Mining machinery tariff
Publish: 2021-05-15 19:32:38
1. The age of Wiener, a mathematical prodigy, is
Norbert Wiener, a famous mathematician in the 20th century, has been gifted in intelligence since childhood. He can read and write at the age of three and graated from University at the age of fourteen. A few years later, he passed his doctoral dissertation defense and became a doctor of science at Harvard University
at the doctoral degree awarding ceremony, the executive chairman was surprised to see Wiener with a childish face, so he asked his age face to face. Wiener is worthy of being a mathematical prodigy. His answer is very ingenious: "the cube of my age this year is a four digit number, and the fourth power of my age is a six digit number. These two numbers just use the ten numbers 0, 1, 2, 3, 4, 5, 6, 7, 8 and 9. They are not repeated. This means that all the figures bow to me, and I wish that I will be able to do some earth shaking work in the field of mathematics in the future. "
as soon as Wiener said this, all four of them were shocked, and everyone was deeply attracted by his wonderful question. The whole meeting was talking about his age.
Norbert Wiener, a famous mathematician in the 20th century, has been gifted in intelligence since childhood. He can read and write at the age of three and graated from University at the age of fourteen. A few years later, he passed his doctoral dissertation defense and became a doctor of science at Harvard University
at the doctoral degree awarding ceremony, the executive chairman was surprised to see Wiener with a childish face, so he asked his age face to face. Wiener is worthy of being a mathematical prodigy. His answer is very ingenious: "the cube of my age this year is a four digit number, and the fourth power of my age is a six digit number. These two numbers just use the ten numbers 0, 1, 2, 3, 4, 5, 6, 7, 8 and 9. They are not repeated. This means that all the figures bow to me, and I wish that I will be able to do some earth shaking work in the field of mathematics in the future. "
as soon as Wiener said this, all four of them were shocked, and everyone was deeply attracted by his wonderful question. The whole meeting was talking about his age.
2. An important secret of Lu Xun's success is to cherish time. Lu Xun was 12 years old when he was studying in a private school in Shaoxing City. His father was seriously ill and his two younger brothers were young. Lu Xun not only often went to pawnshops and drugstores, but also helped his mother with housework; In order not to affect his studies, he must make a precise schele
since then, Lu Xun has been squeezing time almost every day. He said: "time, like the water in the sponge, as long as you squeeze, there will always be." Lu Xun had a wide range of interests in reading and writing. He also had a deep interest in folk art, especially legend and painting; It is because of his wide range of learning, so time for him, it is very important. He was sick all his life, and his working conditions and living environment were not good, but he would not give up until late at night every day
in Lu Xun's eyes, time is like life“ Americans say time is money. But I think: time is life. If you waste other people's time for no reason, it is tantamount to murder for money. " Therefore, Lu Xun hated those people who were "running around all day, sitting around and gossiping". When he was busy with his work, if someone came to chat or chat with him, even if he was a very good friend, he would not hesitate to say to others, "Oh, you're here again, there's nothing else to do?"<
Juying studies
Che Yin was born in the Jin Dynasty. He was originally a son of a rich family, but later his family became poor and destitute. However, he can constantly improve himself in adversity
Che Yin was very sensible and hardworking when he was young. Because he had to help his family ring the day, he wanted to use the long night to read more books and enrich himself; However, his family is poor and he has no spare money to buy oil and light up. What can he do to break through the restrictions of objective conditions? At first, he had to recite books at night, until one summer night, he saw a few fireflies flying, little fireflies flashing in the dark. So he came up with a good way: he caught many fireflies and put them in a small bag sewn with white summer cloth. Because the white summer cloth is very thin and can show the light of fireflies, he hung up the bag and turned it into a "lamp"
Che Yin studied hard and finally became a famous scholar. Later, he became a popular official; At that time, if Che Yin didn't show up for any assembly or celebration, everyone would feel disappointed<
the story of Edison cherishing his time
Edison only went to primary school for three months in his life. His knowledge came from his mother's teaching and self-study. His success should be attributed to his mother's understanding and patient teaching since childhood, which made Edison, who was originally regarded as an incompetent child, become a world-famous "king of invention" when he grew up
Edison was curious about many things since he was a child, and he liked to experiment with them himself until he understood the truth. When he grew up, he devoted himself to research and invention according to his own interests. He set up a laboratory in New Jersey and invented more than 2000 kinds of things in his life, such as electric lamp, telegraph, phonograph, video camera, magnetic separator, crusher and so on. Edison's strong research spirit made him make great contribution to the improvement of human life style
"waste, the biggest waste is to waste time." Edison often said to his assistant“ Life is too short. Think more and do more with less time. "
one day, Edison was working in the laboratory. He handed his assistant an empty glass bulb without a light port and said, "you measure the capacity of the bulb." He bowed his head to work again. After a long time, he asked, "what's the capacity?" He didn't hear the answer. He turned his head and saw his assistant measuring the perimeter and inclination of the bulb with a tape measure. He took the measured number and put it on the table to calculate. He said, "time, time, how do you spend so much time?" Edison came over, picked up the empty light bulb, filled it with water, handed it to his assistant, and said, "pour the water in the measuring glass, and tell me its capacity right away." The assistant read out the number immediately. Edison said, "what an easy way to measure. It's accurate and time-saving. How can you not think of it? Is it not a waste of time? " The assistant blushed< Edison murmured: "life is too short, too short. We should save time and do more things.
Lu Xun fought against the clock.
Lu Xun, formerly known as Zhou Shuren, was an outstanding writer in modern times
an important secret of Lu Xun's success is to cherish time. Lu Xun was 12 years old when he was studying in a private school in Shaoxing City. His father was seriously ill and his two younger brothers were young. Lu Xun not only often went to pawnshops and drugstores, but also helped his mother with housework; In order not to affect his studies, he must make a precise schele
since then, Lu Xun has been squeezing time almost every day. He said: time, like the water in the sponge, as long as you squeeze, there is always. Lu Xun had a wide range of interests in reading and writing. He also had a deep interest in folk art, especially legend and painting; It is because of his wide range of learning, so time for him, it is very important. He was sick all his life, and his working conditions and living environment were not good, but he would not give up until late at night every day
in Lu Xun's eyes, time is like life. Americans say time is money. But I think: time is life. If you waste other people's time for no reason, it is tantamount to murder. Therefore, Lu Xun hated those people who were running around and gossiping all day long. When he was busy with his work, if someone came to chat or chat with him, even if he was a very good friend, he would say to others impolitely: "Oh, you're here again, is there nothing else to do< In his childhood, Wang Yanan was ambitious and fond of reading. When he was in middle school, in order to get more time to study, he sawed one foot of his wooden bed half a foot short to make a three legged bed. Every night, when he was tired, he went to bed and turned over in a daze. The bed tilted towards his short feet. He was awakened and got out of bed immediately to read at night. It's like this every day. It never stops. As a result, he achieved excellent results every year and was praised as one of the three outstanding students in the class. Because he studied hard in his youth, he finally became an outstanding economist in China
to save time is to make a person's limited life more effective, which means to extend his life span
since then, Lu Xun has been squeezing time almost every day. He said: "time, like the water in the sponge, as long as you squeeze, there will always be." Lu Xun had a wide range of interests in reading and writing. He also had a deep interest in folk art, especially legend and painting; It is because of his wide range of learning, so time for him, it is very important. He was sick all his life, and his working conditions and living environment were not good, but he would not give up until late at night every day
in Lu Xun's eyes, time is like life“ Americans say time is money. But I think: time is life. If you waste other people's time for no reason, it is tantamount to murder for money. " Therefore, Lu Xun hated those people who were "running around all day, sitting around and gossiping". When he was busy with his work, if someone came to chat or chat with him, even if he was a very good friend, he would not hesitate to say to others, "Oh, you're here again, there's nothing else to do?"<
Juying studies
Che Yin was born in the Jin Dynasty. He was originally a son of a rich family, but later his family became poor and destitute. However, he can constantly improve himself in adversity
Che Yin was very sensible and hardworking when he was young. Because he had to help his family ring the day, he wanted to use the long night to read more books and enrich himself; However, his family is poor and he has no spare money to buy oil and light up. What can he do to break through the restrictions of objective conditions? At first, he had to recite books at night, until one summer night, he saw a few fireflies flying, little fireflies flashing in the dark. So he came up with a good way: he caught many fireflies and put them in a small bag sewn with white summer cloth. Because the white summer cloth is very thin and can show the light of fireflies, he hung up the bag and turned it into a "lamp"
Che Yin studied hard and finally became a famous scholar. Later, he became a popular official; At that time, if Che Yin didn't show up for any assembly or celebration, everyone would feel disappointed<
the story of Edison cherishing his time
Edison only went to primary school for three months in his life. His knowledge came from his mother's teaching and self-study. His success should be attributed to his mother's understanding and patient teaching since childhood, which made Edison, who was originally regarded as an incompetent child, become a world-famous "king of invention" when he grew up
Edison was curious about many things since he was a child, and he liked to experiment with them himself until he understood the truth. When he grew up, he devoted himself to research and invention according to his own interests. He set up a laboratory in New Jersey and invented more than 2000 kinds of things in his life, such as electric lamp, telegraph, phonograph, video camera, magnetic separator, crusher and so on. Edison's strong research spirit made him make great contribution to the improvement of human life style
"waste, the biggest waste is to waste time." Edison often said to his assistant“ Life is too short. Think more and do more with less time. "
one day, Edison was working in the laboratory. He handed his assistant an empty glass bulb without a light port and said, "you measure the capacity of the bulb." He bowed his head to work again. After a long time, he asked, "what's the capacity?" He didn't hear the answer. He turned his head and saw his assistant measuring the perimeter and inclination of the bulb with a tape measure. He took the measured number and put it on the table to calculate. He said, "time, time, how do you spend so much time?" Edison came over, picked up the empty light bulb, filled it with water, handed it to his assistant, and said, "pour the water in the measuring glass, and tell me its capacity right away." The assistant read out the number immediately. Edison said, "what an easy way to measure. It's accurate and time-saving. How can you not think of it? Is it not a waste of time? " The assistant blushed< Edison murmured: "life is too short, too short. We should save time and do more things.
Lu Xun fought against the clock.
Lu Xun, formerly known as Zhou Shuren, was an outstanding writer in modern times
an important secret of Lu Xun's success is to cherish time. Lu Xun was 12 years old when he was studying in a private school in Shaoxing City. His father was seriously ill and his two younger brothers were young. Lu Xun not only often went to pawnshops and drugstores, but also helped his mother with housework; In order not to affect his studies, he must make a precise schele
since then, Lu Xun has been squeezing time almost every day. He said: time, like the water in the sponge, as long as you squeeze, there is always. Lu Xun had a wide range of interests in reading and writing. He also had a deep interest in folk art, especially legend and painting; It is because of his wide range of learning, so time for him, it is very important. He was sick all his life, and his working conditions and living environment were not good, but he would not give up until late at night every day
in Lu Xun's eyes, time is like life. Americans say time is money. But I think: time is life. If you waste other people's time for no reason, it is tantamount to murder. Therefore, Lu Xun hated those people who were running around and gossiping all day long. When he was busy with his work, if someone came to chat or chat with him, even if he was a very good friend, he would say to others impolitely: "Oh, you're here again, is there nothing else to do< In his childhood, Wang Yanan was ambitious and fond of reading. When he was in middle school, in order to get more time to study, he sawed one foot of his wooden bed half a foot short to make a three legged bed. Every night, when he was tired, he went to bed and turned over in a daze. The bed tilted towards his short feet. He was awakened and got out of bed immediately to read at night. It's like this every day. It never stops. As a result, he achieved excellent results every year and was praised as one of the three outstanding students in the class. Because he studied hard in his youth, he finally became an outstanding economist in China
to save time is to make a person's limited life more effective, which means to extend his life span
3. Foreign countries need to do in the inspection, and then apply for import license on the line, looking forward to the joint fine
4. Unknown_Error
5. Including the original physical currency, metal weighing currency, year Baowen currency, paper currency and machine-made currency, with square hole yuan as the main currency form< br />1、" Coins & quot; The origin and interesting talk of the coin:
(shell coin, & quot; Brother Kong Fang & quot& quot; A Du Wu & quot& quot; Deng Tong half Liang< 2. The four major monetary systems in the Warring States Period:
the cloth coins of Han, Zhao, Wei and Yan states in the central plains; Dao coin of the state of Qi in the northeast of China; The state of Qin in Northwest China adopted ring coin; Zhuwen copper shell of Chu state in South China; Ant nose money & quot; And & quot; Yuan Jin & quot; And so on
3. Qin Shihuang abolished the unified currency of the six countries:
(& quot; Half Liang & quot; 4. The beginning of the reign of Emperor Wu of Han Dynasty; Five baht & quot; Money:
(used until the early Tang Dynasty, it is the longest lived currency in China)
5; Kaiyuan Tongbao & quot; Money:
(realize the change from two systems of baht to Baowen system of decimal system)<
6. Copper and iron coins appeared in parallel with paper money in the Song Dynasty:
(the birth and circulation of paper money in the heyday of Chinese coin Art)
7. The monetary system of Ming and Qing Dynasties was dominated by silver and supplemented by money< In the late Qing Dynasty, machine-made coins of silver and copper were used:
(instead of silver ingots and square hole round coins).
(shell coin, & quot; Brother Kong Fang & quot& quot; A Du Wu & quot& quot; Deng Tong half Liang< 2. The four major monetary systems in the Warring States Period:
the cloth coins of Han, Zhao, Wei and Yan states in the central plains; Dao coin of the state of Qi in the northeast of China; The state of Qin in Northwest China adopted ring coin; Zhuwen copper shell of Chu state in South China; Ant nose money & quot; And & quot; Yuan Jin & quot; And so on
3. Qin Shihuang abolished the unified currency of the six countries:
(& quot; Half Liang & quot; 4. The beginning of the reign of Emperor Wu of Han Dynasty; Five baht & quot; Money:
(used until the early Tang Dynasty, it is the longest lived currency in China)
5; Kaiyuan Tongbao & quot; Money:
(realize the change from two systems of baht to Baowen system of decimal system)<
6. Copper and iron coins appeared in parallel with paper money in the Song Dynasty:
(the birth and circulation of paper money in the heyday of Chinese coin Art)
7. The monetary system of Ming and Qing Dynasties was dominated by silver and supplemented by money< In the late Qing Dynasty, machine-made coins of silver and copper were used:
(instead of silver ingots and square hole round coins).
6. Intangible assets appraisal case:
goodwill appraisal case
case
client: company a
appraisal object: Company A's goodwill
appraisal purpose: joint stock restructuring of company a
appraisal base date: July 31, 2002
appraisal method: resial income method
we have implemented the legal documents, accounting records and related assets provided by company A On the basis of necessary property right verification, on-the-spot inspection and verification of assets submitted by company a, necessary market investigation and comparison of transaction price, the paper puts forward objective and fair evaluation opinions on the market value of all assets designated by company a on July 31, 2002, Then it makes a fair judgment on the goodwill price of company A< First of all, we use the income present value method to evaluate all the assets of company a, and then dect the tangible assets and identifiable intangible assets of company a that we use the replacement cost method or the current market price method to evaluate, and the remaining amount can be judged as the price of goodwill of company A. this method is called the income surplus method< The basic steps are as follows:
1, We confirm that the future expected return period of the appraised assets of company a is 10 years
2. Forecast the future income
forecast the future income, that is, the future cash flow (including the future operating profit, the future depreciation, the expected resial value of fixed assets at the end of the income period and the expected recovery of the current working capital). The specific steps are as follows:
(1) there are mainly X and Y procts in company A. x proct is the main raw material of Z instrial procts. According to the sales data of X proct in recent five years provided by company a's profit statement and the sales market forecast of Z instrial procts and X proct in China, the future sales volume is determined by using the moving weighted average method and index method; According to the sales price information of procts in recent five years provided by company a, the future market supply-demand relationship, inflation and raw material price forecast, the future sales price is determined by using the moving weighted average method and index method; According to the current average burden rate of sales tax of company a, the future sales tax rate is determined. Based on this, the sales revenue and tax forecast table for the next three years is worked out
(2) according to the historical data of unit consumption and unit price of direct materials, fuel and power provided by the unit proct cost table of main procts of company a and relevant consumption quota statistical table, and considering the influence of enterprise technological transformation and consumption rection, future market price change, import and export tariff rate change and other factors, The unit cost of direct materials and fuel power of procts in the future is determined by regression analysis and index adjustment method, and the prediction table of unit cost of direct materials and fuel power of procts in the next three years is compiled; According to the historical data of wage expenses and workshop expenses provided by the unit proct cost statement of main procts and the detailed statement of workshop expenses and enterprise management expenses of company a, after certain adjustment according to the requirements of enterprise accounting system, the unit cost of direct labor and manufacturing expenses is determined by using index adjustment method and moving weighted average method. Based on this, the proction cost forecast table for the next three years is worked out
(3) according to the historical data of company a's workshop expenses, business management expenses and bank loan balance provided by the detailed statement of company a's workshop expenses, business management expenses and bank loan balance, after making certain adjustments according to the requirements of the enterprise accounting system issued by the Ministry of Finance, considering the future trend of business management expenses and sales expenses, the moving weighted average method and index adjustment method are used, Determine the management expenses, sales expenses and financial expenses in the next three years. Based on this, the forecast tables of management expenses, sales expenses and financial expenses are prepared
(4) using the data provided by the above sales revenue and tax forecast, proction cost forecast, management expenses, sales expenses and financial expenses forecast, and based on the historical data of other business profits provided by the company's profit statement, the index adjustment method is used to determine other business profits in the next three years, so as to prepare the business profit forecast for the next three years
(5) based on the operating profit of the next three years, the moving weighted average method and index adjustment method are used to determine the operating profit of the next 10 years
(6) according to the original value and net value of fixed assets after decting the part of life fixed assets provided by the balance sheet and relevant fixed assets ledger of company a, the expected average annual depreciation in the next 10 years and the expected resial value of fixed assets after 10 years are determined by using the straight-line method
(7) the amount of self owned working capital provided by the balance sheet of company a in July 2002 is regarded as the resial value of working capital in 10 years
3. Determination of discount rate
the discount rate of income present value method is determined by comprehensively considering the average capital profit rate of the same instry and the lowest average return rate of social capital. In the income method of company a, we adopt a discount rate of 8.5%
4. Cash flow forecast
according to the above cash flow forecast and the determined discount rate, prepare a company's cash flow forecast for the next 10 years and the assets appraisal table of income present value method Considering that there are historical reasons for the financial expenses in company a, which are composed of bank loan interest expense and exchange loss, the operating profit in the next three years after decting the financial expenses can not accurately reflect the income level of its actual assets. Therefore, when determining the cash flow, we will add the operating profit and financial expenses to form the profit in the cash flow< Second, the appraisal results
after the implementation of the above appraisal proceres and methods, the appraisal value of all the assets of company a used for the purpose of restructuring into a joint stock limited company is obtained, decting the appraisal value of tangible assets and identifiable intangible assets according to the replacement cost method and the current market price method, We judged the fair market value of the goodwill of company a on July 31, 2002 and reflected it as follows (unit: 10000 yuan):
the total value of all assets assessed by income method was 141441.6
the assessed value of tangible assets and identifiable intangible assets was 138190.8
the assessed value of goodwill of company a was 3250.8
the assessed value of intangible assets (1)
the assessed value of intangible assets (1)
the assessed value of intangible assets (1)
the assessed value of goodwill of company a was 3250.8 1、 Appraisal project name: value appraisal of intangible assets of company A. 2. Entrusting party and asset owner: company a (brief overview)
3. Appraisal purpose: to provide price basis of intangible assets for company a to invest its assets in a joint stock limited company< Fourth, the scope and object of evaluation: intangible assets of company A< 5. Appraisal base date: July 31, 1998. 6. Appraisal basis (1) opinions on asset appraisal operation standard (Trial Implementation) issued by the state owned assets administration< (2) China Machinery Instry Yearbook (1997) & gt& gt;;< (3) announcement No.5 of 1998 issued by the Ministry of Finance on June 9, 1998< (4) announcement of the people's Bank of China on the adjustment of deposit and loan interest rates on June 30, 1998< (5) the proction and operation performance monitoring indicators of state-owned enterprises from January to June 1998 released by China economic climate monitoring center on June 30, 1998< (6) the annual financial statements of company a from 1994 to 1997< (7) patent certificate and scientific and technological achievement appraisal certificate provided by company A< 7. The inventory of intangible assets of company a refers to all economic resources which are not independent entities controlled by specific entities and can play a long-term role in proction and operation and bring economic benefits. The specific forms of intangible assets include special train, proprietary technology, trademark, goodwill and so on. The criterion to judge whether an enterprise has intangible assets is whether there is excess return in its operation effect. Excess income refers to the part of enterprise income that exceeds the average income< (1) Company A has intangible assets
Company A is an instrial enterprise mainly engaged in the proction and sales of vibration and pulling machinery in mining and metallurgical equipment. In order to judge whether the company has intangible assets, we do a lot of investigation work, and then make a judgment on the basis of analysis. Based on the annual financial statements of company a from 1994 to 1997, we have compiled the statistical and analytical table of financial data of company a from 1994 to 1997 (see Table 1 for details), and made the following analysis on whether there is excess return of company A. The assessment of excess return mainly depends on the net profit rate of sales and net profit rate of assets to see whether it exceeds the average level of instry, instry and society. From 1994 to 1997, the net profit margin of sales of company a was stable at 12.32% to 13.34%, with an average of 12.70% for four years. Company a belongs to the mining and metallurgy machinery manufacturing instry. According to China Machinery Instry Yearbook 1997, the sales profit margin of the mining and metallurgy machinery manufacturing instry, which is independently accounted in China, was - 2.74% in 1996. According to the latest data, the sales profit margin of 58000 instrial enterprises at the end of June 1998 was 10.2%. It is obvious from the above data that the net profit margin of sales of company a has greatly exceeded the average level of the same instry and the average level of instrial enterprises. From 1994 to 1997, the net profit margin of a company's assets ranged from 8.19% to 10.84%, and increased year by year, with an average of 10.05% in four years. According to the "China Machinery Instry Yearbook 1997", it is known that the national independent accounting of mining and metallurgical machinery manufacturing instry's asset profit rate in 1996 was 1.18%. According to the latest data, the asset profit margin of 58000 instrial enterprises in June 1998 was - 0.1%. It can be compared with the asset income level of the society as follows. Assuming that the total assets of the enterprise are sold into cash and deposited in the bank to obtain legal interest, according to the one-year fixed bank deposit interest rate of 5.67% in 1997, it can be regarded as the index of social average interest level. The average return on assets of a company in the first four years is 10.05%, which is 1.77 times of the social income level of 5.67%. The return on assets of the first four years is much higher than the average return on assets of the same instry, instrial enterprises and society. In the same instry and the national state-owned instry in the average and overall sense are in the case of losses, a company maintains a high level of net profit rate of sales and net profit rate of assets, and is growing year by year. Compared with the bank deposit interest rate as the average social income level, the former is 77% higher than the latter. All of the above shows that company a has high excess earnings, so we determine that the company has intangible assets< Statistics and analysis of financial data of company a from 1994 to 1997
Table 1 (unit: yuan)
serial number name annual data total annual average
94 95 96 97
annual sales revenue 1652.08 2291.45 2855.72 3462.88 10262.13 2565.53
annual increase 639.37 564.27 607.16 1810.00 80 603.60
annual growth rate: 38.70% 24.63% 21.26% 27.98%
total profit in two years: 315.72 421.35 568.44 642.62 1945.16 486.29
net profit in three years: 209.54 282.31 380.86 430.55 1303.26 325.82
annual increase: 72.77 98.55 49.69 221.01 73.67
goodwill appraisal case
case
client: company a
appraisal object: Company A's goodwill
appraisal purpose: joint stock restructuring of company a
appraisal base date: July 31, 2002
appraisal method: resial income method
we have implemented the legal documents, accounting records and related assets provided by company A On the basis of necessary property right verification, on-the-spot inspection and verification of assets submitted by company a, necessary market investigation and comparison of transaction price, the paper puts forward objective and fair evaluation opinions on the market value of all assets designated by company a on July 31, 2002, Then it makes a fair judgment on the goodwill price of company A< First of all, we use the income present value method to evaluate all the assets of company a, and then dect the tangible assets and identifiable intangible assets of company a that we use the replacement cost method or the current market price method to evaluate, and the remaining amount can be judged as the price of goodwill of company A. this method is called the income surplus method< The basic steps are as follows:
1, We confirm that the future expected return period of the appraised assets of company a is 10 years
2. Forecast the future income
forecast the future income, that is, the future cash flow (including the future operating profit, the future depreciation, the expected resial value of fixed assets at the end of the income period and the expected recovery of the current working capital). The specific steps are as follows:
(1) there are mainly X and Y procts in company A. x proct is the main raw material of Z instrial procts. According to the sales data of X proct in recent five years provided by company a's profit statement and the sales market forecast of Z instrial procts and X proct in China, the future sales volume is determined by using the moving weighted average method and index method; According to the sales price information of procts in recent five years provided by company a, the future market supply-demand relationship, inflation and raw material price forecast, the future sales price is determined by using the moving weighted average method and index method; According to the current average burden rate of sales tax of company a, the future sales tax rate is determined. Based on this, the sales revenue and tax forecast table for the next three years is worked out
(2) according to the historical data of unit consumption and unit price of direct materials, fuel and power provided by the unit proct cost table of main procts of company a and relevant consumption quota statistical table, and considering the influence of enterprise technological transformation and consumption rection, future market price change, import and export tariff rate change and other factors, The unit cost of direct materials and fuel power of procts in the future is determined by regression analysis and index adjustment method, and the prediction table of unit cost of direct materials and fuel power of procts in the next three years is compiled; According to the historical data of wage expenses and workshop expenses provided by the unit proct cost statement of main procts and the detailed statement of workshop expenses and enterprise management expenses of company a, after certain adjustment according to the requirements of enterprise accounting system, the unit cost of direct labor and manufacturing expenses is determined by using index adjustment method and moving weighted average method. Based on this, the proction cost forecast table for the next three years is worked out
(3) according to the historical data of company a's workshop expenses, business management expenses and bank loan balance provided by the detailed statement of company a's workshop expenses, business management expenses and bank loan balance, after making certain adjustments according to the requirements of the enterprise accounting system issued by the Ministry of Finance, considering the future trend of business management expenses and sales expenses, the moving weighted average method and index adjustment method are used, Determine the management expenses, sales expenses and financial expenses in the next three years. Based on this, the forecast tables of management expenses, sales expenses and financial expenses are prepared
(4) using the data provided by the above sales revenue and tax forecast, proction cost forecast, management expenses, sales expenses and financial expenses forecast, and based on the historical data of other business profits provided by the company's profit statement, the index adjustment method is used to determine other business profits in the next three years, so as to prepare the business profit forecast for the next three years
(5) based on the operating profit of the next three years, the moving weighted average method and index adjustment method are used to determine the operating profit of the next 10 years
(6) according to the original value and net value of fixed assets after decting the part of life fixed assets provided by the balance sheet and relevant fixed assets ledger of company a, the expected average annual depreciation in the next 10 years and the expected resial value of fixed assets after 10 years are determined by using the straight-line method
(7) the amount of self owned working capital provided by the balance sheet of company a in July 2002 is regarded as the resial value of working capital in 10 years
3. Determination of discount rate
the discount rate of income present value method is determined by comprehensively considering the average capital profit rate of the same instry and the lowest average return rate of social capital. In the income method of company a, we adopt a discount rate of 8.5%
4. Cash flow forecast
according to the above cash flow forecast and the determined discount rate, prepare a company's cash flow forecast for the next 10 years and the assets appraisal table of income present value method Considering that there are historical reasons for the financial expenses in company a, which are composed of bank loan interest expense and exchange loss, the operating profit in the next three years after decting the financial expenses can not accurately reflect the income level of its actual assets. Therefore, when determining the cash flow, we will add the operating profit and financial expenses to form the profit in the cash flow< Second, the appraisal results
after the implementation of the above appraisal proceres and methods, the appraisal value of all the assets of company a used for the purpose of restructuring into a joint stock limited company is obtained, decting the appraisal value of tangible assets and identifiable intangible assets according to the replacement cost method and the current market price method, We judged the fair market value of the goodwill of company a on July 31, 2002 and reflected it as follows (unit: 10000 yuan):
the total value of all assets assessed by income method was 141441.6
the assessed value of tangible assets and identifiable intangible assets was 138190.8
the assessed value of goodwill of company a was 3250.8
the assessed value of intangible assets (1)
the assessed value of intangible assets (1)
the assessed value of intangible assets (1)
the assessed value of goodwill of company a was 3250.8 1、 Appraisal project name: value appraisal of intangible assets of company A. 2. Entrusting party and asset owner: company a (brief overview)
3. Appraisal purpose: to provide price basis of intangible assets for company a to invest its assets in a joint stock limited company< Fourth, the scope and object of evaluation: intangible assets of company A< 5. Appraisal base date: July 31, 1998. 6. Appraisal basis (1) opinions on asset appraisal operation standard (Trial Implementation) issued by the state owned assets administration< (2) China Machinery Instry Yearbook (1997) & gt& gt;;< (3) announcement No.5 of 1998 issued by the Ministry of Finance on June 9, 1998< (4) announcement of the people's Bank of China on the adjustment of deposit and loan interest rates on June 30, 1998< (5) the proction and operation performance monitoring indicators of state-owned enterprises from January to June 1998 released by China economic climate monitoring center on June 30, 1998< (6) the annual financial statements of company a from 1994 to 1997< (7) patent certificate and scientific and technological achievement appraisal certificate provided by company A< 7. The inventory of intangible assets of company a refers to all economic resources which are not independent entities controlled by specific entities and can play a long-term role in proction and operation and bring economic benefits. The specific forms of intangible assets include special train, proprietary technology, trademark, goodwill and so on. The criterion to judge whether an enterprise has intangible assets is whether there is excess return in its operation effect. Excess income refers to the part of enterprise income that exceeds the average income< (1) Company A has intangible assets
Company A is an instrial enterprise mainly engaged in the proction and sales of vibration and pulling machinery in mining and metallurgical equipment. In order to judge whether the company has intangible assets, we do a lot of investigation work, and then make a judgment on the basis of analysis. Based on the annual financial statements of company a from 1994 to 1997, we have compiled the statistical and analytical table of financial data of company a from 1994 to 1997 (see Table 1 for details), and made the following analysis on whether there is excess return of company A. The assessment of excess return mainly depends on the net profit rate of sales and net profit rate of assets to see whether it exceeds the average level of instry, instry and society. From 1994 to 1997, the net profit margin of sales of company a was stable at 12.32% to 13.34%, with an average of 12.70% for four years. Company a belongs to the mining and metallurgy machinery manufacturing instry. According to China Machinery Instry Yearbook 1997, the sales profit margin of the mining and metallurgy machinery manufacturing instry, which is independently accounted in China, was - 2.74% in 1996. According to the latest data, the sales profit margin of 58000 instrial enterprises at the end of June 1998 was 10.2%. It is obvious from the above data that the net profit margin of sales of company a has greatly exceeded the average level of the same instry and the average level of instrial enterprises. From 1994 to 1997, the net profit margin of a company's assets ranged from 8.19% to 10.84%, and increased year by year, with an average of 10.05% in four years. According to the "China Machinery Instry Yearbook 1997", it is known that the national independent accounting of mining and metallurgical machinery manufacturing instry's asset profit rate in 1996 was 1.18%. According to the latest data, the asset profit margin of 58000 instrial enterprises in June 1998 was - 0.1%. It can be compared with the asset income level of the society as follows. Assuming that the total assets of the enterprise are sold into cash and deposited in the bank to obtain legal interest, according to the one-year fixed bank deposit interest rate of 5.67% in 1997, it can be regarded as the index of social average interest level. The average return on assets of a company in the first four years is 10.05%, which is 1.77 times of the social income level of 5.67%. The return on assets of the first four years is much higher than the average return on assets of the same instry, instrial enterprises and society. In the same instry and the national state-owned instry in the average and overall sense are in the case of losses, a company maintains a high level of net profit rate of sales and net profit rate of assets, and is growing year by year. Compared with the bank deposit interest rate as the average social income level, the former is 77% higher than the latter. All of the above shows that company a has high excess earnings, so we determine that the company has intangible assets< Statistics and analysis of financial data of company a from 1994 to 1997
Table 1 (unit: yuan)
serial number name annual data total annual average
94 95 96 97
annual sales revenue 1652.08 2291.45 2855.72 3462.88 10262.13 2565.53
annual increase 639.37 564.27 607.16 1810.00 80 603.60
annual growth rate: 38.70% 24.63% 21.26% 27.98%
total profit in two years: 315.72 421.35 568.44 642.62 1945.16 486.29
net profit in three years: 209.54 282.31 380.86 430.55 1303.26 325.82
annual increase: 72.77 98.55 49.69 221.01 73.67
7. There is no such situation. Generally speaking, the domestic supply of goods is relatively sufficient, so it is relatively stable in this respect. There is no such problem at all.
Hot content