BVU News and Trends February 2019
A monthly roundup of key developments of interest to business valuation experts.
Feedback wanted on new additions to PE/VC guide
The AICPA has released for comments working drafts of two new case studies from its Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (PE/VC Guide).
AICPA issues new forensics standard
There is often an overlap between valuation work and forensics, so a new standard for forensic services should be of interest to valuation experts.
BVU News and Trends January 2019
A monthly roundup of key developments of interest to business valuation experts.
RSM issues white paper on AICPA PE/VC draft guide
A white paper prepared by RSM on the AICPA’s working draft of its PE/VC guide provides summaries of key provisions affecting middle-market entities.
AICPA issues inventory valuation guidance
The AICPA’s Financial Reporting Executive Committee has issued an early working draft of Inventory Valuation guidance and would like feedback by Feb. 1, 2019.
More on the alimony deduction
Our coverage of the recent AICPA Forensic & Valuation Services Conference sparked a few comments from readers concerning the elimination of the tax deduction for alimony that becomes effective December 31.
New tax law gets the spotlight at the AICPA FVS conference
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.
AICPA releases working draft on credit losses
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.”
BVU News and Trends November 2018
A monthly roundup of key developments of interest to business valuation experts.
AICPA Council nixes request to suspend ABV change
At a meeting of the AICPA’s governing Council, members voted in favor of continuing to implement an earlier decision to expand eligibility for the Accredited in Business Valuation (ABV) credential to non-CPAs, according to a report in the Journal of Accountancy.
ABV change on agenda at AICPA Council meeting
The AICPA’s decision to open up the ABV credential to non-CPAs has received nearly unanimous criticism from the ABV community.
BVU News and Trends October 2018
A monthly roundup of key developments of interest to business valuation experts.
Two options for streaming the AICPA FVS Conference
If you can’t travel to Atlanta for the AICPA Forensic & Valuation Services Conference November 5-7, you can still attend it online with two options.
Lively talk re: ABV controversy
Several discussion threads on the BVR LinkedIn page take up the decision by the AICPA to open up the ABV credential to non-CPAs.
BVU News and Trends September 2018
A monthly roundup of key developments of interest to business valuation experts.
Another state CPA society weighs in on ABV controversy
The Massachusetts Society of CPAs (MSCPA) has sent a letter to the AICPA that echoes the suggestion of others to hold off on the decision to open up the ABV credential to non-CPAs.
ABV boycott starts; state CPA societies join the fray
“Out here in California, the skies are filled with smoke, many people have homes in ashes or that are fire damaged, and now the AICPA has gone out of its way to give away our livelihoods to non-CPAs.”
Comments due on CVFI performance framework
The AICPA is launching the Certified in Valuation of Financial Instruments (CVFI) credential, and an exposure draft of a “performance framework” has been issued (dated Aug. 13, 2018) that establishes parameters of documentation requirements. Comments are due September 17.
Backlash revs up over ABV change; call for boycott
During a webinar, opponents of the decision by the AICPA to open up the ABV credential to non-CPAs told the organization that it “hasn’t heard the end of this” and to “watch out for unintended consequences.”
Full agenda now available for AICPA’s FVS Conference
The full agenda for the AICPA Forensic & Valuation Services Conference taking place November 5-7 in Atlanta is now available.
BVU News and Trends August 2018
A monthly roundup of key developments of interest to business valuation experts.
AICPA stands by ABV decision; critics rebut timeline
In a letter to CPA/ABV holders, the AICPA says it has “carefully considered” the concerns about opening up the ABV credential to non-CPAs and that it stands by its decision to do so.
Amid outcry, AICPA will improve decision process re: credential matters
In a response to harsh criticism, the AICPA has acknowledged that it could have handled the decision process better regarding the change in eligibility for the ABV credential.
New survey reveals overwhelming criticism of AICPA's ABV change
The vast majority (94%) of almost 2,000 respondents to a survey say they disagree with the AICPA’s decision to open up the ABV credential to non-CPAs (see prior coverage).