A Study On Yanghe Brewery's Goodwill Valuation

In recent years,due to the active transaction of property rights,the number of goodwill disclosed by listed companies has increased,most of which are generated by mergers and acquisitions.The value of goodwill is a part of the value of the enterprise and the ability to manage it has obvious effects on the company's profit.If the provision for impairment loss of goodwill is too large,it will even lead to the enterprise's profits losses,seriously disrupting the market order.Goodwill is reduced to the "accomplice" to manipulate profits of listed entities,which leads to serious damage to the interests of investors.With access to the domestic and foreign research results,the excess earnings method and cutting method have been recognized by experts and scholars,and the excess earnings method is more close to the essential attribute that goodwill can bring excess returns for the enterprise,which is theoretically better than the cutting method.But in the assessment of the company and the actual business of List-ed Companies in the announcement,a company assessment of goodwill usually adopts the cutting method.Firstly,using the income method of assessment to valuate the present value of cash flow company operating assets and liabilities in the future expected to produce,and calculating the value of the non operating assets,the excess assets and interest liabilities,we can conclude the enterprise value measured by the income method.Secondly,the scope and fair value of identifiable assets of the valuated company are determined.Thirdly,the difference between the calculated results and the fair value of the identifiable net assets is calculated by the income method,and the goodwill value on the base day of assets evaluation is obtained.The excess earning method is hard to carry out in the future income in a scientific,rational and objective prediction and seldom used in practice.A case study using the method of excess earnings is more blank.What are the factors that affect the value of goodwill? How to valuate the value of goodwill in traditional goodwill valuation? What advanced forecasting methods can be applied to the valuation field under the intelligent tide?In theory,any value has its unique formation mechanism and finally is formed by various factors together.This paper will study the driving factors that increase goodwill value,define what specific factors will affect the value of the goodwill and began to study the goodwill evaluation with these questions.Based on the mature forecasting methods of other field of research,in the form of case,we will do specific research on a new method applied in asset valuation of goodwill valuation,which can make up fortheory blank of the influential factors asset valuation has in using the income method on nonlinear.In practice,the results of this study can provide a new way and pattern of valuation for valuation company to calculate the value of goodwill and is beneficial to enterprise managers to do the dynamic management of corporate reputation and corporate value.What's more,it can also provide a reference for investors to objectively and accurately understand the goodwill value of the enterprise and reduce unnecessary investment risk.In the theoretical part,this paper will first define the driving factors of goodwill value,and conclude the theoretical basis of choosing the indicators affecting goodwill value in case study.Then we will compare different applicability of traditional assessment methods in goodwill valuation.According to the theoretical basis of the excess earnings method is more fully but practically in dilemma,we will apply the study of grey forecasting,neural network and Markov chain in the asset evaluation.Taking the Yanghe River wine industry as the research object,combining DuPont analysis formula to judge the income indicators,we will deeply analyze of the Yanghe River wine business and liquor industry market expectations and the impact of various fields on goodwill.With the help of MATLAB software,the grey neural network and Markov chain model are used to achieve good human-computer interaction,and the "pain point" in the prediction of revenue is solved.Scientific calculation of goodwill value and the rational analysis of the results will be obtained by this method.Finally,it is a summary of the full text,expounds the basic conclusions of the full text,puts forward the corresponding recommendations,and explains the limitations of this paper.Based on the full text,this paper innovation points in earnings forecasts asset appraisal path modernization and innovation,combination of the finance and engineering in integrated intelligent algorithm,using MATLAB programming method,the longitudinal choose grey prediction,transverse selected BP neural network,using different database storage enterprise,industry reports,research data in nearly a decade,crisscrossed comprehensive screening,sorting index system.By markov chain on the time series of dynamic correction,in order to make the fairness of the goodwill valuation is higher,and easier operability.