Business Valuation Update

In the June 2020 issue:
  • Assessing Additional Economic Risk Due to COVID-19
  • Alternate Valuation Methods in the Era of COVID-19
  • ESOP Case Appeal Stokes Controversy Over DOL Valuations
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Welcome to Business Valuation Update
The Business Valuation Update (BVU) has been the voice of the valuation profession since its inception in 1995. Each monthly issue includes new thinking from leading professionals, detailed reports from valuation conferences, analysis of new business valuation approaches, coverage of “landmark” legal cases in key business valuation issues, regulatory and standards updates, and much more!  Learn more and subscribe >>
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Assessing Additional Economic Risk Due to COVID-19

A template that can serve as a framework of thinking about the impact of the coronavirus on a subject company. The author presents a series of questions that help assess the short- and long-term risks with respect to the subject company’s industry, physical operations, financial issues, and firm management.

ESOP Case Appeal Stokes Controversy Over DOL Valuations

A series of court cases have generated controversy over the tactics and valuation methods the Department of Labor (DOL) has been using, including claims that the DOL has improperly redefined the term “fair market value,” does not follow generally accepted valuation principles nor standards, and continually uses an expert the valuation community deems “unqualified.”

Damage Valuation in a Financial Advisor Termination Case

In a wrongful termination of a financial advisor, the damage calculation involves a determination of the value of the advisor’s book of business at the time of termination as well as consequential and any special damages.

Cost of Equity and COVID-19: What to Do?

A forward-looking approach, implied volatilities, and total beta are used to determine an appropriate cost of equity during “unprecedented” times such as we have now to supplement one’s analysis.

BVU News and Trends June 2020

A monthly roundup of key developments of interest to business valuation experts.

Global BVU News and Trends June 2020

Business valuation news from a global perspective.

Alternate Valuation Methods in the Era of COVID-19

The authors address the impact of COVID-19 on the capital markets and offer alternate valuation methods that should be considered in these turbulent times.

A Revisit of ‘Known or Knowable’ and Subsequent Events in the COVID-19 World

The authors have a recurring client for whom they perform an annual valuation as of December 31. They give a best practice suggestion as to how to address the coronavirus in their valuation report. The article includes a COVID-19 timeline they developed.

A Veteran Valuer’s Guidance on COVID-19 and the ‘Soul’ of a Business

An interview with Robert Schlegel, FASA, MCBA (Houlihan Valuation Advisors), in which he gives his perspectives on our current economic environment and how that affects the business valuation community.

Perfect Storm: COVID-19 and 2020 Election—Unexpected Windfall for E&G Tax Planning

Insights into the impacts on the estate and gift tax area and the opportunities it presents for business valuers.

A View From the UK on the Cost Approach Amid the Current Crisis

The Cinderella of business valuation approaches is likely to make it to the ball when we start to count the economic cost of the present crisis.

Is History Repeating Itself? A List of BV Guidance From the 2008 Financial Crisis

Insights from business valuation history can give some degree of help during today’s crisis. Here are some blasts from the past courtesy of the search capabilities of the BVResearch Pro platform.

BVU News and Trends May 2020

A monthly roundup of key developments of interest to business valuation experts.

Global BVU News and Trends May 2020

Business valuation news from a global perspective.

The Valuation Paradigm of COVID-19: Using the DCF Method After an Economic Crisis

The challenge amid today’s market disruption is to revert back to the foundational elements of valuation and how to properly apply those “blocking and tackling” fundamentals during very untraditional times.

Book Review: Best Practices: Thought Leadership in Valuation, Damages, and Transfer Price Analysis

A “gem” is what this reviewer calls a new book by Robert F. Reilly and Robert P. Schweihs of Willamette Management Associates.

Adult Nightclubs: Company-Specific Risk at the Extreme

David Shindel (ShindelRock) and Rod Burkert (Burkert Valuation Advisors) pull back the curtains of adult clubs to reveal their operating characteristics, special risks, and valuation nuances that push the limits of company-specific risk.

Latest Update on Proposal to Upend Goodwill Accounting

Goodwill remains a very important valuation topic globally this year, and Business Valuation Update continues to cover the responses to initial efforts in the consideration of whether to upend the current goodwill impairment model and revert back to one of amortization of the world’s goodwill assets.

Expanded 2020 Edition of Mergerstat Review Builds on Prior Enhancements

Amid the rapid pace of mergers and acquisitions, important changes have been made to the 2020 edition of Mergerstat Review, including the return of the Industry Analysis chapter and new tables of global transaction rankings.

Accounting Issues to Consider When Valuing Construction Firms

Commercial and residential construction contractors use special methods of accounting that, if misunderstood by valuation analysts, can significantly impact a conclusion of value. This is a discussion of the main accounting issues for these firms.

BVU News and Trends April 2020

A monthly roundup of key developments of interest to business valuation experts.

Global BVU News and Trends April 2020

Business valuation news from a global perspective.

Market Volatility and Its Impact on the Valuation Advisors Pre-IPO Database

The recent stock market volatility has ripple effects on pre-IPO studies, which are used to estimate a discount for lack of marketability (DLOM).

Update on U.S. Cannabis Valuations From PKF’s Practice Leader

Noam Hirschberger talks about the rapid growth and heavy regulations that have triggered a need for financial and advisory services, including valuation and tax planning, that will be critical to the ongoing success of firms in the cannabis industry.

Goodwill Amortization Controversy and CEIV Highlight Fair Value in 2020

Mark Zyla (Zyla Valuation Advisors) gives some highlights of what’s on the front burner for fair value in 2020, including issues surrounding the FASB’s invitation to comment on the impairment of goodwill, an important update to the Certified in Entity and Intangibles Valuation (CEIV) credential, the increasing globalization of the profession, and upcoming guidance.

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