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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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Recent Developments Trigger a Fresh Look at DLOM
In the field of business valuation, there is no consensus as to an overall approach in reaching a conclusion as to a discount for lack of marketability (DLOM). Practitioners focus on a lot of individual procedures, and there is debate over these methods.
A Reflection on Low Risk-Free Interest Rates
Although business appraisals often do not concern themselves with the details of monetary policies, given the current low-interest-rate environment, it’s useful for appraisers to have a historical perspective, in addition to understanding some of the rele ...
BVU News and Trends January 2020
A monthly roundup of key developments of interest to business valuation experts.
New World of Energy Valuations, Per Speakers at the ASA Houston Conference
How have valuations been upended in this sector? What’s the outlook for all of the regulatory and tax proposals? When will this sector rebound? The answers may surprise you.
Forecasting Expenses for an Economic Damages and Lost Profits Analysis
Several experts at the two-day BVR National Economic Damages Virtual Conference discussed projections in a damages and lost profits context. This article focuses on projecting expenses.
2007: A Year of Simplifying, Standardizing—and More Fair Value Statements
Has fair value for financial reporting and FASB pronouncements overshadowed the business valuation landscape? There’s no doubt that with this past year’s effective date of SFAS 157, the release of SFAS 141R, and the formation of its Valuation Resource Gr ...
Top Experts Converge at The Recent DLOM Summit
The first-ever Summit on Discount for Lack of Marketability (DLOM), co-sponsored by BVResources and the University of San Diego School of Law, brought together the top thought leaders and an unprecedented slate of professionals on this critical and contro ...
Discounts, Tax Affecting, & Fast Appeals: Insights from Recent IRS Roundtable
“It shouldn’t be any surprise to you that the number one issue we deal with is the reasonableness of discounts, most often in estate and gift tax cases,” Susan Kurzweil, CPA, ASA, and IRS national business valuation issues coordinator, told attendees at ...
Dynamic Defense and Government Services Market Creates Opportunities for Valuation Practitioners
The defense and government services sector faced an uncertain climate in early 2010, but by the end of the year, the levels of M&A activity had risen to a level not seen since the 2006-2007 peak. Increasing M&A activity always drives demand for business v ...
Indirect Profits From Copyright Infringement: Establishing a Connection Between Profits and the Infringement
A client calls about a copyright infringement case for which he would like to hire you as a damages expert. He represents the plaintiff in a case involving copyrighted mortgage analysis software that was used without license by the sales staff of a large ...
Government Contractors With Set-Aside Status Require Risk Adjusted Timeliness
Thousands of businesses contract with the federal government. Although the top 20 government contractors account for approximately 34% of the government market, the remaining 66% is held by mostly small, closely held businesses. Dan Golish recently wrote ...
BVU Profile: NACVA Porter Award Winner Offers Advice and Insights to Valuation Experts
Editor's note: P. Dermot O’Neill has over 40 years of experience as a CPA with a diverse background and practice. He is the president of P. Dermot O’Neill, CPA PC, which concentrates on business valuation, forensic accounting and litigation support, trans ...
A Dozen Action Ideas From NACVA’s 25th Anniversary Conference
One of the great benefits of attending conferences is the ability to gather all kinds of interesting and useful tips and advice from leading valuation practitioners. Here is just a sampling of what we picked up at the 25th anniversary conference of the Na ...
Determining the FMV of Small Privately Held Promissory Notes
The appraisal of promissory notes is an area of business valuation that has not received much attention from academic journals. Appraisers are taught to use corporate bonds as comparable investments, but they are much too large and marketable to be used as a proxy for most privately held promissory notes. This article introduces the concept of using Business Development Company (BDC) rates to value small promissory notes.
BV News and Trends January 2024
A monthly roundup of key developments of interest to business valuation experts.
Errors in Valuing Oil and Gas Properties in the Marcellus Shale
In early 2008, my firm, Richard J. Miller & Associates Inc., was asked to do appraisals of oil and gas rights owned by three hunting clubs in Lycoming County, Pa. The rights had been leased with the apparent objective of developing natural gas production ...
Valuations steady for A/E firms, per new study
Valuations of minority interests in privately held architecture, engineering, and environmental consulting firms (A/E firms) held steady from 2017 to 2018, according to a new study.
Reporting Standards Update: What all BV Analysts Must Know
The past two years have witnessed a good deal of activity regarding professional business valuation standards. How can busy BV professionals keep up with the changes? In the United States, professional business valuation standards are promulgated1 by the ...
ISO 10668 and Brand Valuations: A Summary for Appraisers
In 2010, a major proprietary brand valuation service, BrandZ, ranked Google’s brand number one in the world, with a value of $114 billion. Interbrand, another highly respected brand valuation organization, put it only in fourth place, with a meager $44 bi ...
Pension Plans: The $20 Trillion Elephant in the (Valuation) Room
Company pension plans are ticking time bombs that could have a devastating impact on enterprise value. Massive underfunding, along with complicated plan economics, makes it crucial for appraisers to have a solid grasp of the ins and outs of these plans an ...
BVU Profiles: Pablo Fernandez - More Common Sense—Less Theory and Models—Needed in Business Valuation
Pablo Fernandez is a professor in the department of financial management at the University of Navarra—IESE Business School in Spain (ranked No. 5 in the world for full-time MBAs). A widely published author, he conducts a survey of market risk premiums and ...
Restricted stock discounts decline as result of 1-year holding period
This article addresses the changes in the marketplace for restricted securities that have occurred since 1990 and the impact that those changes have had on the overall level of discounts for lack of marketability for these securities.
How the New QBI Deduction Impacts the Hypothetical Buyer and Seller
Part 1 of a two-part article on the impact of the new tax law’s Qualified Business Income (QBI) deduction for pass-through entities in determining estimated after-tax cash flow at the investor level, as well as the related change in the fair market value of the entity.
Estimating a COVID-19 Marketability Discount for Small Businesses
A framework of thinking for developing a marketability discount for a majority interest on a small business in the wake of the pandemic.
BV News and Trends March 2024
A monthly roundup of key developments of interest to business valuation experts.