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Sultan v. Malik

Appeals court upholds trial court’s valuation of accounting firm based on asset approach where prevailing expert added goodwill value as intangible; court says intrinsic standard of value does not mandate use of income approach for service-based entity.

Court Approves of Adding Goodwill as Intangible in Asset-Based Valuation of Accounting Practice

Appeals court upholds trial court’s valuation of accounting firm based on asset approach where prevailing expert added goodwill value as intangible; court says intrinsic standard of value does not mandate use of income approach for service-based entity.

Court Highlights Role of Community Labor in Goodwill Analysis

Appeals court says record supports nonowner spouse’s claim to a share of owner’s CPA’s practice; business changed from separate to community property, and most of its value consisted of professional goodwill, which was created by community labor.

Absence of Noncompete Drives Goodwill Valuation in Liquidation Sale

In case of voluntary corporate dissolution under judicial supervision, appeals court finds receiver’s minimum bid value was based on correct standard of value (liquidation value) and calculated auction sales price reflected all elements of a going concern ...

In re Marriage of Vandal

Appeals court says record supports nonowner spouse’s claim to a share of owner’s CPA’s practice; business changed from separate to community property, and most of its value consisted of professional goodwill, which was created by community labor.

Court Highlights Role of Community Labor in Goodwill Analysis

Appeals court says record supports nonowner spouse’s claim to a share of owner’s CPA’s practice; business changed from separate to community property, and most of its value consisted of professional goodwill, which was created by community labor.

Absence of Noncompete Drives Goodwill Valuation in Liquidation Sale

In case of voluntary corporate dissolution under judicial supervision, appeals court finds receiver’s minimum bid value was based on correct standard of value (liquidation value) and calculated auction sales price reflected all elements of a going concern ...

Perry v. Sackett

In case of voluntary corporate dissolution under judicial supervision, appeals court finds receiver’s minimum bid value was based on correct standard of value (liquidation value) and calculated auction sales price reflected all elements of a going concern ...

Murky Goodwill Testimony Makes Partner Agreement Best Indicator of Value

Trial court was justified in disregarding any commercial goodwill in husband’s interest in a professional practice and relying on partnership agreement, Texas appeals court finds, where goodwill is not accessible and expert testimony as to its existence a ...

Hill v. Hill

Trial court was justified in disregarding any commercial goodwill in husband’s interest in a professional practice and relying on partnership agreement, Texas appeals court finds, where goodwill is not accessible and expert testimony as to its existence a ...

More Thorough Expert Persuades Court in Valuing CPA Firm

Court affirms reliance on income approach to value solo CPA practice, including distinction between personal and enterprise goodwill, but rejects trial court’s finding that 25% of the firm was the husband’s separate property, based on his demonstrated int ...

In re Marriage of Hanscam

Court affirms reliance on income approach to value solo CPA practice, including distinction between personal and enterprise goodwill, but rejects trial court’s finding that 25% of the firm was the husband’s separate property, based on his demonstrated int ...

Do CPA Firm Agreements Trump Statutory FV Value of Retiring Partner’s Shares?

Delaware Chancery Court resolves ambiguities in CPA firm operating agreement to find that its provisions for liquidation value, rather than statutory fair value as a going concern, control buyout price for retiring partner.

Showell v. Pusey

Delaware Chancery Court resolves ambiguities in CPA firm operating agreement to find that its provisions for liquidation value, rather than statutory fair value as a going concern, control buy-out price for retiring partner.

Wright v. Wright

Trial court correctly applies 20% "attrition discount" to value of husband's accounting firm when there was credible, non-speculative evidence that the firm would lose customers in the future due to natural attrition.

Peterson v. Jackson

Court confirms fair value determination of CPA firm based on income, market, and asset-based approaches; a former buy-in transaction concerning the same firm; and a non-compete agreement that effectively transferred personal goodwill to the enterprise.

Mulcahy, Pauritsch, Salvador & Co. v. Commissioner

Tax Court says, under independent investor test, taxpayer is not entitled to presumption that deductions for “consulting fees” are reasonable compensation; firm’s expert relied on irrelevant statistics to support reasonable compensation for services claim ...

Baffling ‘Hide the Ball’ Tactics in Economic Damages Discovery

Court sanctions plaintiff for frustrating discovery process by failing to reveal sources and methods for calculation of economic damages in $200 million suit for securities fraud.

Kingsway Financial Services, Inc. v. PricewaterhouseCoopers LLP

Court sanctions plaintiff for frustrating discovery process by failing to reveal sources and methods for calculation of economic damages in $200 million suit for securities fraud.

Appraiser Provides Accurate Measure of Debt-Ridden CPA Firm in Divorce

Court values accounting practice as a partnership, when it is a corporation "in name only."

Scott v. Scott

Court values accounting practice as a partnership, when it is a corporation "in name only."

Company Found to be Solvent Prior to Bankruptcy

The U.S. Court of Appeals for the Ninth Circuit affirmed the lower court's solvency determination. It found that the company operating as a Debtor-in-Possession for two years after filing Chapter 11. It additionally affirmed the lower court's valuation ...

Interest Awarded on Equalization Payment

The Iowa Court of Appeals reversed the lower court’s decision not to award interest on the equalization payment resulting from the valuation and distribution of a pest control business. The appellate court determined that to allow the husband to use the w ...

In re Dak Industries, Incorporated: Edward M. Wolkowitz v. American Research Corporation, et al.

The U.S. Court of Appeals for the Ninth Circuit affirmed the lower court's solvency determination. It found that the company operating as a Debtor-in-Possession for two years after filing Chapter 11. It additionally affirmed the lower court's valuation ...

In re the Marriage of Charlene J. Price v. Michael R. Price

The Iowa Court of Appeals reversed the lower court’s decision not to award interest on the equalization payment resulting from the valuation and distribution of a pest control business. The appellate court determined that to allow the husband to use the w ...

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