Highlights of the January 16  issue:
  • Hitchner outlines BV highlights of 2018
  • 'Mixed-purpose' valuation is discoverable, New York court rules
  • Pepperdine launches 2019 cost of capital survey
  • BVR now offers Vertical IQ industry research
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Be the first to know about changes affecting the business valuation profession. The BVWire ezine brings you current news every Wednesday. From the buzz of the latest professional conference or the best new financial research resources, to the impact of last week's tax case or to this week's IRS, FASB or Appraisal Foundation announcement, BVWire guarantees you won't miss a thing. It's free, it's fast to read, and it contains everything you need to know about the evolving business valuation profession.

Improving on historical data for the cost of capital

There are shortcomings to using historical data in developing an equity risk premium (ERP) when estimating the cost of capital, points out Eric Nath (Eric Nath & Associates LLC) in the February issue of Business Valuation Update.

Pepperdine launches 2019 cost of capital survey

Input is sought from anyone involved in the funding of private businesses for the annual cost of capital survey that is part of the research at the Pepperdine Private Capital Markets Project.

BVR now offers Vertical IQ industry research

When BVR conducted a survey of business valuation firms, a new provider appeared when we asked about the industry research sources respondents use: Vertical IQ.

Global BV News: Stunning crackdown on fairness opinions

In an effort to protect small investors, the Philippine Stock Exchange Inc. (PSE) plans to impose stricter guidelines on the selection of fairness valuation providers for companies in need of valuation reports.

Global BV News: Successful BV conference in China

More than 120 participants from China, the United States, Russia, Germany, Japan, Singapore, and other countries attended the 8th International Conference on New Developments of Appraisal in Wuhan on Dec. 8, 2018.

BV movers . . .

Hubert Klein, CPA, ABV, CFF, CVA, CFE, CGMA, a partner at EisnerAmper, was named leader of the firm’s New Jersey forensics, litigation, and valuation services group.

New and Trending LinkedIn Discussions

Your discussion could be featured here.

‘Mixed-purpose’ valuation is discoverable, New York court rules

When it comes to document discovery, the “why and “when” matter greatly, as a recent New York ruling centering on a valuation report makes clear.

CPE events

FREE WEBINAR: Benchmarking with BizMiner: Live Demo and Case Study (January 24), with Don Drysdale (Drysdale Valuation PLLC) and Galen Pugh (BizMiner).

Hitchner outlines BV highlights of 2018

During his annual update webinar, Jim Hitchner (Valuation Products and Services) does a rundown of the new need-to-know BV concepts, data, models, and methods.

Experts clash over definition of ‘net worth’ in New Jersey buyout dispute

Business partners often think that a buyout agreement will forestall future conflicts. A recent New Jersey case proves the opposite.

PCAOB updates fair value audit standards

Of interest to valuation specialists who do fair value work, the Public Company Accounting Oversight Board (PCAOB) has adopted a new standard for auditing accounting estimates, including fair value measurements, and amendments regarding specialists.

Feedback wanted on new additions to PE/VC guide

The AICPA has released for comments working drafts of two new case studies from its Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (PE/VC Guide).

AICPA issues new forensics standard

There is often an overlap between valuation work and forensics, so a new standard for forensic services should be of interest to valuation experts.

Tip for finding hidden assets in divorce

Parties to a divorce often play hide-and-seek with assets so the valuation expert often has to help ferret them out.

Goodwill impairments up 23% in 2017

Total goodwill impairment rose to $35.1 billion in 2017, up 23% over the prior year, according to the “2018 U.S. Goodwill Impairment Study” by Duff & Phelps.

Global BV News: IVSC issues exposure draft on nonfinancial liabilities

Comments are requested by April 1 on IVS 220 Non-Financial Liabilities, a draft standard the Business Valuation Board of the International Valuation Standards Council (IVSC) developed.

BV movers . . .

Jamie Burress was hired as a managing director in the forensic, litigation, and valuation group at Whitley Penn (Houston).

CPE events

Using Government Data Sources to Revolutionize Healthcare Valuation (January 9), with Timothy Smith (TS Healthcare Consulting) and Nicholas Newsad (Healthcare Transaction Advisors LLC).

New and Trending LinkedIn Discussions

Your discussion could be featured here.

Infographic reveals value predictor via DealStats analysis

BVR’s “What’s Your Company Worth?” infographic is as visually captivating as it is informative, concisely summarizing the most statistically significant predictor of value for each major NAICS industry.

Tax Court’s Exelon ruling, turning on compromised appraisals, withstands appeal

In 2016, Tax Court Judge Laro ruled on the legitimacy of a series of Section 1031 transactions involving Exelon, an Illinois-based energy giant.

Fernandez on badly explained finance topics

A number of topics relevant to business valuers including CAPM, WACC, betas, ERP, and returns are in the latest paper by Pablo Fernandez (University of Navarra, IESE Business School), "18 Topics Badly Explained by Many Finance Professors."

Don’t be locked into a start year for historical returns

During a recent demo of BVR’s new Cost of Capital Professional, an audience member asked whether he could choose the starting year used to calculate the historical equity risk premium and historical size premium.

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