{"id":44573,"date":"2019-12-02T00:00:00","date_gmt":"2019-12-01T23:00:00","guid":{"rendered":"https:\/\/techma.bakertilly.es\/errores-organizacionales-en-la-valoracion\/"},"modified":"2025-06-23T11:40:05","modified_gmt":"2025-06-23T09:40:05","slug":"errores-en-la-valoracion-de-empresas","status":"publish","type":"diccionario","link":"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/","title":{"rendered":"5 common mistakes in company valuation"},"content":{"rendered":"<figure class=\"wp-block-image alignright\"><img decoding=\"async\" src=\"https:\/\/images.assetsdelivery.com\/compings_v2\/fizkes\/fizkes1802\/fizkes180200328\/95313436.jpg\" alt=\"Not knowing the common pitfalls of company valuation can be time consuming.\" title=\"\"><\/figure>\n\n\n\n<p>Just as important as the technical concepts to be applied in a valuation process is the way in which the valuation is structured in order to avoid making the 5 common mistakes in company valuation. A process that lacks the <strong>correct structure and organisation<\/strong>can lead to misunderstandings and misleading results.<\/p>\n\n\n\n<p>It should not be forgotten that the valuation of companies involves the participation of several parties, mainly the valuation agent and the company being valued. It is therefore important that the approach, involvement and roles of both parties are clear and that each party brings to the process what they are experts in, making up for the shortcomings of the other.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Contents\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#A_continuacion_presentamos_los_errores_mas_comunes_que_impiden_alcanzar_los_objectivos_de_valoracion\" >A continuaci\u00f3n, presentamos los errores m\u00e1s comunes que impiden alcanzar los objectivos de valoraci\u00f3n<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#1_No_revisar_ninguna_de_la_hipotesis_del_cliente\" >1. Do not review any of the client's assumptions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#2_Encargar_una_valoracion_y_no_involucrarse_en_ella\" >2. Commissioning an assessment and not getting involved in it<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#3_Asignar_la_valoracion_de_una_empresa_objetivo_solo_al_departamento_de_finanzas_y_contabilidad\" >3. Assign the valuation of a target company only to the finance and accounting department.&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#4_Asignar_la_valoracion_de_una_empresa_a_un_auditor\" >4. Assigning the valuation of a company to an auditor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/errores-en-la-valoracion-de-empresas\/#5_Asignar_la_valoracion_de_una_empresa_a_un_catedratico_de_economia_sin_experiencia_en_empresas\" >5. Assigning the valuation of a company to a professor of economics with no business experience&nbsp;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-left\"><span class=\"ez-toc-section\" id=\"A_continuacion_presentamos_los_errores_mas_comunes_que_impiden_alcanzar_los_objectivos_de_valoracion\"><\/span>A continuaci\u00f3n, presentamos los errores m\u00e1s comunes que impiden alcanzar los objectivos de valoraci\u00f3n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_No_revisar_ninguna_de_la_hipotesis_del_cliente\"><\/span>1. Do not review any of the client's assumptions.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As is well known, business valuation is based, among other things, on a number of assumptions about sales, costs and investments. It is common, in this process, to consult the client about his expectations, as he is the one who knows the business and the sector best.<\/p>\n\n\n\n<p>However, this does not mean that all projections provided by the company should be taken at face value, but rather that they should be checked and contrasted with our own information. In this way, we can verify whether they make sense and are therefore feasible.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Encargar_una_valoracion_y_no_involucrarse_en_ella\"><\/span>2. Commissioning an assessment and not getting involved in it<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Notwithstanding the previous point, it is not advisable, far from it, for the company to completely disengage itself from the valuation process. It should not leave everything in the hands of the investment bank or boutique to whom it has entrusted the valuation process.<\/p>\n\n\n\n<p>As the company itself has the best knowledge of its situation and the functioning of the sector in which it operates, it must work together with the valuer to combine this knowledge with the knowledge of the sector in which it operates. <em>expertise<\/em> that such a professional can bring to you. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Asignar_la_valoracion_de_una_empresa_objetivo_solo_al_departamento_de_finanzas_y_contabilidad\"><\/span>3. Assign the valuation of a target company only to the finance and accounting department.&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image alignright is-resized\"><img decoding=\"async\" src=\"https:\/\/images.assetsdelivery.com\/compings_v2\/dinodia\/dinodia1709\/dinodia170906644\/85741441.jpg\" alt=\"mistake 3. Assigning the valuation of a target company only to the finance and accounting department\u00a0\" style=\"width:385px;height:257px\" title=\"\"><\/figure>\n\n\n\n<p>It is clear that the future of a company does not depend exclusively on the finance and accounting department. It is the company as a whole that will determine its future. Therefore, it is advisable to have the marketing, production, human resources, etc. departments involved in order to have a better and more complete vision of the company's performance and, above all, what can be expected for the future. <br><br><br><br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Asignar_la_valoracion_de_una_empresa_a_un_auditor\"><\/span>4. Assigning the valuation of a company to an auditor<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It should be borne in mind that auditors are experts in accounting, but not in company valuation.<\/p>\n\n\n\n<p>Auditing primarily examines the past, whereas valuation is concerned with the future. The two activities are radically different, so that work as an auditor has nothing to do with valuation. Consequently, you cannot give any assurance that a valuation will be carried out in the correct way.<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Asignar_la_valoracion_de_una_empresa_a_un_catedratico_de_economia_sin_experiencia_en_empresas\"><\/span>5. Assigning the valuation of a company to a professor of economics with no business experience&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As has already been pointed out, theoretical knowledge is important and one of the foundations of valuation, but many other virtues are necessary to be able to carry it out correctly.<\/p>\n\n\n\n<p>Therefore, a professor of economics who has no experience in the field, or who is unaware of other equally important aspects such as, for example, the strategy or legal aspects of the company, may confuse certain applications of the theory and neglect other aspects in the process that should be taken into account.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/web.iese.edu\/PabloFernandez\/?_ga=2.145029876.1572506601.1561963440-1096857544.1561963440\" target=\"_blank\" rel=\"noreferrer noopener\">201 Common errors in company valuation. Pablo Fern\u00e1ndez. 2008<\/a>.<\/p>\n\n\n\n<p>Download the complete guide to company valuations here: <\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f65346-o1\" lang=\"es-ES\" dir=\"ltr\" data-wpcf7-id=\"65346\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/en\/wp-json\/wp\/v2\/diccionario\/44573#wpcf7-f65346-o1\" method=\"post\" class=\"wpcf7-form init cf7mls-no-scroll cf7mls-auto-return-first-step cf7mls-no-moving-animation\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\" data-trp-original-action=\"\/en\/wp-json\/wp\/v2\/diccionario\/44573#wpcf7-f65346-o1\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"65346\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"es_ES\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f65346-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"llamadanombre\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Name*\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"llamadaemail\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email*\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"llamadatel\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"text-776\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text\" aria-invalid=\"false\" placeholder=\"Company\" value=\"\" type=\"text\" name=\"text-776\" \/><\/span>\n\t<\/p>\n<\/div>\n<div class=\"llamadaaceptar\" style=\"font-family: Roboto, Sans-Serif; font-size: 14px; font-weight: 600; color: #2b303a; margin-top: 30px; margin-bottom: 10px; text-align:left;\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"acceptance-357\"><span class=\"wpcf7-form-control wpcf7-acceptance\"><span class=\"wpcf7-list-item\"><label><input type=\"checkbox\" name=\"acceptance-357\" value=\"1\" aria-invalid=\"false\" \/><span class=\"wpcf7-list-item-label\">I have read and accept the <a href=\"https:\/\/techma.bakertilly.es\/en\/politica-de-privacidad\/\">Privacy Policy.<\/a><\/span><\/label><\/span><\/span><\/span>\n\t<\/p>\n<\/div>\n<div class=\"llamadaaceptar\" style=\"font-family: Roboto, Sans-Serif; font-size: 14px; font-weight: 600; color: #2b303a; margin-top: 30px; margin-bottom: 10px; text-align:left;\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"acceptance-744\"><span class=\"wpcf7-form-control wpcf7-acceptance optional\"><span class=\"wpcf7-list-item\"><label><input type=\"checkbox\" name=\"acceptance-744\" value=\"1\" aria-invalid=\"false\" \/><span class=\"wpcf7-list-item-label\">Estoy interesado\/a en recibir la gu\u00eda y m\u00e1s noticias por correo electr\u00f3nico.<\/span><\/label><\/span><\/span><\/span>\n\t<\/p>\n<\/div>\n<div style=\"text-align:center; margin-left:50px!important;\">\n\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner\" type=\"submit\" value=\"Send\" \/>\n\t<\/p>\n<\/div><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n<\/div>","protected":false},"author":4,"featured_media":44574,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"paso-howto":[2252],"sectores":[],"class_list":["post-44573","diccionario","type-diccionario","status-publish","has-post-thumbnail","hentry","paso-howto-valoracion-errores-mas-frecuentes"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/diccionario\/44573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/diccionario"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/diccionario"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media\/44574"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=44573"}],"wp:term":[{"taxonomy":"paso-howto","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/paso-howto?post=44573"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=44573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}