商誉减值测试中营运资金预测问题探讨

Exploration of How to Predict Working Capital in Tests of Goodwill Impairment

注册会计师年报审计时的一大难题——商誉减值测试,由于涉及管理层主观重大判断,测试涉及的参数较多,复杂程度较高。在预测未来现金流时,营运资金的预测对评估对象的价值影响很大,在现金流折现模型,营运资金的预测是重要的指标之一。对营运资金的预测方法较多,而且存在用营运资金预测来调节评估对象的评估值,存在较大的随意性,直接影响到商誉是否减值,及减值金额的大小。本文通过对运资金的分类对企业的各类营运资金进行预测,从而进一步测试出商誉是否减值。

A key challenge in the audit of annual financial reports is how to test the goodwill impairment.As it involves the significant subjectivejudgment by the management and a lot of variables, such tests have become very complicated. When predicting thefuture cash flows,the prediction of theworking capital significantly impacts the value of the evaluated objects.In the discounted cash flow model,the predicted working capital is one of the important variables.Whether goodwill should be impaired and the amount of impairments depend on theprediction of working capital. However, there are many differentmethods tomakesuch predictions so that it is highly arbitrary to adjust the value ofthe evaluated objects with the predicted working capital. This articleclassifies the working capital into various categories and then predicts the amounts of each categoryof the working capital in different companies, so as to further testwhether goodwill should be impaired.