Should you consider a special COVID-19 premium?
During a recent webinar, a question came up as to whether or not valuation analysts should be separately identifying a risk rate associated with the impact of COVID-19 on a subject company.
IVSC’s Darling describes how business valuation during COVID-19 differs from the 2008 financial crisis
The IVSC, in collaboration with RICS, released a new video looking at the impact of COVID-19 on global markets, geopolitics, and the global economy on 20 April.
IPEV offers guidance for 31 March valuations
The International Private Equity & Venture Capital Valuation Guidelines Board has issued special guidance for applying the IPEV Valuation Guidelines when estimating fair value at 31 March 2020.
Hitchner shares his COVID-19 timeline
When was COVID-19 known or knowable for valuation purposes?
AICPA issues a Subsequent Event Toolkit
In a prior issue of BVWire, we presented one valuation expert’s way of dealing with the coronavirus in valuation reports before it was known or knowable.
M&A impacts discussed during recent BVR town hall
There were several questions about M&A activity amid the coronavirus crisis during BVR’s recent town hall webinar.
More resources for business valuers completing valuation engagements now
To help support the inquiries we’ve been receiving from our customers about how to address the coronavirus in the valuations they are working on, BVR has created a new COVID-19 business valuation resource website where we offer links to current news, past articles and webinars, third-party articles, and more to help BVWire—UK readers.
Shift more emphasis to numerator, panel says
During this time of crisis, the numerator of the valuation equation needs much more attention than before, said a panel during yesterday’s free BVR webinar.
Follow-up comments: How to deal with COVID-19 for Dec. 31, 2019, valuations
Harold Martin (Keiter) has the following additional comments regarding the appraisal discussed in last week’s BVWire article dealing with a valuation date of Dec. 31, 2019, and whether the impact of the coronavirus should be considered a subsequent event.
How to deal with COVID-19 for Dec. 31, 2019, valuations
Several BVWire readers have asked about how to treat the COVID-19 issue when you have a valuation date of Dec. 31, 2019.
Free BVR webinar on business valuation during coronavirus offered 7 April
BVR will present Extreme Uncertainty: How Valuation Experts Should Respond to Today’s Volatility and Risk, a free webinar, on 7 April.
New paper offers improvement to the Gordon growth model
“Capitalization 2.0—Terminal Value Under Changing Capital Structure” is a new paper by Mike Adhikari (Business ValueXpress Software), a valuation and M&A advisor.
D&P examines impact of coronavirus on asset values
Duff & Phelps is monitoring the financial impact of the coronavirus on businesses and asset values across the investment funds sector globally, according to a client alert.
Smarter Spreadsheets: Improving the Efficiency and Accuracy of a Valuation in Excel
This Isn’t Your Father’s Microsoft Excel. Spreadsheets are a very useful tool for completing any analysis, not just for business appraisal, but for all kinds of projects. Unfortunately, many users never realize just how powerful Microsoft Excel actually is. Valuation expert and Excel enthusiast Shawn Hyde is here to share all of the functions and tools that have been added over the years that have really make an impact on valuation’s most utilized software. Experience ...
Building the Essential BV Templates in Excel
January 2020 PDF, Softcover (141 pages)
Shawn Hyde
Business Valuation Resources, LLC
Global BV News: CBV Institute releases exciting research on cryptoassets
One of the highlights of the ICVPME 11th International Conference in New Zealand was a session, “Decrypting Crypto,” presented by Tara Singh and Tylar St. John of the CBV Institute, a Canadian valuation professional organization (VPO).
Rohling the Dice With a Calculation Engagement
In a divorce case in Alabama. An appeals court affirmed the trial court’s acceptance of a calculation engagement. But the case does not represent a legitimate victory for calculation engagements as much as it represents a win by forfeit.
Do UK business valuators struggle to explain themselves? Perhaps it’s because of ‘18 topics badly explained by many finance professors’
The confusion resulting from many finance practices isn’t your fault, says Pablo Fernandez (professor of finance, IESE Business School in Madrid) in a new and highly readable essay.
New edition of Valuation and Common Sense by Fernandez
The 2019 edition of Valuation and Common Sense by Professor Pablo Fernandez (IESE Business School, University of Navarra) is now available—and it’s gratis.
Free download of an improvement to the Gordon growth model
One of the benefits of attending BV conferences in person is that you can also pick up some interesting things outside the formal sessions, such as during networking events, in the exhibit hall, or in the local watering hole after a long day.
Pablo Fernandez offers Valuation and Common Sense for free
Valuation and Common Sense (2019, 7th edition) ‘explains the nuances of different valuation methods and provides the reader with the tools for analyzing and valuing any business,’ Pablo Fernandez, professor of finance, IESE Business School, tells BVWire—UK.
IPEV Board updates guidelines for private capital valuations
The International Private Equity and Venture Capital Valuation (IPEV) Board’s current update reflects valuation guidance from IFRS 13, ASC Topic 820 (US GAAP), and other inputs and is available here.
Do the Valuation Multiples You’re Using Actually Apply to Your Firm?
In my last Perspective (November 2018), I touched on the importance of why using the “right” level of profit was important when comparing valuations of one’s firm to others on an earnings multiple basis (e.g., 4.2x EBITDA, 3.9x EBIT, etc.). Although there are various levels of profit that firms rely on for quick pricing indications, I focused solely on EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, depreciation & amortization) for the sake of simplicity.
Do acquisition earnouts increase business value?
It’s not uncommon that business valuation analysts need to consider the contingent value and costs of earnouts paid to the management of acquired companies.
How Changes to Transfer Pricing Rules Impact Valuation Practitioners
The authors discuss new rules in the transfer pricing landscape and a trend toward carving out the financial and economic study from the functional analysis.