The FDD workbench
Normalised bases, the quality-of-earnings bridge, evidence and findings.
Bases are built from the spread
The workbench sits on spread statements and computes the standard bases: operating profit with depreciation and amortisation added back, net working capital excluding cash and short-term debt, and net debt.
Where a required input is missing, the base stays empty and says why — exactly like the ratios. And if a figure upstream has gone stale, that flag reaches the base too.
Adjustments and the bridge
Adjustments can be recorded against each base, and the quality-of-earnings bridge shows the path from the reported figure to the adjusted one, with the coverage each part accounts for.
An invalid amount or an unknown category is refused; in an analysis destined for a buyer, an uncategorised number is worse than no number.
Findings and evidence
A red-flag checklist exists from the start, and flagging any item creates a finding. Each finding can reference a document, a spread row or an adjustment.
Evidence has to belong to the same client; referencing a document from another engagement's scope is refused.
While open items remain, the workbench will not be declared review-ready — and after review it can be reopened.
Read this next
- Financial analysisSpread a statementFrom a read document to rows mapped onto the chart of accounts.
- Financial analysisWhen a figure goes staleChange the source and everything built on top of it is flagged.
- Account & plansPlans and modulesWhat is in which plan, and what it looks like when something is not.
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