Here’s what you’ll see:

• “Attorney’s Slant on Three Methods to Estimate Personal Goodwill” (BVR Editor). A family law attorney as well as several top valuation experts recently provided interesting perspectives that take the discussion of allocating enterprise and personal goodwill to an entirely new level. Discussed are a twist on the excess earnings method, the new concept of “pure” personal goodwill, the strengths and weaknesses of the multiattribute utility model (MUM), and a new residual method based on the purchase price allocation concept.

• “Do You Share Business Valuation’s ‘Dirty Little Secret’?” (BVR Editor). There’s a perception that too many valuation experts simply accept projections and forecasts they’re given without applying enough scrutiny. New guidance is available on how to examine and substantiate prospective financial information (PFI) you get from management or other third parties.

• “Damodaran’s New Book on the Power of Stories in Valuation” (BVR Editor). Dr. Aswath Damodaran (New York University Stern School of Business) has a new book, Narrative and Numbers, The Value of Stories in Business, which is a must-read for valuation experts. This article details his five steps to effectively developing a narrative when constructing valuations.

• “Time to Update the Guiding Principles to a Valuation Report” (Robert E. Kleeman Jr., OnPointe Financial Valuation Group LLC, Englewood, Colo.). A 40-year veteran of business valuation says new complexities trigger the need to take the elements of a good valuation report to the next level.

• “Key Value Drivers and Valuation Issues for Solar Power Firms” (BVR Editor). Rick Daubenspeck of BDO Consulting gives his insights in this excerpt from the latest in the series of BVR’s What It’s Worth guides: Valuing Oil, Gas, and Alternative Energy Assets.

• “Discovering the Drivers of Employee Equity Value—Part 2” (Jason Murphy, Pitcher Partners, Melbourne, Australia). This is the second in a number of articles on valuing employee equity, and it discusses performance conditions in greater detail.

• “Look Before You Leap Into Offshoring Some Valuation Components” (Bharat Kanodia, Veristrat Inc., San Francisco and New Delhi, India). Many valuation experts rule out outsourcing certain—or all—valuation work. For those who consider it, here’s what to think about.

The issue also includes:

• Regular features: “BV News At-a-Glance/Global Perspective,” “Ask the Experts,” and “Tip of the Month.”

• BV data spotlight: Pratt’s Stats 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 May issue of Business Valuation Update.