Highlights of the January 13 issue:
  • Prince estate and IRS embroiled in fierce valuation dispute
  • Letter to the editor: Proposed change to BV Glossary
  • New guidance issued on the Payroll Protection Plan
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Prince estate and IRS embroiled in fierce valuation dispute

A recent article in the Star Tribune says the executor of the estate of Prince, the late world-famous rock star, and the Internal Revenue Service are currently locked in a fierce estate and gift tax dispute.

New guidance issued on the Payroll Protection Plan

During a recent BVR webinar, speakers report that many business owners will claim their Payroll Protection Plan (PPP) loans will be 100% forgiven.

Feedback wanted on fourth draft of 2022-23 USPAP

The fourth exposure draft of proposed changes to the 2022-23 edition of USPAP is available for review and the Appraisal Standards Board is accepting public comments.

Today’s the deadline to send your video question to the BV ‘power panel’

You can get free admission to BVR’s Power Panel: Live Expert Answers for Today’s Tough BV Questions on January 14 if you send in a video of yourself asking a question you want the panel to answer.

Business Reference Guide updated for 2021

The 2021 edition of the Business Reference Guide (BRG) by Tom West is now available.

FAU offers online accounting course on data analytics

The School of Accounting Executive Master’s Degree Program at Florida Atlantic University has developed an online accounting course on data analytics in auditing, managerial accounting, and financial statement analysis.

Revised resource for IP valuation insights and case law

New chapters and over 200 case digests—plus online access to the full text opinions—are available in BVR’s Intellectual Property Valuation Case Law Compendium, 4th edition.

Global BV News: PFI featured in latest OIV Journal

The latest edition of the journal of the Organismo Italiano di Valutazione, the valuation standards-setter in Italy, is now available if you click here.

BV movers . . .

Robert B. Morrison, ASA, BV/IA, partner and firm leader of business advisory services at Rosenfield and Co. PLLC, has been elected to The Appraisal Foundation’s board of trustees.

CPE events

Valuation of Senior Living and Post-Acute Providers. January 13, 10:00 a.m.-11:15 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Jed Cheney (CliftonLarsonAllen LLP).

Letter to the editor: Proposed change to BV Glossary

The following letter concerns the proposed changes to the International Glossary of Business Valuation Terms (see last week’s coverage for details).

Comments wanted on revised global BV glossary

A draft of a revised international glossary of business valuation terms has been developed, and feedback is wanted on the terms included and their definitions.

Vinoskey reply brief refutes DOL’s stock value and control claims

Argument continues in the contentious Vinoskey ESOP litigation, which is now in the 4th Circuit where the remaining defendant, Adam Vinoskey, has appealed the district court’s liability and damages findings.

Send the BV ‘power panel’ a video question—and get free admission

Here’s your chance to ask any question you want, and it will be answered live during BVR’s Power Panel: Live Expert Answers for Today’s Tough BV Questions on January 14.

Vanguard stock market forecast implies a U.S. ERP of 3% to 5%

Annual returns of U.S. stocks over the next decade are forecasted to be in the “modest 3.7%-5.7% range,” according to a recent market outlook report from Vanguard.

Good, free economic research from McKinsey

We hear more valuation analysts touting the free material available from McKinsey on economic and industry analyses, particularly with respect to the COVID-19 crisis.

Do you have a story to tell?

During 2020, it was exciting to see valuation experts rise to the challenges the pandemic created. Business Valuation Update was very fortunate to publish a good number of articles submitted by experts who presented some very interesting and innovative thinking about how to reflect the impact of the pandemic on valuations.

Global BV News: IVSC issues exposure draft on financial instruments

The International Valuation Standards Council (IVSC) is “eager” to hear comments on its exposure draft on a new standard for the valuation of financial instruments.

Global BV News: CBV Institute sets date for 2021 Congress

Mark your calendar for June 16-18 to attend the Interactive Virtual Congress 2021 held by the Chartered Business Valuators Institute (CBV Institute), Canada’s valuation professional organization (VPO).

BV movers . . .

Jade Palermo has joined New York-based Empire Valuation Consultants in the firm’s Boston office.

CPE events

Valuation of Senior Living and Post-Acute Providers. January 13, 10:00 a.m.-11:15 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Jed Cheney (CliftonLarsonAllen LLP).

D&P reduces recommended U.S. ERP to 5.5%

Duff & Phelps has decreased its recommended U.S. equity risk premium (ERP) from 6.0% to 5.5% for use as of Dec. 9, 2020, according to a client alert.

‘Want more’ from the valuation profession, advises Hanlin

To “get more” from the business valuation profession, you need to “do more,” says William Hanlin, president and CEO of the International Association of Certified Valuation Specialists (IACVS).

Prepare now for future business interruption claims due to COVID-19

Now is the time to educate yourself on how to calculate damages from business interruption due to COVID-19, advised Kerrie Merrifield (Axiom Forensics) at the recent NACVA and the CTI’s 2020 Financial Valuation Virtual Conference.

Match industry forecasts to valuation date

At a number of conference sessions we’ve attended recently, speakers say that they are spending a great deal more time on the industry and economic analyses for their valuations.

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