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View the related practice notes about P/E ratio

Instructing a forensic accountant in family proceedings

Instructing a forensic accountant in family proceedings This Practice Note considers issues relating to the instruction of a forensic accountant to provide expert evidence as to the valuation of company or business assets within financial remedy proceedings, including applications for permission, matters to be dealt with in the letter of instruction, valuation methodology and minority interests. It is commonly the case that where one of the assets in financial remedy proceedings is an interest in a limited company, the court will direct a valuation of that interest. Sometimes it will be straightforward to calculate the value of a business, such as a one-person incorporated trading entity with no intrinsic value to the company, where a formal valuation is not required and the accounts provide the necessary information. However, for a larger business, or one that involves multiple shareholders or a minority shareholding, it will usually be necessary for the court to appoint a forensic accountant to conduct a valuation. The procedural provisions relating to experts are...

An introduction to business finance and accounting—for in-house lawyers

An introduction to business finance and accounting—for in-house lawyers This Practice Note, produced in partnership with Cranfield School of Management, aims to give you insight into finance and accounting in your organisation. It is intended to help you understand more about the basis of your department’s budgets and the issues involved in important financial transactions such as investment or acquisition decisions, where you may be involved from a legal perspective. The language of finance Management decisions and conversations are peppered with financial language—‘cash flow’, ‘margin’, ‘return’ and so on. Failure to fully grasp this language can put you at a disadvantage and may prevent you from being able fully to participate in important management decisions. Understanding all the complexities of financial matters is not a key requirement, but knowing a sufficient amount is. See Practice Note: Financial glossary for some key financial terms for in-house lawyers. There are two distinguishable forms of accounting in common use: • financial accounting is concerned with the day-to-day recording of financial transactions...