For ABVs and ABV aspirants
A CPA's Guide to Valuing a Closely Held Business , Gary R. Trugman , American Institute of Certified Public Accountants, 2001. Available from Business Valuation Resources, 7412 S.W. Beaverton-Hillsd ...
Lack of marketability discounts suffer more controversial attacks
The apparently well-meaning Drs. John Kania and Mukesh Bajaj are at it again, espousing discounts for lack of marketability for stocks of closely held companies that are a fraction of those encountered in the real world.
From experts in valuation in each of nine industry groups to a takeoff on Survivor, AICPA BV Conference offers variety
The 2001 AICPA Business Valuation Conference held at the Venetian in Las Vegas December 2-4 was attended by 840 people (by the way, the Venetian served the best conference food that I've ever experienced).
Reviewing case law helps avoid most frequent errors
Miriam Mason and Michael Cohen presented a seminar at the 1999 AICPA National Business Valuation Conference, December 5-7, 1999, in Las Vegas, Nevada. The title of the presentation was From a Matrimo ...
Lawyers should have BV standards handy for reference
by Shannon Pratt This is the third in a series of editor's columns based on Dr. Pratt's recent book, The Lawyer's Business Valuation Handbook. – LK When you encounter a business valuatio ...
2000 in review: Tax Court FLP rulings, 3 books, much more
The U.S. Tax Court came out with a series of very favorable family limited partnership (FLP) rulings. Business Valuation Resources took several steps to better serve our constituents, and three ne ...
Our editor-in-chief chronicles five years of Business Valuation Resources activities; Many milestones in half a decade
It's been a busy five years for me since the first issue of this newsletter in October 1995! When Stacy Ison first suggested that I write a five-year anniversary column, I hadn't fully realized ...
Intellectual property valuations increasingly important
Please search the BVPapers section for a 20-page paper on Intellectual Property Valuation. Shannon Pratt: What's happening in the intellectual property (IP) world today that's affecting intellectual property valuations? Jim Rigby: First, let's define intellectual property for your readers. Intellectual property is a subset of the assets that we refer to as intangible assets. Intellectual property (IP) includes assets such as trademarks, patents, copyrights, and trade secrets. We see four primary trends that are having an effect on or that will have ...
Valuing a Business 4th edition now out; Reflects growing consensus
The fourth edition of Valuing a Business is finally available, and I am quite pleased with the resulting product. The very extensive amount of updated and new material is a testament to the ...
Mission of newsletter to help understanding of business appraisal
The mission of this newsletter is to help judges and lawyers to have a better understanding of business appraisal, including theory, methods and supporting evidence. The mission is not only to give y ...
Business valuation expert can make or break case; How to locate and evaluate qualified business appraisers
Recognition and use of professional business appraisers has risen dramatically in recent years. This is partly due to the educational programs of professional appraisal organizations and partly due to ...
Judge Laro's views on "fair market value"
Valuation is a fascinating subject because, like beauty, value is in the perception of the beholder. As early as 42 B.C., Publilius Syrus said, "Everything is worth what its purchaser will pay ...
ABA panel calls for elimination of ancillary business restrictions
By Shannon Pratt and Yazhi Li The theme of the ABA Tax Section Plenary Session was whether to do away with the rules prohibiting law firms from engaging in ancillary businesses with non-lawyer ...
Class Schedules for AICPA, ASA, IBA and NACVA posted for 2000
Every year, BVU makes an effort to publish the course schedules for the coming year from the four organizations that promote and teach business valuation courses. As well as a print version, we're off ...
'Net Asset Value' Rejected as Form of Liquidation
This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc.
Paskill Corp. v. Alcoma Corp.
At issue is the fair market value of minority shareholder's stock at the time of a merger.
Court Denies Deduction of Trapped in Capital Gains Tax; Disallows Deduction for Liquidation Costs
This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc. (Okeechobee).
Fair Value Cannot Be Determined Using Net Asset Value Alone
The Delaware Supreme Court ruled that a corporation valued pursuant to the appraisal statute could not be valued solely by reference to its net asset value because net asset value equates to the theoretical liquidation value. The statute states that a bu ...
Record attendance and strong presentations at AICPA BV conference
n PAINTING A MASTERPIECE – THE CREATION OF AN EFFECTIVE VALUATION REPORT Kevin Yeanoplos, CPA/ABV Beacon Valuation Group, Inc. Dressed appropriately ( see accompanying ...
Reflections on 30 years of building an organization in a rewarding profession
This column is based on a talk titled "Thirty Years of the Standard of Excellence," which I was asked to present at Willamette Management Associates' 30 th anniversary Professional Development Re ...