Therefore, in order to streamline business valuation, there is a need to develop a synthetic and universal yet consistent methodology for the valuation of basic parameters. This also requires the implementation of appropriate regulations or standards concerning the generally accepted methods of business valuation since, depending on the subjective choice of the method by the appraiser, significant differences in the final valuation may be observed with low values of the company [26]. The related works appeared due to the association of a group of specialists and practitioners. One of the tangible results of efforts to eliminate a number of risks is the announced New Interpretative Note No 5General Principles of Business Valuation [27]. Despite a large number of ways of carrying out valuations and with the high quality of analytical work at the valuation, it should be remembered that a business is worth as much as someone is willing to pay for it. On the other hand, good and factual valuation is essential for preparing oneself for substantive discussions with the buyer. Within the framework of this paper, the essence, objectives and functions of business valuation were determined and the overall classification of valuation methods applied in the practice of economic life was made.

subject: Evaluation

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