2023年上市公司合并成本分摊、商誉、无形资产及估值在合并成本分摊中的作用研究  

Research on the Role of Cost Allocation,Goodwill,Intangible Assets,and Valuation in the Merger Cost Allocation of Listed Companies in 2023

作　　者：张启利 Zhang Qili(China Valuer International Co.,Ltd.,Beijing 100101)

机构地区：[1]中诚君和(北京)国际资产评估有限公司,北京100101

出　　处：《中国资产评估》2024年第12期44-55,共12页Appraisal Journal of China

基　　金：中诚君和(北京)国际资产评估有限公司财报目的估值系列研究成果之一,由张启利执笔2023年度研究汇总,2022年度的研究请参阅《中国资产评估》2023年第10期《2022年上市公司商誉及合并成本分摊研究之评估视角》。

摘　　要：在当前这个并购已成为企业重要发展方式的时代,合并成本分摊(PPA)在会计计量中的重要性愈加突出(其实质是商誉的初始计量)。对评估行业而言,合并成本分摊是财报目的估值的重要业务领域。通过会计师、审计师、评估师的配合,在合并成本分摊环节确认的商誉、识别的无形资产一直是资本市场重点关注的领域,对于揭示并购交易的实质、为投资者提供清晰信息具有重要意义。自21世纪初美国执行141号准则以来,美国会计界和评估界对于合并成本分摊中识别的无形资产、最终形成的商誉等开展了系统研究,相关成果对于理论研究和会计、评估实务有很好的指导意义。国内由于财报目的的评估业务起步较晚、上市公司并购信息披露有限等原因,此领域的研究相对薄弱。本文是继对2022年度上市公司合并成本分摊进行统计分析之后,基于2023年度上市公司公开资料再次展开的研究,按板块、行业以及商誉、无形资产与合并成本、企业价值关系等口径对商誉、无形资产进行研究分析,在客观反映合并成本分摊及商誉确认、无形资产识别实际情况和存在问题的同时,形成国内首份上市公司并购分行业无形资产、商誉与企业价值占比表。作为合并成本分摊工作的重要一环,估值工作以及评估机构在合并成本分摊实务中所起到的作用一直缺乏客观数据的支持,本文亦重点对2023年度上市公司合并成本分摊工作中对估值和评估机构情况和存在的问题进行统计梳理,客观反映、分析当前估值和评估机构在合并成本分摊中的作用。In the current era where mergers and acquisitions have become an important way for companies to grow,the importance of Purchase Price Allocation(PPA)in accounting measurement has become more and more prominent(in essence,it is the initial measurement of goodwill).Through the cooperation of accountants,auditors,and valuers,the recognized goodwill and identified intangible assets in PPA have always been the focus for the capital market,which is important to reveal the economic nature of business combinations and provide clear information for investors.The accounting and valuer in US have systematic research how to recognize and identify the intangible assets identified in business combinations and measure the goodwill,since the FAS 141 issued in the early 21st century.Relevant research papers are good guidance for theoretical research and accounting and valuation practice Based on the analysis of the 2023 annual reports of A-share listed companies in China,this article focuses again on the analysis of new goodwill recogonized and PPA related matters of A-share listed companies follow-up the 2022 research.This article analyzes the goodwill and intangible assets in business combinations based on the relationship between goodwill,intangible assets,acquisition costs and enterprise value,with the different industries and sectors.This paper completed the first ratio table of A-Share listed companies for intangible assets,goodwill and enterprise value in business combinations through providing an objective reflection of the actual situation and problems in the Purchase Price Allocation and the recognition of goodwill,as well as the identification of intangible assets,As the importance of the valuer’s work was not supported by statistic data in the PPA,this paper also focuses on statistical sorting out the situation and existing problems of valuation in the PPA,to analyze the role of valuer in business combinations and f inancial reports.

关 键 词：商誉 合并对价分摊 A股上市公司 无形资产 

分 类 号：F275[经济管理—企业管理]