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Are you planning of selling your business? You have to guarantee that everything is in place for you to sell the business at the best price. To assist you out here are some of the questions that you ought to ask yourself as a business seller:

There are numerous things that a buyer will search for when purchasing your business. Some of these things include: line of product, management structure, compatibility of operations, and customer and market base.

It's easy to identify the value of your business as all you have to do is to hire a licensed appraisal company to do the appraisal for you. The company will consider a number of consider order to come up with the value of your business. Some of these factors include: assets, cash flow, market share, customer base, and financial history.

The best time to sell your business is when everything is in place. You ought to wait until your business is practical and you can predict that it's going to have an exponential growth. You ought to also wait until you have prepared all the required files and you have a professional exit technique.

You ought to never sell your business when you are desperate. For instance, you shouldn't sell your business when you have a pressing loan that you have to work out. This will not only give you stress, it will also lead to you selling the business at an extremely low cost.

IFRS uses only a one-step impairment test for building, plant, and equipment. In this case, guide value of an asset is compared with the recoverable amount, where the recoverable amount is the greater of the fair market value of the asset less the costs of disposal or the asset's value being used ("IFRS and US GAAP," 2014). Like US GAAP, the amount of impairment is equal to the amount by which guide value exceeds the recoverable amount. However, unlike US GAAP, IFRS allows the reversal of impairments. This can have a large influence on a firm's financial reporting. When an asset is marked down from an impairment, it is tape-recorded as a loss on the income statement. Under IFRS, however, if the asset then enhances in value, it may be marked back up and tape-recorded as a gain up until the initial cost (Dumont, 2012).