A Basic Guide for valuing a company phần 3 ppt

... comparability? Comparable value is an appraisal term, and I maintain that business valuators are not really a part of that fine organization called the appraisal society. True, business valuators ... Valuation 71 Chapter 12 Small Manufacturer Valuation (With Ratio Studies) 87 Chapter 13 Valuation of a Restaurant 10 7 Chapter 14 Seventy Cents on the Dollar 12 4 Chapter 15 Retail Home...

Ngày tải lên: 14/08/2014, 04:21

... ratios, and compare applicants with industry stan- dard performances. Larger commercial banks have wonderfully arrayed comparable data banks, and, of course, they also have reams of internal case ... wise to calculate the new equation of debt and salary into several past years’ actual cash flow. Are several past years’ performances adequately consistent with the sample year used, and has there...

Ngày tải lên: 14/08/2014, 04:21

... so. Many pro- fessionals requir e ‘‘advances’’ against futur e work. These also may not appear on the balance sheet and may be accounted for on infor mal doc- uments that ar e maintained separately ... understand basic accounting and 60 Valuation Techniques the valuation of cash streams. And payback is the measurement criteria for value and pricing overall. Having completed our hypothe...

Ngày tải lên: 14/08/2014, 04:21

... Earnings $ 116, 346 106 Small Manufacturer Valuation Earnings Addition 2002 251, 842 24, 410 2003 276,252 24, 410 20 04 300,662 24, 410 2005 325,072 24, 410 2006 349 ,48 2 24, 410 Assuming that we had ... 181, 946 $ 1 74, 948 2002 1 74, 890 161,179 149 ,019 2003 159,868 141 ,44 3 125, 741 20 04 144 ,995 123,172 105,270 Plus 783,8 34 532,687 379,389 Estimated Value $1 ,45 3,1 14 $1, 14...

Ngày tải lên: 14/08/2014, 04:21

... 4 .5% 4 .5% 4 .5% Risk Premium on Personal Management 1 7 .5% 14 .5% 22 .5% Capitalization Rate 20.0% 27.0% 35. 0% Earnings Multipliers 5 3.7 2.9 1 These rates are stated purely as examples. Actual rates ... considerably bleaker than that. We are a proud people in general, and most of us take pride in paying our bills. 110 Valuation of a Restaurant Bank Ser. Charges 1,4 75 2 ,51 4 9...

Ngày tải lên: 14/08/2014, 04:21

... analysis. Also, in making this assumption, we would not ordinarily calculate a weighted average cash stream. Ratio Study Financial experts will not always agree as to which ratios are particularly germane ... little meaningful information from these ratios applied to smaller businesses. Therefore, these ratios are not included. Balance sheet data necessary for calculating certain ratios...

Ngày tải lên: 14/08/2014, 04:21

... $ 7, 750 $ 7, 750 $ 7, 750 $ 7, 750 TOTAL ASSETS $443,131 $4 37, 8 87 $414,6 97 $411, 573 Liabilities Current Liab. Notes $ 26,250 $ 9 ,74 0 $ 14 ,74 0 $ 9,400 Acc. Payable 17, 473 12,088 18,120 19, 370 Taxes ... It’s all in the economics of supply and demand andsupply and demand are always major ingredients in es- timating business value. Financial Analysis 191 Ratios for net profi...

Ngày tải lên: 14/08/2014, 04:21

... building containing first-floor production space and a sail-making loft. In addition to high-quality main- sails, headsails, and spinnakers, the company manufactures six items of boat hardware and two ... expense for full-color catalogs from L. L. Bean and Sharper Image, for example, would make you shudder and question how these sorts of companies can make any money at all. Granted, whe...

Ngày tải lên: 14/08/2014, 04:21

... 41,278 Disadvantage Value $1 49, 024 Subsequently, we can generally draw an assumption that the former value estimate needs to be disadvantaged (reduced) by $1 49, 024 (say $150,000), to accommodate purchase ... years ( 19. 3%) ($2,844) ס $5 49 per month at 10 years Using an ‘‘Equal Monthly Loan Amortization Payment’’ table, locate the page containing 10%, and 5 years, and then 10 years. We...

Ngày tải lên: 14/08/2014, 04:21

... possesses intimate marketplace awareness, these estimates for fair mar- ket value can quickly become ruled by the numbers game. As a rather too *Alchemy A medieval chemical science and speculative philosophy ... the 274 Appendix A Valuation of a Marina Author’s Responses Until a business actually sells, there are no right or wrong answers as to its value; there are only estimates...

Ngày tải lên: 14/08/2014, 04:21

... Method 61 Prelude to Case Examples of Small-Business Valuation 69 Chapter 11 Professional-Practice Valuation 71 Chapter 12 Small Manufacturer Valuation (With Ratio Studies) 87 Chapter 13 Valuation ... a business that was sold at arm’s length). This book is a companion to A Basic Guide for Buying and Selling a Company. And as with its companion, that ‘‘rascal’’ perception m...

Ngày tải lên: 14/08/2014, 09:20

... loan review process, bankers do conduct financial anal- yses, calculate operating ratios, and compare applicants with industry stan- dard performances. Larger commercial banks have wonderfully arrayed comparable ... one year’s cash flow. For additional consideration by the buyer, it might be wise to calculate the new equation of debt and salary into several past years’ actual cash flow. Are se...

Ngày tải lên: 14/08/2014, 09:20

... an adjustment to fair market values may be appropriate for the purposes of practice valu- ation. Leasing, rather than owning, the occupied real estate can be an im- portant consideration in valuing ... reconstructed cash flow available is $75,000 before debt service, depreciation, and owner withdrawal. Hard (tangible) assets amount to $60,000 fair market value. Institutional financing is av...

Ngày tải lên: 14/08/2014, 09:20

... profit. a. Debt service $ 147 ,119 divided by $2 04, 639 equals 71.9%. 92 Small Manufacturer Valuation Financial experts will not always agree as to which ratios are particularly germane to the small and ... than the values they hold in these hard assets. We knew from initial review of the balance and income statements that this plastics manufacturer had an added overall intangible value tha...

Ngày tải lên: 14/08/2014, 09:20

... Unemployment 5, 5 85 6,9 05 6, 755 Excise/Registration 620 7 65 6 75 Real Estate 10, 855 10,6 85 12,3 15 Total Taxes $ 31,340 $ 32 ,52 5 $ 32 ,56 0 Rental Income Plaza Shops $ 12,000 $ 12,000 $ 12,000 Mini-Storage ... $ 8 45, 000 Bank (10% ן 15 years) Amount $ 350 ,000 Annual Principal/Interest Payment 45, 133 Seller (8% ן 5 years) Amount $3 85, 000 Annual Principal/Interest Paymen...

Ngày tải lên: 14/08/2014, 09:20