Buying a business?
Test the earnings before you pay for them.
Buy-side quality of earnings by a CFA charterholder. We stress-test adjusted EBITDA, cash conversion and working capital so you price the deal on proven numbers.
Quality guarantee: a senior CFA leads every engagement — no junior handoff — every finding is evidence-backed, and 30 days of buyer and lender Q&A support is included.
Fixed-scope proposal within 24 hours.
Where engagements start
Add-backs that won't survive diligence
Evidence-backed adjustment schedule.
Cash-basis or messy books
Accrual conversion and proof of cash.
A working capital peg that is a guess
12–24 month NWC analysis and a defensible peg.
One rejected adjustment can reprice the deal.
Buyers price adjusted EBITDA, then test every dollar. See the enterprise-value effect.
Fixed scope. Senior-led.
Sell-side QoE
Defend adjusted EBITDA before the buyer's team tests it.
—Timeline
2–4 weeksScope
8 deliverables
Buy-side QoE
Test earnings, cash conversion and working capital before you price the deal.
—Timeline
2–4 weeksScope
9 deliverables
QoE Lite / readiness
Find the issues a buyer will find while there is still time to fix them.
—Timeline
1–2 weeksScope
5 deliverables
NWC peg & closing support
Replace a guessed peg with monthly evidence and a defensible range.
—Timeline
1–2 weeksScope
4 deliverables
Proof of cash & accrual conversion
Reconcile bank activity to reported revenue and normalize cash-basis books.
—Timeline
1–3 weeksScope
5 deliverables
Acquisition financing package
Give lenders a coherent earnings case, debt schedule and repayment model.
—Timeline
2–3 weeksScope
7 deliverables
What's in the report
Extract from an illustrative report — client work is confidential.
Extract from an illustrative report — client work is confidential.
Extract from an illustrative report — client work is confidential.
Four steps. No junior handoff.
Send the brief
Share the deal stage, objectives and available records.
Proposal in 24h
Exact scope, fee, timeline and data request.
Analysis
Full-ledger review with weekly check-ins.
Report & support
Buyer and lender Q&A plus 30 days of follow-up.
Sell-side or buy-side?
Sell-side
Prove adjustments before market. Resolve data gaps. Set a defensible working capital peg. Equip management for buyer Q&A.
Buy-side
Test reported earnings. Quantify risks. Challenge revenue quality and cash conversion. Inform price and terms.
What changed, in numbers
Illustrative examples only. Replace with approved, anonymized engagement results.
Add-backs tested
$310K supported with source evidence.
Close rebuilt
Cash-basis records converted to monthly accrual views.
Peg range narrowed
Seasonality separated from structural working capital.
Test the pressure points first.
The exact number comes before work begins.
Fixed fee · fixed scope
Fixed fee · fixed scope
Fixed fee · fixed scope
Fixed fee · fixed scope
Built for consequential, middle-market decisions.
Good fit
- $2M–$50M revenue business
- Owner preparing to sell
- Search fund or independent sponsor
- Family office, small PE fund or acquisition lender
- Management can provide transaction-level records
Not a fit
- Audit or assurance opinion required
- Public-company audit committee mandate
- Records unavailable at transaction level
- A predetermined EBITDA answer is required
- Same-day report request
The CFA does the work.
Sergei Mochtchenkov, CFA, brings 20+ years in finance and experience supporting 300+ clients and US$1B+ in debt and equity transactions. He reads earnings the way a buyer's investment committee prices them—and translates every adjustment into enterprise value.
Direct answers.
Two ways to begin
Request a fixed-scope quote. The add-backs checklist will be available when the final PDF is supplied.