Knowing the value of your firm is critical for ownership transition, whether internal or external. This session helps architects and engineers interpret financial statements, assess profitability, benchmark performance and explore the business valuation process specific to professional design firms.

Key Takeaways:

• Identify and explain financial statements for a professional design firm and understand the differences between cash and accrual accounting methods, including the pros and cons of each.
• Calculate and interpret key financial ratios used to manage profitability, and compare your results with industry standards.
• Describe the business valuation process for a design firm, including asset, income, and market approaches for determining value.