Understand the earnings and cash flow behind the asking price
Seller-provided financials may include adjustments, estimates, one-time items, and owner-specific expenses. Backline CFO reviews the available records and develops an independent view of normalized earnings, cash flow, working capital, and financial risk. The depth of the work depends on the scope selected and the quality of the records provided.
Choose the right level of diligence
Screen Any size · Pre-LOI $1,500–$2,500 3–5 business days
- High-level review of three years of financial trends
- Initial identification of material questions or inconsistencies
- Written summary of findings and recommended follow-up
Lite Up to $2.5M revenue $3,900–$6,500 7–10 business days
- Independent normalized EBITDA calculation
- Review of seller-proposed add-backs
- Comparison of reported results with available bank activity
Standard $2.5M–$5M revenue $6,500–$10,000 2–3 weeks
- Monthly financial analysis
- Working capital analysis and a recommended target
- Documentation organized for lender review
Full $5M–$10M revenue $10,000–$16,000 3–4 weeks
- Capital expenditures and cash flow analysis
- Financial information to support valuation and offer discussions
- Written report for lenders, investors, or other advisors
How the engagement works
Initial call
Discuss the target business, transaction stage, records available, and questions you want the work to address. Cole confirms the scope, fee range, timing, and document list.
Send the records
Provide the financial statements, tax returns, bank records, seller adjustments, and other documents included in the agreed scope.
Financial analysis
Cole completes the normalization, testing, and other procedures included in the agreed scope. This is not an audit or a guarantee that every issue will be identified.
Findings and review call
Receive the agreed written report and review the findings, open questions, and limitations directly with Cole.
Discuss an acquisition with Cole
The initial call is free. Cole will recommend a scope based on the business, the available records, and the questions you need addressed.