INSIGHTS

Practical notes on financial analysis, international business and transfer pricing.

Short observations on recurring questions in modelling, valuation, cross-border work and transfer pricing.

Financial modelling

A model should answer a business question

The model structure should follow the decision being made—funding, acquisition, expansion, budgeting or valuation. Assumptions, sensitivities and cash flows should be easy to trace and test.

Valuation

Valuation starts with the assumptions

Growth, margins, capital needs, discount rates and terminal assumptions often drive more of the result than the mechanical choice of method. A useful valuation makes those drivers visible.

Cross-border business

Model the economics before choosing the structure

Market-entry and cross-border operating models should be tested for revenue, margins, funding, working capital, currency and cash movement before the legal form is finalised.

Transfer pricing

Contracts, conduct and evidence need to line up

A defensible transfer pricing position depends on the actual functions, risks, assets, commercial terms and supporting evidence—not the policy document alone.