Abstract
The reason for approaching this topic in our article starts from the fact that the value of goodwill (GW), which is an indicator that expresses the intangible value of the company, that is a factor with essential contribution to the company’s market value, is determined through a method which we consider to be imprecise – respectively as difference between the price of sale of the asset and the value estimated by the evaluator. Or, the result obtained by this method is not accurate, and it does not answer the knowledge and information needs of the manager. In this article, we refer to the fact that managers also want to know, besides the GW, the factors that contributed to its achievement and factors that contributed to its achievement and in what percentage. The need appears more important in cases of the sale of companies when both the buyer and the seller are interested in establishing a fair price, based on the market value of the company in question. Starting from this practical requirement, the authors plan to elaborate econometric models based fuzzy set, by which they would determine the right level of the goodwill and to provide information in connection with the generating factors
Highlights
As the intangible assets bring additional profit in relation with other companies from the same category, but that don’t benefit of the mentioned items and that, as we showed before, determines the goodwill, value of the company (V0) should be established by adding GW to the value established for tangible assets, respectively ANC, according to the ratio (Ioniță, 2008)
In the current practice, establishing the value of an asset is achieved by using evaluation methods based on tangible and intangible assets
The first one leads to the determination of ANC, and the last ones to the determining the super profit or of the goodwill
Summary
The property that in economics takes the form of capital is subject to some specific processes such as privatization, sale, division, merger, liquidation, etc., processes that create a market of the companies. The methodology used currently by evaluators, intangible assets of the goodwill are not subject to an evaluation and nor of a separate recording in the balance sheet, they contribute in maintaining and development the potential of the company’s activities In this context, we appreciate that a fair assessment of a company is only the one including in the final value established by the evaluator and surplus of value or of the goodwill which the goodwill generates and that is calculated with a high degree of accuracy. In the case of our evaluation, a big interest for the application of the fuzzy sets is represented by the evaluation of the intangible assets They hold an important weight, in the final value of the company, their evaluation is not made by a rigorous methodology, based on mathematic calculations that would assure us that the result is correct. We disclose the method of evaluation of these results for various stages and compartments
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