Highlights of the September 15 issue:
  • New case to address goodwill impairment dispute
  • Frazier reviews ‘very important’ book on business valuation
  • Jim Alerding joins BVR as legal editor
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Major win in ESOP valuation case vs. DOL

A district court has ruled “decisively” against the Department of Labor (DOL) in an ESOP valuation case, stressing that the DOL failed to follow standard valuation practices.

Takeaways from the NJCPA BV conference

The New Jersey CPA Society held its Business Valuation and Litigation Services Conference last week, and event chair Don DeGrazia (Gold Gerstein Group LLC) put together an excellent program of cutting-edge and relevant topics.

Today! Take a fresh look at the GPC method

What are the best sources of data for the guideline public-company (GPC) methodology when valuing a closely held interest?

NACVA adds 51 newly credentialed members

In the third quarter of 2021, 51 members of the National Association of Certified Valuators and Analysts (NACVA) earned their credentials, according to an announcement.

2021 Johnson/Park DLOM study is now available

The Johnson/Park empirical method to estimate a discount for lack of marketability (DLOM) is one of the most popular methods business appraisers use for this purpose, according to a recent BVR survey.

Did you ever value a bar or nightclub?

If so, then BVR wants to hear from you!

Global BV News: Market risk premium reverts in Germany

Recent analysis on the German market suggests that the perceived risk of equity investing has dropped back to its precrisis levels, according to Alvarez & Marsal, which does a regular analysis of pricing dynamics in Germany.

BV movers . . .

Ben Smith, CPA, ABV, a senior manager at Clayton & McKervey of Southfield, Mich., has been promoted to a shareholder of the firm.

CPE events

Relying on Guideline Public-Company Data in Appraisals of Closely Held Interests. September 29, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Robert Schlegel (Houlihan Valuation Advisors). CPE credits: 2.0.

Value of Coke’s secret formula could end up in Supreme Court

At last week’s New Jersey CPA Society’s Business Valuation and Litigation Services Conference, Barry Sziklay (Friedman LLP) gave an update on the huge battle between Coca-Cola and the IRS over transfer pricing that involves the trademark and secret formula for the soda giant’s iconic beverage.

New push to explore realignment of intangible asset disclosures

Long overdue is a re-examination of the reporting and disclosure framework for intangible assets (IA).

Expelled partner should get FMV—but of what?

An Oregon appellate case deals with compensation for a partner’s 25% interest in a business after he is expelled from the firm.

Damodaran’s strong feelings about ESG

A year ago, Professor Aswath Damodaran (New York University Stern School of Business) called it “the most overhyped, oversold concept in the history of business.”

New online tool for valuing fractional interests

This October will see the launch of the Partner Value Expert (PVX), an online application that represents a new approach to valuing fractional interests involving real estate.

Mercer chimes in on BVR DLOM survey

“Our profession has a long way to go in terms of understanding what DLOMs, or marketability discounts, really are,” concludes Chris Mercer (Mercer Capital) in his analysis of BVR’s 2021 DLOM survey.

Today! Valuation and legal experts examine latest cases

BVR legal editor Jim Alerding has hand-picked a number of the most consequential recent valuation and financial litigation court decisions for the next installment of our regular BVLaw Case Update webinars, which will be today.

Global BV News: Multiples in China lower than year-end 2020

As of Aug. 31, 2021, earnings multiples (price to LTM earnings) for Chinese companies were lower overall than those at the end of 2020, with an average of 30.8x compared to 40.3x for year-end 2020, according to “China Transactions Insights—Fall 2021” from Duff & Phelps (a Kroll business).

BV movers . . .

Senior financial analysts David Harkins, CFA, and Justin Ramirez, ASA, both with Mercer Capital, have earned the credential of Accredited in Business Valuation (ABV) issued by the American Institute of CPAs (AICPA).

CPE events

BVLaw Case Update. September 22, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: R. James Alerding (Alerding Consulting LLC), James D. Ewart (James D. Ewart LLC), and Andrew Z. Soshnick (Faegre Drinker Biddle & Reath LLP). CPE credits: 2.0.

Frazier reviews ‘very important’ book on business valuation

A very comprehensive review of an important book is in the Summer 2021 issue of the Business Valuation Review™, published by the American Society of Appraisers.

Jim Alerding joins BVR as legal editor

BVR is extremely pleased to announce that veteran valuation expert Jim Alerding, CPA/ABV (Alerding Consulting LLC), has joined us as legal editor.

Specialty pharmacies resilient amid COVID-19

The pandemic had less of an impact on specialty pharmacies than other types of entities, say speakers on a recent BVR webinar.

New course on intangibles debuts at the October ASA conference

A new advanced course on the valuation of intangible assets will make its debut at the ASA International Appraisers Conference in Las Vegas.

Free webinar reveals what’s new in goodwill

The amount of goodwill on corporate balance sheets is at the highest level since 2017—and it’s growing.

Global BV News: Initial agenda for IVSC Virtual AGM October 21-28

This year’s annual general meeting (AGM) of the International Valuation Standards Council (IVSC) will be held as a virtual program from October 21 to October 28.

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