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M&A Preparation Services

We Help Increase Shareholder Value.

Our Quality of Earnings Analysis and CFO Consulting Services

Our Quality of Earnings analysis and CFO consulting services are designed to give you a significant advantage in the sale of your technology business, ultimately providing you with a smoother process and a higher final transaction value. We deliver these optional services in phases as seen below.

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Phase 1

Quality of Earnings Analysis

A sell-side Quality of Earnings (QoE) analysis is often commissioned before a company goes to market to understand its financial performance, operational efficiency, and potential risks or opportunities that could impact its valuation during a sale or acquisition process. This analysis allows sellers to identify and address any critical issues before going to market, enhancing transparency with buyers, and reducing the risk of deal-breaking surprises during the buyer’s due diligence process. Such analysis can significantly increase a company’s sale price by identifying and presenting add-backs to EBITDA, expenses not counted in future profit and loss statements that increase earnings and deal value. These reports offer sellers a strategic advantage, as buyers’ due diligence often overlooks these add-backs, potentially leaving money on the table. Additionally, sell-side QoE analysis enhances a business’s appeal to buyers by demonstrating financial reliability, transparency, efficiency and making the business look like a “clean” and straightforward purchase. This will lead to higher initial offers and a higher final transaction or enterprise value (EV).

Why do most sellers pay for a QoE analysis?

These reports offer sellers a strategic advantage, as buyers’ due diligence often overlooks these add-backs, potentially leaving money on the table. Additionally, sell-side QoE analysis enhances a business’s appeal to buyers by demonstrating  financial reliability, transparency, efficiency and making the business look like a “clean” and straightforward purchase. This will lead to higher initial offers and a higher final transaction or enterprise value (EV).

How is a sell-side Quality of Earnings analysis conducted?

The analysis involves thoroughly reviewing a company's financial documents to ensure its reported earnings' accuracy, sustainability, and reliability.

Here's a list of common documents reviewed:

  • 1. Financial Statements:

    Includes income statements, balance sheets, and cash flow statements for the past few years to assess the company’s financial health and trends in profitability, assets, liabilities, and cash flows.

  • 2. Tax Returns:

    Reviewed for multiple years to verify that the income reported to tax authorities aligns with the financial statements and to identify any potential tax liabilities or savings.

  • 3. General Ledger and Journal Entries:

    Examined to ensure transactions are accurately recorded and identify unusual or non-recurring entries that may affect earnings.

  • 4. Revenue and Accounts Receivable:

    Analyzed to evaluate the company’s revenue recognition practices, sales trends, customer concentration, and the collectability of receivables.

  • 5. Expenses and Accounts Payable:

    Reviewed to identify the nature of expenses, any potential add-backs to EBITDA, and to ensure expenses are appropriately categorized and not understated or overstated.

  • 6. Debt Agreements and Interest Expenses:

    Assessed to understand the company’s debt structure, terms, covenants, and interest costs, which impact cash flow and financial flexibility.

  • 7. Capital Expenditure Documents:

    Reviewed to evaluate the company’s investment in maintaining or expanding its operational capabilities and its impact on future earnings.

  • 8. Budgets and Financial Forecasts:

    Analyzed to assess the realism and achievability of the company’s financial projections and strategic plans.

  • 9. Employee, Lease, and Contractual Agreements:

    Examined to identify any long-term obligations, unusual terms, or potential liabilities that could affect earnings stability.

  • 10. Legal Documents and Litigation Records:

    Reviewed to identify any current or potential legal issues that could impact the financial position or earnings of the company.

Phase 2

CFO Consulting Services

Elevate Your Sell-Side Quality of Earnings with Expert CFO Consulting


At Lombard Global, we specialize in transforming challenges into opportunities. When it comes to sell-side Quality of Earnings (QoE) analysis, we recognize that addressing deficiencies is crucial for enhancing your company’s appeal to potential buyers. Our bespoke CFO consulting services are meticulously crafted to not only identify and remedy these deficiencies but also to elevate your financial narratives and operational efficiencies.

Our Expert Approach

Precision-Driven Financial Insight

In-Depth Analysis: We dive deep into your QoE report, pinpointing deficiencies with precision. Our strategic approach ensures that every aspect of your financial health is scrutinized and optimized.



Financial Acumen: Backed by comprehensive expertise in accounting principles, financial reporting, and compliance, we adeptly navigate through complexities to rectify discrepancies and align your finances with industry standards.

Risk and Compliance Mastery

Rigorous Risk Management: With proactive risk identification and mitigation strategies, we fortify your business against potential pitfalls, enhancing your stability and resilience.



Unwavering Compliance: Our expertise ensures that your financial practices and remediation strategies adhere strictly to regulatory requirements, solidifying your standing in compliance and integrity.

Operational Excellence for Enhanced Value

Operational Streamlining: Through targeted initiatives, we refine your operational workflows, reduce costs, and boost efficiency, ensuring that your operational dynamics contribute positively to your financial profile.



Technology Integration: Embracing cutting-edge technology, we enhance your financial reporting accuracy and operational productivity, preparing your business for future growth and valuation enhancements.

Stakeholder Engagement and Transparency

Effective Communication: We articulate complex financial adjustments and strategies clearly, fostering an environment of transparency and trust with all stakeholders.


Strategic Relationship Building: Leveraging our negotiation skills, we manage relationships with suppliers, lenders, and buyers, smoothing the path for financial adjustments and operational enhancements.

Partner with Us for Unmatched Excellence

Choosing Lombard Global means selecting a partner committed to navigating the complexities of sell-side QoE analysis with unmatched expertise. Our bespoke approach addresses immediate deficiencies and strategically positions your company for successful sales and sustainable growth. Let’s collaborate to transform your financial landscape and unlock the true potential of your business. Reach out today to begin your journey to financial excellence and operational superiority.

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