/ / Entrepreneurial income of an enterprise as a basic indicator of its value

Entrepreneurial income of an enterprise as a basic indicator of its value

The relevance of research models on valuation enterprises in a profitable waythe ongoing processes of corporatization and privatization of enterprises. Thus, the share of private property in the total number of functioning enterprises on the territory of the CIS countries reaches 90%.

Currently, in these countries, the main methodcost estimation is costly. However, in a market economy, a potential investor will not invest in a business project without making sure that the company after the acquisition will generate revenue. Any investor investing financial resources in an enterprise buys, first of all, the flow of future income. One of the main reasons why the revenue model models are not used in valuation is the ambiguous definition of the terms "income", "income capitalization", "net income" , "Profit capitalization", "entrepreneurial income", etc. Methodologically, the problem of how income from entrepreneurial activity as a whole, and what indicators of income in particular, to use in assessing the enterprise and its effectiveness functioning. Taking into account all the complexities and uncertainties in the evaluation of efficiency, the most developed in terms of theory and methodology are approaches for individual projects (investment project, modernization of production and introduction of new equipment, accounting systems, correction analysis, etc.) than the enterprise's assessment as a whole.

For example, to assess the economic efficiencyat the state level, a general indicator of the national gross income is applied, at the enterprise level - the indicator of profit, cash flow. There are many private indicators: profitability, turnover, entrepreneur's income, investment efficiency, capital intensity, return on assets, labor productivity and others.

Due to the evolution of the information and economicdevelopment over the past decade continued to change perceptions of effectiveness. One of the most significant changes is connected with the transition to market development of the economy. Under the market method of management, many of the indicators used for assessing efficiency do not contradict each other. However, it is very difficult to establish a generalizing indicator. In addition, it can be calculated by different methods.

The notion of "entrepreneurial income" and itselfthe index of income in the system of indicators of the efficiency of industries at the macro level in the regulatory documents of the Russian Federation is not provided. The components of the "Education of incomes by branches" account contain the following indicators: gross added value, gross profit, labor remuneration, gross mixed incomes. There is no indicator "entrepreneurial income" and in the section "General economic indicators".

In addition to the above indicators, in the sectionThe "finance and credit" of the statistical yearbook is additionally recommended in calculating the efficiency of the industries to calculate the articles: "net profit", "return on assets" and others. As a consequence, in the management of the economy at the micro level, the concept of "entrepreneurial income" and income, as indicators in the assessment of enterprises as a general, are not used.

As a consequence, when assessing an enterpriseMany indicators are used without an emphasis on the general nature and without taking into account the specifics of the methodology for calculating it. This indicates the need to introduce a core integrated indicator that assesses the effectiveness of the enterprise and takes into account the interaction with all other stakeholders that can generate revenue in the future. This indicator is the maximization of the value of the enterprise by increasing the income of all participants in production.

Approach to estimating this income in a marketThe way of management expresses the ratio between the market value of an enterprise and the income received by owners, employees of an enterprise and the state, plus the value of net assets that can generate future income by means of cash inflows.