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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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Letter to the Editor: Is Abbott’s Use of R2 Conceptually Flawed?
Dear Editor: I read with interest the article in the December 2011 issue of BVU by Ashok Abbott, entitled “Demographic Trends: Apportioning the Active and Passive Components.” For the past decade, he and others have been promoting the statistical measure ...
Global BVU News and Trends July 2020
Business valuation news from a global perspective.
BVU News and Trends February 2021
A monthly roundup of key developments of interest to business valuation experts.
Hotel Valuation: Breaking the Rules—But Getting it Right!
This article explains why the dominant method for the appraisal of hotels is contrary to the main methods used for the appraisal of other real estate-centered enterprises (RECEs) and is therefore flawed. Furthermore, this method does not mimic the way hot ...
Cost of capital controversies: It’s time to look behind the curtain (Part 1 of 3)
The estimation of the cost of capital for a closely held business is fraught with controversy.
SBA Inflames Real Estate and BV Turf War
There has always been a potential turf battle between real estate and business appraisers over who does what in certain types of engagements. For example, should real estate appraisers value not only the land, but also the golf course, the winery, or the ...
Industry Snapshot: Automobile Dealers
An at-a-glance overview and update on current trends, value drivers, and valuation approaches in the complex world of automobile dealerships.
News You Can Use From the NACVA Annual Conference
When we attend a conference, we hear a lot of things we already know—and we’re sure you do also. But what we listen for are pieces of new information or advice that practitioners can use in their practice. We attended sessions on all four days of the annu ...
Reopen or Not? A Method for Analyzing a COVID-19-Shuttered Firm
A case study of using external yardstick data to help a client decide whether to hang in there and reopen his business or stay closed for good. This is not a full-blown valuation engagement, but rather a very high-level analysis designed to provide management with an objective basis to help make critical decisions in today’s unpredictable environment.
Insiders Examine Michael Jackson Estate Valuation Dispute
Testifying experts for the estate give their main takeaways from this fierce dispute with the IRS.
DLOM is Valuation-Date Specific, New Study on LEAPS Put Options Shows
The risk of loss in value over time is a major component of the discount for lack of marketability. The risk can be measured by the cost of publicly traded, long-term put options (LEAPS). Our new study, Minimum Marketability Discounts–4th Edition: A Study ...
Dual Appraisals: Real Estate or Business—A Case Study
A particularly troublesome type of appraisal is what I like to call the appraisers no man s land. That is, appraising special purpose real estate that has substantial business assets present. Two appraisers produce two results that may produce double counting of assets or cash fows. The result is an improperly valued prop- erty overall, which may lead to loan problems. Here is a fctitious example that lays out the chal- lenges encountered. A fictitious dual-appraisal ...
BVU News and Trends May 2020
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends July 2020
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends October 2020
A monthly roundup of key developments of interest to business valuation experts.
BV News and Trends April 2024
A monthly roundup of key developments of interest to business valuation experts.
Report from ACG: Transaction Costs and Risks Rise, Buyers Change
BVU has attended three of the major “intermediary” meetings in the last several months, beginning with the IBBA and AM&AA annual meetings. But the dean of the group is InterGrowth, held last month in San Diego. This is the largest gathering of members and ...
Valuing Wholesalers: Key Performance Metrics and Financial Statements Adjustments
Analyzing the financial aspects of a small or medium-sized distribution company is, with a caveat or two, a straightforward task. However, SMDCs also have some unique characteristics to which valuation professionals should attach great significance. Those ...
Unique Aspects of Valuing Hedge Fund Advisory Firms
Hedge funds are investment vehicles with very complex methods of generating income. Since they operate outside a highly regulated environment, transparency can be an issue. But hedge fund managers get divorced, go to litigation, and share ownership, all o ...
BVU Profiles: Business Valuation From the Perspective of an Appraiser in Italy
Ascanio Salvidio is a chartered accountant and auditor and has a valuation practice in Rome, Italy. His firm, Salvidio & Partners (www.salvidio.com), specializes in economic and financial analyses for valuation and litigation purposes. A Fellow of the Roy ...
BVU PROFILE: A Perspective on Business Valuation From South of the Border
Adriana Berrocal is the founder and managing director of BValue Consulting, a firm based in Mexico City that specializes in financial valuation and related advisory services. A civil engineer with over two decades of experience in the valuation of real pr ...
Amid Market Data Volatility, the Best Option Is a More Rigorous DCF
A panel of global valuation experts who conducted a recent webinar co-sponsored by RICS, and also NACVA, the ASA, GACVA, and CBVI gives their comments.
14 Ways to Detect Misrepresentations in Business Interruption Claims
Business interruption insurance claims are on the rise, and analysts need to be on the lookout for misrepresentations. Michael Haugen (JS Held) conducted a session on this at the recent AICPA FVS Conference, and it’s an area where valuation experts would do well to bolster their knowledge and skills in financial forensics. Haugen gives some tips on how to “sniff out” misrepresentations in these claims.
What to Consider When Carving Out the Value of a Firm’s Website
Recently, I was asked to value a retail company doing business solely over the Internet. The company’s finances were weak, but the owner insisted that the website itself had intangible value that I was ignoring. He may have been right, but I passed on the ...
The Top Valuation and Damages Cases of 2020
Our pick of valuation-related court cases includes state and federal court decisions covering many areas of law that dealt with novel issues of law or, in some way, enhanced our understanding of valuation and damages issues as they arose in a litigation setting.