to go international. Enterprises have a large number of intangible assets, which have created excess profits for enterprises beyond the ordinary means of production and production conditions, but their value reflected in the books is negligible. Therefore, enterprise value evaluation and publicity are important means to strengthen corporate image and show development strength.
increasing enterprise cohesion
enterprise value should not only convey the healthy state and development trend of the enterprise to people outside the company, but more importantly, convey enterprise information to employees at all levels in the company, and cultivate employees' loyalty to the enterprise, so as to achieve the purpose of rallying people's hearts.
Classic case of asset appraisal
More than 2 products of Taishan Group were selected for the Beijing Olympic Games
It became the largest supplier in Olympic history
Leling News. Taishan Sports Industry Group, which just won two "China famous brands", officially signed a contract with BOCOG, and will provide more than 2 sports products in six categories, including gymnastics, judo, taekwondo, wrestling, boxing and track and field, for the 28 Olympic Games.
Taishan Sports Industry Group was originally a family workshop that produced gymnastics mats. "It is technological innovation that has made Taishan Group what it is today." Chairman Bian Zhiliang said. With the help of Leling Municipal Party Committee and Municipal Government, they have continuously intensified their scientific and technological innovation. They have successively cooperated with Shandong University and East China University of Science and Technology to build two national R&D centers, and successfully developed the national leading nano-material artificial straw and more than 3 new sports equipment. Among them, the "Taishan" artificial lawn has become the only recommended product of China Football Association, and the "Taishan" martial arts venue has been designated as the only competition venue by the Wushu Management Center of the State Sports General Administration. It has passed ISO91 international quality system certification, ISO141 international environmental management system certification and ISO18 international occupational health and safety certification, and more than 2 kinds of special equipment have passed the certification of the International Sports Federation, IAAF and FIFA. The products occupy more than 9% of the national competitive sports equipment market share and are exported to more than 16 countries and regions such as the United States, Russia, Iran and the European Union. In 24, the gymnastics equipment produced in cooperation with JF Company of the Netherlands was successfully applied to the Athens Olympic Games. He has won many awards such as "China Well-known Trademark", "National Inspection-free Product" and three "China Famous Brands", and participated in the drafting of national sports equipment industry standards as the main drafter.
The former small workshop has now grown into a large modern private enterprise with an annual output value of more than 2 billion yuan, profits and taxes of more than 4 million yuan, and foreign exchange earned by export of more than 3 million US dollars. Its "Taishan" brand has been appraised by Beijing North Asia Assets Appraisal Co., Ltd., an authoritative national appraisal agency, with a value as high as 11.8 billion yuan. Liu Peng, director of the State Sports General Administration and chairman of the Chinese Olympic Committee, said: "This is the only one in China and the only one in Asia."
the trademark value of Zhejiang luomeng group is 2.6 billion yuan
-a loan of 78 million yuan was successfully pledged with trademark rights
luomeng group, located in jiangkou town, Fenghua, Ningbo, Zhejiang province, was founded in 1984. it is a national, regional, cross-industry and modern famous large-scale clothing enterprise group approved by the state administration for industry and commerce, and its annual sales volume ranks first in the country. The comprehensive market share of suits in China ranks second. In 22, the sales volume was 1.5 billion yuan, exceeding the profit and tax by 1 million yuan to 2 million yuan. The Group is also the largest export enterprise of suits in China, and has exported more than 5 million sets (pieces) of suits, ranking first in China. The group now has fixed assets of 1 billion yuan, 98% of the world-class high-tech clothing production equipment, and more than 1, high-quality employees. The company has passed the ISO92 international quality system certification and the ISO141 international environmental management system certification. Romon is now a registered trademark of more than 2 countries, including the United States, French, Italian, Russian and Japanese. It is a well-known trademark in China, a famous brand in China and a famous brand in Zhejiang.
in September p>27, it was appraised by Beijing Beifang Yashi Assets Appraisal Co., Ltd., an authoritative national appraisal agency. Its trademark value was as high as 2.6 billion yuan, and it successfully mortgaged 78 million yuan in China Agricultural Bank, creating the largest mortgage loan for intangible assets in China.