Stanovenie reálnej hodnoty derivátových kontraktov
DETERMINING THE FAIR VALUE OF THE DERIVATES CONTRACTS

Summary/Abstract: Harmonization of Slovak legislation for the conditions of the European Union brings a longs full variety of changes in understanding some economical and financial categories. One of them is the process of objectivisation the value of assets and liabilities for actual value, i. e. determining the fair value. Intro-financial theory there were presented many times the approaches, which can quantify relatively exactly and with the sufficient time advance the change of value of shares, bonds, event. Other kinds of securities under the thumb of change of some market variable. But implementation of these approaches requires the research of background, accessibility of qualitative and certain information, but also the adequate knowledge base about the crucial factors of success. The situation obtaining on out financial market doesn’t enable full utilization of all methods and tech-niques of evaluation the financial instruments. But there is need of positive appreciation of the consistent improvement, mainly in the area of the information flow between com-panies and the subjects of the economical background.Fair value of the financial instrument complexly deposes about sense of the entity, actual and potential effects brought by its holding. Subjectivity of understanding of bene-fits of the financial instrument can guide the evaluator (expert, accountant, auditor, fi-nancial analytic) to different conclusions. In favour of maintenance of objection and con-tinuity in evaluation there is recommended using the generally accepted methods based on fair value of the financial instrument, estimation using the specific valuation model (e. g. with evaluation of the derivate contracts), in excessive case coming out the histori-cal value. Final interpretation of the acquired results must overshoot in context of entered input values, by which is eliminated the influence of consecutive change of the market variab-les to the fair value of the financial instrument. It is recommended for evaluator, in be-half of the demonstrativeness of the accounted fair values, to define exactly conditions, which determined his opinion.

• Details
• Contents