The Appraisal Format consists of detailed instructions and Excel spreadsheets to guide an experienced microfinance analyst through a qualitative, institutional evaluation of a relatively mature MFI. The Appraisal Format evaluation process covers the core components of a final evaluation report. The executive summary has quantitative and qualitative reviews of key conclusions and recommendations. Individual sections are devoted to institutional factors, MFI services/clientele/market, strategic objectives, and financial performance, respectively. The handbook's annex provides additional information on how to calculate theoretical interest yields.