OBJECTIVES AND METHODS OF BUSINESS VALUATION IN THE MARITIME INDUSTRY

Abstract

The business appraisal process is described in many works. It states that the main purpose of the assessment process is to identify critical business areas that create value. In which publications are investigated the methodological foundations for assessing the value of property. The problems of different approaches to the assessment of property objects in seaports are described. But there is a lack of comprehensive business valuation studies in other sectors of the maritime industry, such as onshore services.The aim of the work is to study the goals and methods of assessing the value of a business in various areas of the maritime industry, taking into account their specifics.Business valuation is a multilevel complex process. When evaluating a business, it is necessary to audit and sometimes revalue all the assets of the company. It is necessary to build forecasts for a certain time interval.Before starting the business appraisal process, it is necessary to take into account certain key factors: economic factors (profitability and risks), political factors (lack of a stable and predictable situation in the industry), social factors (personal reasons of customers and consumers of appraisal), information factors (for correct estimates need reliable information). The need to assess the value of a business arises in almost all transformations: when buying and selling an enterprise, its corporatization, mergers and acquisitions, as well as in many other situations.There are situations when the need to assess those specified in the law. Basically, these cases concern the appraisal of state property.There are many other situations where an assessment needs to be made. These include: buying − selling a company, making management decisions, determining the amount of tax on the company's property, insuring the company's property, obtaining a loan, investing.A properly performed appraisal is also a monitoring of the company's performance and revaluation of the property's value. Therefore, it is important to ensure that the financial data to be evaluated is complete, current and accurate. Only with reliable data and a well-planned strategic approach can a reliable forecast be made. The more complete and detailed the data for analysis are, the more accurate and qualitative the results of the assessment will be.The most common valuation method is the discounted cash flow method. Its advantage is the ability to measure future results today. This is a complex expert method, but it provides information about the business prospects.