BVWire attended the AICPA Forensic & Valuation Services Conference November 5-7 in Atlanta where there were a number of good sessions on the Tax Cuts and Jobs Act (TCJA), which impacts “everything” in valuation.
Judges are alert to incongruities in valuations, as is clear from a recent condemnation case in which landowners hired three experts to calculate the compensation owed to them.
“The bottom line is that after addressing the facts and fictions of the size effect, we find neither strong empirical evidence nor robust theoretical support for a prominent size premium.”
A significant impact on the revenue picture for healthcare providers is coming from alternative payment models, such as value-based payments and bundled payments.
Private equity firms paid a median valuation multiple of 11.9x EBITDA for new investments during the first nine months of 2018, according to the “2018 Q3 Private Equity Valuations Report” from Murray Devine Valuation Advisors.
The International Institute of Business Valuers (iiBV) and the National Association of Valuers of Serbia (NAVS) signed a new licensing agreement for iiBV courses that will further promote the advancement of the business valuation profession in Eastern Europe.
Dan Peters will be the managing partner of Valentiam, a new firm formed by valuation and transfer pricing experts; Carl Hoemke will helm valuation services, and the transfer pricing partners are Dan Peters, Clark Chandler, Sean Faulkner, David Talakoub, and Jared Walls.
Portfolio Equations and Applications in Valuation (November 15), with Gary Schurman (Applied Business Economics).
A set of FAQs for BVR’s Cost of Capital Professional (CCP) has been added to the webpage that explains the new independent service for estimating the cost of equity.
Experts from the who’s who of the business valuation world have joined the advisory board for BVR’s Cost of Capital Professional (CCP), the new independent service for estimating the cost of equity.
“If we remove the human element, our valuations will be nothing more than computer-generated nonsense,” writes Robert E. Kleeman Jr. (OnPointe Financial Valuation Group LLC) in Business Valuation Update. Kleeman, who has been in the BV world for over 40 years, says a lot has changed, including more of a reliance on data and a move away from using judgment, common sense, and reasonableness.
A recent New York Times article delves into the astonishing growth of Netflix, the video streaming service, and names Professor Aswath Damodaran as one of the few analysts who doubt the company’s business model is sustainable.
When a celebrity passes away, a large chunk of value in the estate may come from the “right of publicity,” which is a form of intellectual property that covers an individual’s name and likeness.
For three quarters in a row, there have been at least 20 publicly announced acquisitions of home health or hospice companies, a much higher quarterly volume than during most of 2017, according to new data from HealthCareMandA.com (Irving Levin Associates).
The AICPA’s Financial Reporting Executive Committee has released for public comment a working draft on accounting issues associated with the implementation of FASB Accounting Standards Update No. 2016-13, “Financial Instruments—Credit Losses” (issued in June 2016), which “provides a new current expected credit loss (CECL) model to measure impairment for financial assets (and instruments) measured at amortized cost.”
The Leading Economic Index increased 0.5% in September, coming in at 111.8 points, the 12th consecutive month of gains, according to the September 2018 Economic Outlook Update (EOU).
This year’s study from KPMG includes 276 companies: 216 from Germany, 30 from Austria, and 30 from Switzerland. Among the findings: the average WACC across industries is 7% (same as the past three years); the average risk-free rate increased from 0.9% to 1.3%; and the market risk premium “remains almost stable,” at 6.5% (Germany), 6.7% (Austria), and 5.9% (Switzerland).
The Seventh OIV Business Valuation International Conference will be held at Bocconi University (Aula Magna) in Milan, Italy, on November 12.
Ethan A. Lee, CPA, ABV, CFF, has joined Cooper Norman CPAs & Business Advisors as a partner based out of the firm’s Idaho Falls, Idaho, office.
Portfolio Equations and Applications in Valuation (November 15), with Gary Schurman (Applied Business Economics). Part of BVR’s Special Series on Advanced Modeling and Methodologies.
The Cost of Capital Professional is the name chosen for BVR’s new, simple, independent service for estimating the cost of equity.
In the days before the recent Joint ASA 2018 Advanced Business Valuation and International Appraisers Conference in Anaheim, Calif., the ASA held various classes as part of its accreditation process.
In the second quarter of 2018, EBITDA multiples (median selling price/EBITDA) for private companies plummeted to 2.8x, the largest decline reported in recent years, according to BVR’s DealStats Value Index (DVI).