Основні Питання Оцінки Вартості Сільськогосподарського Підприємства

Purpose. The purpose of this article is to determine the range of problems that an appraiser faces during the process of the agricultural business valuation and outline ways of their further solution. Methodology / approach. To achieve the purpose, the following methods were used: scientific abstraction, method of analysis and synthesis, method of analogy and comparisons. Results. The valuation of agricultural property is important for strategic planning of the enterprise activity and helps in making key decisions. Properly performed business valuation procedure can increase the enterprise’s value, its investment attractiveness. Agricultural enterprises have a number of peculiarities that do not allow full application of the whole range of methodological approaches and methods used for the evaluation of other business types. The study of economic land valuation methods (on the basis of which a monetary expert valuation is carried out) have shown that in modern market conditions, they need to be improved. Since there are no National Standards for Agricultural Property Valuation in Ukraine, there is a discrepancy between European and Ukrainian terminology of agricultural property valuation when applying to foreign experience. The notions of «agrarian property» and «agricultural property» differ significantly. The main problems of evaluation of agricultural property in the form of an integral property complex are caused by the peculiarities of agricultural business: fluctuations in prices for agricultural products and raw materials, imbalances between supply and demand, the difficulty in substantiating the discount rate and a long-term forecast of cash flows, the absence of a stock market of agricultural enterprises in Ukraine. Originality / scientific novelty. In this article, the classification of problems that arise during the procedure of agricultural property valuation: in the material form and in the form of an integral property complex is proposed for the first time. The justification for the inadmissibility of using generally accepted methodological approaches for the valuation of agricultural real estate and business was further developed. Practical value / implications. The practical value of this article is that the theoretical generalizations obtained by the author will contribute to the formation of a system for assessing the value of agricultural enterprises as one of the elements of the investment market, as well as, could be used in practice, in assessing the value of these enterprises for investing purposes.