Any one have comparables for valuing a cemetary
Bob Garvey is looking for comps in this area…you can respond on the Business Valuation Professionals group at LinkedIn (you’ll have to sign up if you’re not already a member).
Quick reference guide to FASB Codification project
By the way, if you’re still learning the new, codified numbers assigned to former FASB accounting standards, then you may want to download The Codification at a Glance, recently posted by Accounting Insights (National Professional Standards Group and McGladrey & Pullen, CPAs). As reported last summer, (see BVWire# 88-4), the FASB Accounting Standards Codification has [...]
Do you know what personal goodwill is? Does any one?
Goodwill hunting: new survey searches for standard definition “Many business valuations are influenced by goodwill, but amazingly, there is no standard, functional definition of personal goodwill,” says David Wood (Wood Valuation).To help correct the problem, Wood and BVR’s Adam Manson reviewed the leading business valuation textbooks, articles, and court cases. They assembled the definitions in [...]
Can a customer relationship ever warrant an indefinite life?
Most respondents to this question posed in the popular BV Professionals discussion group on LinkedIn say no, not only because it would be a “hard sell” to auditors (five years ago, as one commenter notes, who would have thought customers like General Motors could go away or Lehman Brothers lose its brand?). More comments: “I [...]
The “bellweather” private equity firm files to go public
BVR’s partner Pitchbook announced this morning that Kohlberg Kravis Roberts has filed to sell $2.2 billion worth of stock in an initial public offering on the NYSE. The sale values the private equity firm at approximately $7.3 billion. Including debt, its value is closer to $9.3 billion. The firm reported an economic net income of $1.48 [...]
CPE: Matthews and Wachter on implied minority discounts
The story of implied minority discounts (IMD) in the Delaware Chancery Court (DCC) raises central discount questions for appraisers: should I adjust public data for minority discounts? How? What do experts–and the courts–say? In fact, the courts and the business valuation profession disagree. This Friday, March 19, learn about the strange history of the [...]
Veritas case challenges IRS position on transfer pricing valuations
Veritas Software Corp. v. Commissioner, 2009 WL 4723602 (U.S. Tax Court)(Dec. 10, 2009) After aggressively expanding in the 1990s, Veritas Software Corporation became the largest manufacturer of advanced storage management software, holding distribution agreements with leading original equipment manufacturers (OEMs), including Microsoft and HP. Typically, the OEMs bundled the Veritas software into their operating systems [...]
Guideline public company method help from BVR and PitchBook
Check back here Monday, March 15! BVR will release the new PitchBook/BVR Public Company Comps tool. It’s designed to save hours (or days) every time an appraisal requires a GPCM analysis. Check in with your account executive (Linda Mendenhall, Shelly Seger, or Joe Marasco at 503-291-7963) for an early preview.
IVSC aims to ‘demystify’ valuation of intangibles
The adoption of International Financial Reporting Standards (IFRS) has greatly increased the need for improved information and consistency when valuing intangibles, especially in the context of cross-border mergers and acquisitions, joint ventures, and other investment arrangements. However, too often a disconnect results between “the book value of companies and the real market value of their [...]
500 new deals in Pratt’s Stats show lack of recovery
Valuation multiples have definitely taken a fall over the past two to three years, according to new data from Pratt’s Stats®: Year of Sale Count Median revenue Median selling price Median price/ sales multiple Median price/ gross profit 2007 1,493 $844K $419K 0.58 1.03 2008 1,626 $535K $250K 0.52 0.88 2009 862 $483K $207K 0.47 [...]
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