USPAP board needs qualified BV members
If you might ever consider serving on the Appraisal Standards Board (ASB) of The Appraisal Foundation, now is the time. Kramer completing ASB term Yale Kramer, currently the only BV person on the ...
IRS adequate disclosure final regulations respond to extensive comments
On Dec. 22, 1998, the IRS published proposed regulations regarding adequate disclosure of gifts on gift tax returns. Extensive written comments responding to the Federal Register notice were receive ...
IRS releases recommendations on valuation policies
It has long been known that there are serious deficiencies in the Internal Revenue Service's valuation policies. There is a lack of cohesiveness in valuation reporting requirements and an absence of u ...
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 ...
1999 in review: What we learned in a busy year
My 30 th year in the business valuation profession ( see December 1999 BVU , p.1) was an active one in terms of development in the profession. Here are some of the highlights: l 1999 was o ...
2000 Professional Associations Directory
Last published in December 1998, we have updated our directory of the twelve professional associations we find of particular interest to business appraisers and users of business appraisals. Again, we ...
Its an "injustice" to say CPAs "don't understand USPAP"
I would like to comment on the article that appeared in the August 1999 issue of the BVU (p.9), interviewing Chris Rosenthal , who is the AICPA representative on the Board of USPAP rev ...
Mercer scrutinizes Tax Court
"Are Business Valuation Standards Being Invoked by the Tax Court?" Mercer, Z. Christopher, Valuation Strategies, July/August 1999, pp. 34-39. This article presents a very evenhanded review of Jud ...
IRS appraisal practices violate ... taxpayers right to uniformity
This article summarizes IRS Senior Appraiser Matt McErlean's Report to the Treasury Secretary General for Tax Administration. The full report is on BVU online at www.bvupdate.com. – SP The cur ...
20 years of accumulated thoughts from a BV profession leader
Mike Bolotsky is one of those rare individuals that has spent his entire professional working life in business appraisal, starting with the American Appraisal Princeton office in 1978. His service wit ...
When the Appraiser Takes the Stand
As the valuation profession evolves and gains credibility, appraisers will be called on more and more to provide litigation support and dispute resolution services with respect to numerous types of controversies. Recognizing this, the author presents 20 recommended procedures for valuation practitioners who provide testimony. While some may seem like common sense, all are important.
New USPAP draft is now available; greatly improved
The second exposure draft of proposed 1999 changes to the Uniform Standards of Professional Appraisal Practice (USPAP) is a huge improvement over the first draft. It is now available, and I encourage ...
Second USPAP exposure draft due to be released in mid-June -- Written comments due in 70 days; August 15 deadline for applications for ASB, AQB, Board of Trustees
Because of the importance of USPAP to the business appraisal profession, I'm devoting our lead article space this issue to proposed USPAP revisions and related Appraisal Foundation matters. I urge a ...
Hypothetical appraisals
Please explain what constitutes a "Hypothetical Appraisal". I have seen this term used in some of the BV publications ( i.e. PPC - Guide to Business Valuations ). Yet, I am not sure I ful ...
Appraisal Foundation testimony at hearing calls for diversity
Direct representation on the parts of the appraisal disciplines affected was the virtually unanimous theme of testimony of a hearing May 2 on the size and composition of the Appraisal Foundat ...
ESOP conference addresses whether appraiser may be a fiduciary
At The ESOP Association's Valuation Advisory Committee meeting May 14, Jared Kaplan , a well-known ESOP attorney with McDermott, Will & Emery , said, "If you are a financial advisor to a fiduc ...
USPAP revisions might classify some functions - consulting services
Before finalizing my March 1996 editorial, "What should qualify as 'appraisal' services? — USPAP still needs some clarification," I sent drafts to the Appraisal Standards Board. They wrote, " The ASB ...
What should qualify as "appraisal" services?
As the Uniform Standards of Professional Appraisal Practice (USPAP) gains deserved recognition, the need becomes more acute to distinguish between analysis intended to qualify as an "appraisal" or "ap ...
Well intended law misses the mark
Florida has enacted a set of laws and regulations well-intended to prevent harm to the public as a result of poor business appraisal practice. However well-intended, all responsible business appraiser ...
USPAP '96 now available; Useful for all appraisers
The 1996 Uniform Standards of Appraisal Practice (USPAP) will be available by the time you receive this newsletter, and I recommend that subscribers get a copy. The cost is $25, and an order form is ...