Report Options

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Detail (Comprehensive) Report

Content Outline

• Transmittal Letter
• Table of Contents
• Engagement Introduction
• Description 

                  - Purpose & Intended Use 

                  - Standard & Premise 

• Scope-of-Work
• Sources of Information
• History of Operations:

                  - Earnings & Trends

                  - Growth -v- Market

                  - Contracts

• Business details:

                  - Physical Locations

                  - Workforce impact

                  - Levels of Ownership

• Economic Outlook & Risk
• Industry Outlook & Risk
• Financial Analysis:

                  - Cash & Receivables

                  - Working Capital

                  - Capital Asset Investments

                  - Payables & Accrued Debt

                  - Long-Term Debt 

• Normalization 
• Risk Analysis:

                  - Risk examination explained

                  - CAPM / Build-Up / WACC

• Valuation Methods selected 
• Valuation Methods explained
• Valuation Adjustments
• Reconcilation & Conclusion-of-Value explained 
• Exhibits:

                  - Historical & Normalized

                     Financial Statements with

                     Common-Sized Statments

                  - Comparable Companies

                  - Other Key Data             

• Appendix

                  - Certification of Analyst

                  - Assumptions & Limiting

                     Conditions

                  - Qualifications of Analyst

                  - Glossary

Summary (Restricted) Resport

Content Outline

• Engagement Introduction
• Intended Users of Value
• Description of Purpose & Interest
• Scope-of-Work
• Sources of Information
• Overview of significant external Influences
• Financial Overview and Normalization
• Approches & Methods
• Conclusion-of-Value
• Exhibits
• Appendix

                  - Certification of Analyst

                  - Assumptions & Limiting

                     Conditions

                  - Qualifications of Analyst

The work performed to achieve a Conclusion-of-Value is the same regardless of the type of Report  (Detailed or Summary) prepared.

The Summary Report does not include various explanations of the work performed nor does it include many of the schedules and exhibits which are maintained in the analyst's work papers and included in a Detailed Report.