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Jim Hitchner, CPA/ABV, ASA
James R. Hitchner, CPA/ABV, ASA is Managing Director of The Financial Valuation Group (FVG) in Atlanta, Georgia. FVG is a national financial advisory services firm specializing in valuation and litigation services. He is a founding member and current president of the Financial Consulting Group, L.C. (FCG). FCG is a national association of professional services firms dedicated to excellence in valuation, financial and litigation consulting.
Mr. Hitchner has more than 28 years of professional experience, including 26 years in valuation services and two years in real estate development. He spent over seven years with Phillips Hitchner Group and was also partner-in-charge of valuation services for the Southern Region of Coopers & Lybrand (currently PricewaterhouseCoopers), where he spent more than nine years. He was also employed as a senior appraiser with the national appraisal firm American Appraisal Associates in both the financial and industrial valuation groups.
He has been recognized as a qualified expert witness and has provided testimony on valuations in numerous state and federal courts. In the valuation area he has co-authored over 20 courses, taught over 50 courses, published over 50 articles, and has made over 100 conference presentations including the American Institute of Certified Public Accountants, the American Society of Appraisers, the National Association of Certified Valuation Analysts, and numerous state CPA societies. He has also been a faculty member teaching valuation courses for judges for the National Judicial College and the Flaschner Judicial Institute.
Mr. Hitchner iseditor/co-author of the book Financial Valuation Applications and Models, second edition; co-author of the book Financial Valuation Workbook second edition, and co-author of the book Valuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis—SFAS 141 and 142 all published by Wiley. The American Institute of Certified Public Accountants (AICPA) offers a six-day Business Valuation Essentials course created by Mr. Hitchner and based upon his book. The National Association of Certified Valuation Analysts (NACVA) offers a three-day Advanced Business Valuation course created by Hitchner and based on his book as well. He is editor in chief of Financial Valuation and Litigation Expert, a bimonthly journal that presents views and tools from some of the leading experts in valuation, forensics/fraud and litigation services.
He is an inductee in the American Institute of Certified Public Accountants’ (AICPA) Business Valuation Hall of Fame and current member of the AICPA task force on Business Valuation Standards. Mr. Hitchner is past chairman of the Business Valuation Committee of the Georgia Society of CPAs, past member of the AICPA Business Valuation Subcommittee, past member of the AICPA ABV exam committee, past chairman of the ABV exam review course committee, contributing editor of AICPA CPA Expert newsletter, and a former member of The Appraisal Foundation Industry Advisory Council. He has a Bachelor of Science degree in engineering from the University of Pittsburgh and a Masters of Business Administration degree from Rider University. He holds the AICPA Accreditation in Business Valuation (ABV) specialty designation and also is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers.
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Gary Trugman,CPA/ABV, MCBA, ASA
Gary Trugman is president of Trugman Valuation Associates, a firm specializing in business valuation and litigation support services. His business valuation experience includes a wide variety of assignments including closely-held businesses, professional practices and thinly traded public companies. Industries include but are not limited to security, automotive, funeral homes, health care, securities brokerage and financial institutions, retail, manufacturing, service, and professional business establishments. Assignments have also included the valuation of stock options and various types of intangible assets.
Business valuation and litigation support services have been rendered for a variety of purposes including, but not limited to family law matters, business damages, lender liability litigation, buy-sell agreements, shareholder litigation, estate and gift tax matters, buying and selling businesses, malpractice litigation, wrongful death, sexual discrimination, age discrimination, wrongful termination, and breach of contract. Representation in litigation includes plaintiff, defendant, mutual, and court-appointed neutral.
Court Testimony. Has been qualified as an expert witness in State Courts of New Jersey, New York, Pennsylvania, Connecticut and Florida, Federal District Court in Newark, New Jersey and Hammond, Indiana, and has performed extensive services relating to court testimony. Testimony has also been provided in arbitration cases before the National Association of Securities Dealers and the American Stock Exchange, as well as other forms of arbitration.
Court Appearances. Has appeared in the following courts: New Jersey -- Morris, Sussex, Bergen, Burlington, Passaic, Mercer, Middlesex, Monmouth, Essex, Hunterdon, Warren, Hudson, and Union. New York -- Bronx and Westchester. Florida -- Palm Beach, Polk and Lee . Connecticut -- Fairfield, Milford/Ansonia, Middlesex. Pennsylvania -- Montgomery, Lehigh. Massachusetts -- Middlesex. Indiana -- Marion. California -- San Jose.
Court Appointments. Has been court appointed in New Jersey's Morris, Sussex, Essex, Union, Hunterdon, Somerset, Monmouth, Middlesex, Passaic, Warren, Bergen, and Hudson counties by numerous judges.
Mutual Expert. Regularly serves as a mutually-agreed upon expert.
Early Settlement Panel. Has served on the Blue Ribbon Early Settlement Panel in Sussex County.
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Jim Alerding, CPA/ABV, ASA, CVA
Mr. Alerding has been actively involved with the valuation of businesses since 1980. In addition to valuing a number of businesses each year, Alerding also lectures frequently on the subject of valuations of closely held businesses, and has produced a number of treatises and several articles on the subject. In 1994, Research Institute of America (RIA), a national publisher of tax and businesses books and materials, published two books written by Mr. Alerding, entitled Purchase or Sale of a Closely Held Business and Valuation of a Closely Held Business. In 1997, RIA released the Second Edition of Valuation of a Closely Held Business authored by Mr. Alerding.
Mr. Alerding has and does perform valuations for many diverse purposes, including purchases or sales of businesses, buy/sell agreements, estate and gift tax matters, bankruptcy proceedings, damage cases, charitable contribution deductions, ESOPs, divorce cases, and other matters. Mr. Alerding has assisted a number of businesses in the sale of the business or assisted buyers in the purchases of businesses. Mr. Alerding has assisted bankruptcy courts in determining the value of a business for purposes of a restructuring, sale to outside parties, or liquidation of the bankruptcy estate as well as accounting and assistance to creditor’s committees.
Mr. Alerding's experience in valuation has also resulted in substantial experience on litigation matters relating to business valuation issues, having testified well over two hundred times on such matters. As such, Mr. Alerding is more appropriately suited than most valuators in assisting clients and their counsel in litigation issues that might arise in relation to the valuation. Mr. Alerding is uniquely qualified to back up his valuation with testimony in a court of law if necessary.
Mr. Alerding is Accredited in Business Valuation (ABV) by the American Institute of Certified Public Accountants. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers in the discipline of Business Valuation. He is also a Certified Valuation Analyst (CVA) of the National Association of Certified Valuation Analysts. Mr. Alerding is also a Certified Public Accountant (CPA) in the States of Indiana and Maryland.
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