Corporate Valuation Professional

Create in-depth and supportable business valuations and appraisal reports in less time with fewer hassles.

You can use CVPro and the companion data products to prepare a business valuation, evaluation, appraisal, or opinion of value for just about any purpose including:

• To support decisions in the areas of personal financial planning, asset protection, and the disposition of a business interest (e.g., selling shares to a third party or ESOP; purchasing shares; structuring a buy-sell agreement; obtaining life insurance; prepare personal financial statements; satisfying the desire to know the value of their business; determining the value of a charitable contribution; estate and gift tax matters; and as part of a legal or administrative controversy).
• To support corporate financial decisions and protect the interests of the company (e.g., sale, merger, acquisition or divestiture; tracking the value of the company; taking the company public (IPO); obtaining business financing; recapitalizing the company; creating an ESOP; dissolving a corporation; reorganizing under bankruptcy laws; as part of a legal or administrative action).
• Any purposes with emphasis on estate planning, inheritance tax, feasibility or installation of an ESOP, buy-sell agreements (with or without life insurance,) property taxes, and charitable contributions.
• Matters before a court, administrative body or regulatory agency (business and personal).

Business brokers and advisors can use CVPro to advise clients on matters of business value, obtain qualified listings and engagements, prepare fact-based selling memoranda, analyze a buyer’s offer, and close deals.

If you need business valuation AND the ability to price, structure and create a financial blueprint for a business sale, merger or acquisition, MoneySoft’s DealSense® Plus gives you the power of CVPro plus M&A analysis.

CVPro is a Complete System for Reliable Valuations

CVPro gives you everything you need to analyze a company, estimate future earnings, select appropriate risk and investment rates and prepare an understandable, fully documented business valuation report that can be edited in Microsoft Word:

Financial Statement Normalization & Insightful Analysis

CVPro gives you a comprehensive approach to collecting, normalizing (re-casting or adjusting) and thoroughly analyzing the historic performance, present position and trends within the financial structure of the business to be valued. Business ratios, common-size statements and industry comparison analysis using both RMA and Integra formats are calculated based on both historic and normalized data. Specialized analytics also provide insights not available in any other valuation software.

A Powerful Engine for Preparing Financial Projections

CVPro offers you the most robust system available in any business valuation program for developing and analyzing detailed financial projections, which are critical when using the Discounted Future Earnings method.

With CVPro you can create fully linked projected Income Statements, Balance Sheets, Statement of Cash Flows and Statement of Retained Earnings for up to 10 years. You have control over every line-item assumption and have the option to create monthly projections for 2 years.

Business Valuation Using ACCEPTED Methods

CVPro contains the business valuation approaches and methods you need to value C-Corporations, S-Corporations, LLC’s, Partnerships and Sole Proprietorships. CVPro guides you through the process of developing and applying Discount and Capitalization Rates and arriving at a supportable conclusion of value. A “reality-test” is included to make sure that the selected value makes economic sense to a theoretical buyer.

Intelligent Report Generation

CVPro includes a FREE “intelligent” report writer that automatically generates and formats a well-documented business valuation report or appraisal that can be easily edited and customized in Microsoft Word.

Business valuation professionals can use the on-board report builder to create a detailed report that contains all of the elements for IRS 59-60 and the AICPA’s new Statement on Standards for Valuation Services No. 1.

Immediate Electronic Delivery Available

The most current version of this product is available via download.

Valuation is a serious business. If you’re looking for an equally serious valuation tool that will save you time and money preparing supportable and credible business valuations and appraisals, then you’ll want to try Corporate Valuation Professional today!

Try it risk-free by May 17, 2012 for just $595 and save $100.
(Retail: $695)

Detailed Specifications

Insightful Financial Analysis

CVPro includes the metrics you need to assess the financial performance of a business using both historic and normalized (recast or adjusted) financial statements.

• Flexible chart of accounts allows you to mirror the target company’s financials and accommodates up to 10 years of historic Income Statement and Balance Sheet data and supporting information.
• Interim financial statements can be entered, adjusted and annualized. You have the option to use Interim Balance Sheet data in the valuation methods. This gives you the flexibility to use either the Interim or Year-End data depending upon which one is most appropriate given the valuation assignment.
• Statements of Cash Flows, Retained Earnings and Sources & Uses of Funds are calculated automatically.
• Easily make “normalization” adjustments for any account and for any historic period. Eliminate the effects of excessive, discretionary, personal, non-operating, deferrals, and non-recurring items to reflect the true economic condition of the company. Normalized (recast) financial statements are presented along with an Earnings & Net Cash Flow Summary that highlights the bottom-line effects of all adjustments.
• Explanatory notes can be made to document and track adjustments.
• Common-size Income Statements and Balance Sheets as well as 33 common financial ratios that measure liquidity, coverage, leverage and profitability are automatically calculated.
• Performance can be compared to the specific industry based on standard Risk Management Association’s (formerly Robert Morris Associates) Annual Statement Studies format.
• Performance can also be compared using Integra Information’s 5-Year Industry data for common-size statements and 60 ratios.
• Z-Score Model measures the probability of the target becoming insolvent within the next 12 months. This widely used model helps assess economic viability.
• Sustainable Growth Model measures the maximum growth rate of sales that is sustainable without depleting financial resources. This helps determine whether revenue growth assumptions are in line with profit margins, dividend payout, asset turnover and financial leverage assumptions, both before and after the transaction.
• DuPont Analysis to help identify whether changes in ROE are being driven by Sales Margins, Asset Management or Financial Leverage.
• The MoneySoft Five-Minute Diagnostic™ provides a snapshot of a company’s footing and highlights the factors that are driving or dragging its performance based upon financial statement data.

A Powerful Engine for Preparing Financial Projections

CVPro allows you to prepare a set of fully linked, line-item projections of the Income Statements, Balance Sheets, Statements of Cash Flows, Statements of Retained Earnings and Sources & Uses of Funds. Projections can be prepared on a monthly and annual basis.

• Fully linked, line-item projections of the Income Statements, Balance Sheets, Statements of Cash Flows, Statements of Retained Earnings and Sources & Uses of Funds are created for 1 to 10 years
• Detailed monthly financial projections for up to 24 months.
• Income Statement projection options include regression trend-line, historic average growth, manual constant growth, historic percent of sales, variable growth rates, manual percent of sales, manual dollar value inputs, or create your own custom links.
• The base projection amount for each Income Statement account can be adjusted as needed.
• Projected income taxes are estimated based on corporate tax tables or effective tax rates. A Tax Reconciliation Worksheet allows for application of adjustments to taxable income and credits to Federal, State, Local and other taxes.
• Net Operating Loss carry-forward is automatically deducted as projected income permits.
• Common Dividends are calculated as a percent of net income and Preferred Dividends as a percent of the preferred stock balance, or enter dividends manually.
• Accounts Receivable, Inventory and Accounts Payable can be projected using historically calculated turnover ratios, manual turnover ratios or dollar amounts.
• The amount of Fixed Assets required to sustain revenue growth is estimated. Assets can be purchased and disposed of in any projected year. The effect of asset purchases and disposals is automatically calculated along with depreciation using straight-line or accelerated methods.
• Fixed asset purchases can be financed, in whole or in part, during any projected year with changes to the projected financial statements calculated automatically.
• Short-term and long-term notes are amortized with flexible payment options controlled by the user including normal amortization or direct reduction, interest and principal deferrals and balloon payments that are calculated automatically.
• A/R, inventory and cash maintenance revolvers can be set to maintain desired cash balances in the projected balance sheets.
• Goodwill and other intangibles are amortized over any term.
• Key income statement and balance sheet figures are summarized and presented for each projected year.
• Includes summary of depreciation and loan amortization items.

Business Valuation Using Accepted Methods

CVPro includes the methods and approaches necessary to prepare a supportable valuation. Valuation is examined from several perspectives using professionally accepted valuation methods.

The valuation guidance and approaches were designed in collaboration with PPC’s Guide to Business Valuation, edited by Dr. Shannon Pratt and other highly regarded valuation experts.

CVPro provides a thoughtful and logical guide through the valuation process. You can examine a company’s value using over 25 different methods in order to arrive at a supportable conclusion of value. You select the valuation method(s) that are appropriate and want to include in your valuation report or appraisal.

Asset Valuation Methods:

• Net Asset Value
• Liquidation Value

Income Valuation Methods:

• Capitalization of Earnings
• Discounted Future Earnings
• Discounted Cash Flow
• When determining discount and capitalization rates, you have the option to use either the Build-Up method or the Capital Asset Pricing Model (CAPM) method. If you are valuing the company on a debt-free basis, you can convert the discount and capitalization rates to their debt-free equivalents based on the company’s weighted average cost of capital.
• In valuing the company’s historic and/or future earnings, you can use any of the following: Normalized Net Income, EBT, EBIT, EBITDA, Net Cash Flow and Free Cash Flow.

Market and Comparable Company Valuation Methods:

• Price to Earnings using Done Deals/Completed Transactions database (uses Net Income), Pratt’s Stats (uses Net Income and EBT), Mergerstat database (uses Net Income) and/or a User defined option.
• Price to Revenue using Done Deals/Completed Transactions database, Pratt’s Stats (using both Equity Price & Deal Price), BIZCOMPS database and/or a User defined option.
• Price to Cash Flow from Operations (using Done Deals/Completed Transactions).
• Price to Gross Cash Flow using Pratt’s Stats and/or a User defined option.
• Price to Discretionary Earnings using Pratt’s Stats and/or BIZCOMPS.
• Price to Dividends (User defined).
• Price to Net Asset Value.
• Price to Total Assets (using Done Deals/Completed Transactions)
• Price to Equity using Done Deals/Completed Transactions, User defined on Book Value, User defined on Net Asset Value, Deal Price to EBIT (using Pratt’s Stats) and/or Deal Price to EBITDA (using Pratt’s Stats).

Other Valuation Methods:

• Capitalization of Excess Earnings.
• Multiple of Discretionary Earnings.
• Preferred Stock valuation based upon the market yield of preferred stock from comparable companies.
• CVPro gives you the option to apply Control Premiums, Minority Discounts, and Marketability Discounts as well as the ability to value partial interests.
• Control Premiums, Minority Discounts, and Marketability Discounts can be applied to each individual valuation method or in the valuation conclusions.
• A valuation summary lists each method used and the respective value, which can be weighted and averaged to arrive at a total equity value.

Supportable and Reasonable Valuation:

• An “economic reality test” of your conclusion of value is included. You set hypothetical purchase terms including the amount of equity and the required return, and the amount and payment terms of up to four levels of acquisition debt. A “real time monitor” gives you instant feedback.
• Key measures of operating performance and Return on Investment performance for the hypothetical transaction terms are provided as part of the economic reality test.
• Also included are flexible Rules of Thumb that allow you to use any combination of multiples of earnings, assets, and user-defined multiples to determine the reasonableness of the values indicated by the other methods.

Professional-valuation and appraisal reports

• CVPro includes the MoneySoft Financial Report Builder that links the numeric analysis with a pre-formatted report and narrative that automatically documents the analysis for you using Microsoft Word. You can use the on-board report builder to create a detailed report that contains all of the elements for IRS 59-60 and the AICPA’s new Statement on Standards for Valuation Services No. 1.
• The Financial Report Builder is “smart” enough to know what analysis you actually performed and describes the results of the analysis. Both the templates and generated reports are fully customizable using Microsoft Word. This eliminates the need for re-keying information or cutting and pasting.
• CVPro contains over 100 supporting schedules that can be printed individually or in user-defined batches.
• Print controls include page orientation, headers and footers, scaling (print-to-fit), and much more.
• The Graphing function generates pre-formatted graphs and updates them as your data changes.

Valuation is a serious business. If you’re looking for an equally serious valuation tool that will save you time and money preparing supportable and credible business valuations and appraisals, then you’ll want to try Corporate Valuation Professional today!

Comparison of MoneySoft Business Valuation Software Systems

PDQ Value™ and Corporate Valuation Professional™ (CVPro) both follow the same track for a supportable analysis and valuation. The difference is in the depth and scope of the analysis and available valuations methods. This matrix illustrates the differences and similarities between the two systems:

Normalize and Insightfully Analyze Historic Financial Statement Data	PDQ Value	CVPro
Flexible Chart of Accounts for Financial Statement accommodates up to 10 Years of Data
Input & Adjust Interim Financial Statements
Annualize Interim Statement
Presents a full set of normalized (re-cast) Financial Statements including Income Statement, Balance Sheet, Statements of Cash Flows, Retained Earnings, Sources & Uses of Funds, and Summary of Earnings & Cash Flow
34 Business Ratios & Summary Common-Size Statements using Normalized Data
RMA Ratio & Common-Size Comparison using Normalized Financial Data
RMA Ratio & Common-Size Comparison using Historic Financial Data
Detail Common-Size Statements using Historic Financial Data
Integra Information 5-Industry Data Comparison for both Historic and Normalized Data
DuPont Analysis with Account Detail
Sustainable Growth Rate with Account Detail
Z-Score Bankruptcy Predictor with Account Detail
MoneySoft Proprietary 5-Minute Diagnostic Analysis
Optional Industry Financial Benchmarking Data	PDQ Value	CVPro
Risk Management Association’s (RMA) Annual Statement Studies®
Integra 5-Year Industry Data
Financial Projections Based on Current Ownership & Management	PDQ Value	CVPro
Detailed Annual Projections for up to 10 Years.
Detailed MONTHLY Projections		24 months
Complete Control over each Account Line-Item Assumption
Projected Fixed Asset Disposals, Purchases and Capital Expenditure Financing	Annual Only	Annual & Monthly
Built in error trapping for monthly / annual account balancing
Tax Reconciliation Worksheet for a more accurate estimate of income tax expense
Valuation Approaches & Methods	PDQ Value	CVPro
The valuation procedures conform to the rigid standards of Practitioners Publishing Company’s (a Thompson Reuters Company) Guide to Business Valuations authored by Shannon P. Pratt, Jay E. Fishman, J. Clifford Griffith, D. Keith Wilson and Stanton L. Meltzer, recognized leaders in the field of business valuation.
Auto-generates Customizable Fair Market Valuation Report
Available Number of Valuation Methods	10	29
Control Premiums, Minority Discounts & Marketability Discounts
Ability to value Preferred Stock and Partial Interest
Option to apply “Mid-Year” Discounting Convention on DFE and DCF
Available Discount Rate Methods Include: Capital Asset Pricing Model (CAPM), Build-Up Method and/or Manual Input.
“Reality Check” of selected value (includes Rule of Thumb)
Optional Valuation Databases	PDQ Value	CVPro
Done Deals®/Completed Middle-Market Transaction Data
Mergerstat Control Premiums & Industry Price/Earnings Data
BIZCOMPS® Small Business Valuation Data
Available Reports	PDQ Value	CVPro
Valuation Report incorporating AICPA Statement of Standards for Valuation Services No. 1
Number of Printable Supporting Schedules	98	150+

PDQ Value includes many of the same analysis and business valuation methods Corporate Valuation Professional™, which is MoneySoft’s practitioner-level program and is highly recommended if you need to prepare valuations for tax and legal matters in addition to business planning.

Financial Benchmarking and Valuation Data for Private Companies

In addition to specialized software, MoneySoft provides a suite of information products for financial statement benchmarking and valuation data products. Data from the following products can be directly imported into DealSense Plus and Corporate Valuation Professional.

RMA Annual Statement Studies

RMA Annual Statement Studies™ is the leading, most current source of reliable performance statistics for small and medium-size businesses.

Integra 5-Year Industry Data Report

With this report you can obtain valuable intelligence about industry financial trends that may impact your performance by analyzing five years of historical financial statements, ratios and growth rates.

Done Deals

Completed Transactions is the most comprehensive database of completed mid-market merger and acquisition transactions. The database provides hard-to-find details on actual merger and acquisition transactions for private and public mid-market companies.

BIZCOMPS

BIZCOMPS is perfect for the business buyer or valuation analyst that needs comparable sales data on smaller business transactions. The average selling price of these businesses is approximately $257,000 per business.

MERGERSTAT

The Mergerstat Database provides valuation statistics crucial for analysis and decision making. Transactions are divided into 50 industry classifications allowing quick valuation of a company based on industry average P/E ratios, control premiums, industry composites and thumbnails.