A Basic Guide for VALUING a Company phần 7 pptx

... 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 ... because facilities are as necessary to the operational function as are equipment and other hard assets. However, one should always ap- praise real estate as a stand-alone value, because it can...

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

... 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 hypothetical case ... 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 i...

Ngày tải lên: 14/08/2014, 04:21

... 2001) $ 87, 895 Machinery and Equipment (appraised fair market value) 280,4 07 Office Equipment (appraised fair market value) 5,405 Total Plant & Equipment $ 373 ,70 7 TOTAL ASSETS $ 75 2, 475 Liabilities Current Accounts ... Liabilities 2001 Industry Median 1.8 .8 1 07 13 Valuation of a Restaurant The aroma of good food is hard to beat. My uncle built a chain of 90 smorgasbord res...

Ngày tải lên: 14/08/2014, 04:21

... 41.0% 116 Valuation of a Restaurant At this point, we know that we have a serious pr oblem with financing because total assets less liabilities equal $6 67, 481, and we know that banks want ‘‘collateral’’ ... ex- ists. Seasonality, waxing and waning within lines, makes straightforward forecasting of sales and cost of goods sold inappropriate for major items of sale. Inventories are more...

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 profit...

Ngày tải lên: 14/08/2014, 04:21

... high-quality main- sails, headsails, and spinnakers, the company manufactures six items of boat hardware and two lines of winches. The business has been in opera- tion for nearly 60 years and has had ... separate average accounts receivable and inventory from assets. Inventory turns at a rate of 9.6 times per year, and receivables have an average history of payment within 37. 2 days. In...

Ngày tải lên: 14/08/2014, 04:21

... such assumptions, several other years’ performance should be examined. You can take this assumption for granted in our case. Brief Case History 2 37 real estate, asset replacements, and floor-plan ... present value tables.) In our wholesale case-business, sales and earnings plod ahead slowly but predictably. History reveals that the seller has been accurate in fore- casting each year’s work...

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 ... might accom- plish through arm’s-length negotiations. For all practical purposes, arm’s length simply means that a buyer and a seller are ‘‘free’’ to accept or reject any a...

Ngày tải lên: 14/08/2014, 04:21