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Reliable valuations and financial models are crucial for your success. Benefit from our comprehensive corporate finance expertise and services based on best practice.
We support you with our recognized corporate finance expertise, our many years of experience in valuation matters and our profound skills in financial modeling. This makes us your ideal partner to master the challenges associated with demanding corporate finance topics — regardless of industry and context. We value excellence and strive to exceed your expectations every step of the way. Because we apply the highest quality standards and current best practice to every valuation and financial model, you can be confident that you are making informed strategic decisions that maximize business value.
You gain efficiency and assurance by standardizing your operational investment processes and supporting them with our tailor-made management tools. Benefit from our expertise in the development of model solutions for a methodically sound and efficient assessment of your investment projects. By developing a financial business case, you create a solid basis for decision-making and ensure successful project implementation for transactions and transformations. You can also use our individually developed tools for business plans, budgeting and forecasting as well as investment controlling to significantly improve the quality of your decisions. We ensure that the analysis results are prepared in a way that is appropriate for the target group in order to provide you with a clear rationale for your decisions. Increase your efficiency and strengthen your decision-making with our solutions tailored to your value drivers.
Our in-depth analysis of the business model and key value drivers provides you with a clear rationale for determining the company's value. With targeted sensitivity, scenario and benchmarking analyses, we minimize uncertainties and create a reliable basis for the valuation. Take advantage of our expertise to benefit from a precise company valuation and make strategic decisions at the highest level.
We are also pleased to prepare valuations on a case-by-case basis, e.g. for contractual clauses, intangible assets or for an economic damage assessment in the context of legal disputes.
Use a holistic cost of capital concept that ensures consistent handling of the key cost of capital parameters (including currencies, inflation, risk profile) in various areas of application. The weighted average cost of capital (WACC) has a significant influence on the valuation of a company, the financial value measurement for a project, the measurement of the economic value creation of companies or the assessment of any need for impairment.
Our wealth of experience in purchase price allocation (PPA) is based on a variety of projects and close cooperation with auditors. According to IFRS 3 “Business Combinations,” the price paid in the event of a takeover is to be allocated to the identifiable assets and liabilities. This results in positive or negative goodwill at the time of acquisition. The concrete implementation of the PPA is associated with various challenges.
We divide the entire process into four phases:
The amount of identified intangible assets and goodwill has a direct impact on a company's future performance record due to amortization options. In order to define an IFRS-compliant PPA strategy, the effects of the PPA must be estimated and assessed at an early stage.
When analyzing a transaction, it is first and foremost important to determine the purchase price relevant to the PPA. We analyze the transaction in detail (including earn-out clauses, purchase and disposal rights) and determine the transaction price, taking into account the relevant IFRS regulations.
The implementation of Purchase Price Allocation can generally be divided into the following steps:
- Revaluation of existing assets and liabilities (fair value determination)
- Identification of new intangible assets (according to the identification criteria under IAS 38)
- Valuation of the intangible assets (according to market value approach, income approach and cost approach)
- Identification and allocation of goodwill (residual purchase price for the target and fair value of all net assets)
Our report for decision makers includes a detailed, easy-to-understand presentation of the valuations and the resulting results for intangible assets and goodwill.
In connection with IFRS 3, the disclosure requirements must be observed so that entrepreneurial stakeholders (in particular investors and creditors) can assess the financial impact of a corporate transaction. We are familiar with both the minimum requirements and best practices.
The goodwill generated as a result of a transaction and all other intangible assets without a determinable useful life must be assessed annually in accordance with IAS 36 and if certain criteria are met (triggering events). In this context, we have been offering support for many years with:
IFRS compliance of the impairment models and the quality and timeliness of the data used (in particular capital costs) should be reviewed periodically. With our standardized approach, we are able to efficiently assess impairment testing with regard to IFRS compliance and best corporate finance practice and identify any need to adjust processes, models and evaluation parameters.
By establishing standardized processes and models for carrying out impairment tests, both efficient processing and a high level of security in operational implementation can be ensured.
Capital costs are of significant importance in the context of financial management. These should therefore be combined in a holistic capital cost concept for the various areas of application (including CAPEX, acquisitions, value management and IFRS). The WACC used in impairment testing must also comply with the requirements of IAS 36 and the corporate finance principles.
Share-based payments are used by numerous companies, particularly those listed. IFRS 2 provides clear guidelines for the accounting treatment of such compensation instruments. For example, the chosen settlement method (shares or cash) determines the valuation method and accounting treatment. Accordingly, when drafting employee participation programs in accordance with regulations, the implications for evaluation and accounting must be analyzed. We support our clients in designing variable compensation instruments and in evaluating them periodically.
IFBC develops your M&A strategy through dialog. Our M&A advisors accompany you as a sounding board, contributing proven methods, new ideas and an external perspective. Take advantage of our experience on the buyer and seller side as well as in Equity Capital Markets to strengthen your internal preparations and processes. You can deploy us flexibly to suit your situation — from the development of your M&A strategy to implementation of a purchase or sale transaction, transaction financing and accounting implementation.
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