OVERVIEW OF INTERNATIONAL AND FOREIGN STANDARDS FOR ESTIMATING BUSINESS VALUE IN THE SYSTEM OF LEGAL REGULATION OF VALUATION ACTIVITIES

Abstract

The purpose of this research is to review the international and domestic standards of business value estimation in the system of legal regulation of valuation activity and to determine directions for improvement and improvement of business value estimation methodology. It may be noted that, unlike national legislation, special attention is paid to the assessment of small and medium-sized businesses in international legislation. In order to make management decisions, in modern conditions, to evaluate the activities of enterprises and businesses, to implement legal regulation of their evaluation is the main basis of property interests. Hence, there is a need to conduct a comparative analysis of various assessment approaches according to international standards, with the aim of improving domestic standards. Therefore, the development of international standards and international relations is the basis and incentive for improving the methodology of assessing value in domestic approaches. During the research, the following methods were used: alternative method, comparison method, methods of absolute advantages, analytical modeling, method of cost of lost opportunities. During the review and analysis of international and domestic valuation standards, it was found that there is a tendency to improve the domestic standard when valuing integral property complexes and businesses. The analysis of methodical approaches to cost estimation made it possible to identify differences in international and domestic approaches, revealed the use of various tools in cost estimation and the expediency of their use in modern conditions of the development of the economy of Ukraine. The practical value of the article comes from the conclusion that the economic development of Ukraine does not allow to use, to the full extent, the market and income approaches of value estimation, as well as to refuse, as is done in other countries, the use of the property approach. The article also suggests abandoning the assessment methodology prescribed in national standards, and following the example of international standards, accept them as explanations and recommendations. It is proposed to change the existing term "comprehensive property complex" to "business". The concept of business is broader and more fully corresponds to approaches to value estimation when using international standards.