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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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The Best Way to Work With Your Client’s Auditor
Part 11 of BVR's Online Symposium on Fair Value Measurement turns to the intersection of fair value measurement and fair value auditing. Acting as hypothetical appraisers and auditors, experts David Dufendach, Lisa Iizuka, and Jenetta Mason will walk attendees through how best to interact with auditors. Case studies will include audits for business combinations, equity-based compensation, and other common fair value scenarios.
Valuing What You Cannot See: Intangible Assets
Accounting has historically done a poor job dealing with intangible assets, and, as the economy has transitioned away from a manufacturing-dominated 20th century to the technology- and services-focused economy of the 21st century, that failure has become more apparent. The resulting debate among accountants about how to bring intangibles onto the books has spilled over into valuation practice, and many appraisers and analysts are wrong, in my view, letting the accounting debate affect how they ...
How Courts View Cost of Capital in Appraisal and Fairness Cases
As Gil Matthews writes in The Lawyer's Guide to Cost of Capital, "The cost of capital is central in business valuations in statutory appraisal, stockholder oppression, and 'entire fairness' cases." In this webinar, Matthews joins BVR for a look at what judicial proceedings and decisions can tell us about how cost of capital determinations should be performed for trial and deposition. Matthews will cover what can be gleaned from the canon of appraisal and fairness ...
Discount for Lack of Marketability for Any Restriction Period: Mastering the Average-Strike Put Option Model
Everyone knows that stock transfer restrictions limit a share’s marketability and reduce its value, but did you know the accuracy of value of an average-strike put option DLOM model worsens as the restriction period lengthens? Join John Finnerty for this master-level session on determining an accurate average-strike put option DLOM for whatever restriction period the engagement calls for. Be confident when others see complexity, and fortify your DLOM knowledge with step-by-step instructions in advanced scenarios.
Valuing Intellectual Property and other Intangible Assets
June 22, 2005 Teleconference Transcript; Panel: Matthew Crow (Moderator), Bob Goldman, Rick Hoffman, and Alfred King ...
The Use and Application of Option Pricing Modeling
The use and application of the Black-Scholes option pricing model in business valuation has come under increased scrutiny as of late. Since its inclusion in the AICPA's practice aid in 2004, critical examination and a deep economic downturn have drawn its use and appropriateness into question. Indeed, this model was the subject of rebutting articles in Business Valuation Update in January 2010 and March 2010: "Does Black Scholes Overvalue Early Stage Company Allocations?" and "Lognormal ...
Valuing Cannabis 2.0: Buckle Up, This is About to Get Interesting
The session will explore recent trends in valuing businesses and intellectual property in the cannabis industry. Appraisers often apply market-based metrics to historical data when performing traditional valuations. In the cannabis industry, history is not often indicative of the future and reliance on historical data may lead to inaccurate valuations. The value of businesses in established markets such as Colorado, Oregon, and Washington is different than the value of businesses in newly legal states or ...
How to Excel During Direct Examination
February 2003 Teleconference Transcript; Panel: Shannon Pratt (Moderator), Roger Dodd, James Hitchner, and James Mangraviti ...
Case Studies in Contingent Consideration
A significant component of the transaction price in an M&A or buyout transaction often consists of proceeds that are “contingent” upon the target company’s achievement of certain performance targets after the closing has taken place. From the perspective of the seller, “contingent consideration” represents the right to receive additional assets or equity interests from the buyer (earnout), or the obligation to return part of the proceeds from the transactions (clawback) if specified future events occur ...
Using Pricing Multiples and Rates of Return to Value Family Limited Partnerships
Do you value family limited partnerships (FLPs)? Do you know the proper application of pricing and rate of return data to derive a value using both the market approach and income approach? Do you know the best sources of empirical market data to use when valuing an FLP or other noncontrolling interest in a real estate-related entity, consistent with Rev. Ruling 59-60? Join this discussion on the practical application of the concepts discussed in Comprehensive ...
Reasonable Compensation
Reasonable Compensation Teleconference Handbook July 9, 2008 Moderator: Ronald L. Seigneur, MBA, CPA/ABV, CVA, Partner in Seigneur Gustafson LLP Panelists: Sharyn Maggio, CPA/ABV, Principle of Maggio & Company, Stacey ...
Valuing Hospitals
In the ongoing consolidation trends in the healthcare sector, hospitals are functioning as both acquirer and acquiree. For the business appraiser, this represents tremendous opportunity—opportunity that requires a thorough understanding of these trends as well as knowledge of the new regulations that drive them. In Part 7 of BVR's 2014 Online Symposium on Healthcare Valuation, experts Don Barbo and Robert Mundy delve into the changing world of hospital economics, regulations, and valuations to show how ...
The Valuation of Hospitals
Highly regulated, highly fragmented, and uniquely nuanced, hospitals, as a group, can be surprisingly difficult to define. For the appraiser tasked with determining a value to any one of the nearly 6,000 hospitals in the U.S., these and other challenges can greatly impair the valuation process, throwing a defensibility of any valuation conclusion into doubt. In part 2 of BVR's 2012 Online Symposium on Healthcare Valuation, BVR welcomes experts Don Barbo and Robert Mundy for The ...
Comparison of Economic Damages and Business Valuation Methodologies
February 2005 Teleconference Transcript; Panel: Robert Dunn (Moderator), Marci Bour, Ev Harry, and Bonnie Goldsmith ...
The Million Dollar Question… Who Do I Want To Be When I Grow Up?
It’s a question we all ask ourselves throughout our career—or at least should. Whether we’re a fresh business face or a seasoned veteran, reminding ourselves about the ultimate goal—the big picture—is crucial for a successful career—and life. Join us for an insightful and necessary discussion of the top 10 list for achieving happiness, fulfillment, and balance in a professional world that is constantly working against us.
Enterprise vs. Personal Goodwill: Case Studies With Legal Insights
Spend the afternoon with the “goodwill”-fellas in this case study-led session. Jim Alerding will guide you through the excess earning methods including potential modifications. MUM (multiattribute utility model) is the word for expert Ron Seigneur, who brings his experience and enjoyable perspective to the conversation. Harold Martin will focus on valuing the intangible assets as a potential third approach for keeping enterprise and personal goodwill on their respective turf.
Business Interruption
Business Interruption Teleconference Presentation and Transcript December 12th, 2007 Moderator: John Stockdale Panelist: John Marcus of Marcus, Hastings & Associates © 2007 Business Valuation Resources, LLC All Rights Reserved Business Valuation ...
Projecting But-For Profits
Do you feel like being asked to calculate but-for profits feels like an engagement in another dimension? Calculating the harmed party in a position that it would have been “but for” the alleged acts is an advanced skill for appraisers. Join expert and contributing author to The Comprehensive Guide to Economic Damages, Stacey Udell, for a discussion of different strategies to determine net lost profits including the critical step of removing incremental costs that did ...
Valuing Imaging Centers
Imaging centers are in demand. As the technology on which these entities rely continues to advance, drawing in patients and referrals, consolidation trends in the healthcare economy are leading to alliances and acquisitions of imaging centers. In either case, valuation challenges abound, requiring of the appraiser a strong understanding of imaging center operations, economics, and regulations, as well as trends in the wider healthcare marketplace. Part 8 of BVR's 2014 Online Symposium on Healthcare Valuation ...
Practical Considerations for Valuing Imaging Centers
One thing consistent in healthcare is change. With continued increasing regulatory initiatives and consolidation and integration in the healthcare delivery system, imaging centers continue to be an area of focus for healthcare valuations. Trends in the healthcare economy are leading to alliances with, and acquisitions of, imaging centers by a variety of suitors. Valuation challenges abound, requiring the professional valuator to be able to demonstrate a strong understanding of the factors of influence on imaging ...
Using Option Pricing Models to Quantify Discounts for Lack of Marketability
Many valuation professionals struggle with applying option pricing models to estimate discounts for lack of marketability (DLOM). With multiple option pricing models including European put options, shout put options, look-back put options, Asian put options, forward-starting put options, and perpetual exchange options, there is complexity that cause many to steer clear of options for purposes of estimating DLOM. Josh Angell clearly and practically explains the theoretical basis for the option models, as well as explores ...
Valuing a Business Worth Less Than $2 Million
Small-company valuations have always presented a unique challenge to business appraisers, with a lack of guideline comparables, peculiar reliance on key-person discounts and premiums, and compensation analysis challenges being just a few of the obstacles in the valuation process. Now, having weathered the economic storm of the past few years, small-company valuations are more challenging than ever as they face a new and developing market and regulatory environments. On April 28, BVR welcomes experts Ron Seigneur ...
EBITDA Single-Period Income Capitalization for Business Valuation
The focus on the EBITDA of private companies is almost ubiquitous among business appraisers. Join Chris Mercer to learn about the relationship between depreciation (and amortization) and EBIT as one measure of relative capital intensity. This relationship, "the EBITDA Depreciation Factor," is then used to convert debt-free pretax (i.e., EBIT) multiples into corresponding multiples of EBITDA. Mercer presents analysis that illustrates why the pervasive rules of thumb suggest that many private companies were worth 4.0x ...
Benchmarking With BizMiner: Live Demo and Case Study (Free Webinar)
Benchmarking your company financials provides the inputs for quantitative adjustments and lends confidence to your qualitative adjustments. Having the most granular industry statistical reports in the market allows you to perform better analysis. Join Galen Pugh for a demonstration on how to use BizMiner’s robust data set, and experience the features of their new Industry Financial and Industry Market Report. See BizMiner in action with a case study presented by valuation expert Don Drysdale. For ...
Insights and Intel on the Cannabis Industry
Join Ryan Cram and Ron Seigneur for a lively discussion of the current and emerging landscape for business valuation analysts and other professional advisors to the cannabis sector with a focus on the risks and rewards of being involved in the cannabis industry drawing on over 20 combined years of industry experience working marijuana and hemp/CBD clients throughout the country, both large and small. Explore the unique nuances associated with business and intellectual property appraisal ...