Many articles have been written and many debates had about what makes a good business valuation report, especially when determining a market value for Australian taxation purposes. Like many valuation professionals, I believe this is not just a matter of high mathematics, where each input and variable can be easily defended by the logic of readily available theorems. Compiling a good business valuation report requires extensive knowledge of businesses and industries; an understanding of economic, financial, and political environments; technical proficiency in applying both quantitative and qualitative judgment; and wisdom in writing a meaningful report.