Guides for deal teams

Financial due diligence technique, Excel practice and the occasional honest tool comparison. Written by people who do the work.

• Debt & NWC · 6 October 2026

  Debt-Like Items in Due Diligence: The Complete List, with Examples

  What counts as a debt-like item, the tests buyers apply, a complete list grouped by type, and a worked Excel example from enterprise value to equity.

• FDD workflow · 6 October 2026

  Financial Due Diligence Software: A Buyer's Guide for Deal Teams (2026)

  How to choose financial due diligence software: the five kinds of tool sold under the label, 10 criteria that matter, demo questions, and a free scorecard.

• Quality of Earnings · 2 September 2026

  EBITDA Adjustments in QoE: 40 Common Add-Backs

  The adjustments that appear in most Quality of Earnings reports, grouped by category, with the evidence diligence teams expect and the ones buyers push back on.

• Working capital · 2 September 2026

  Net Working Capital Peg in Due Diligence, Explained

  Why the working capital peg moves price as much as EBITDA, what diligence teams analyse (monthly NWC, seasonality, DSO/DIO/DPO) and how to build the schedule.

• Quality of Earnings · 2 September 2026

  Quality of Earnings vs Audit: What a QoE Report Is

  How a Quality of Earnings report differs from an audit, what it contains, when buyers and sellers commission one, and what it typically costs.

• FDD workflow · 29 April 2026

  How to Automate Financial Due Diligence in Excel with AI

  What can be automated in an FDD engagement, what cannot, and how to do it inside Excel from trial balance import to commentary with the reviewer in charge.

• Tools · 29 April 2026

  AI Excel Add-ins for Finance in 2026: What Each Does

  An honest map of AI Excel add-ins for finance teams, grouped by job: productivity, document extraction, public-company data and diligence analysis.

• Financial modelling · 28 February 2026

  How to Audit a Financial Model in Excel: Checklist

  Step-by-step method to audit a financial model in Excel: structure, formula consistency, hardcodes, references and tie-outs, with a 25-point checklist.