This Deceptively Simple Tool Can Help Clients Forecast Cash Flow
Valuation and forensics expert Darrell Dorrell (Financial Forensics) offers an Excel spreadsheet you can give clients to help them keep a close eye on their cash flow during these tough times.
American Business Appraisers and BVR Annual Key Issues Update
Every year American Business Appraisers brings together experts from across the country for a frank and practical discussion of the issues impacting business valuation. This year, everyone is invited to four great sessions. Get a current update on the SBA Paycheck Protection Program and the forgiveness application. Adam Rosenfield gives an overview of what the most recent changes to the program are and how that affects clients/future clients. Get guidance on how the loan and ...
Valuing Micro and Small Businesses in the Shadows of COVID-19
Valuing micro and small businesses in the shadow of COVID-19 is daunting. COVID-19’s effects on the economy has magnified risk and uncertainty for small business, making the job of valuators more difficult. Join small business broker, attorney, valuation professional, and author Gregory Caruso for a deep dive into problematic areas of actual small-business valuation cases. With a review of how the theory ties into the actual application of methods using best practices and professional judgment ...
Key Issues in Valuing Owner Operated Small Businesses
Owner-operated business must be considered in a different framework than many other types of business. Everything from hypothetical transaction (asset sale versus equity interest) to financial objectives (minimize taxable income versus maximize shareholder value) must be considered from a different perspective. Join David Coffman as he discusses rate of return and personal goodwill through this unique lens.
Valuation Challenges and Best Practices in Joint Ventures and Strategic Affiliations
Today, corporate investments into joint ventures and other non-controlled entities now exceed $5 trillion per year, according to Ankura/Water Street Partners' analysis of U.S. Government data. Companies utilize joint ventures for a variety of reasons, including to access capabilities, share risk, pool capital, secure added scale and scope, and satisfy regulatory requirements of local ownership. Join Jerry Chang, Molly Faber, and Tim Lubbe of Ankura to learn more about the increasing prevalence of joint ventures ...
Financial Triage: Five One-Page Tools for Appraisers That Add Value During Transition Or Crisis
There are five simple, but powerful tools, financial experts can use to help their clients manage precious cash, increase diminished revenues, and concentrate people resources during business crises. The tools, i.e. RCF, DRC, CCO, BPM, and SMM and have been deployed for nearly two decades in businesses throughout North America ranging from sole proprietorships to Fortune 500 companies. They are ideally suited to businesses needing immediate cash and revenue enhancement supplemented by sustainable actions. Join ...
Valuation of Small Promissory Notes
Privately held promissory notes (typically $0 to $10 million) need to be valued for gift/estate, tax, and related party transactions. However, bonds from publicly traded companies are not comparable because publicly traded companies are large, diversified, and represent much less risk. Note buyers typically discount the outstanding balance of privately held notes to yield a return of 12% to 20% depending on the collateral and other risk factors. Since corporate bonds yield around 4% to ...
The Balance Sheet and its Correlation to Company Specific Risk
The pandemic is teaching us that businesses, small and large, and their balance sheets are important not just from handling a pandemic, but also from sustaining operations. Understanding assets, and which matter, will help analysts determine the specific company risks. Expert Josh Shilts discusses which categories are important in understanding risk and what ratios and other analyses can be used to measure risk. Identifying and linking balance sheet financials to company-specific risk is a critical ...
Alternate Valuation Methods in the Era of COVID-19
COVID-19 has substantially affected the financial and economic characteristics of privately held and publicly traded businesses throughout the U.S. In this presentation, the presenters will address the valuation impact of COVID-19 and the potential distortions that can occur when traditional valuation approaches and methods are mechanically applied. In the current environment, it is important for analysts to think “outside-the-box” when performing business valuations with valuation dates occurring during the first and second quarter of 2020.
The Comprehensive Guide to the Use and Application of Transaction Databases, Fourth Edition
May 2020 Hardcover, PDF
Alina Niculita
Business Valuation Resources, LLC
Tales From the Trenches: How Recent Challenges with the IRS Impact Your Valuation
With a special focus on the recent Aaron U. Jones (USTC TCM 2019-101) case regarding tax affecting an S corp and a partnership, this workshop is the best way to get IRS insights short of going into litigation. Get real insights on how to avoid and what to do if working with the IRS on business valuation issues at all levels. Join Mike Gregory as he dives into conflict resolution (with assistance from the Collaboration ...
Tales From the Trenches: Buildup Approach—The Data May Be Correct, But Is the Conclusion Appropriate?
This is an article in a series of valuable lessons to be learned based on the experiences of seasoned valuation experts. While you may be able to find some of this advice in books, only real-life experiences can highlight the nuances that can only be found in the minds of the experts who have lived through many engagements.
Tales From the Trenches: Company Research: The Internet May Be Right, But It May Also Be Wrong!
This is an article in a series of valuable lessons to be learned based on the experiences of seasoned valuation experts. While you may be able to find some of this advice in books, only real-life experiences can highlight the nuances that can only be found in the minds of the experts who have lived through many engagements.
Purchase or Sale of the Closely Held Business
Purchasing or selling a business requires the synchronization of a lot of moving parts. Jim Alerding helps you keep your clients moving by looking at some of the issues to consider during a purchase or sale of a closely held business. Learn the process and know the ins and outs of how to conduct a sale, whether you are a buyer or a seller, so you are the best advisor to your clients.
Valuation in a Nonlinear World
Join Gary Schurman for this session on discrete time where the languages of finance are algebra and mathematical series. Learn the tools to incorporate nonlinearity into the standard linear dividend discount model. For practitioners looking to advance their core mathematics skills, this is a session not to miss.
Valuing a Small, Owner-Operated Business
There is a huge, underserved market for valuations of small, owner-operated businesses. Many appraisals fail to take into account the unique characteristics of these businesses such as revenue, assets, employees, locations, and territories. Join expert David Coffman for this must-attend webinar where he’ll cover how to modify and adapt your valuation procedures to produce credible valuations of owner-operated businesses. Attendees will learn about the hypothetical sale of a small, owner-operated business and the valuation methods ...
Portfolio Equations and Applications in Valuation
A portfolio is a basket of financial assets such as stocks, bonds, and loans. We need solid equations for modeling portfolios when valuing basket options, valuing loan guarantees collateralized by a portfolio of risky assets, sizing and pricing risk tranches in structured finance, determining capital requirements for banks, risk assessment, etc. Join Gary Schurman to learn how to build portfolio equations and apply them to real-world problems.
How to Value Equity and Debt Securities Using Advanced Lattice Modeling
Lattice models, typically binomial lattice models, are utilized for the valuation of more complex equity and debt securities that cannot be valued using a closed-form solution (such as the Black-Scholes-Merton option pricing model); however, the modeling and selection of appropriate methodology present many challenges. In this webinar, Dave Duffendach and John Sawyer will present several approaches to valuing complex equity and debt securities, including the identification of a security’s features and payoffs that require a ...
Prospective Financial Modeling With Excel
Getting started: Define the modeling objectives Developing the assumptions Sufficient relevant data Sample size Evaluate data integrity and reliability Building the model Designing the model to address the objectives or stated problem Continuity with historic data Integrated progressive submodels Movable and scalable models Evaluating precision Precision vs. reasonable certainty Establishing a baseline Minimizing forecasting errors Identifying issues Data-based errors Calculation Errors Outlier values Anomalies and random events Common sense and professional judgment ...
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