«Problems of economics and management of oil and gas complex»

Features of business cost estimation applying the method of cash value added (CVA)

UDC: 336.67
DOI: 10.33285/1999-6942-2022-11(215)-12-16

Authors:

¹ National University of Oil and Gas "Gubkin University", Moscow, Russia

Keywords: results of research work, economically added value, modern methods of business evaluation, oil and gas business, CVA, EVA

Annotation:

The article presents the main results of the research work on the analysis of the methodology applied for a business cost estimation by the method of cash value added (CVA), which is considered an analogue of economic value added (EVA). The study examines not only the methodology, but also the advantages and disadvantages associated with this method application. It should be noted that the necessity of using this approach to evaluation is caused by the increasing complexity and versatility of the contemporary oil and gas business in Russia. Cash value added (CVA) is a modified EVA that uses net operating cash flow instead of profit. Therefore, CVA bypasses the problem of fictitious accounting expense – depreciation. But then there occurs one of the main questions such as how to tie a company's cash flow to its actual financial state in order not to get the bubble effect.

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