Research On Evaluation Data Adjustment

The development of the DCF method in the enterprise valuation is promoted by market demand and the logical rigor test of this method is put forward. DCF approach is a strong technical evaluation method to practice. In the actual evaluation process, the enterprise only can provide appraiser financial statements. Appraisers first face the problem of transferring financial statement data to evaluation data.This article is a theory research about how to adjust the financial statement data to evaluation data. This article is divided into five parts in the structure, main contents are as follows:The first part is the introduction which introduces research background, research significance, research contents and research methods.The second part is about the basic concepts and research literature review which defines the basic concepts and summarizes the related literature and research contents.The third part describes the adjustment of the non-operating assets. According to the economic-meaning difference between operational assets and non-operating assets, this part identifies non-operating cash and non-operating financial assets and other non-operating assets, provides the technical path of adjusting non-operating assets.The fourth part describes the adjustment of the costs capitalization. According to the economic-meaning difference between capital expenditure and operating expenditure, this part argues that enterprise should have the operating lease commitment and R&D expenditure reclassified as capital expenditure, provides the technical path of adjusting costs capitalization.The fifth part summarizes research conclusions and further research topics.