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Interpreting Financial Statements
for Business Acquisitions
A Layman's Guide
This Workbook and software
combination has been expressly created for
the non-financial entrepreneur or executive engaged in
buying or selling Private Companies.
Obtain a
clear and concise understanding of any company's financial strengths and
weaknesses quickly. Ratify opportunities a company represents in minutes
using this unique book and software combination. This combo was created
for non-financial professionals and is based upon experience gained
participating in more than two thousand Private Company acquisitions. It
is written in clear, plain, shirt sleeve English and not accounting jargon or
code that is understood only by members of the "Financial
Circle."
No need to be intimidated
by accounting and finance jargon any longer.
Buying a Cash Business? The
book explains how to determine what the real earnings of any company might be
under your ownership and the "MBA on CD ROM" software makes
"crunching the numbers" easy. Impress your
accountant with the quality Due Diligence review the "MBA on Disk"
software produces. Save the hundreds if not thousands of dollars he/she
would have to charge you for a similar work product. The book and software
enables you to fully understand any company's financial position and maintain
complete control over the Due Diligence process.
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Avoid
Misuse of Advisors
After you complete this guide you will be in a position to use the
financial professional you engage correctly.
Most business buyers do not completely understand how the
relationship between advisor and client should work and as a result
misuse their advisors and, as a result of this misuse, fail to attain
their goal of business ownership.
Perhaps the best way to illustrate the ideal relationship between client
and advisor would be compare the role of a spiritual advisor to that of
an accountant. A young man
approaches his clergyman and asks “Should I marry this woman?”
The clergyman’s only answer is NO.
Why? Simply because
asking such a question indicates that the young man isn’t sure of what
he is doing. If he is not
mature enough to answer the question himself is he mature enough to
handle marriage? That
question has to be answered by the young man himself and is not a
decision that should be shifted to another.
Assume for a moment that you are an accountant or CPA and that
your best friend in the world has just thrust a few tax returns into
your hands and asks: “Should I buy this business?”
Did you feel a chill go up your spine?
The real life accountant certainly would have.
Your fear would be that your friend doesn’t know what he’s
doing. You also are mindful
of the litigious society in which we live.
Your answer to his question eventually would probably be NO. |
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Proper
Use of Your Financial Professional
You should have completed the following tasks
BEFORE you approach your financial advisor:
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Gathered
tax returns, Income Statements and Balance Sheets for the last three
to five years.
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Gained
a comprehensive understanding of company operations
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Performed
comparative Analysis of Income Statements and Balance Sheets
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Developed
a 5 Year Comparative Ratio Analysis
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Conducted
a Gross Profit Test
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Researched
the Company’s Industry and that of its major customers
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Obtained
a full understanding of the opportunity the business represents
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Constructed
a Pro forma of expected Company performance under your ownership.
You
provide your financial advisor with the above material and ask, “Have
I done this correctly and/or have I left anything out?
This guide will facilitate your completion of the above tasks. |
I have finished
reading "The Layman's guide....."
and it was extremely easy to read and understand.
A
Savvy Business Person or an Immature Dreamer?
If you are the advisor wouldn’t you view this client as
obviously being a prepared, serious and savvy business person rather than an
immature dreamer? By employing the
information and principals this guide provides you will not just appear to be a
savvy business person you in fact will be a savvy business person.
One who fully understands the Company’s financial position and the
opportunities the Company represents.
How
much does it cost?
Not as much as
you might think. Your accountant or CPA would certainly have to charge you
several hundred dollars or more to produce the review "MBA on CD ROM"
produces. It is also unlikely your accountant wants to spend the time
required to teach you how to interpret financial statements. Accountants
and CPAs make their living
interpreting financial statements for their clients and not by teaching them how
to do it themselves.
Thanks,
"Interpreting Financial Statements" is just what I have been searching
for,
you would not believe it. I have been looking for a layman's guide for the
longest time.
I have purchased other materials from you and you continue to deliver.
Ron H. Business Advisor
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