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1. Attention to detail – it’s usually the little assumptions or minor mistakes that can throw everything off
2. Understanding the business – knowing the business drivers and key cost ingredients
3. Knowledge of how changes in the environment will affect the business – this helps in sensitivity analysis as well as forecasting
4. Knowing the accounting practices of the target region (i.e IFRS or GAAP)
5. Avoid analysis paralysis – keep the materiality concept in mind
