Expertness and valuation in the world/ Znalectví a oceňování ve světě

From both the theoretical and practical points of view, assets valuation is a very complex issue. It significantly influences the quality of the accounting data on the financial situation of a company and its profit. Intentional overvaluation increases corporate earnings, while underestimating allows to decrease the profit, thus influencing the tax base or the profit in the eyes of the competitors or share holders. These facts mean that the methods of the individual assets items valuation are governed by legal regulations. The contribution focuses on clarification if the difference between expertness and valuation, to which certain applicable international valuation standards belong, and which, within the individual states, may be carried out by organizations created for that purposes. One of the most important parts of property valuation is property valuation, which is also addressed in the article from the perspective of selected European countries.