Business Valuation Update
- How to Review a Report’s Valuation Methodology
- Ideas for Solving Two Problems in the BV Profession
- How Do Your Firm’s Benefits Stack Up?
- Using Rule of Thumb Data to Uncover Cooked Books
Ask the Valuer
Q: Do companies track the value of their corporate brand?
Ask the Valuer
Q: What valuation resource do you consider to be the most valuable?
Ask the Valuer
Q: Do you do site visits of competitors of your subject company?
Valuer’s Q&A Corner— Richard Stewart
Q: How does the choice of standard of value affect discounts and premiums?
Valuer’s Q&A Corner—Richard Stewart
Q: Can the distributor method be used to value the primary asset of the business? What if there is no highly comparable market data? What do you do with contributory asset charges and attrition and life?
Valuer’s Q&A Corner
Business Valuation Australia is pleased to offer the new column “Valuer’s Q&A Corner.” In each issue, BVA will answer your critical business valuation questions with tips and advice from BV thought leaders. Please email your questions to editorau@bvresources.com and look for responses in each issue of BVA.
Valuer’s Q&A Corner
This column is your opportunity to get answers on your most pressing business valuation questions with tips and advice from BV thought leaders. Please email your questions to editorau@bvresources.com and look for responses in each issue of BVA. In this issue, Richard Stewart (partner at PricewaterhouseCoopers) offers his advice on using IPO studies and restricted stock studies for discounts.
New Web site: BVResources.com
We are excited to announce the launch of our new Web site, BVResources.com, launching in June, and our "grand opening" celebration will be Thursday, June 22. We encourage you to access it and explore ...
Dr. Bajaj responds to Dr. Pratts February 2002 Editorial: Bajaj attacks restricted stock and pre-IPO discount studies; Pratt replies, defending studies, notes that debate may be semantic
In the last issue, Dr. Shannon Pratt critiqued my co-authored paper, Firm Value and Marketability Discounts, forthcoming in Journal of Corporation Law . 1, 2 I would like to take this op ...
Editor-in-Chief reflects on 10 years of Shannon Pratt’s Business Valuation Update®
This issue marks the 10-year anniversary of Shannon Pratt’s Business Valuation Update®. Editor-in-Chief Shannon Pratt recently took time to answer questions submitted to him regarding his life and business views.
Discounts for Lack of Marketability: Answering Your Latest Questions
BVResources’ recent telephone conference on discounts for lack of marketability (DLOM) inspired several questions that the panelists couldn’t get to during the allotted time.
Q&A with Howard Lewis on Unified Standards for Business Valuation Professionals
Members of NACVA and IBA have agreed on a unified set of standards that will take effect June 1. Howard Lewis, executive director of IBA, says the goal is to take the first step toward a professionwide unification of business valuation standards. Stuart W ...
Q&A with Howard Lewis
On July 16, 2008, IBA announced a plan to transfer its assets to a partnership including NACVA, ValuSource and KeyValueData. A new executive director was named—Howard Lewis, who spent 33 years with the IRS, including 8 years as the National Program Manage ...
Limited Partnership study documents large discounts from net asset value
Good guideline-company market data is the key to documenting discounts from net asset value for valuations of interests in holding companies, especially family limited partnerships. The data developed by Partnership Profiles’ editor Spencer Jefferies come as close as anything currently available to filling this need for the business appraiser. This article summarizes the latest findings and describes the scope and cost of the underlying data now available. -SP Partnership Spectrum’s 1996 study of 1,970 transactions ...
Excellent speakers and varied topics at the AICPA’s 2004 business valuation conference (Part 2 of 5)
The AICPA’s 2004 National Business Conference took place at the JW Marriott Orlando Grande Lakes Resort in Orlando, Florida (November 7-9, 2004).
New competition causes stock to plunge
In this article, Mozette spotlights a real-life example of the effect of one of the risk factors we warn about in our books (see sidebar below). This article certainly demonstrates the possible effect ...
The Last Word on Company-Specific Risk
In our final follow-up to Keith Pinkerton’s and Pete Butler’s article “Quantifying Company-Specific Risk: A New Empirical Framework with Practical Applications” (Feb. 2007 BVU) and their Q&A wrap-up (“…the Authors Answer Your Questions,” May BVU), we ...
Evidence suggests Equity Risk Premium lower than conventional wisdom thinks: Part 1 of 2
On June 5 and 6 Ibbotson Associates held their first-ever Cost of Capital and Equity Risk Premium Conference (as distinguished from their Cost of Capital Workshop, described in the sidebar on page 4).
ASA International Appraisers Conference Presentation Summaries
n Discount Settlements on Recent Family Limited Partnership Cases Curtis Kimball, ASA, CFA Willamette Management Associates Curtis Kimball discussed the increasingly popular medium for e ...
FSAS 157: What the Latest on Fair Value Measurements Means to Business Appraisers
The program at the sixth CICBV/ASA Joint Valuation Conference was rich and varied, with presentations on such hot topics as the new IRS appraiser/appraisal standards; the latest update on international BV standards; and emerging issues in fair value—inclu ...
Fair Value—More Disclosure, More Litigation, More Risk?
“It’s a myth that numbers in any form can replace judgment,” Jack Friedman, Chairman of Directors Roundtable, told a meeting of corporate lawyers and directors at the Harvard Club in New York City on April 11, 2008. “It’s also a myth that auditors or la ...
Judge David Laro addresses 1998 AICPA Conference
Judge Laro emphasized the importance of valuation in the tax context with an impressive statistic: Taxpayers file approximately 15 million forms per year with a valuation of some property included.
Acquiring companies want to know!
This article raises several interesting questions, each related to the allocation process of an acquired entity.
Top Ten Valuation Questions That Lawyers Love to Ask
A Sampling of Valuation Cross-Examination Questions, George B. Hawkins, ASA, CSA, American Journal of Family Law (Winter, 2006), pp. 266-275 ...
BIZMINER: The New Alternative for Industry and Market Research
Editor s note: Competitive analysis is essential to every business valuation report. This month, we ll look at the new offerings from BizMiner. Next month, Russ Glazer will review improvements in the RMA industry research tools available from ValuSource. BVR began offering the BizMiner databases in April 2009 as it became increasingly concerned about data and pricing problems with Integra. Like Integra, BizMiner s data collection and analysis methods correct for biases that occur when relying on single ...