Get caught up on everything BV with two new resources
The latest news in the business valuation profession—plus complete coverage of recent court decisions—is provided in two new guides from BVR.
Willamette publishes a ‘Best of Insights’ issue
In commemoration of the 50th anniversary of Willamette Management Associates, the firm has put out a special edition of its Insights publication.
Business Valuation Year in Review 2018
The new tax law, lively debates, new guidance, a strong protest, and a simpler approach to estimating cost of capital were just some of the highlights in the business valuation profession during 2018.
New Tax Law Adds Nuances to Valuing Wineries
The Tax Cuts and Jobs Act includes special tax breaks for a number of industries, including the winery sector. This adds to the special differences experts need to consider when valuing these entities.
Takeaways From the AICPA FVS Conference
We attended many of the sessions at the AICPA’s 2017 Forensic and Valuation Services conference in Las Vegas along with over 1,000 attendees and found no shortage of tips, ideas, and advice.
Business Valuation Year in Review 2017
It was another eventful year for the business valuation profession, and here’s a wrap-up of notable developments of 2017.
Book Review: Understanding Business Valuation: A Practical Guide to Valuing Small to Medium Sized Businesses, 5th Edition
A valuation expert reviews the newest version of one of the leading business valuation texts, written by Gary Trugman.
New edition of Understanding Business Valuation now available
In addition to revisions to existing material and examples, there’s new material on valuing stock options, preferred stock, debt, and startup ventures.
ASA BVers convene in Houston for the Advanced BV Conference
The conference sessions were an excellent mix of theory and practice—ideas that you can use in your practice right away.
Chancery’s fusion valuation triggers remand and some words of wisdom by Del. Supreme Court
The Delaware Supreme Court recently overturned a 2016 ruling by the Delaware Court of Chancery that arrived at fair value by weighting the results of three valuation techniques equally. The high court's Chief Justice Strine, who once headed the Chancery, found this approach was problematic and used the decision to provide valuation advice to his successor, Chancellor Bouchard, who had overseen the appraisal proceeding.
How the valuation approaches stack up for solar energy firms
Appraisers have to consider each of the valuation approaches, but the income approach is the only way to value a solar company, says a valuation expert in the industry.
A General Option Valuation Approach to Discount for Lack of Marketability
A general option-based approach to estimating the discount for lack of marketability is offered. It is general enough to capture maturity, volatility, hedging availability, and investor skill, as well as other important factors. The model is shown to contain several option-based models as special cases. The model also contains two weighting variables that provide valuation professionals much needed flexibility in addressing the unique challenges of each nonmarketable valuation assignment. Selected prior empirical results are reinterpreted ...
Insignia Systems, Inc. v. News America Marketing In-Store, Inc.
Federal district court denies Daubert challenge to plaintiff’s lost profits expert, finding his reliance on optimistic management projections and comparable companies were better suited for cross-examination rather than exclusion.
"Highly troubled" by Estate of Adams
I am highly troubled by several recent circumstances. You are familiar with Gross (BV Update has discussed it at length). It is clear to anyone with a modicum of financial background that ...
Speakers discuss landmark cases, market approach and discounts
This report concludes our coverage of the Nov. 15-17 AICPA Business Valuation Conference. For summaries of other presentations and a list of audiotapes available, see BVU December, 1998, pp. 1-4.