Calculations in the Marine industry

Administrative expense = (material expense + equipment expense + labor expense + production expense) x average administrative expense rate

= (60541000 + 37665245 + 31849000 + 14704890) x 3%

=4,342,804(yuan) (rounded to units)

Period expense = Financial expense + administrative expense =3,148,533+4,342,804=7,491,337(RMB)

7. Taxes and profits

Ship tax mainly refers to value-added tax. Since the value-added tax of purchased raw materials and equipment can be deducted, the actual value-added tax payable is only the cost part, and the value-added tax rate is 13% according to the latest tax policy. Ship manufacturing is a labor-intensive enterprise, the production cycle is long, the profit margin is often not high, according to the ship market supply and demand relationship and other factors to determine the general 3%-5%, the value of this assessment is 4%.

Tax =(labor cost + special production cost + administrative cost + financial cost)÷ (1+ VAT)× VAT

= (31849000 + 14704890 + 4342804 + 3148533) present (1 + 13%) x 13%

=6,217,592 yuan (rounded to the ones place)

Profit = (direct cost + period expenses) x cost margin

= (144,760,135+7,491,337) x 4%

=6,090,059 (Yuan)

Tax and profit

=6,217,592+6,090,059=12,307,651 (RMB)

8. Replacement price of ship

Vessel replacement price = direct cost + period expenses + profit and tax

= 144760135 + 7491337 + 12307651

=164,560,000 (Yuan)

9, the new rate of ships

The new rate is mainly divided into years method and on-site observation method. In the evaluation practice, the weighted arithmetic average method is generally used to obtain the comprehensive new rate as the ship's new rate. This evaluation assigns 40% proportion to the new rate of the age method and 60% proportion to the new rate of the on-site observation method, then

Comprehensive new rate = years method new rate ×40%+ on-site observation method new rate ×60%=60%

10. Assess the value

Ship's assessed value = ship's replacement price × ship's replacement rate

= 164560000 x 60%

=98,736,000 (RMB)

Iv. Conclusion

Replacement cost method has obvious advantages and disadvantages in the practice of ship value assessment. The advantage is that as a product with greater construction difficulty, ship construction value has a more scientific and refined assessment. However, this method also has obvious disadvantages, because the ship itself is greatly affected by the market economic environment, this method cannot fully reflect the price of the ship market. Therefore, in determining the final value of the ship, the evaluator should also consider the influence of market economic factors.