Full Quality of Earnings Report
Our QoE report goes beyond the surface of a company’s financial statements. We provide a comprehensive analysis, offering valuable insights into the sustainability and predictability of a business acquisition target’s earnings. View sample Qoe
Firms We’ve Helped
Unbiased & Customized QoE by CPAs
Our team comprises highly qualified and experienced accounting professionals who deeply understand the nuances of QoE analysis. We provide unbiased and impartial analysis, free from any conflicts of interest.
Our reports are customized to meet your specific needs and objectives. We deliver reports promptly and efficiently, allowing you to make informed decisions without any delay.
What’s Covered?
Our complete comprehensive QoE analysis digs into major aspects of the business financials. The deliverables include a Excel Workbook plus a detailed PDF report. Here is what’s included in the analysis:
Company & Financial Background – We review the acquisition target’s history, structure, operations, and internal financial reporting to build a clear understanding of how the business is run.
Earnings Quality & Performance – We analyze revenue, expenses, trends, and management add-backs to determine the business’s true, sustainable earnings. Nonrecurring, unusual, or non-cash items are identified, and EBITDA adjustments are validated.
Cash & Banking Analysis – We review bank statements and perform a Proof of Cash analysis to reconcile financial results with actual cash activity, ensuring reported numbers align with reality.
Cost Structure & Margin Analysis – We evaluate trends in operating and administrative costs to understand cost behavior, margin stability, and opportunities for scalability and efficiency.
Customer & Vendor Concentration – We assess customer and supplier dependencies to identify concentration risks and exposure that could impact earnings consistency or operational continuity.
Balance Sheet & Working Capital – We review the balance sheet and analyze working capital trends, including seasonality, peaks/lows, receivables, payables, and other current assets.
Inventory & CAPEX – We examine inventory composition, costing methods, reserves, and write-down history while analyzing historical CAPEX to determine future investment requirements and asset replacement needs.
Liabilities & Contingencies – We identify off-balance sheet obligations, accrued liabilities, and potential legal or environmental exposures that may create financial risk post-acquisition.
Tax Review (High-Level) – We conduct a brief tax review aimed at identifying obvious tax risks or red flags, without undertaking a comprehensive tax diligence engagement.
Management Inquiry & Data Requests – We collaborate with management to gather additional data, clarify assumptions, and address follow-up questions throughout the diligence process, ensuring thorough and accurate findings.
Our Expert Team
Our primary criteria for team members: they must manage their businesses and have had multiple exits within the last 12 months. This ensures our team is up-to-date on all recent M&A activity and has a full understanding of how to vet businesses. Our team is world-class.
Mushfiq Sarker
Founder and M&A Analyst
Mushfiq has been active in online business acquisitions since 2008, with over 215 exits to date. He has performed due diligence on over 1,000+ businesses and brings a breadth of experience in reviewing deals. Connect on LinkedIn.
Christopher S. Lee
M&A CPA
Christopher is a seasoned CPA who spent years in senior tax roles. He now works directly with entrepreneurs doing buy-side due diligence, specifically focused on Quality of Earnings (QoE) reports. Connect on LinkedIn.
Testimonials
I engaged WebAcquisition on 3 pieces of work for a business acquisition: marketing and technical diligence, financial diligence, and an opportunity identification and evaluation report (what they call “Easy Wins”). I was very pleased with all three, with the two diligence pieces giving me good comfort, and the Easy Wins report opening my aperture for what was possible after acquisition.
Gold Creek Pond
I hired Mushfiq and his team for their concierge Deal Sourcing service. Over a 8 month period, the team worked to source deals both on and off-market that met my investment criteria. We found a stable $2M eCommerce business that we closed on. They assisted in structuring the deal where we put down 60% and the rest seller financed. They also performed due diligence to ensure it was a stable business. Overall, the service is highly recommended!
Twenty Hours
Mushfiq and team did an outstanding job on their due diligence, identifying a critical element in the business that we were looking at that caused us to back away from the deal. Really appreciate the attention to detail and thoroughness of their evaluation of our potential acquisition target and I definitely plan to use them again.
I purchased a package of five “site reviews” by Mushfiq. I am super impressed with the feedback Mushfiq gives and the value delivered. Even though I have not moved forward purchasing any of the sites I’ve asked Mushfiq to review, I wouldn’t think of buying an online business without getting his take first. I’ve learned a ton from him on each review delivered.
Mushfiq and the team are experts and are always great to work with. Not only do they have a very quick turnaround on Due Diligence reports themselves (I’ve used them twice now for two successful purchases), Mushfiq is always available for follow-up questions. He is also extremely quick to respond. Would recommend.
Paragraph Capital
The WebAcquisition team helped us perform due diligence reviews on multiple Amazon FBA businesses. We received an actionable report with many insights. I highly recommend Mushfiq and his team!
Venturr.io
“Mushfiq & his team did a great job with the full due diligence report… Not only did he look at the financials but did a full analysis on domain history, website history, market analysis, traffic, SEO, backlink, projections, valuation & deal structure and more. This is what I needed to make an informed decision and to acquire the business… I would definitely hire him again to do my M&A due diligence.”
Jon Kong
WebAcquisitions was fast, responsive, and most competitively priced. Turning around my report in only 5 days, they are one of the few firms that do a thorough SEO assessment as well as validating revenues. Mushfiq’s experience allowed us to catch things that weren’t on our radar.
Jasmine Grainger
I hired the WebAcquistion team to perform due diligence on a few content, Shopify, and newsletter businesses. Their deep expertise in operating such businesses definitely shows in the reports. Recommended!
Indexsy
We hired Mushfiq’s team to perform due diligence on various content sites. Their reports were extremely thorough and pointed out insights that helped us make an acquisition decision.
Scott Oldford
The Wisdom Group
WebAcquisition team performed a due diligence review of a content website we wanted to acquire from Empire Flipper’s brokerage. They reviewed everything related to the website and provided insights that have helped us make a decision. Recommended!
My consultation with WebAcquisition was very valuable and insightful. I was seeking feedback on potentially merging two sites into one and the conversation helped determine the best path forward, but also covered some other things like better monetization techniques. Extremely knowledgeable and experienced
Bryan May
I was very happy with the [Amazon KDP] report as it opened my eyes and without question prevented me from making a big mistake.
The report covers everything and makes your decision a lot easier, the money is well spent.
I highly recommend WebAcquisition.
Henrik H.
The DD report was very informative, detailed, and expertly put together.
It was a valuable tool to help inform my decision on the [YouTube channel] business I was looking to acquire. It was money well spent considering the cost of the business I was looking to buy. I highly recommend their services.
Brian Alper
It’s always a good idea to have another set of eyes review a deal, regardless of size. I’ve worked with Mushfiq, David and their team a few times now on pre-deal due diligence services. It is clear that they are very knowledgeable about the ecommerce space, highlighting the pros and cons of each deal and providing a thorough review of potential acquisitions, including any potential red flags. I would not hesitate to hire them again.
Andrew Valen
Mushfiq has done a few due diligence reports for me and they were all excellent.
He is very thorough in his analysis and review of the business and industry. He found some red flags that I never would have found and likely saved me from some bad acquisitions. I also did a consulting call with him to help with my acquisition strategy. The call was great and he helped me refine my strategy and focus. I would definitely recommend Mushfiq.
Andy Edler
Common Questions
Who is this service ideal for?
Our QoE Report service is ideal for:
- Buyers with signed LOIs seeking a thorough review of the target’s financial health before proceeding with an acquisition.
- Investors needing a deeper understanding of a company’s true earning power before making investment decisions.
What information do you need from us to complete the QoE Report?
To complete the QoE Report, we will require access to the target company’s financial statements (P&L, Balance Sheet, Cash Flow) for the past few years, relevant contracts, and accounting policies. You may also be asked to provide additional information specific to the target company or industry.
Do I have the opportunity to provide feedback or ask questions during the process?
Absolutely! We encourage open communication throughout the process. You will have direct access to one of our due diligence specialists to address any questions or concerns you may have and provide feedback on the analysis.
Can I share the report with investors, lenders, or other stakeholders?
Yes, you can absolutely share the Quality of Earnings (QoE) Report with investors, lenders, or other stakeholders.
What format will the final report be delivered in?
A link to download your written PDF report and Excel Workbook will be sent to the email address used to purchase.
Can I get a faster turnaround on the report?
On a case-by-case basis, we can expedite an order for an additional fee.
Pricing & Next Steps
Quality of Earnings Report: $8,900+
We deliver a comprehensive and easy-to-understand Excel Workbook and detailed PDF report within 2-3 weeks (subject to receipt of requested documents). View sample QoE analysis.
Pricing may vary based on the complexity (number of years of analysis, accounting data availability, etc) and scope of the engagement. Please contact us for a customized quote tailored to your specific needs.
Fill out the contact form with details of your business acquisition target and we will get back to you with a quote.
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