Business Valuation Update Yearbook, 2017 Edition

February 2017 PDF (349 pages)

BVR (editor)

Business Valuation Resources, LLC

 In the business valuation profession, ideas and methods and approaches continually evolve, making it imperative to stay current with the most innovative approaches and techniques, court decisions, and regulatory and professional standards. BVR has you covered with the Business Valuation Update Yearbook 2017. This newest edition from the publishers of Business Valuation Update covers the year’s most groundbreaking and thought-provoking advancements in business valuation including IRC Sec. 2704, DLOM, cost of capital, and more. This critical desktop reference keeps you ahead of your peers with on-the-ground reporting from valuation experts, thought-leaders, and BVR’s editorial team.
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Additional Detail


The Yearbook is divided into six easy to maneuver sections:

  • Section I. Business Valuation Approaches, Methods, and Entity-Specific Issues: This section covers the latest industry news as well as the most discussed and most controversial business valuation topics that arose over the past year. Make sure you're in-the-know on topics such as the debate over DLOM, cost of capital determinations, and IRC Sec. 2704. Other articles of note deal with damages, ESOPs, internet domain valuation, economic obsolescence, and determining reasonable compensation.

  • Section II. Industry-Specific Valuation:  These chapters include coverage on a challenge to traditional thinking with regard to valuing hotels, methods and techniques to use to value businesses in the emerging cannabis industry, new approaches to valuation within the healthcare industry, and discussion on the particular valuation aspects of specific industries, including accounting firms, oil and gas, franchises, architectural/engineering firms, veterinary practices, and wealth management firms.

  • Section III. From the Courtroom:  Litigation is an important and growing area for many valuation practices. Get vital tips on expert depositions, pitfalls for expert witnesses, issues in tax valuation, and more.

  • Section IV. Business Valuation Profession and Practice Management:  Get insights you can put into action regarding valuation firm performance and practice development. This section includes a recap of developments in the valuation profession, results from BVR's firm economics survey, and several interviews with leading practitioners.

  • Section V. Reviews of Data Sources and New Books:  Do you know which publications and resources you should put to use in your firm? This section includes an in-depth review of The Valuation Handbook—Guide to Cost of Capital, tips to utilize the new features in Pratt’s Stats to improve your search for comparable private transactions, and reviews of several new business valuation practice books.

  • Section VI. Data:  This important section is an amalgamation of the monthly cost of capital data presented in tabular and chart form.

Table of Contents

INTRODUCTION

SECTION I. BUSINESS VALUATION APPROACHES, METHODS, AND ENTITY-SPECIFIC ISSUES

  • Some Key Takeaways From the AICPA FVS Conference
  • NY’S Unfair Application of Shareholder-Level Marketability Discounts
    By Gilbert E. Matthews, CFA, and Michelle Patterson, JD, Ph.D.
  • When to Consult a Compensation Expert During a Valuation
  • Simplified MUM for Determining Personal Goodwill
    By Thomas Gillmore, CPA, CFE, CVA
  • Seven Tips on Cost of Capital From the AICPA FVS Conference
  • DLOMs in N.Y. Statutory Fair Value Cases—A Follow-up to Matthews
    By William C. Quackenbush, MBA, ASA, MCBA, BCA, ABAR
  • Complications With Event Studies in Securities Litigation
    By Adrian M. Cowan, Ph.D., and Paul J. Seguin, Ph.D.
  • How to Avoid Tripping Up Over Subsequent Events
  • Multifactor Scorecard Analysis Helps With Debt-Versus-Equity Problem
    By J. Richard Claywell, CPA ABV, ASA, CBA, CVA, ICVS, CM&AA, MAFF, CFD, ABAR
  • A Quantitative Model Evolves For Determining Passive Appreciation
  • A Low-Risk, Low-Cost Option to Enhance a Damages Claim
  • Valuation and Forensics Expert Provides Tips on Damages Engagements
  • DLOM in N.Y. Fair Value Cases:  Private Company Discounts Are Not Caused by Lack of Marketability
    By Gilbert E. Matthews, CFA
  • Letter to the Editor:  Definitional Problem Underlies N.Y. Courts’ Unfair DLOM Stance
  • ESOP Valuations in the Wake of ‘Final” DOL Rule
  • Government Crackdowns, M&A, S Corps in Spotlight at NYSSCPA BV Conference
  • Debate Rekindles Over Private Company Cost of Capital Model
  • Internet Domain Valuation:  Not Just Economic Theory
    By Jim Horvath and Jeff Horvath
  • Debunking the Myth That Business Appraisers Lowball Brand Values
    By Christof Binder, Ph.D., MBA
  • Wrestling Match Over Valuation of Hulk Hogan Sex Tape
  • A Dozen Action Ideas From NACVA’s 25th Anniversary Conference
  • Adjustment Mapping and the Public-vs.-Private Company Discount Debate
    By Mike Smith
  • Changes in the Regs and Standards Take Center Stage at ASA Fair Value Event
  • Economic Damages Experts Offer Top Advice at NACVA Confab
  • How to Help Ensure a Valid Survey for a Damages Analysis
  • Top BV Experts Field Tough Questions at NACVA ‘Hardball’ Session
  • Expanding the Cost of Capital Horizon Beyond CAPM
    By Adam Manson
  • Economic Obsolescence:  An Adjustment That Is Often Overlooked
    By Gary R. Trugman CPA/ABV, MCBA, ASA, MVS
  • Experts Size Up Controversial IRS Estate Valuation Regs
  • Proposed Sec. 2704 Regs Fly in the Face of BV Theory and Tax Law
    By Ronald D. Rudich, CPA/ABV/CFF, MS, MCBA, CVA/ABAR/MAFF, CM&AA, CMEA, BCA
  • PPA-Style Method Helps Fine-Tune Estimate of Personal Goodwill
  • The Valuation of Restricted Stock Grants Based on Total Shareholder Return
    By Robert Barnett, CFA, FRM
  • Groundswell Builds as IRC Sec. 2704 Regs Sink In
  • Transaction Valuation Tips From an Investment Banker
  • Social Media, Sec. 2704 Regs, New Fair Value Credential Highlight IACVA/SECBA Conference
  • Cultures and Continents Class in High-Stakes Divorce Valuation
    By Andrew Strickland

SECTION II. INDUSTRY-SPECIFIC VALUATION

  • AICPA Conference Covers Healthcare Valuation Challenges and Opportunities
  • Valuation Multiples for Accounting Firms Per Pratt’s Stats
    By Adam Manson
  • 9 Pitfalls of Valuing OTC Derivatives in the Oil and Gas Industry
  • Experts Answer Queries on Hot Topics Affecting Midstream Oil & Gas Firms
  • New Approach to FMV of Physician Pay Could End Hospital Woes
  • Valuing a Franchise? Consider These Seven Specific Characteristics
  • Latest Study Reveals Valuation Differences in the A/E Industry
  • Eleven Special CSR Factors that Can Affect the Value of a Veterinary Practice
  • How to Avoid Harsh HIPAA Penalties When Doing Healthcare Valuations
  • Valuation Characteristics and Methodologies for Urgent Care Centers
    By Aaron Murski, CVA and Elliott Jeter, CFA, CPA/ABV
  • Hotel Valuation: Breaking the Rules—But Getting it Right!
    By Franz H. Ross, CBA, CVA, MRICS
  • IRS Reasonable Compensation Job Aid:  Healthcare Perspective
    By Mark O. Dietrich, CPA/ABV, MBA, MST
  • Coping With the Challenges of Valuing a Cannabis-Related Firm
  • Dietrich Gives Insights Into Latest Issues in Healthcare Valuations
  • Special Considerations in Valuing Wealth Management Firms
    By Patrice Radogna, ASA, CBA, CVA, CPA

SECTION III. FROM THE COURTROOM

  • 10 Best Valuation Cases for 2015
  • Defending the Use of a Monte Carlo Analysis in Court
  • Judge Laro Toplines Panel on Hot Issues in Tax Valuation
  • Recent Case Points Up Danger of the Discovery Trap
    By Sylvia Golden, Esq.
  • Attorneys Reveal Seven Surprising Views on Expert Depositions
    By Sylvia Golden, Esq.
  • Pitfalls for Expert Witnesses Doing a Valuation Report Review

SECTION IV. BUSINESS VALUATION PROFESSION AND PRACTICE MANAGEMENT

  • Business Valuation Year in Review 2015
  • BVU Profile: Newest BVU Editorial Board Member Is a Strong Advocate of Education
  • BVU Profile: NACVA Thomas R. Porter Award Winner Offers Advice and Insights to Valuation Experts
  • BVU Profile: What Is the Practice of BV Like in the Middle East?
  • Exclusive Survey: Most BV Firms Expect 2016 Revenues to Top Last Year
  • Exclusive Survey Reveals BV Research Sources of Choice
  • Exclusive BVR Survey Examines BV Firms’ Mix of Practice Revenue

SECTION V. REVIEWS OF DATA SOURCES AND NEW BOOKS

  • Appraiser Review:  How Pratt’s Stats Upgrades Improve Your Search for Comps
    By Jessica Landay, CVA, and Ron Seigneur, CPA/ABV/CFF, ASA, CVA, CGMA
  • Fannon and Dunitz Bridge the Gap in the Practice of Economic Damages
  • Book Review:  A Consensus View—Q&A Guide to Financial Valuation
    By Harold G. Martin Jr., CPA/ABV/CFF, ASA, CFE
  • What’s New and Noteworthy in the DP 2016 Valuation Handbook
    By Ronald L. Seigneur, CPA/ABV/CFF, ASA, CVA, CGMA
  • Sneak Preview of New Material in the BVR/AHLA Healthcare Valuation Guide
  • Book Review:  The Comprehensive Guide to Economic Damages, Volume 1 and 2, 4th Ed.
    By Michael D. Pakter
  • Latest Data on Private-Company Transactions in the United Kingdom
  • Experts Reveal Details of the Business Valuation Market in India

SECTION VI. DATA

  • Monthly Cost of Capital Data