ABSTRACT
As a result, DCF has become established not only as a standard additional valuation tool that is useful in its own right, but one that can help highlight factors in an appraisal which may otherwise not be fully appreciated. It is also a useful means of confirming traditional valuation figures, or of explicitly incorporating a number of factors into the calculation which in the past were dealt with on an implicit basis. In other words, the calculation reflected the presence of these various factors, but no specific allowance was made for them in the calculations.
