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There are many valid ways to value a business. Generally, the appropriate method is chosen based on two factors: 1) are you buying or selling the business, and 2) what data is available
The purpose of the valuations is to determine a company's value in regard to a property settlement with my former husband.
What data should be supplied for a proper valuation?
you would want to have the balance sheet of the business for last 2-3 years (or longer depending on the length of the marriage), a list of the business's assets, a declaration of its liabilities, any outstanding accounts payable, any business that expected to come through in the immediate future
and a general analysis of the trajectory of the business in comparison to other similar businesses and the industry as whole
There is a dispute in regard to the value of the business.
Would it be appropriate to have a valuer have access to bank statements? Or would I be looking at a Forensics accountant?
is this case in court?
Yes. I have a court order for any disputed property to be valued. My ex and I have to agree on a valuer by end of week or each of us may file and Application seeking a valuer to be appointed. The problem is.....
that the Judge is not aware (yet) that several bank statements I have show my ex paying personal debt including mortages from the business accounts (he says he is unemployed). By the way, I am not asking for alimony...just want a fair settlement.
then generally after the valuer is selected the court order will include permission for the valuer to examine the businesses bank accounts and most other business information that normally is considered private.
your lawyer (or you) should make sure the court order includes such directive
typically a forensics accountant is hired for the task though I've seen licensed business valuater that did this
I am self represented in court as I can't afford a lawyer. My ex has a lawyer. I suppose what I need to do if my ex and I can't agree on instructions or a valuer is to file the court application and ask specifically for one of the valuers that have quoted me. But how do I work that I want the valuer to also look at bank statements, etc?
work = word
they typically would otherwise a main component of the financial picture is missing
yes, I agree
you would need to petition the court to include the bank statement specifically in the order
How would I word a request to the court?
It's called a motion. The pro-se clerk in your court generally helps self represented parties to put together such a motion
Okay, thanks for your help.
you are welcome
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