Business Valuation Update Yearbook, 2024 Edition
January 2024 PDF, Softcover (401 pages)
BVR (editor)
Business Valuation Resources, LLC
Another year has come and gone and it's time again for one of BVR's “greatest hits” publications! The Business Valuation Update Yearbook 2024 covers the previous year’s most groundbreaking and thought-provoking advancements in valuation. It captures changes in regulations and professional standards, key takeaways from professional conferences, and tactical practice-building ideas. This critical desktop reference puts you ahead of the competition with on-the-ground reporting by the BVR editorial team including an Introduction by Andy Dzamba, BVR Executive Editor and insights from notable BV experts.
Section I. Business Valuation Specific Approaches, Methods, and Entity-Specific issues: This section covers topics including new research supporting three-stage DCF, a model for forecasting a multiple location business, and addressing market efficiency in appraisal hearings.
Section II. Cost Of Capital: Includes reports on private cost of equity, considerations for normalization of risk-free rates and a new update from Jim Hitchner
Section III. Business Valuation Conference Coverage: Key takeaways from this year’s biggest conferences that can have a major impact on how you do business.
Section IV. Legal, Regulatory, Standards: See our editorial teams’ picks for the most noteworthy cases of the year with an emphasis on how they enhanced our understanding of valuation issues.
Section V. Business Valuation Profession and Practice Management: Get a comprehensive run down on the biggest issues impacting BV practice management, including the acquisition of Vantage point by Stout.
Section VI. Reviews of Data Sources and New Books: Take a deep dive into 2023’s biggest publications such as the 2023 Business Reference Guide and a new damages guide focusing on the cryptocurrency landscape.
Section VII. U.S. and Global BVU News Roundup: Gain a broader understanding of the most impactful BV trends from around the world broken down by month for ease of reference.
Section VIII. Data: This is a compendium of the monthly cost of capital data originally presented in the Business Valuation Update newsletter.
Introduction
Section I. Business Valuation Approaches, Methods, and Entity-Specific Issues
How to Use the Latest DLOM Study for the Johnson/Park Empirical Method
New Research Strengthens Support for the Three-Stage DCF
The Valuation of Special Share Classes in the United Kingdom
New ‘Court Cases Method’ for DLOM Points Up a Conundrum
A Model for Forecasting a Multiple-Location, Growing Business
Simple Idea to Help Business Sellers Get All They Deserve
NICE DLOM Method for FLPs Gets Peer Reviewed
Adjusting the P&L for a Cannabis Dispensary Valuation
A Look Back: Including ESG in Valuation Models
Kick-Starting a CPT Revenue Analysis for a Physician Practice
By Mark O. Dietrich, CPA/ABV
Alerding Gives Some Insights Into AI and BV
It’s About Time: Webb on Fractional Interests in Real Estate
Valuers Run the Risk of Mismatching Inflation Assumptions
Damodaran Continues His Explosive Remarks About ESG
A Good Example of a Powerful Visual for a Valuation Report
How to Address Market Efficiency for Appraisal Hearings
The 2023 Cannabis Reset: A Redux of 2019?
By Ron Seigneur and Ryan Cram, Seigneur Gustafson LLP (Lakewood, Colo.)
Determining Working Capital Adjustments Using a Bardahl Analysis
Do Fairness Opinions Adequately Address Fairness to Shareholders?
By Gilbert E. Matthews, CFA, Sutter Securities, Inc. (San Francisco, Calif., USA)
Heat Maps for Valuing Venture-Backed vs. Closely Held Firms
Valuers Suggest Enhancements to AI-Powered PDF-to-Excel Tool
New Research Finds That Industries Have Different Growth Rates
CPT® Codes Drive Compensation, Business Valuation, and Regulatory Compliance in Healthcare
By Mark O. Dietrich, CPA
Bright Future for Automated Valuation Models—But Take Caution
Differences in Commercial Insurer Pay Rates Dominate Healthcare Valuation (Unless You’re Relying on Surveys)
By Mark O. Dietrich, CPA
SECTION II. COST OF CAPITAL
Feedback Wanted on New Model for Small Firm Risk
Private Cost of Equity Up, Per 2023 Pepperdine Report
Practical Considerations in Normalizing the Risk-Free Rate
By Ronald D. DiMattia, Corporate Value Partners Inc. (Cleveland, Ohio, USA)
Hitchner Updates the Risk/Return Spectrum for Cost of Capital
SECTION III. BUSINESS VALUATION CONFERENCE COVERAGE
Recap of the Biggest BV Event of 2022—the AICPA FVS Conference
COE Estimates From Leading Data Sets Are All ‘Very Close’
Takeaways From the Record-Breaking ASA New York Fair Value Conference
Fair Value, Statutory Appraisals, Crypto, ESG, PE Deals, and More at the NYSSCPA BV Conference
Takeaways From ASA’s ESOP Virtual Conference
Canada vs. U.S. Valuations: CBV Institute Conference Reveals Some Nuances
10 Short Takes From NACVA’s July Super Conference
Key Points From the VSCPA Forensic and Valuation Conference
What to Know From the 2023 ASA International Conference
SECTION IV. LEGAL, REGULATORY, STANDARDS
BVLaw Review: The Top Valuation Cases of 2022
The Walsh v. Preston ESOP Case—Is it a Victory or an Escape?
By R. James Alerding, CPA/ABV, Alerding Consulting LLC (Noblesville, Indiana, USA)
What Would a Hypothetical Willing Seller Do? A Complicated Case—A Confounding Decision in Idaho
By Peter J. Butler, Valtrend (Eagle, Idaho, USA)
One of My Favorite Court Cases Reveals What Makes a Guideline Company—It’s a Classic
By Gary Trugman, CPA/ABV, FASA, MVS, Trugman Valuation (Parkland, Fla., USA)
CMS Confirms That It’s Out of the FMV Business
BVLaw: A Look Behind the Curtain
By R James “Jim” Alerding, CPA/ABV, and Monique Nijhout-Rowe
Valuation Implications of the Changing ESOP Litigation Landscape
Valuation Matters Highlighted in the Estate of Cecil
By Rajesh Khairajani and Kinjal Shah, KNAV (Toronto, Ontario, Canada)
The CEIV Is Gone But the MPF Will Endure—Here’s an Example
A Behind-the-Scenes Look at the Cecil Case May Surprise You
Time to Engage Over Upcoming ESOP Valuation Rules
SECTION V. BUSINESS VALUATION PROFESSION AND PRACTICE MANAGEMENT
BV Year in Review 2022: Ongoing Challenges
An Inside Look at the Stout Acquisition of Vantage Point
BVR Survey Reveals Career Obstacles of Young BV Practitioners
More Insights From Young BVers About the Profession
Considerations When Adding Litigation Services to a Valuation Practice
Valuation Expert Gets Caught Up in a Plagiarism Nightmare
How One BV Practice Helps Train Its Young Professionals
BVR to Identify Top-Performing BV Firms and Practices
New Valuation Credential Set to Launch for Healthcare Compensation Experts
Valuers Are Now Spending More Time ‘on Everything’
BV Firm Billing Rates Shot Up in 2022
ASA Looks ‘Beyond’ Valuation to How to Build an Appraisal Career
Specialization Is the Key to Appraisal Career Success
Mercer Updates His State-of-the-BV-Profession Analysis
Next-Gen BV Practitioners Reveal Ways to Keep Them on Board
Student Business Valuation Challenge May Be Resurrected
SECTION VI. REVIEWS OF DATA SOURCES AND NEW BOOKS
Tom West’s Legacy to Appraisers: The Business Reference Guide
New Damages Guide Examines Crypto Landscape
New Country Risk Data Update Reminds Valuers of Factors to Consider
Industry Updates for Firms Most Impacted by the Labor Shortage
Damages Guide Editors Offer Insights and Advice to Valuers
New Book Offers Template for Assessing ESG Impact on Firm Value
Update on Current Inputs for Valuations Amid High Inflation
SECTION VII. U.S. AND GLOBAL BVU NEWS AND TRENDS ROUNDUP
January 2023 U.S. and Global News and Trends
February 2023 U.S. and Global News and Trends
March 2023 U.S. and Global News and Trends
April 2023 U.S. and Global News and Trends
May 2023 U.S. and Global News and Trends
June 2023 U.S. and Global News and Trends
July 2023 U.S. and Global News and Trends
August 2023 U.S. and Global News and Trends
September 2023 U.S. and Global News and Trends
October 2023 U.S. and Global News and Trends
November 2023 U.S. and Global News and Trends
December 2023 U.S. and Global News and Trends
SECTION VIII. DATA
Monthly Cost of Capital Data
