It is often said that valuing a business is more art than science. There is room for discretion and judgment on the part of the business appraiser, but all valuations depend upon certain facts, documents, and financial history to arrive at a value. Being prepared to guide a business owner through the valuation process can lead to better results for all parties involved. For example, simply understanding the time needed to prepare for a business valuation will help establish realistic goals and expectations. Knowing what should be included in a written business valuation report will lead to a better understanding when presented with a valuation prepared by another professional. Business appraisal reports can appear many times to be complex, full of details and difficult to truly understand but it is the purpose of this presentation to provide clarity to the valuation process and the outcomes.