A Dozen Tips From the VSCPA Forensic and Valuation Services Conference
Business Valuation Update attends a great many conferences and webinars, but we never fail to learn something new. Yes, the topics can be the same, but, no matter how many times you hear about something, a different presenter will offer some new information or give a different perspective on it, which is very valuable. Such was the case at the recent two-day Forensic and Valuation Conference held by the Virginia Society of CPAs (VSCPA), which had an excellent mix of topics and speakers.
AICPA releases final business combinations guide
The AICPA has released the final Accounting and Valuation Guide—Business Combinations, which provides guidance and illustrations regarding the accounting and valuation considerations for business combination transactions.
RESEARCH UPDATE. Featured Paper: ‘Key Forensic Accounting Takeaways: People Ex Rel. James v. Donald J. Trump et al.’
The featured paper in this monthly roundup of research papers of interest to valuation experts focuses on the confusion over the definition of “estimated current value” for personal financial statements, which was a hotly debated issue at the New York trial of Donald Trump. Other papers are listed that discuss ESG, CEO/CFO gender, thinly traded assets, and using Monte Carlo to estimate a synthetic beta.
BV News and Trends October 2024
A monthly roundup of key developments of interest to business valuation experts.
New paper examines ‘estimated current value’ in Trump case
The FASB needs to clear up the definition of how assets are valued in personal financial statements, concludes a new paper.
BV News and Trends September 2024
A monthly roundup of key developments of interest to business valuation experts.
Takeaways from the VSCPA FVS conference
At the time of this writing, BVWire is attending the two-day Forensic and Valuation Conference held by the Virginia Society of CPAs (VSCPA).
Tomorrow! VSCPA FVS conference
One of the notable local events we attend every year is the two-day Forensic and Valuation Conference held by the Virginia Society of CPAs (VSCPA).
Comments due soon on the revisions to the cheap stock guide
Comments are due soon—by September 20—on a working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation guide.
Next week: VSCPA Forensic and Valuation Virtual Conference
This year, the Forensic and Valuation Conference held by the Virginia Society of CPAs (VSCPA) September 19-20 will be virtual only.
AICPA Wants Feedback on Partial Revisions to Cheap Stock Guide
A working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation Guide (the “cheap stock” guide) has been issued, and the AICPA would like some feedback by September 20. This is part of a broader forthcoming update of the 2013 edition of the guide.
Have you commented on the revisions to the cheap stock guide?
Comments are due by September 20 on a working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation guide.
Schiano v. Harsanyi
This case was important for two reasons. First, it was a bellwether deciding that an employee bookkeeper can be liable for assisting in fraudulent schemes representatives of the company perpetrate and can be found to have breached a fiduciary duty to the company. Secondly, forensic accountants, in determining damages, should now be alerted and alert attorneys to this possible liability of an employee bookkeeper.
New York Appellate Court Finds Bookkeeper Employee Liable for Aiding and Abetting Fraud and Breach of Fiduciary Duty
This case was important for two reasons. First, it was a bellwether deciding that an employee bookkeeper can be liable for assisting in fraudulent schemes representatives of the company perpetrate and can be found to have breached a fiduciary duty to the company. Secondly, forensic accountants, in determining damages, should now be alerted and alert attorneys to this possible liability of an employee bookkeeper.
Have you commented on the revisions to the cheap stock guide?
Comments are due by September 20 on a working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation guide.
Reminder: Comments wanted on revisions to cheap stock guide
The AICPA’s Financial Reporting Executive Committee has released a working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation guide.
Comments wanted on draft chapters of revised cheap stock guide
The AICPA’s Financial Reporting Executive Committee has released a working draft of two updated chapters from the AICPA Valuation of Privately-Held Company Equity Securities Issued as Compensation Guide.
ECB USA, Inc. v. Savencia, S.A.
This case was an example of the application of Rule 702 as to witness acceptance or exclusion. In this case, the same witness was allowed to testify in part and excluded in part.
U.S. District Court Allows Testimony in Part of Expert Witness on Certain Damages
This case was an example of the application of Rule 702 as to witness acceptance or exclusion. In this case, the same witness was allowed to testify in part and was excluded in part.
Tax rate slipup in dental practice valuation
In a North Dakota divorce case, both sides had expert valuations done on the husband’s dental practice.
Top Issues Impacting Cannabis Valuations
An apple is an apple. A pear is a pear. A dispensary in MyTown USA is not the same as a dispensary in NextDoor USA. A cultivation facility in Michigan is not the same as a cultivation facility in Illinois. This webinar will focus on adult use legalization, Section 280E, geography, research and resources and other important issues impacting valuations in the cannabis space.
North Dakota Supreme Court Affirms Choice of Wife’s Expert’s Value of Dental Practice
The North Dakota Supreme Court reviewed several issues regarding the district court’s valuation of and distribution of the marital estate, including the determination of the value of the husband’s dental practice. The district court accepted the higher value of the wife’s expert’s value of the dental practice, noting that the wife’s witness was more credible than the husband’s witness.
Kemmet v. Kemmet
The North Dakota Supreme Court reviewed several issues regarding the district court’s valuation of and distribution of the marital estate, including the determination of the value of the husband’s dental practice. The district court accepted the higher value of the wife’s expert’s value of the dental practice, noting that the wife’s witness was more credible than the husband’s witness.
Two Ways to Treat the Vanishing Bonus Depreciation Tax Break
Michelle Gallagher and Nathan Olberding (both with Adamy Valuation) present a nice example of how to consider the sunsetting of the bonus depreciation rules in a valuation. The rules were enacted by the Tax Cuts and Jobs Act (TCJA).
Business tax break extensions stalled
At the time of this writing, the tax extenders legislation is still tied up in the Senate.