Cost valuation of special food products safety and quality integrated management systems

Abstract

In order to guarantee the appropriate level of safety and quality of food products, integrated management systems are now actively used. To prevent the emergence of economic problems, to understand the financial value of all the organization's assets, it is important to assess their value, in particular, management systems. Integrated safety and quality management systems of special food products are defined as the object of the research. Their implementation makes it possible to ensure compliance with legislation, increase consumer satisfaction, and business excellence. The main international act regulating methodological aspects of assessment is the International Valuations Standards (IVS). It defines the terminology, procedure of organization, assessment, approaches, methods, reporting of results. It was established that when evaluating integrated management systems, it is recommended to use a cost approach. This is justified by the need to determine the amount of funds to ensure compliance with legislation, meeting the needs of consumers and stakeholders. It is appropriate to use methods of reproduction and substitution. The cost of the mentioned systems of the organization was determined by the method of reproduction, which as of the beginning of October 2023 amounted to UAH 167.6 thousand and UAH 34.7 thousand, respectively. Recommendations for estimating the cost of integrated management systems have been devised. Their main content is the need to take into account the level of changes in the market rate of the currency, in which the value is estimated, the coefficient of moral aging, based on the service life. Their consideration made it possible to estimate the cost of the investigated systems at UAH 144.6 thousand and UAH 30.0 thousand, respectively. This could contribute to more effective management of the organization's resources, investment in financial management systems