11. Pro 2006
2
Dobrý den, mám dotaz jak ocenit v závěrce akcie registrované na veřejném trhu. Tyto akcie však jsou v ročním úhrnu obchodovány v minimálním rozsahu 0,1-0,2% celkového počtu akcií (řádově desítky kusů akcií změní majitele za rok). Současně více jak 95% akcií je v držení jedné skupiny majetkově a personálně propojených osob do které vlastník patří. Domnívám se, že veřejný trh sice existuje, ale cena na něm nemusí být objektivní a tuto cenu nelze pro ocenění použít. A pokud ji opravdu nelze použít, tak jakým způsobem k ocenění přistoupit. Za nasměrování předem děkuji.
Re: Veřejný trh
Napsal uživatel Mladek dne Po, 12/11/2006 - 13:40.
Ano, máte pravdu. Aktivní trh pro tyto nástroje neexistuje.
Proto, podle IAS 39.46.c nástroje budete oceňovat v pořizovací (historické) hodnotě.
IAS 39.46:
After initial recognition, an entity shall measure financial assets, including derivatives that are assets, at their fair values, …
(c) investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured and derivatives that are linked to and must be settled by delivery of such unquoted equity instruments, which shall be measured at cost (see Appendix A paragraphs AG80 and AG81).
Appendix A
AG80 The fair value of investments in equity instruments that do not have a quoted market price in an active market and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is reliably measurable if (a) the variability in the range of reasonable fair value estimates is not significant for that instrument or (b) the probabilities of the various estimates within the range can be reasonably assessed and used in estimating fair value.
AG81 There are many situations in which the variability in the range of reasonable fair value estimates of investments in equity instruments that do not have a quoted market price and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is likely not to be significant. Normally it is possible to estimate the fair value of a financial asset that an entity has acquired from an outside party. However, if the range of reasonable fair value estimates is significant and the probabilities of the various estimates cannot be reasonably assessed, an entity is precluded from measuring the instrument at fair value.
Proto, podle IAS 39.46.c nástroje budete oceňovat v pořizovací (historické) hodnotě.
IAS 39.46:
After initial recognition, an entity shall measure financial assets, including derivatives that are assets, at their fair values, …
(c) investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured and derivatives that are linked to and must be settled by delivery of such unquoted equity instruments, which shall be measured at cost (see Appendix A paragraphs AG80 and AG81).
Appendix A
AG80 The fair value of investments in equity instruments that do not have a quoted market price in an active market and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is reliably measurable if (a) the variability in the range of reasonable fair value estimates is not significant for that instrument or (b) the probabilities of the various estimates within the range can be reasonably assessed and used in estimating fair value.
AG81 There are many situations in which the variability in the range of reasonable fair value estimates of investments in equity instruments that do not have a quoted market price and derivatives that are linked to and must be settled by delivery of such an unquoted equity instrument (see paragraphs 46(c) and 47) is likely not to be significant. Normally it is possible to estimate the fair value of a financial asset that an entity has acquired from an outside party. However, if the range of reasonable fair value estimates is significant and the probabilities of the various estimates cannot be reasonably assessed, an entity is precluded from measuring the instrument at fair value.