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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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Discount Rate, Risk & Economic Damages: Practical Considerations
When calculating damages awards in litigation, it is undisputed that the plaintiff’s projected economic losses must be discounted to their present value to avoid over-compensating for the harm caused by a defendant’s wrongful act.
New Twists and Turns in BV Highlight Annual SECBA Conference
Topics you don’t see at other conferences (such as Bitcoin and business insurance) and top-notch speakers added up to an excellent event hosted by the Southeast Chapter of Business Appraisers (SECBA) in Atlanta.
Some Key Takeaways From the AICPA FVS Conference
Over 1,100 attendees converged on Las Vegas for the AICPA Forensic and Valuation Services Conference 2015. BVU was there and heard some outstanding speakers and topics. Covered below are just a few of the takeaways. Future issues will cover these—and more.
Simplified MUM for Determining Personal Goodwill
Editor’s note: The author is a valuation expert and forensic accountant in Florida who uses the multiattribute utility model (MUM), but not in its full form. He uses a streamlined version that has been accepted in court and that may reduce the exposure to ...
Hedging and the estimation of marketability discounts
When estimating discounts for lack of marketability, many analysts do not consider the differences between various types of restrictions on marketability.
And the Survey Says!
On October 17, the BV Wire posted a survey asking about some of the valuation issues long thought settled, with particular emphasis on elements of the discounted cash flow (DCF) method that, in practice, can still be troublesome.
Trade Associations Can Be Excellent Sources of Compensation Data
The biggest problem in developing reasonable compensation for business owners involved in a divorce is finding usable and relevant data to back up your opinion. This is important because reasonable compensation is often the most contentious issue in the c ...
Cultures and Continents Clash in High-Stakes Divorce Valuation
Valuation experts who find themselves involved in a divorce engagement with globe-trotting spouses can glean some valuable insights from a recent United Kingdom case. The judge in the English Family Court found herself bemused by wholly different approac ...
Stale Fairness Opinions in Related Party Transactions Should Be Updated
It is common practice for proxy statements to contain fairness opinions that are dated weeks (or months) prior to the mailing date. Typically, they are not reviewed in the interim, which can be a problem.
Front-Burner Issues Presented at This Year’s NYSSCPA BV Conference
Inputs into the cost of capital, cryptocurrency, and financial projections are just a few of the important topics discussed at the annual business valuation conference of the New York State Society of CPAs (NYSSCPA) in New York City. BVU attends this event every year, and here are a few takeaways from the sessions.
BVU News and Trends September 2019
A monthly roundup of key developments of interest to business valuation experts.
Valuation Issues in the Coming Wave of Goodwill and Asset Impairments
Widespread stock price declines and recessionary conditions will significantly affect corporate valuation and financial reporting of goodwill and long-term assets. The S&P 500 index, which represents a broad cross-section of the economy, declined by about ...
Highlights From the 2022 NYSSCPA BVLS Conference
Money laundering, earnouts, valuing debt, and SPAC enforcement are a few of the topics presented at the Business Valuation and Litigation Services (BVLS) conference hosted by the New York State Society of CPAs. Here are some key takeaways.
Musings on the Cost of Capital
A veteran appraiser presents an interesting retrospective on the cost of capital and offers some observations on current practice.
The Implied Private Company Pricing Line 2.0 K0 = (FCFF1 / P) + g
Most business appraisal assignments are for private companies with revenue less than $10 million. Current costs of capital (K0) estimation methods rely almost entirely on public security returns. Small privately held companies are different from public eq ...
Putting a price on the Internet
Two of the most vexing and difficult assignments for an appraiser are Internet valuations of "Dot.com" companies and valuing companies for venture capital investment. We will cover both here—looking a ...
Indefinite Is Not Infinite —Solving a Dichotomy in Trademark Valuation
The valuation of an intangible asset is based on its useful life. For trademarks, appraisers regularly opt for an indefinite life, when no obvious factors exist that would limit the future economic life of the trademark. However, almost all brands are fin ...
Three Generations of Valuation Experts Share Their Views
Business valuation is still a young profession, but it has already produced several generations of professionals. Fortunately, some of the pioneers are still with us. Business Valuation Update recently had the unique opportunity to talk with the most pre ...
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 ...
"Just one thing": The most reliable variable for use in the market approach
The author analyzes 780 transactions of companies between $1 million and $30 million sales in six broad SIC codes.
Physician Distribution, Mobility, Fair Market Value, and Compensation Surveys
An analysis of regional differences in physician compensation coupled with the general tendency against long-distance relocation shows there is no national market for established physicians. Rather, local market conditions must be considered in setting fair market value.
BVU News and Trends April 2020
A monthly roundup of key developments of interest to business valuation experts.
A Veteran Valuer’s Guidance on COVID-19 and the ‘Soul’ of a Business
An interview with Robert Schlegel, FASA, MCBA (Houlihan Valuation Advisors), in which he gives his perspectives on our current economic environment and how that affects the business valuation community.
BVU News and Trends October 2020
A monthly roundup of key developments of interest to business valuation experts.
Highlights of 2020 Delaware Valuation Decisions
This article discusses two 2020 Supreme Court decisions and eight decisions by the Court of Chancery.