Goodwill Evaluation Of Liquor Enterprise Based On Improved Excess Earnings Method

With the vigorous development of China’s economy,the merger and acquisition activities of listed companies are becoming more and more frequent,and the scale of goodwill is increasing.Goodwill has become a component of enterprise value that cannot be ignored.However,for some enterprises,the value of high-quality goodwill in their non-acquisition,merger business activities is not well reflected in the company’s financial statements.Such a practice is not conducive to the goodwill management of enterprises,easy to cause the loss of state-owned assets and other problems.At the same time,due to the late start of the evaluation of business goodwill,the theoretical system and evaluation methods of the value of business goodwill are not perfect.Therefore,it is of great theoretical and practical significance to select the evaluation method that can best reflect the meaning of the goodwill value according to the specific evaluation object and reasonably evaluate the value of business goodwill.Combining with the important connotation that goodwill is the performance of excess earnings in the future,this paper discusses the selection and improvement of the valuation method of goodwill of liquor enterprises.Based on the characteristics of the liquor industry and the components of the goodwill value of the liquor enterprise,this paper discusses the applicability of different evaluation methods in the goodwill evaluation on the liquor enterprise,and finally selects the method of excess earnings to evaluate the goodwill value on the liquor enterprise from the perspective that goodwill is the essence of the performance of the enterprise’s excess earnings in the future.However,the evaluation of excess earnings method also has the limitation of the subjectivity of excess return prediction.In order to make up for this deficiency in the evaluation process of excess return method,this paper further uses the grey Markov model to predict excess return,and finally builds the goodwill value evaluation model of liquor enterprises based on the improved excess earnings method.And Anhui Gujing Distillery Company Limited is selected as a specific case to test the applicability of this model in evaluating the goodwill value of liquor enterprises.In this paper,the self-generated goodwill of enterprises is taken as the evaluation object,the improved excess earnings method is used to evaluate the value of goodwill of liquor enterprises,and the evaluation results are distinguished from the purchased goodwill value in the financial statement.Meanwhile,the grey Markov model is introduced to improve the prediction process of excess earnings,and the prediction data with the required accuracy is obtained according to the change trend and fluctuation of the original value.The grey Markov model makes the results of goodwill valuation more reasonable and accurate.The research results of this paper enrich the theory of valuation of business goodwill to a certain extent,and also provide an important reference for business managers to improve profitability through value management of goodwill.