The Art of Business Valuation : Accurately Valuing a Small Business.

Cover -- Title Page -- Copyright -- Contents -- Foreword -- Preface -- Acknowledgments -- CHAPTER 1 What Is My Business Worth? -- VALUE IS NOT PRICE -- VALUE IS … -- CHAPTER 2 Valuation Basics -- VALUATION IS MODELING -- THREE PRIMARY APPROACHES TO BUSINESS VALUATION -- VALUATION THEORY BACKGROUND -- STANDARDS OF VALUE -- PURPOSE OF THE VALUATION -- PREMISE OF VALUE -- ANALYTICAL FRAMEWORK OF BUSINESS VALUATION -- MECHANICS OF PREPARING A VALUATION -- Professional Judgment -- CHAPTER 3 Why Is Valuing Small Businesses Different from Valuing Larger Businesses? -- IS THIS A BUSINESS OR A JOB? -- CHAPTER 4 Assessing the Subject Company -- DOCUMENTS NECESSARY FOR A BUSINESS VALUATION -- OTHER DOCUMENTS FOR DETERMINING ENTERPRISE VALUE -- QUESTIONNAIRES AND MANAGEMENT INTERVIEWS -- DEAL KILLERS -- EXTERNAL FACTORS AFFECTING THE COMPANY VALUE -- FINANCIAL ANALYSIS -- CHAPTER 5 Normalization of Cash Flows -- NORMALIZATION OF FINANCIAL INFORMATION -- ESTIMATING THE CASH FLOW -- NON‐OPERATING AND ONE‐TIME ADJUSTMENTS -- CHAPTER 6 Market Approaches -- OBJECTIONS TO THE MARKET METHOD -- WEIGHTING THE CASH FLOW -- THE MARKET METHOD: ESTIMATING THE MULTIPLIER -- THE MARKET METHOD: SELECTING THE COMPANY INDUSTRY -- SORTING THE INDUSTRY DATA SET BY CASH FLOW -- ANALYSIS OF SORTED DATA SET -- SELECT BY TRANSACTION TYPE OR NOT? -- SELECTING THE MULTIPLIER -- ADJUSTMENTS TO THE CALCULATED INDICATION OF MARKET METHOD VALUE -- STATISTICS AND THE MARKET METHOD -- CHAPTER 7 Asset Approaches -- ARE ALL ASSETS AND LIABILITIES ON THE BALANCE SHEET? -- CURRENT ASSETS UNDER THE ASSET METHOD -- FIXED ASSETS -- BUILT‐IN GAINS -- INTANGIBLE ASSETS -- LIABILITIES -- CHAPTER 8 Income Approaches -- WHO IS AN "INVESTOR"? -- CASH FLOW FOR INCOME APPROACHES -- CAPITALIZATION OF EARNINGS METHOD -- MORE CASH FLOW CONSIDERATIONS.

Cash Flow Forecasts under the Discounted Cash Flow Method -- CALCULATING A DISCOUNT RATE OR CAP. RATE -- COST OF CAPITAL BUILDUP METHOD (BUM): CALCULATING A DISCOUNT RATE -- CALCULATION OF A CAPITALIZATION RATE -- ESTIMATING VALUE USING THE CAPITALIZATION OF EARNINGS METHOD -- WEIGHTED AVERAGE COST OF CAPITAL -- ESTIMATING VALUE USING THE DISCOUNTED CASH FLOW METHOD -- CHAPTER 9 Valuing Partial Interests in a Business -- LEVELS OF VALUE IN BUSINESS VALUATION -- UNDERSTANDING PARTIAL INTEREST FACTORS -- DISCOUNTS AND PREMIUMS -- Discount for Lack of Marketability -- CHAPTER 10 Goodwill and the Small Business -- CALCULATING GOODWILL -- MUM Method for Goodwill -- CHAPTER 11 Accounting Issues with Small and Very Small Businesses -- CASH, ACCRUAL, AND TAX BASIS STATEMENTS -- OTHER CASH BASIS ACCRUAL TYPE ADJUSTMENTS -- WORKING FROM COST ACCOUNTING OR UNIT DATA -- BALANCE SHEETS -- OTHER ADJUSTMENTS AND CALCULATIONS BASED ON THE BALANCE SHEET -- WORKING CAPITAL -- CONCLUDING THOUGHTS: THE BALANCE SHEET AND VALUE -- CHAPTER 12 Details for Business Valuators -- SELECTION OR WEIGHTING OF METHODS -- CALCULATIONS AND CONCLUSIONS (OPINIONS) OF VALUE -- CALCULATIONS OF VALUE -- VALUATION ENGAGEMENTS -- MEETING CLIENTS' NEEDS -- DETERMINING WHAT MATTERS -- PROFESSIONAL JUDGMENT -- CHAPTER 13 Assisting the Small Business Buyer or Seller -- HOW TO ASK QUESTIONS EFFECTIVELY -- WORKING WITH BUSINESS SELLERS -- ISSUES WHEN REPRESENTING BUYERS -- BUY‐SELL AND RELATED AGREEMENTS -- THE SBA LENDING PROCESS -- BUSINESS BROKERAGE: HOW TO MAXIMIZE A PRICE -- Business Information Inventory Request -- General Questions &amp -- Market Position -- CHAPTER 14 How to Review a Business Valuation -- WHERE ESTIMATES OF VALUE GO WRONG -- CHAPTER 15 Final Thought -- About the Website -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.