Business Valuation Update Yearbook, 2022 Edition
January 2022 PDF (454 pages)
BVR (editor)
Business Valuation Resources, LLC
A new year means another annual “greatest hits” publication! The Business Valuation Update Yearbook 2022 covers the previous year’s most groundbreaking and thought-provoking advancements in valuation. It captures changes in regulations and professional standards, key takeaways from professional conferences, and tactical practice-building ideas. This critical desktop reference puts you ahead of the competition with on-the-ground reporting by the BVR editorial team including an Introduction by Andy Dzamba, BVR Executive Editor and insights from notable BV experts.
Section I. Business Valuation Specific Approaches, Methods and Entity-Specific issues: Covers the latest news of the profession as well as the most discussed and most controversial business valuation topics that arose over the past year.
Section II. Cost Of Capital: Covid-19 continues to pose unique challenges to valuation as a whole. This chapter revisits analytical framework first developed in early 2020 to measure the impact primarily from a business appraisal standpoint.
Section III. Business Valuation Conference Coverage: Goes over various valuation conferences that occured in the last year and their impact on the profession.
Section IV. Legal Regulatory Standards: Stay up to date on the latest news regarding the legal, regulatory, and BV standards landscape. 2021 was a big year for business valuation in numerous respects and we've covered many of the most important cases here.
Section V. Business Valuation Profession and Practice Management: This section includes a number of articles that reveal insights into how firms are attracting more valuation work and what management practices have worked best.
Section VI. Reviews of Data Sources and New Books: Includes a look at some new resources for valuation professionals, with new publications added over the previous year.
Section VII. U.S. and Global BVU News Roundup: A month-by-month compilation of news briefs and important announcements related to the business valuation profession not covered in the main articles.
Section VIII. Data: A compendium of the monthly cost of capital data originally presented in the Business Valuation Update newsletter.
Section I. Business Valuation Approaches, Methods, and Entity-Specific Issues
Choose Your Client Wisely in a Bankruptcy Engagement
New Research From Grabowski and Abbott on Recovery and Growth
Monetary Remedies in Trademark Infringement Litigation
By Stanley P. Stephenson, Litigation Economics LLC (Tampa, Fla., USA),
and Gauri Prakash-Canjels, Litigation Economics LLC (Washington, D.C.,
USA)
Price Versus Value: A Transaction and Litigation Perspective
By Craig A. Jacobson and Richard B. Peil, B. Riley Advisory Services
(New York, N.Y., and Phoenix, Ariz., USA)
The NICE DLOM Method Gets a Few Shots in the Arm
Using a Discounted Cash Flow Methodology in Uncertain Times
By Ronald L. Seigneur, Seigneur Gustafson LLP
(Lakewood, Colorado, USA)
Letter to the Editor: Comments on Using Jensen’s Alpha for Active and Passive Appreciation
Letter to the Editor: Response to Dr. Abbott’s Comments on Using Jensen’s Alpha for Separating Active and Passive Appreciation
Do Not Use the Arithmetic Mean to Average Multiples
By Gilbert E. Matthews, CFA, Sutter Securities Inc.
(San Francisco, Calif., USA)
Letter to the Editor: The Use of the Arithmetic Mean to Average Multiples
What Business Appraisers Can Learn From the GameStop Saga
By Joseph W. Thompson, CFA, ASA, Griffing Group (Oak Park, Illinois, USA)
14 Ways to Detect Misrepresentations in Business Interruption Claims
New BVR ‘Power Panel’ Series Offers Seasoned Insights on Timely Issues
New Study Analyzes Earnout Data in DealStats
By Brian Wendler and Rebecca Crowley, National Business Valuation
Services (Dallas, Texas, USA)
The Strategic Premium: An Inside Look at M&A Prices
By Jim Horvath, ValuQuest Limited (Canada)
Economic Damages From Design Patent Infringements
By Richard F. Bero, The BERO Group PA (Chicago, Ill., USA) and
Christopher V. Carani, Esq., McAndrews, Held & Malloy Ltd.
(Chicago, Ill.,USA)
Eliminating Outliers in Financial Data Without Cherry-Picking
By J. Richard Claywell, J. Richard Claywell, CPA (Houston, Texas, USA)
Ghaidarov Offers a New Framework for DLOM
Updated Data in Largest Pre-IPO Study Reveal High Discounts
COVID-19 Just a Speed Bump in Hot M&A Market, Say Speakers at Transaction Advisors Forum
Defining Terms: Forecasts v. Projections—Why Does It Matter?
New Ballgame for FMV in Healthcare Under Final CMS Rules
Damodaran Says COVID-19 Crisis Puts More Emphasis on the Story Behind a Valuation
Forecasting Expenses for an Economic Damages and Lost Profits Analysis
Red Flags Appear in BVR’s DLOM Survey Results
Examining the ‘Reasonably Objective Basis’ Concept for Projections
Warning to Business Valuers Looking to Use New ESG Ratings
COVID-19 Cloud Has Silver Lining in the Cannabis Sector
‘Survey Says’ for FMV of Physician Compensation Is on Its Last Legs
How COVID-19 Has Impacted Insurance Agencies and Brokerages
Statistical Methodologies for Analyzing Active and Passive Appreciation
Physician Distribution, Mobility, Fair Market Value, and Compensation Surveys: An Update
By Mark O. Dietrich, CPA/ABV, Mark O. Dietrich, CPA, PC
(Orleans, Mass., USA)
Section II. Cost of Capital
New Research Paper Joins Call to ‘Let Go’ of the Size Premium
Assessing Additional Economic Risk Due to COVID-19 (Update)
By Ronald L. Seigneur, Seigneur Gustafson LLP
(Lakewood, Colorado, USA)
Company-Specific Risk Is Not All That Specific
By Peter J. Butler, Valtrend (Eagle, Idaho, USA)
Input Needed to Develop New Guidance on Company-Specific Risk
Good News: Key Research on Private Cost of Capital Is Back
Section III. Business Valuation Conference Coverage
Insights From the Record-Breaking ASA Fair Value Conference
Adjusting the Income Approach Highlights AICPA FVS Conference Panel
Insights, Tips, and Practical Advice From the AICPA FVS Conference
Global Valuers Converge for the Art and Science of Business Valuation Conference
Valuers and Attorneys Advise How to Stay Out of Daubert Trouble
Timely Insights From the NYSSCPA Business Valuation and Litigation Services Conference
New World of Energy Valuations, Per Speakers at the ASA Houston Conference
‘Absurd’ CAPM, Size Impact, ‘Sense Checks,’ and Family Firms Highlight the ICAEW Conference
Premier ASA Complex Securities Conference Breaks Attendance Record
Recap of the VSCPA Forensic and Valuation Virtual Conference
Economy, Cannabis, Physician Pay, SPACs, and Expert Testimony Among the Hot Topics at the NJCPA BV Conference
Valuers Converge (in Person!) at the ASA International Conference
Items of Interest Gleaned From the ASA Conference Networking Ops
Section IV. Legal, Regulatory, Standards
The Top Valuation and Damages Cases of 2020
By Sylvia Golden, Esq.
Massive Overhaul of Global BV Glossary in the Works
Highlights of 2020 Delaware Valuation Decisions
By Gilbert E. Matthews, CFA, Sutter Securities Inc.
(San Francisco, Calif., USA)
Fair Price for Delaware Fiduciary Actions Can Exceed Appraisal Fair Value
By Gilbert E. Matthews, Sutter Securities, Inc. (San Francisco, Calif., USA),
and Matthew L. Miller, Esq., Abrams & Bayliss LLP (Wilmington, Del., USA)
Personal v. Enterprise Goodwill in Florida Divorce Cases: What the Appellate Courts Say
By Jimmy Stewart, Baker Tilly (Tampa, Fla., USA)
Alerding Gives an Update on BV Standards and Guidance
Three Court Cases You Must Read Before Writing Your Next Valuation Report
Insiders Examine Michael Jackson Estate Valuation Dispute
Mercer Predicts a Shakeout in the U.S. BV Credentialing Landscape
SEC Comment Letters Reveal COVID-19 Impacts—and Much More
How Recent Insolvency Reform in the UK Impacts Business Valuations
Florida’s Proposed Change to Goodwill Could Set a Precedent
By Richard West, Esq.; Bruce Parisi, ASA, ARM; and Thomas Gillmore,
CPA/ABV/CFF, CFE
Letter to the Editor: A New Development in Personal Goodwill
An Inside Look at the Landmark ESOP Valuation Case
How to Explain Personal Goodwill to a Trier of Fact for a Divorce Valuation
By Gary Trugman, Trugman Valuation (Parkland, Florida, USA)
Section V. Business Valuation Profession and Practice Management
Business Valuation Year in Review 2020
Practice Growth Opportunity in Valuing Financial Instruments
Section VI.Reviews of Data Sources and New Books
Treasure Trove of Data in the 2021 Business Reference Guide
How to Use New Data on Invested Capital Premiums
Updated Data Help Appraisers With RULs of Intangible Assets
Premium Gap Closes Between Strategic and Financial Acquisitions
Benchmark Data on Contract-Based Intangible Assets and Remaining Useful Lives
Section VII. U.S. and Global BVU News and Trends Roundup
January 2021 U.S. and Global News and Trends
February 2021 U.S. and Global News and Trends
March 2021 U.S. and Global News and Trends
April 2021 U.S. and Global News and Trends
May 2021 U.S. and Global News and Trends
June 2021 U.S. and Global News and Trends
July 2021 U.S. and Global News and Trends
August 2021 U.S. and Global News and Trends
September 2021 U.S. and Global News and Trends
October 2021 U.S. and Global News and Trends
November 2021 U.S. and Global News and Trends
December 2021 U.S. and Global News and Trends
Section VIII. Data
Monthly Cost of Capital Data
Look Inside the Guide
