A Basic Guide for VALUING a Company phần 8 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

... several past years’ actual cash flow. Are several past years’ performances adequately consistent with the sample year used, and has there been adequate cash to accommodate any down year? What’s ... 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 .....

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 ... expense and tax liabilities. Some professionals maintain ‘‘informal’’ records with regard to advance fees that necessitate the eval- uator’s examination. Accrued and deferred balance sheet a...

Ngày tải lên: 14/08/2014, 04:21

... Liabilities 2001 Industry Median 1 .8 .8 107 13 Valuation of a Restaurant The aroma of good food is hard to beat. My uncle built a chain of 90 smorgasbord restaurants. Ray Kroc built McDonald’s. Although both had formal ... 2001) $ 87 ,89 5 Machinery and Equipment (appraised fair market value) 280 ,407 Office Equipment (appraised fair market value) 5,405 Total Plant & Equipment $ 37...

Ngày tải lên: 14/08/2014, 04:21

... with financing because total assets less liabilities equal $667, 481 , and we know that banks want ‘‘collateral’’ to make loans. We also know that banks don’t like to finance restaurants. In addition, ... 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 apt to co...

Ngày tải lên: 14/08/2014, 04:21

... so many irregularities year to year, provides an ideal example of where ratio study can prove especially useful to an overall analysis. Although it is clear that a financial problem more than likely ... this premise and proceed with the analysis. Also, in making this assumption, we would not ordinarily calculate a weighted average cash stream. Ratio Study Financial experts will not always...

Ngày tải lên: 14/08/2014, 04:21

... industrial area. Five small manufacturing plants are within reasonable walking distance and afford the owner a 60% windfall gross profit on approximately $1 58, 000 of sales from the store’s no-table-service ... be high as viewed by the bank. Financial Analysis 175 Once again it should be noted that ratios for net profit, before and after taxes, can be most useful ratios. But the fact that...

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

... amalgamation used herein for ‘‘backing into’’ another estimate of value will not be found in any other text. It took several years to develop a mathematical model that resembles what buyers and ... 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 worki...

Ngày tải lên: 14/08/2014, 04:21

... 216–2 18, 219 for marinas, 246–249, 283 – 288 net multipliers and, 56– 58 for professional practices, 81 82 for restaurants, 115–121, 123 for retail businesses, 149–155, 157, 167–169, 181 – 187 for small manufacturers, ... 51 for mail-order companies, 214, 219 for marinas, 243, 281 , 288 reconstructing balance sheets in, 213 for restaurants, 112, 123 for retail business...

Ngày tải lên: 14/08/2014, 04:21