FAQ

Our principals are all seasoned business professionals with different operating backgrounds. We combine the theoretical tenets of our profession with the real practical application that only comes with hands-on experience working inside the same types of companies we help today. As a client, you also have access to the principals of the firm regularly – we do the work and will have intimate knowledge of your situation as we assist in customizing a solution that works for you.

Typical information required to start a business valuation includes up to five years of financial statements and tax returns; any budgets or forecast prepared by the company; information about the industry and market the company operates in; detail on specific line items which will depend on the type of business and how it is run on a day-to-day basis. Many times, the scope of the project will dictate whether more or less detail is needed. For example, litigation related projects tend to have more detailed information requests, including general ledgers and related supporting documentation. On the other side, if we are consulting and not providing a formal opinion of value, we will most likely need less information. We welcome the opportunity to discuss your specific needs and develop a customized approach to create a very unique solution.

In most cases,  we are hired directly by you; however, the introduction to our services is made possible by your (or friend who is an) accountant, attorney, boards of directors/advisors, other business owners, CFOs, controllers, estate executors, exit planning professionals, financial planners, bankers, private equity groups, and venture capital groups.

For tax-related valuations, such as gift or estate tax, we can work directly with the client’s trusts and estates (T&E) attorney to begin the process of identifying what is being appraised, the date of the valuation, and the purpose.  We then work directly with the company’s owner/accountant/CFO and controller.

Nothing significant, although evaluation is not a commonly used term, all of the terms have been used interchangeably. The more commonly used terms are appraisal or valuation – in short, it is the act or process of determining the value of a business, business ownership interest, security, or intangible asset.

Professional designations and experience are some of the most important factors to consider in selecting a business appraiser. It is not common knowledge of what it takes to be competent at appraising businesses, especially smaller, privately owned ones.

Some professional designations are more challenging to obtain than others. And while there are various designations available to professionals, the amount of experience in the profession and the amount of time spent doing valuation is just as significant, if not more, in some instances.