Business Valuation Update
- Perception Grows of Bias in U.S. Valuation Experts
- Popular Real Estate DLOC Database Is Not Going Away
- Key Points From Hitchner’s Annual BV Update
- What to Glean From the IRS Hiring Binge for BV Experts
What Research Sources Do You Use?
Business valuation professionals depend on information, Often, their competitive advantage (not to mention their ability to withstand opposing points of view) is dependent on their knowledge of proprietary, unimpeachable sources. The 2011/2012 BV Firm ...
What to Know From the 2023 ASA International Conference
A recap of several sessions on topics that include the main takeaway from the keynote, use of data amid uncertainty, divorce engagements, SAFE investments, the three-stage DCF, IRS targets, ESG issues, and more.
Fairness Opinions in Affiliated Party Transactions - Part 2
This is the second part of a two-part article that discusses fairness opinions in affiliated party transactions. Part I of this article (March 2011 BVU) focused on what fairness opinions address, criticism of fairness opinions, and Delaware law’s impact ...
BVU News and Trends August 2018
A monthly roundup of key developments of interest to business valuation experts.
BVLaw Review: The Top Valuation Cases of 2021
Here is our pick for the state and federal court decisions that enhanced our understanding of valuation issues as they arose in a litigation setting during 2021.
Distinguishing and measuring personal goodwill in a litigation setting Part 2 of 2 parts
We have published this article on personal goodwill in two parts. The first part of the article, printed in the July 2001 BVU, gave a background on recent court cases that involved and distinguished b ...
Can We Ever Reconcile the Market and Income Approaches?
“Market comps have inherent limitations,” began Don Wiggins (Heritage Capital Group) in his keynote address at CICBV/ASA Business Valuation Conference in Miami Beach on October 4. The most common that the best practitioners immediately recognize are ...
Proper Valuation of Promissory Notes Requires Qualified Business Appraisers
Promissory notes are not something that appraisers are often asked to value. It seems simple enough—value is the unpaid principal plus accrued interest—right? The answer is no longer so simple. With increased IRS scrutiny (and power to impose appraisal pe ...
Several Trends of Note in Valuation Cases in the United Kingdom
A number of recent court cases in the UK are important to valuation. Matrimonial decisions continue to introduce valuation concepts beyond “fair value,” and, on the topic of goodwill, a recent case went contrary to the expectations of most business valuers.
Insiders Examine Michael Jackson Estate Valuation Dispute
Testifying experts for the estate give their main takeaways from this fierce dispute with the IRS.
Next-Gen BV Practitioners Reveal Ways to Keep Them on Board
Opportunities for career growth, exposure, work-life balance, and good old-fashioned recognition are some of the ways to keep today’s young valuation practitioners from jumping ship. The profession faces the issue of attracting and retaining young talent, so their insights are particularly helpful.
Special Issues When Valuing Private Equity Portfolio Company Private Stock
When a private equity (PE) firm acquires a controlling interest in a company in a buyout transaction, a new capital structure typically is put in place. The new capital structure may comprise senior debt, subordinated debt, preferred equity, common equity ...
Seven Takeaways From Recent Business Valuation Cases
Many business valuation cases work their way through the courts, but only some of them have a significant impact on the profession. That handful of important cases is the subject of a regular webinar update by BVR’s legal editor, attorney Sylvia Golden, a ...
Recap of the VSCPA Forensic and Valuation Virtual Conference
Topics at the Virginia CPAs’ event included COVID-19, the use of statistics for lost profits, key federal tax cases, personal goodwill, forensics, reasonable compensation, and cybercrime.
Pandemic, ESOP Woes, Fair Value, Crypto, and Fraud at NYSSCPA Conference
The 2020 conference season is underway, and Business Valuation Update was on the scene—virtually, of course—for the New York State Society of CPAs Business Valuation/Litigation Services Conference webcast live from New York City May 18.
Business Valuation Year in Review 2017
It was another eventful year for the business valuation profession, and here’s a wrap-up of notable developments of 2017.
Valuation of Dual Class Shares
The high-profile class action lawsuit between minority shareholders and Hollywood icon Jeffrey Katzenberg over the additional consideration being paid to him in the sale of DreamWorks to Comcast puts the spotlight on “dual class” companies. Dual class c ...
Q&As on the Impact of the 2017 Tax Act on Business Valuation
Chris Mellen (Valuation Research Corp.) adds to the evolving discussion about the impacts of the new tax law on business valuation. Part of a series.
The Cost Approach May Be the Best for Construction Firms—Here’s Why
The nature of construction firms is such that the use of some valuation approaches may pose problems. Although the valuation of construction firms may be speculative, in many cases, the U.S. Tax Code and the Financial Accounting Standards Board’s Accounti ...
BVLaw Review: The Top Valuation Cases of 2022
Here is our pick for the most noteworthy valuation cases that emerged over the past year. They include state and federal court decisions covering many areas of law that enhanced our understanding of valuation issues as they arose in a litigation setting.
2010 BV Megatrends: How Will They Affect Your Practice?
It’s been nearly 30 years since Megatrends: Ten New Directions Transforming our Lives (John Naisbitt, 1984) was a megahit.
Valuation Concepts Have Undergone Massive Changes in Thinking
It’s difficult to think of any valuation concept or methodology that has not undergone significant changes in thinking since 1995, when Business Valuation Update was first published. Also, there is a continued questioning of standard practices and convent ...
Revisiting the Meaning of Fair Market Value
We all know the classic definitions of fair market value from Revenue Ruling 59-60 and the International Glossary, which I’ll repeat here for sake of clarity (see sidebar). At its core, fair market value (FMV) asks the appraiser to answer the question of ...
So You Want to be in Litigation? How to Top a Lawyer’s List
Last month BVU gave you the “View from the Bench”—what judges want and expect from BV experts in the courtroom, which was gleaned from the panel discussion at BVR’s recent Summit on Business Valuation in Divorce. This month we give you the lawyers’ perspe ...
A SWOT model for quantifying the company-specific risk premium
The valuation community has refined and created methodologies that draw the art closer to a science, with varying degrees of success.