Here’s what you’ll see:

• “Letter to the Editor: Comments on the Cost of Capital Professional” (Eric Nath). A user who tested BVR’s new platform for estimating the cost of capital has some very thought-provoking comments on the use of historical data for the equity risk premium.
• “Response to Eric Nath’s Comments on the Cost of Capital Professional” (Ron Seigneur). Comments in response to the need to develop a “truly forward-looking required rate of return system that gives appraisers an understanding of how to estimate cost of capital for private companies and interests in private companies.”
• “Current Observations on the Valuation Impact of the TCJA” (BVR Editor). Based on sessions at the 2018 AICPA Forensic & Valuation Services (FVS) Conference in Atlanta.
• “Calculation Engagements: Still Broken, Still Bad” (Michael Paschall). A response to a number of rebuttals of the author’s previous article that strongly criticizes the use of calculation engagements.
• “Tips for Valuing—and Designing—Buy-in/Buyout Agreements for Medical/Dental Practices” (Mark O. Dietrich). After hundreds of engagements, the author identifies a number of best practices for both the valuation analyst and the consultant with respect to buy-in/buyout arrangements.
• “‘Oh, What a Tangled Web We Weave’: Recent Developments in Delaware on Investment Bank Liability for M&A Services” (Arthur H. Rosenbloom and Gilbert E. Matthews). Anyone who provides fairness opinions or other advice on company acquisitions or restructuring can be exposed to liability.
• “Work File Checklist for Documenting the Fair Value of Inventory” (BVR Editor). A practice aid based on the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangibles Valuation (CEIV) credential.
  
• “Update on the AICPA’s New CVFI Credential” (BVR Editor). Insights into the upcoming Certified in Valuation of Financial Instruments (CVFI) credential the AICPA is launching.

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 February issue of Business Valuation Update.