Asset appraisal entity refers to the person undertaking the asset appraisal business, specifically including practitioners of asset appraisal and appraisal agencies composed of appraisers. The following is the asset appraisal business classification I compiled, I hope it will be helpful to everyone.

(1) General appraisal business

General appraisal business is the business in which we evaluate, estimate and issue appraisal reports for clear appraisal objects. This type of business is mainly for the purpose of providing reference value for the pricing of assets and equity in transactions. Its completion is marked by the issuance of an asset appraisal report. The scope includes individual physical objects for the purpose of providing value reference or performing an authentication function in the case of changes in property rights. Asset valuation, various intangible asset valuations and enterprise value valuations, etc.; also includes the valuation of individual assets or combined assets under various disposal methods of property rights, such as leasing, contracting, bankruptcy, liquidation, auction, transfer of use rights, etc.; also includes direct verification Compensation for purposes, determination of losses, assessment of the value of the property involved, and other types of assessments. The base date of valuation business is generally the current or recent period, and its tense is the current tense.

(2) Evaluation consulting business

Evaluation consulting business provides consulting services through evaluation methods, which includes providing investment project evaluation and enterprise restructuring for governments, enterprises, financial institutions, and venture investors. , corporate development strategies, business plans, due diligence investigations for mergers and acquisitions and other consulting services, as well as research and seminars on industry policies and regulations, technical standards, financial consulting, consulting-related professional training, etc. For example, the purpose of valuation itself is clearly valuation consultation or value analysis, such as the assessment of financial non-performing assets; when other measurement methods cannot achieve the purpose, valuation measurement methods may be used; some of the techniques and methods of evaluation may be applied to corporate management, Enterprise surveys, various data-based decision-making management, etc. The external forms of its evaluation report include consulting reports, evaluation consulting reports, value analysis reports, due diligence reports, project proposals, feasibility study reports, etc. The tense of the base date can be the present, but more often it is the future. .

(3) Appraisal review business

The appraisal review business is mainly to meet the needs of corporate acquisitions, asset transactions and asset value adjustments. It includes both industry regulatory inspections and consulting elements. , the former serves the needs of industry management and aims to purify the appraisal environment and improve the professional level of appraisers; the latter is the appraisal business conducted by the client before making acquisitions, mergers and other investment and financing decisions, and its intention is to evaluate the appraisal object ( Re-examination and verification of assessed matters or results (including proposed acquisitions or own conditions), or re-estimation of the impact of asset conditions or other special events within the validity period of the assessment. The external form of its report is the issuance of a valuation consulting report, a supplementary valuation report or a value analysis report. Essentially, the appraisal review business plays a consulting role. The tense of the base date is generally the past tense, and the tense of the supplementary appraisal report is the current tense. We believe that assessment for the purpose of financial reporting should be classified as assessment review business, because the recognition of asset values ??in financial reports is an accounting act, and its continuous records reflect the results of accounting recognition. Whether the assessed value can be directly entered into the accounting system is still an issue that needs to be treated with caution. The appraisal community only uses the value discovery technology of appraisal to conduct necessary reviews and adjustments on the accounting measurement results.

Overview of the Asset Appraisal Major

1. Training Objectives of the Asset Appraisal Major

This major cultivates solid theoretical knowledge of economics and management and masters modern asset appraisal. Theories and methods, possess the knowledge and ability to engage in asset appraisal-related work, and be able to engage in asset appraisal business and management work in asset appraisal companies, accounting firms, state-owned assets supervision and administration agencies, judicial agencies, industrial and commercial enterprises, financial and insurance industries, etc. Specialized talents.

2. Main disciplines of asset evaluation:

Management, microeconomics, macroeconomics, economic law, tax law, marketing, finance, statistics, management information system , Asset Valuation, Junior Accounting, Financial Management, Financial Accounting, Cost Management Accounting, Auditing, Mechanical and Electrical Equipment Valuation, Enterprise Value Valuation, Intangible Asset Valuation, Econometrics, etc.

3. Asset evaluation professional direction:

The asset evaluation professional direction is mainly divided into the following categories, namely enterprise value evaluation, intangible assets evaluation, mining rights evaluation, real estate evaluation and jewelry Jewelry Appraisal.

It should be pointed out that in recent years, with the proposal of the carbon neutrality goal and the innovation of global ecological concepts, asset assessment of natural resources and their protection has also received more and more attention.

The role of asset evaluation

1. The consulting role

In a sense, asset evaluation is a professional and technical consulting activity and has a consulting role. The role of consultation is to provide professional valuation opinions for asset business based on asset appraisal conclusions. Although the opinions themselves are not enforceable, they can be used as a reference for the parties' asking and bidding prices.

2. The role of authentication

Authentication consists of two parts: identification and evidence. Identification is an independent judgment made by an expert on the current price of asset transactions based on professional principles, and evidence provides theoretical and factual support for the judgment to make it reasonable and well-founded.

3. Promotional role

The promotional role of asset evaluation is mainly reflected in three aspects: first, it can promote the optimal allocation of resources; second, it can promote property rights subjects to safeguard their legitimate rights and interests. Third, it can promote the internationalization and further opening up of asset evaluation work.

Asset Valuation Rules

1. Asset evaluation work must be performed by specialized agencies and personnel with professional knowledge;

2. Asset evaluation must have a legal basis and be conducted in accordance with relevant regulations and policies;

3. Asset valuation must follow applicable principles;

4. Asset valuation must comply with prescribed valuation procedures and standards;

5. Asset valuation must use scientific valuation methods and unified monetary unit valuation.

Elements of asset evaluation

1. The subject of asset evaluation, that is, the professionals who conduct asset evaluation;

2. The object of asset evaluation is the object being evaluated;

3. The purpose of asset evaluation, that is, the reason why asset evaluation is needed;

4. The standards for asset evaluation, that is, the price, technology and other standards on which asset evaluation is based;

5. The procedure of asset evaluation, that is, the specific links and steps of asset evaluation;

6. Asset evaluation methods, that is, various specialized methods used in evaluation that comply with national regulations;

7. The base date of assessment is the time point on which the assessment is based;

8. The type of value assessed is the value attribute of the asset identified during the assessment.

Asset appraisal business classification

1. The purpose of asset evaluation for contracting and leasing operations is to evaluate the operating performance of enterprises or operators;

2. The purpose of asset evaluation of joint operations, joint-stock operations, and Sino-foreign joint ventures is to determine the reasonable rights and interests of all parties involved in the investment based on the current value of the assets;

3. Asset evaluation for asset auctions, transfers, and bankruptcy liquidations, with the purpose of determining the reserve price for asset auctions;

4. The purpose of asset evaluation of mortgage loans and economic guarantees is to determine the current value of the company's assets and obtain credit;

5. A taxable asset assessment is conducted for the purpose of determining the amount of tax payable.

Asset valuation criteria

According to my country’s asset valuation management requirements and international asset valuation practices, the asset valuation criteria in asset valuation include replacement cost, current market price, present value of income and liquidation price. Four more.

1． Replacement cost

Replacement cost is also called current cost or replacement value. It refers to the cost of replacing an asset according to its function under current conditions and keeping the asset in a state of use. The replacement cost is the same as the historical cost. It also reflects the price of all costs in the construction process of the asset, such as acquisition, transportation, installation, and commissioning. The difference is that the replacement cost is based on the original design plan of the asset and applies the current cost standards and The purchase and construction price determined by quota calculation. When an asset is in a brand new state, its replacement cost is consistent with its historical cost if the price remains unchanged. However, since assets exist in an enterprise for a long or short period, changes in price, loss, technology, etc. during this period will cause the asset's replacement cost to differ from its historical cost.

Using replacement cost as the price standard for assets overcomes the situation where historical cost standards ignore value distortion caused by technological progress and inflation, and can reflect the true price of assets more objectively and fairly. However, the replacement cost standard is not perfect. It ignores the profitability of assets, is highly subjective, and is not suitable for the evaluation of the overall assets of most companies.

The replacement cost standard can only be used if the asset continues to be used. If the asset changes its use, or is unable to operate and is interrupted, other price standards should be used in the evaluation. The renewal forms of assets include in-use renewal, transferred use and transferred use. Different renewal forms will affect the specific factors considered in the valuation of replacement cost.

2. Current market price

The current market price refers to the estimated sales price of intangible assets on the open market. This kind of sales can be actual sales or simulated sales. The current market price should be determined under the conditions of sufficient market competition, no monopoly or coercion by both parties to the transaction, and both parties have sufficient time and ability to understand the actual situation, and have independent judgment and rational choices. The basic factors that determine the current market price of an asset are: the reproduction cost price of the asset itself. Generally speaking, the price of an asset depends on the level of its production cost; the current functional status, quality factors, technical parameters and wear and tear of the asset, under normal circumstances, high quality will result in a better price; market supply and demand conditions, generally the supply of an asset exceeds If demand exceeds supply, the price will fall; if demand exceeds supply, the price will rise.

Under the current circumstances in our country, the asset valuation standards have not yet been fully formed, the market information channels are not smooth enough, and the practical experience of the appraisers needs to be further improved. Therefore, in addition to land and house evaluation, it is difficult to evaluate certain assets using the current market price as the price standard.

3． The present value of income

The present value of income refers to the sum of the discounted present values ??of future net cash flows generated by asset valuation. The essence of the present value of income is the market price of principal, which is the principalization of residual value. Under market economy conditions, the direct purpose of investors' investment is to obtain expected returns. Under normal operating conditions, if investors want to obtain more income, they must increase investment in assets or increase the rate of return. The more you invest, the greater the asset value, and vice versa. From the perspective of the purpose of principal movement, principal and income can be converted into each other. When a certain amount of principal is invested, a certain amount of income can be obtained. On the contrary, a certain amount of income can also be traced back to a certain amount of corresponding principal. . This forms two concepts: one is the principal rate of return, which is the ratio of the principal invested to the expected return; the other is the return to principal rate, which is the ratio of the expected return to the principal. The present value of earnings is the annual expected earnings divided by the applicable principal yield.

Using the present value of income as the price standard for assets means that asset owners are not buying and selling ordinary commodities, but buying and selling assets as earning power. Intangible assets are evaluated when the expected income is relatively stable. Below:

Present value of assets = present value of income = expected income/applicable asset rate of return

There are two shortcomings in the application of the present value of income standard. One is the determination of the present value of income. Expected earnings and return on assets are difficult to predict. Second, using expected income as the basis for the value of the assets being evaluated seems to have nothing to do with the asset entity itself, so it is difficult to use. But despite this, the present value of income still has its irreplaceable superiority.

The present value standard of income is based on the premise that the enterprise continues to operate. The asset valuation standard can only be the overall assets or assets with independent profitability, and it is more scientific to apply under the conditions of relatively stable expected income. .

4. Liquidation price

Liquidation price refers to the asset value adopted after the enterprise’s intangible assets are evaluated and ceased operations or go bankrupt. The assets are required to be disposed of in the form of cash within a certain period of time to pay off debts and distribute remaining equity. , that is, the price of asset auctions under abnormal market conditions. There are various reasons for a company to cease operations, including bankruptcy or closure, or expiration of the cooperation period. But whatever the reason for the closure, the core issue is paying off the debt, often in cash. This determines that the basic characteristic of the liquidation price is rapid realization. Due to term restrictions and buyer restrictions, its price is generally much lower than the current market price. The clearing prices include mandatory clearing price, orderly clearing price and renewal clearing price. Taking the liquidation price as the valuation standard for assets is called the liquidation price standard.

The price standard for asset appraisal business should be selected based on the nature of the asset business, the purpose of appraisal and the prerequisites. In principle, asset appraisal business and price types should be strictly matched, and there should be no mutual substitution of asset appraisal standards. However, in practice, due to various reasons and the needs of evaluation conditions, it may be necessary to substitute price types during specific operations. In some cases, this substitution may also improve the quality of assessments and asset operations, as well as facilitate practical operations.