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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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Top Controversies in Determining Cost of Capital
February 1, 2006 Teleconference Transcript; Panel: James Hitchner (Moderator), Katherine Morris, and Harold Martin ...
Fair Value in Financial Reporting
February 23, 2006 Teleconference Transcript; Panel: Jay Fishman (Moderator), Stephen Jones, Anthony Aaron, Jim Wilson, and Ellen Larson ...
Discount and Capitalization Rates Part II: Theory, Practical Applications and Understandable Presentations
November 8, 2006 Teleconference Transcript; Panel: Jim Hitchner (Moderator), Gary Trugman and Jim Alerding ...
BV Standards: AICPA, IRS and Beyond -- Where Are We Headed?
Teleconference Presentation and Transcript January 25, 2007 Moderator: Ron Seigneur, Partner at Seigneur Gustafson Knight Speakers: Jay Fishman, Managing Director of Financial Research Associates Ed Dupke, Senior Consultant with Clifton Gunderson T ...
Valuing Dental Practices
Valuing Dental Practices Teleconference Handbook May 14, 2009 Panelists: James Andersen, ASA, ABV, CFF, MBA, Ron Seigneur, MBA, CPA/ABV/CFF, CVA, and Dr. Stephen Persichetti, DDS, MBA Please note: This Handbook does not qualify for self study CPE c ...
Valuing Closely Held Farms and Ranches With Economic Reality
Valuing a minority interest in an entity with farm/ranch ownership and/or operations can be tricky. As analysts, we are bound to valuation theory, but economic reality must play a role as well. As valuation professionals know, an owner of a minority interest cannot force liquidation of assets, so that precludes us from strictly employing the asset approach. However, cash flows from farms and ranches are very low in relation to the underlying ground; as such ...
Cost of Capital Professional: Gain the Edge With New Enhancements
The newest resource for developing cost of capital estimates is now even better. Since January, users have been able to use beta-adjusted size premiums, select arithmetic or geometric averages, compute weighted average cost of capital (WACC), and more. With the new enhancements, the Cost of Capital Professional has maintained its principles of simplicity, transparency, and flexibility in a world where the inputs to cost of capital have become so complex that the risk of making ...
Cost of Capital Professional: Transparent. Simple. Free.
The newest resource for developing cost of equity capital estimates has arrived. The inputs to cost of capital have become so complex that the risk of making errors has increased greatly. This new cost-effective resource from BVR integrates data from multiple sources, including University of Chicago’s Center for Research in Security Prices (CRSP) data, Professor Aswath Damodaran’s data resources, and the U.S. Federal Reserve on Treasury bond yields. The philosophy behind the resource is to ...
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 ...
Valuing Wineries in 2018—An Update
2018 will be a good year … to learn about valuing wineries. Join valuation experts Keith Meyers and Chris Meineke as they explain the nuances of this industry, including slow inventory turns, high capital requirements, and specialized laws controlling the production and sale of alcoholic beverages. Take advantage of their wealth of experience performing valuations in the top wine regions in the U.S. Join us for a full case study, and learn to appreciate the ...
Behind the Bench: Two Experts and a Judge on Valuation in the Courtroom
In this program, Jay Fishman and Bill Morrison, the authors of The Business Valuation Bench Book: Business Valuation for Lawyers and Judges, published by BVR, are joined by the Honorable Thomas Zampino JSC (ret). The authors and Judge Zampino provide insights from their many years of experience to help judges evaluate expert valuation testimony, experts prepare and present valuation testimony, and lawyers present their own expert on direct and cross-examination of the opposing expert.
The Application of Professional Judgment in a Data-Driven World
In the 36 years since the first edition of Shannon Pratt’s Valuing a Business was published, we have seen a proliferation of data, tools, and techniques for business valuation. Some of these have been incredibly useful, leading to more reliable valuations and ushering in a new era of “evidence-based business valuation.” However, this proliferation has made it difficult for appraisers to keep up-to-date on the latest developments in the field. There are also concerns that ...
Premiums: Are You In or Out of Control?
DLOC and DLOM at times become mixed. Stay in control of your valuation with a strong understanding of discounts and premiums. Expert James Ewart will guide listeners on the purpose and application of control and marketability issues. Attendees will see the potential impact of the proposed 2704 regulations and their impact on family-owned businesses and come away with a road map to successful minority interest valuation.
Case Study: Applying the Empirical Method to Determine a DLOM
Is your DLOM accurate? Is your DLOM objective? Does your DLOM result in an increase in the effective rate of return of the investment? Join Bruce Johnson, of Munroe, Park & Johnson, for an in-depth case study that will empower you to answer these questions with even greater confidence. Master the resources and case law you can deploy when creating a defensible opinion in a minority valuation. An understanding of the empirical method is an ...
Forecasting Cost of Capital in Healthcare Valuations
Forecasting cost of capital in an industry as dynamic of healthcare is very challenging. Join Carol Carden and Robert Mundy, both of Pershing Yoakley & Associates, as they breakdown the healthcare industry and the different components of cost of capital. Get a look at recent healthcare reform provisions that impact providers, and learn about the many factors that contribute to risk in the healthcare industry. This is a can’t-miss webinar for anyone in the healthcare ...
The Use of Regression Analysis in the Market Approach
Regression is finding its way into the toolboxes of many appraisers. As the industry better understands this statistical tool, it will be recognized as a vastly superior methodology to median, average, or harmonic mean in determining the appropriate multipliers to value a business. Join C. Fred Hall for an in-depth look into regression analysis and the market approach and learn how to present data that enables the reader of your report to readily understand what ...
The New Key Person Risk on Steroids: Personal Goodwill
This presentation will examine how key person risk increased from 5% to 15% discounts to 70% to 100% discounts, when called personal goodwill. In the Estate of Adell and Bross Trucking, the Tax Court, for the first time, took an income tax construct of personal goodwill and applied it to an estate (Adell) and a gift (Bross Trucking). As a result, the respective values of the two companies were reduced by 65% and 100%, respectively.
Why Your Multiple May Be Wrong: Forgotten Statistical Concepts and Their Invaluable Application
In the November 2014 issue of Business Valuation Update™, Robert Dohmeyer and Herbert Kierulff posited that "many appraisers have missed the statistical and causal subtleties inherent in both luck and skill, adhering to conventional wisdom that says 'companies with superior margins deserve a premium multiple.'" In this live presentation of this and a subsequent article on the proper implementation of mean, median, and harmonic mean, Dohmeyer and Kierulff address how the nuances of statistical methods and ...
Valuing Sports Franchises
The August 2014 sale of the Los Angeles Clippers basketball team for $2 billion matched the March 2012 sale price of the Los Angeles Dodgers baseball team, a record for both the NBA and MLB. While these franchise sales make headlines, they call into question the exact values of these businesses and how such high price points compare to other major league franchises and the many minor- and independent-league teams that populate the sports landscape.
Valuing Sole Proprietorships
Sole proprietorships often feature a unique blend of familiar valuation challenges, combining a very small business valuation with enigmatic considerations of key-person discounts and personal goodwill allocations, among others. In Valuing Sole Proprietorships, BV hall of famer Ron Seigneur and Brenda Clarke discuss how these all too familiar businesses can create some of the most perilous valuation assignments and what appraisers can do to overcome the obstacles they pose.
Valuing Hotels
Love them or hate them, hotels are a ubiquitous feature of modern life—and frequently of business appraisal. In their January 30 webinar, experts Mark Dayman and Kari Lazarova join BVR for an examination of the numerous valuation challenges these deceptively simple businesses pose. Join them to learn what every business appraiser should know when appraising a hotel.
Asset Tracking and Fraud Analysis in Divorce
Part 4 of BVR's Advanced Webinar Series on Business Valuation in Divorce features experts Donald DeGrazia and Donald Glenn on how to identify, analyze, and quantify claims for fraud in marital dissolutions. Whether for purposes of tracking assets or assessing fraud, DeGrazia and Glenn will show how appraisers can put their skills to work to benefit their clients.
Goodwill in Divorce Valuation: Personal, Entity, and the Difference Between
At times, it would seem that "goodwill" is synonymous with "challenging valuation for marital dissolution." In dividing an estate, recognizing, analyzing, and apportioning both entity and personal goodwill can foil the most experienced appraiser and render the most nuanced valuation inadmissible. The second installment of the Advanced Webinar Series on Business Valuation in Divorce features series curator Jim Alerding on all things related to personal and entity goodwill. From identification and analysis to considerations of how ...
Damages in M&A and Purchase Price Disputes
Part 5 of BVR's Online Symposium on Economic Damages features experts Jeff Litvak and Kenneth Mathieu discussing the myriad of challenges that can arise in assessing damages claims involving mergers, acquisitions, and other business combinations. Regardless of the type or purpose of the transaction, these disputes provide both opportunity and peril for the business appraiser tasked with the assessment of their effect and magnitude.
Lost Profits in Trademark and Copyright Cases
Claims for damages on trademarked and copyrighted materials present numerous challenges for attorneys and financial experts. From defining the nature of the infringement on a protected idea, term, or phrase through assessing the damages and claiming a remedy to the infringement, the process involves not only a strong understanding of trademark and copyright protections, but also a solid grasp of the methods by which they are valued. In Part 4 of BVR's 2013 Online Symposium on ...