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  Personal Financial Statement:    
           
 
 
   
 
 
   
             
 
   
 
   
             
  Financial Information as of:  
 
 
     
     
     
  Assets     Amount in Dollars  
Cash - checking accounts
Cash - savings accounts
Certificates of deposit
Securities - stocks / bonds / mutual funds
Notes & contracts receivable
Life insurance (cash surrender value)
Retirement Funds (IRAs, 401k, etc.)
Personal Property (autos, jewelry, etc.)
Real estate (market value)
Stock in privately held companies
Other assets (specify)
Total Assets
  Liabilities     Amount in Dollars  
Current Debt (Credit cards, Accounts)
Notes payable (describe below)
Taxes payable
Real estate mortgages (describe)
Other liabilities (specify)
Other liabilities (specify)
Total Liabilities
  Net Worth      
  Signature:_________________________________ Date:___________  
  Personal Financial Statement of:  
   
Details
1. ASSETS - Details
Securities: Stocks, Bonds, Mutual funds
  Name of Security Number of Shares Cost Market Value Date of Acquisition  
Notes and Contracts Receivable
  Borrower's Name Balance Due Original Amount Original Date Monthly Payment Maturity Date
Personal Property
  Description of Property Market Value Original Cost Purchase Date    
Real Estate
  Description / Location Market Value Original Cost Purchase Date    
Stock in Privately Held Companies
  Company Name % Owned $ Invested
Est. Market Value
   
Other Assets
  Description of Asset Market Value Original Cost Purchase Date    
  Personal Financial Statement of:  
   
Details
2. LIABILITIES - Details
Current Debt (Credit Cards, Lines of Credit)
Name of Card / Creditor Amount Owed
Notes Payable (excluding monthly bills)
  Name of Creditor Amount Owed Original Amount Monthly Payment Interest Rate Secured by (Lien)
Mortgage and Real Estate Loans Payable
  Name of Creditor Amount Owed Original Amount Monthly Payment Interest Rate Secured by (Lien)
Rule of thumb' ideas for doing a business appraisal estimate:
Pick ONE of these methods:
Annual Sales (Less Materials cost for construction and manufacturing companies) times 1
Even if your business isn't generating income, Net sales are often considered a decent indication of value.
There are mitigating circumstances that make this valuation method inaccurate for instance:
Are customers buying from the business or from the owner? IE: Will sales die when the owner disappears?
Net income (Pre-tax) times 5
Some will say "who cares about sales figures. How much income is being generated". It's hard to argue with that,
but there's also no guarantee that another owner would have the same result as the current management team.
Annual Payroll (less officers, directors and owners) times 1. Especially in a factory-type environment.
Even if you have sagging sales and no income, if you have a stable, productive workforce; you have something of value.
The justification for value under this scenario more difficult to make than others. A factor of less than
1 may be appropriate, but a short explanation should be included why your workforce is valuable and why you
chose the factor of "1" or ".75".
You can often find Rule of thumb methods in trade journals, or by talking to brokers who specialize in selling businesses in your industry.
Then Add this:
Cash and Short-term invested funds at current market value.
Real estate - at cost; not book value.
Equipment & Machinery: Use a factor of 50% for newer equipment; and as low as 20% for older equipment.
Accounts Receivable and Notes Receivable
Do not include: Start up costs, Unamortized costs, etc.
Valuations are based on possible future results, not past expenses. All that money you spent starting your business is gone. Let it go.
If you have a patent, or an intangible item that is marketable, you can consider adding it; but this would be rare.
And Subtract this:
Accounts Payable and Notes Payable
Income Tax and Payroll Tax obligations
Round your results!
If you calculate a valuation of $148,205, round the valuation to $150,000, or $100,000.
Using a more precise figure suggests an accuracy that is impossible to achieve under any circumstances.
Using these suggested methods will NOT result in an accurate valuation.
These are just rule-of-thumb type measurements.
Formal valuations can cost $20,000 or more, regardless of the size of the business.
These suggestions are designed to help you substantiate the value of your business in a way that is documentable
for the party requesting a personal financial statement.