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资产评估方法
发布时间: 2025-01-22 15:10:16 作者: 采编人员

资产评估方法是对资产价值进行评定估算的技术手段,常用的资产评估方法主要有市场法、收益法和成本法,每种方法都有其特点、适用范围和局限性:

  1. 市场法
    • 定义及原理:市场法是指利用市场上同样或类似资产的近期交易价格,经过直接比较或类比分析以估算资产价值的各种评估技术方法的总称。其原理基于替代原则,即相似资产应具有相似价格。
    • 操作步骤:首先,选择与被评估资产相似的可比参照物,要求参照物与被评估资产在用途、性能、市场环境等方面具有可比性;其次,对可比参照物的交易情况、交易时间、区域因素和个别因素等进行修正,以消除差异对价格的影响;最后,通过对多个可比参照物修正后的价格进行分析,确定被评估资产的价值。
    • 适用范围:适用于市场活跃、有大量可比交易案例的资产,如房地产、通用设备等。
    • 优点:评估结果直观,容易被理解和接受;充分考虑了市场因素,评估值更能反映市场现实价格。
    • 缺点:需要有活跃的市场和丰富的可比数据,若市场交易不活跃或可比案例较少,难以应用;对参照物的选择和修正要求较高,主观性较强。
  2. 收益法
    • 定义及原理:收益法是通过预测被评估资产的未来预期收益并折算成现值,借以确定被评估资产价值的一种资产评估方法。其原理是资产的价值取决于其未来能带来的收益。
    • 操作步骤:首先,预测被评估资产的未来收益,包括收益的金额、期限和增长趋势等;其次,确定合适的折现率,折现率是将未来收益折现为现值的比率,反映了投资的风险和回报率;最后,将未来收益按照折现率折现到评估基准日,计算出资产的现值。
    • 适用范围:适用于有持续收益或可预期收益的资产,如企业整体资产、无形资产、租赁性资产等。
    • 优点:考虑了资产的未来收益和货币时间价值,能真实反映资产的内在价值;对于具有稳定收益的资产,评估结果较为准确。
    • 缺点:未来收益的预测难度较大,受宏观经济、市场环境等多种因素影响,主观性较强;折现率的确定需要专业判断,且对评估结果影响较大。
  3. 成本法
    • 定义及原理:成本法是指首先估测被评估资产的重置成本,然后估测被评估资产业已存在的各种贬值因素,并将其从重置成本中予以扣除而得到被评估资产价值的各种评估方法的总称。其原理是资产的价值取决于购建资产所耗费的成本。
    • 操作步骤:首先,确定被评估资产的重置成本,重置成本是指在现行市场条件下,重新购建与被评估资产相同或相似的资产所需要的成本;其次,估算资产的实体性贬值、功能性贬值和经济性贬值,实体性贬值是由于资产使用和自然损耗导致的价值减损,功能性贬值是由于技术进步等原因导致资产功能相对落后造成的价值损失,经济性贬值是由于外部经济环境变化等因素导致资产价值降低;最后,用重置成本减去各种贬值,得到资产的评估值。
    • 适用范围:适用于新开发建设的资产、缺乏市场交易案例的资产、专用资产等,如新建的建筑物、特殊用途的机器设备等。
    • 优点:评估过程相对直观,数据较容易获取;对于一些资产,如建筑物,成本法能够较为准确地反映其价值。
    • 缺点:不考虑资产的未来收益和市场需求,可能低估资产的价值;对于技术含量高、更新换代快的资产,成本法难以反映其真实价值。

在实际评估中,通常会根据评估目的、评估对象的特点、可获取的数据等因素,选择一种或多种资产评估方法进行综合评估,以提高评估结果的准确性和可靠性。
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