A profitable adviser business will be viewed as a going-concern. But what is profit? In our view it is only the surplus after economically valid sums for cost and the owner's salary are deducted. This view suggests that the business will continue to operate and not be forced to liquidate or discontinue operations, and is of sufficient scale to be considered a business. The joint valuation service Chatswood completes in conjunction with BASE prepares a valuation report based on a going concern. If interested in discussing further please contact Russell.Hutchinson@chatswood.co.nz or Jerusalem.Hibru@chatswood.co.nz.