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The Economics of Business ValuationTowards a Value Functional Approach$
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Patrick Anderson

Print publication date: 2013

Print ISBN-13: 9780804758307

Published to Stanford Scholarship Online: September 2013

DOI: 10.11126/stanford/9780804758307.001.0001

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PRACTICAL APPLICATION OF THE INCOME METHOD

PRACTICAL APPLICATION OF THE INCOME METHOD

Chapter:
(p.217) 14 PRACTICAL APPLICATION OF THE INCOME METHOD
Source:
The Economics of Business Valuation
Author(s):

Patrick L. Anderson

Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804758307.003.0014

The author focuses in this chapter on the workhorse income approach to valuation. Based on his extensive practical experience, he discusses the essential steps of forecasting future business revenue, identifying income arising from that revenue, and discounting that future income for time and risk. The author argues that, while each of these tasks are important, forecasting business revenue is often the most important.

Keywords:   income approach, discounted cash flow, DCF, weighted average cost of capital, WACC, discounting, forecasting income, subjective adjustments, FCFF, FCFE

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