Global BV News: IVS exposure draft will address ESG
This April, the International Valuation Standards Council (IVSC) will publish an exposure draft outlining proposed updates to the International Valuation Standards (IVS). The draft will seek feedback on changes including new standards on “data and inputs” and explicit references to environmental, social, and governance (ESG) within the valuation process.
BV movers . . .
People: An impressive number of appointments at the International Valuation Standards Council.
CPE events
Determining the FMV of Privately Held Promissory Notes , March 3, 10:00 a.m.-10:50 a.m. PT/1:00 p.m.-1:50 p.m. ET. Featuring: Bruce A. Johnson (Munroe, Park & Johnson Inc.). CPE credits: 1.0.
2023 ASA Energy Valuation Conference
The Use of Monte Carlo in Valuation
Participants will understand the origins of Monte Carlo, as well as learn basic applications for use in the real world. The webinar will cover basic statistics and mathematics required to understand how Monte Carlo simulations are performed, including discussing the central limit theorem and the law of large numbers. The participant will learn how to model stochastic equity/asset processes for use in option pricing and contingent consideration valuations. The participant will learn basic Excel functions ...
What It’s Worth: Valuing Fitness Centers, Health Clubs, and Gyms
February 2023 PDF (146 pages)
BVR (editor)
Business Valuation Resources, LLC
COE Estimates From Leading Data Sets Are All ‘Very Close’
Jim Hitchner conducted a hypothetical engagement using Kroll’s Navigator, BVR’s Cost of Capital Professional, the Pepperdine study, and Damodaran’s data to estimate cost of equity (COE).
The Valuation of Special Share Classes in the United Kingdom
A special analysis of a recent exposure draft concerning shares to employees in the United Kingdom (England and Wales, Scotland, and Northern Ireland ...
New ‘Court Cases Method’ for DLOM Points Up a Conundrum
A new study analyzes court cases to determine a more legally defensible discount for lack of marketability (DLOM). But should business valuers look to court cases for “good” valuations?
BV News and Trends February 2023
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends February 2023
Business valuation news from a global perspective.
New Research Strengthens Support for the Three-Stage DCF
Unpublished research from Roger Grabowski and Ashok Abbott reveals data on firm growth over three stages: startup, stabilizing, and long term.
The Walsh v. Preston ESOP Case—Is It a Victory or an Escape?
Commentary from BVR’s legal editor on an important ESOP valuation case.
Tom West’s Legacy to Appraisers: The Business Reference Guide
BVR was very saddened to learn of the passing of Tom West, co-founder of the International Business Brokers Association and founder of the Business Brokerage Press. Business valuers have him to thank for the Business Reference Guide, which contains pricing rules of thumb for almost 700 types of businesses.
Raiders of the Lost Equity
As has been reported, Kroger, in October 2022, announced that it would buy its smaller competitor, Albertsons, for $24.6 billion. The combined companies would own about 5,000 stores, making it the dominant corporate chain in the country.
GPC Report Template
Free Downloads
I. GUIDELINE PUBLIC COMPANY METHOD The ideal methodology to value an asset is to observe the prices paid for that asset in the open market. However, when valuing shares of a privately held company, no such marketplace exists. The market approach is a valuation technique whereby the value of a company is estimated based on pricing relationships associated with market transactions involving similar companies. These observations make it possible to estimate the value of shares that have no active market. The ...
Valuing Real Estate Centered Entities in 2023
A review of the problems business appraisers and analysts see in companies holding substantial amounts of real estate, often necessary to run the business and produce cash flow. Discussion will focus on understanding and incorporating real property appraisal conclusions including an intangible asset and how to test those findings with business valuation evidence ...
Damodaran examines impact of inflation on profitability
In his fifth data update for 2023, Professor Aswath Damodaran (New York University Stern School of Business) focuses on trends in company profitability in 2022, including the impacts of inflation.
A fifth exposure draft of USPAP is in the works
Based on feedback to the fourth exposure draft of USPAP, a fifth exposure draft will be issued, according to a statement from The Appraisal Foundation (TAF).
SaaS valuation multiples see dramatic decrease
While the software-as-a-service (SaaS) industry is poised for significant growth, revenue multiples are projected at a three-year low, averaging a prepandemic level of about 5.5%, according to a report from FirstPageSage.
New Deal Alert feature in DealStats
In response to user feedback, DealStats has added a Deal Alert feature that allows you to receive notifications when new transactions are added to DealStats, based on your specific saved search parameters.
Dental practices take top spot in industry research on Vertical IQ
For 2022, the most popular industry profile on the Vertical IQ industry research platform was dental practices, based on number of user visits.
Global BV News: First-ever Innovation Valuation Summit in Korea March 21-22
“Valuation of new assets, what’s the future?” is the theme for the premier Innovative Valuation Summit.
BV movers . . .
Elan Sternberg, CPA, CVA, has been designated as director of forensic and litigation services at Miami-based Kaufman Rossin in the firm’s forensic, advisory, and valuation services practice.
CPE events
Valuing Real Estate-Centered Entities in 2023. February 22, 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.