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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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Discounted Cash Flow: Speculative or Convincing
Gary Trugman and Harold Martin will discuss, debate, and dissect the pros and cons of using a discounted cash flow analysis, particularly in times of COVID-19. With questions such as how to handle the unknown future, when and how to use past performance to forecast the future, what to do when management gives you a forecast that you do not believe, and what to do when management is incapable of giving you a forecast at ...
Practical Applications of DLOM: Methods and Data (Part 1)
From rules of thumb to complex approaches, determining what methods to use can be as difficult as determining the actual discount for lack of marketability. Join Pasquale Rafanelli and prepare yourself for upcoming DLOM engagements. In Part 1, learn the pros and cons of each method and how to apply and support them. See these concepts applied in the case study-based Part 2.
Carried Interest—What's it Worth?
Join Vladimir Korobov and Kyle Garcia for an overview of private equity funds and other alternative investment vehicles with similar characteristics in general and discuss situations that require business valuation. With discussion of the valuation of carried interests including the general approaches used for valuation, you’ll get helpful tips when undertaking engagements for these unique assets. Learn to address issues of the fund life cycle and the valuation methods applicable in different stages. Practical examples ...
Dividing Goodwill: A Case Study in Active and Passive Appreciation
When a couple divorce, who gets the goodwill? Understanding how to correctly determine wealth appropriation is a “must-know” skill, but it is difficult to master. The most troubling issue with active and passive appreciation in divorce cases is applying a method based on empirical evidence and a clear common sense framework. Ashok Abbot demonstrates a methodology and supporting evidence to successfully isolate passive appreciation. Work through practice-ready examples across several industries and you’ll be sure ...
Don’t Make Me Call Security!: How to Consider Data Security in a Business Appraisal
Cyber liability is of increasing concern for business owners and executives. With the average total cost of a single data breach of $8.19 million in the U.S., shareholder value can be wiped out with the click of a mouse. Cyber risk is a relatively new risk yet is a particularly lethal one. According to Inc. Magazine, 60% of successful cyberattacks force the target business to close. Appraisals that fail to explicitly address this risk are ...
Retail, Urgent Care, Micro Hospitals and Beyond: Alternative Care Settings and Valuation
Alternative care access points—retail clinics, urgent care centers, freestanding emergency departments, and micro hospitals—have proliferated. In many cases, these programs are thriving in a consumer-focused, value‐based healthcare environment. Hospitals and health systems are recognizing the potential value of developing and integrating these alternative care sites. In addition to supporting population health management, these access points can be profitable and can provide a relatively low‐cost approach to new patient acquisition and the potential for downstream revenue.
Step Up Your Game: Effective Business Appraisal Reporting
The final step in any business appraisal process, crafting the report can be the most critical. As the audience receiving, reviewing, and consuming these reports grows more sophisticated and critical, valuation reports must respond with enhanced user-friendliness and intuitive appeal without compromising on required content and disclosures. In Step Up Your Game: Effective Business Appraisal Reporting, expert appraiser Timothy Lee and attorney L. Paul Hood Jr. will inspire some alternatives and enhancements to the status ...
Valuation Jubilee: Celebrating BVR’s 500th Event
Don’t miss the all-star lineup for the "Valuation Jubilee: Celebrating BVR's 500th Event." Spend a half day listening to this master class session and learn from the profession's thought leaders as they deliver concise lessons that make an extraordinary impact on your practice and career. Hear expert after expert share the knowledge they’ve gained throughout the years. The business valuation profession has progressed (and so has BVR, remember our teleconferences, anyone?), and we are excited ...
Lost Profits Calculations: Methods and Procedures
In the first installment of BVR's Webinar Series on Damages Essentials, experts Robert Gray and James O'Brien will show the methods and procedures by which lost profits calculations are made. Though built on the same foundations and techniques as most appraisal work, the task of building an unimpeachable lost profits calculation is based upon the rules of the courts in matters of both evidence and technique. The difference between success and failure in this arena ...
A Masterclass in the Valuation of Family Limited Partnerships and LLCs (A BVR Web Workshop)
As professional appraisal methodology has advanced, so has the valuation of family limited partnerships (FLPs) and limited liability companies (LLCs). Adopting an analytical method for valuing FLPs and LLCs using the income and market approaches allows appraisers to more accurately and objectively determine a value that can withstand the scrutiny of IRS challenges. Experts Bruce Johnson, Jim Park, and Spencer Jefferies conduct case studies to teach the best practices for valuing noncontrolling, nonmarketable FLP and ...
Power Panel: Festivus Edition
In the final Power Panel of 2021, join experts Jay Fishman, Roger Grabowski, and Chris Mercer for this “Festivus”-themed conversation. What is Festivus? It is a light-hearted reference to the “airing of grievances” with a valuation twist. Our all-star lineup will discuss practices and thought processes within valuation that need a reexamining along with suggestions of how the profession can move forward. As usual, bring your questions and comments, and we welcome you to submit ...
Cost of Capital in Healthcare
Estimating cost of capital when valuing healthcare entities can be challenging due to (among other factors) the regulatory environment, the impact of changes in reimbursement, the size of the entities, the lack of guideline public companies, and other entity-specific risks. Kate Morris and Matt Warren will establish a logical framework for developing cost of capital in such entities within the context of the spectrum of market returns and the observed rates of return in capital ...
Valuing Franchises
As of 2010, the U.S. Census Bureau estimated that 10% of businesses in the United States were either franchisee or franchiser-owned. Franchised businesses represent a broad scope of industries but often present the same set challenges to business appraisers. How, for instance, should an appraiser address the license granted to a franchisee to use the intellectual property and intangible assets of the franchisor? And which party holds ownership rights to the tangible assets needed to ...
The Implied Private Company Pricing Line
In the September 2013 issue of Business Valuation Update™, experts Robert Dohmeyer, Peter Butler, and Rod Burkert laid out a new approach to cost of capital estimation for private businesses whose revenues are less than $10 million. Their model, the implied private company pricing line, seeks to eliminate "pitfalls for unsystematic risk, liquidity, small stock premium, PTE taxes, and cash/leverage by utilizing real transaction market-clearing prices between buyers and sellers of comparable small private businesses."
Using Government Data Sources to Revolutionize Healthcare Valuation
Believe it or not, the U.S. government does a few things right when it comes to the healthcare industry. One such area is providing a vast treasure trove of industry data that can be used in healthcare valuation, including both business and compensation valuation. As agencies such as CMS seek greater transparency in healthcare, the government is making all the data it collects through its reimbursement processes available for public use. Yet, many in the ...
Back to the Future? Exploding the Income Approach
Seeing the future? Compensating for excessive compensation? The feared levering and unlevering! What to do? Well don’t discount the advice of this expert panel as they work their way through the income approach from top to bottom. Join Bethany Hearn, Brenda Clarke, Kevin Yeanoplos, and Bob Dohmeyer in this entertaining and engaging web workshop. Half this event will focus on the numerator with a curated selection of hot issues such as forecasting, free cash flow ...
Challenges in Estimating Cost of Captial in Healthcare
Perhaps no industry poses as many challenges to assessing future cash flow and risk as the healthcare industry. Heavily regulated and rapidly changing, it is an industry in which projections can be made easily but in which sound, defensible projections are hard to create. In this webinar, Part 4 of BVR's 2013 Online Symposium on Healthcare Valuation, experts Carol Carden and Don Barbo join us to discuss the factors that create these challenges. From current and ...
Demystifying the Complex World of Discounts for Lack of Marketability
25%? 35%? 45%? What's the deal with discounts for lack of marketability? Pasquale Rafanelli dives into what DLOMs are, when they should be applied, and how to apply them. Learn about the different types of approaches and methods that valuation experts can use to quantify the DLOM, along with practical pros and cons of each approach and method.
Demystifying the Complex World of Discounts for Lack of Marketability (Part 1)
Please note: This is a rebroadcast. 25%? 35%? 45%? What’s the deal with discounts for lack of marketability? Pasquale Rafanelli dives into what DLOMs are, when they should be applied, and how to apply them. Learn about the different types of approaches and methods that valuation experts can use to quantify the DLOM, along with practical pros and cons of each approach and method. This session focuses on benchmark study approaches and security-based approaches. Please note ...
DLOM: A Practical Look at a Complex Matter—Part 1
This webinar will cover the theory behind discounts for lack of marketability. We will cover the applicability and the application of using a DLOM on a minority interest as well as on a controlling interest. We will cover the different models and tools that are available for valuators to use when trying to determine the appropriate DLOM.
BVR's Teleconference Series on Healthcare Valuation (Part 2 of 3)
BVR’s Teleconference Series on Healthcare Valuation (Part 2 of 3) Teleconference Handbook June 23, 2009 Panelist: Carol Carden, CPA/ABV ASA, CFE, Mark O. Dietrich, CPA, ABV, Douglas Smith, and Timothy Smith, CPA/ABV Please note: This Handbook does ...
Healthcare Reform and Its Impact on Valuation
By now you've heard from the president, both houses of Congress, the media, and even the parliamentarian on what healthcare reform will mean for you personally. Do you know what will it mean for you professionally? In Healthcare Reform and Its Impact on Valuation, BVR will host Mark Dietrich, Elliott Jeter, and Don Barbo, three of the best minds in this field, on what effect healthcare reform and related legislation will have on the valuation of ...
The Effect of Taxes on Value in Private Capital Markets
The Effect of Taxes on Value in Private Capital Markets Teleconference Handbook December 16, 2009 Presenter: Nancy Fannon, ASA, CPA/ABV, MCBA Please note: This Handbook does not qualify for self study CPE credits. Copyright © 2009 Business Valuatio ...
The Market Participant Acquisition Premium
In April 2013, The Appraisal Foundation introduced a new term to the business valuation vernacular: the market participant acquisition premium (MPAP). Created to "emphasize the importance of the market participant perspective when measuring fair value, and to distinguish this premium from the more general (and occasionally controversial) notion of the control premium," the MPAP includes considerations for risk, goodwill, and other valuation staples. Part 10 of BVR's 2014 Online Symposium on Fair Value Measurement features expert ...
Valuations vs. Calculations: Advice and Guidance From Professional Standards
At first glance, the choice between a valuation and a calculation is simple. Each is a well-defined option for the business appraisal process, with a clear scope and a clear outcome. A closer look, however, reveals many questions and gray areas. How, for instance, should an appraiser reconcile the definitions SSVS and USPAP put forth? What liabilities, if any, are an appraiser exposed to under either a calculation or a valuation? In Valuations vs. Calculations ...