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How to value your company in practice – an example 143
Forecasted working capital for 2010–2013
Table 8.6 shows an assessment of the changes in Mobitronics’ working
capital for the years 2010–2013. Here, forecasting revenues is crucial, as
fluctuations in working capital tend to correlate with changes in revenues.
Investment in goodwill
The investment in goodwill represents the cost of acquiring assets or other
companies in excess of their book value. The investment in goodwill is
best calculated as the change in goodwill in the balance sheet between two
years plus the amortization of goodwill in that year.
Mobitronics does not expect