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Stay appraised of all the latest business considerations in the jewelry industry! The report explains how jewelry stores operate, the nature of their revenue streams, value drivers, the industry environment, the risks involved, and other key factors.
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CPE events
REPLAY—Ethical Issues in Business Valuation, October 18, 10:00 a.m.-12:05 p.m. PT/1:00 p.m.-3:05 p.m. ET. Featuring: R. James Alerding (Alerding Consulting LLC) and John Barrett Jr. (Barrett Valuation Services Inc.). CPE credits: 2.5.
No do-over for valuation of business hit by COVID-19
In a Wisconsin marital dissolution case, COVID-19 negatively impacted the husband’s hair salon business, which had to shut down for a while.
Doe v. Trs. of Dartmouth Coll.
The defendant in this action, trustees of Dartmouth College, moved to have the testimony of the plaintiff’s expert as to lost wages and lost earning capacity excluded. The plaintiff had filed an action against the defendant for breach of contract and violation of Title IX by expelling him from Dartmouth’s Geisel School of Medicine. The court granted in part and denied in part the motion to exclude.
U.S. District Court Allows Expert Testimony on Lost Wages and Lost Earning Capacity in a Title IX Private Action
The defendant in this action, trustees of Dartmouth College, moved to have the testimony of the plaintiff’s expert as to lost wages and lost earning capacity excluded. The plaintiff had filed an action against the defendant for breach of contract and violation of Title IX by expelling him from Dartmouth’s Geisel School of Medicine. The court granted in part and denied in part the motion to exclude.
Barnes v. Barnes
The trial for this divorce case was extended almost eight months because the parties had assured the court it would be a three-day trial and it took four days. The fourth day was almost eight months after the end of the third day of trial. As a result, the husband argued that the value of his business should have been updated and consideration given to the effect of splitting the business’s real estate from the operations of the business. The appellate court noted that this issue had not been raised at trial and was, therefore, not appealable. Other issues not related to the business were issues for the appellate court.
Tennessee Appeals Court Affirms Trial Court Valuation and Trial Court’s Skepticism of Husband’s ‘Projections’
The trial for this divorce case was extended almost eight months because the parties had assured the court it would be a three-day trial and it took four days. The fourth day was almost eight months after the end of the third day of trial. As a result, the husband argued that the value of his business should have been updated and consideration given to the effect of splitting the business’s real estate from the operations of the business. The appellate court noted that this issue had not been raised at trial and was, therefore, not appealable. Other issues not related to the business were issues for the appellate court.
Taylor Precision Prods. v. Larimer Grp., Inc.
In the damages portion of this complex suit, the court determined damages based on the plaintiff’s expert’s determination and report of same. It awarded damages on the first component of his damages calculation, the damages based on an adjusted “lost” EBITDA, but not on the second component, which the court deemed to be speculative.
Plaintiff Awarded Direct Damages But Not Speculative ‘Growth Damages’
In the damages portion of this complex suit, the court determined damages based on the plaintiff’s expert’s determination and report of same. It awarded damages on the first component of his damages calculation, the damages based on an adjusted “lost” EBITDA, but not on the second component, which the court deemed to be speculative.
Confident Projections: Knowing & Implementing FP&A Methodology Into Projections
Financial experts use projections in business valuations, economic damages, and a multitude of other scenarios in practice. Understanding the source of data is one step, but assessing the quality of the data along with projections is critical for data quality as well as assessing the sufficiency and accuracy of management’s projections. Learn how to understand and assess the quality of projections and the quality of the professionals providing those inputs by joining Josh Shilts, who ...
Big turnout in the Big Easy for the ASA annual confab
About 600 appraisers (which included 150 online) of all disciplines enjoyed the 24/7 nightlife, Creole cuisine, great jazz—and some excellent education sessions—at the 2023 American Society of Appraisers International Conference in New Orleans last week.
Watch out for ‘black box’ compensation apps
During his session on reasonable compensation at the Forensic and Valuation Conference hosted by the Virginia State Society of CPAs, Neil Beaton (Alvarez and Marsal) discussed the various compensation benchmarking surveys and subscription databases.
ASA Rising Stars for 2023 honored in New Orleans
BVR, along with the BV recruiting firm Borrowman Baker, co-sponsored a cocktail reception for the winners of the 2023 Rising Stars (those under 40 years of age) award who were announced at the 2023 ASA International Valuation Conference in New Orleans.
ISBA appraisal review workshop November 9-10
The International Society of Business Appraisers (ISBA) is offering a two-day workshop for its Business Certified Appraiser in Review (BCA-R) credential.
Updates to two closed-end fund reports are available
Closed-end fund (CEF) data are commonly used to derive discounts for lack of control (DLOC) for closely held holding companies invested in marketable securities.
Global BV News: Next edition of IVS expected January 2024
Alexander Aronsohn, technical director at the International Valuation Standards Council (IVSC) told the audience at the 2023 ASA International Conference that there were 116 responses (i.e., comment letters) to the exposure draft for the updates to the International Valuation Standards (IVS).
BV movers . . .
Several individuals in the business valuation discipline at the American Society of Appraisers were honored at the organization’s 2023 International Conference: Lifetime Achievement Award.
CPE events
Confident Projections: Knowing & Implementing FP&A Methodology Into Projections. October 12, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Josh Shilts (Shilts CPA). CPE credits: 2.0.
Lack of BV credential triggers a Daubert challenge
In a bankruptcy case in South Carolina, the defendants moved to exclude evidence of an expert, which included his exhibits and valuation report.
Clampitt v. Clampitt
The husband appealed the family court’s valuation of the family business. In a brief opinion, the court of appeals (South Carolina) affirmed the family court’s value because the change in value during the litigation was attributable to the husband, the family court accounted for personal goodwill, and the valuation was within the range of evidence presented.
B.M. v. R.C.
The husband did not engage a valuation of his business, but the wife did. Her valuation expert arrived at a range of values, explaining that he lacked some information and that the information he did have regarding the financial status of the business did not reconcile. As a result, he set a range of values and determined that a range was the most appropriate way to determine the value. The trial court took an average of the range to determine the value for purposes of the marital estate. The supreme court affirmed the lower court decision to average the values.
South Carolina Appeals Court Affirms Value of Family Business—Within Evidence Presented
The husband appealed the family court’s valuation of the family business. In a brief opinion, the court of appeals (South Carolina) affirmed the family court’s value because the change in value during the litigation was attributable to the husband, the family court accounted for personal goodwill, and the valuation was within the range of evidence presented.
The Supreme Court of Alaska Affirms the Use of a Range of Value to Determine the Value of a Business
The husband did not engage a valuation of his business, but the wife did. Her valuation expert arrived at a range of values, explaining that he lacked some information and that the information he did have regarding the financial status of the business did not reconcile. As a result, he set a range of values and determined that a range was the most appropriate way to determine the value. The trial court took an average of the range to determine the value for purposes of the marital estate. The supreme court affirmed the lower court decision to average the values.
BV firms are thriving, per BVR’s benchmarking insights
The past few years may have been witness to the most demand, the best growth, and the highest profitability the business valuation profession has ever seen, according to the executive summary for the 2023 BVR Benchmarking Survey.
Points to know from the VSCPA conference
The annual two-day Forensic and Valuation Conference hosted by the Virginia State Society of CPAs is one event we never miss.
Reminder: Sample IRS forms for PDF extraction testing
Nambri TaxXL is a new application that automates the conversion of PDF tax returns into an Excel spreadsheet.