The limited appraisal process involves the determination of the fair market value of a business entity, business ownership interest, security, or intangible asset with limited analyses, procedures, or scope. This process is typically not backed by due diligence. The report produced under a limited appraisal is referred to as the Calculation Report. Because business owners often have an idea of what their contingent liabilities are, they can express expectations of what the fair market value of the business could be.