Here’s what you’ll see:

• “Have We Lost the Forest For the Trees?” (R. James Alerding, CPA/ABV, ASA). When BVR recently announced the launch of the Cost of Capital Professional, the author was pleased with its back-to-basics approach to estimating the cost of equity. The growing complexities of various aspects of business valuation prompted him to write this article, which speaks to the need to preserve the “art” of valuation.
• “Letter to the Editor: Calculation Engagements and USPAP” (Carla G. Glass, CFA, FASA, and Jay E. Fishman, FASA). In response to the recent controversy over the use of calculation engagements, BVU recently published several articles on calculation engagements. This letter is in response to those articles.
• “Building a Successful BV Practice Within a CPA Firm” (Robert E. Kleeman, Jr., CPA/ABV, ASA, CVA).A BV practice is very different from a CPA practice. Here are five fundamentals that can spell the difference between success and failure of a valuation practice within a CPA firm.
• “Rethinking the Traditional Levels of Value—Continuing the Conversation” (Andrew Strickland, FCA). While the representation of a hierarchy of value has served generations of business valuers well, it now needs to be reshaped. One concern is that the hierarchy has at its core the concept of the control premium, a concept that has become strained beyond the breaking point.
• “Work File Checklist for the Reconciliation of Intangible Asset Values” (BVR Editor). A practice aid based on the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangibles Valuation (CEIV) credential.
• “IVSC Annual Meeting Emphasizes Standards Adoption” (David L. Foster, CEO, BVR).Observations from the Annual General Meeting of the International Valuation Standards Council held October 22-24 in Dubai, UAE.

The issue also includes:

• An expanded section of “BV News and Trends/Global BV News and Trends.”
• Regular features: “Ask the Experts” and “Tip of the Month.”
• BV data spotlight: “DealStats MVIC/EBITDA Trends,” “ktMINE Royalty Rate Data,” “Economic Outlook for the Month,” and “Cost of Capital Center.”
• BVLaw Case Update: The latest court cases that involve business valuation issues.

To stay current on business valuation, check out the December issue of Business Valuation Update.