It’s time for the 2010 Survey of BV Firm Best Practices and Economics
BVR surveys the entire profession on financial, compensation, marketing, certification, specialization, and other essential management topics every two years. It’s the only survey of business valuation firm management available, and the deadline for participating is October 15th. Your contributions are valuable to the entire profession; last time, in 2008, over 600 business valuation firms participated. [...]
Convergence continues apace…
The FASB sent out a press release this morning announcing that they’ve “completed the first phase of its joint project with the IASB to develop an improved conceptual framework” and issued Concepts Statement No. 8, Conceptual Framework for Financial Reporting, including Chapter 1, “The Objective of General Purpose Financial Reporting,” and Chapter 3, “Qualitative Characteristics [...]
Ask the experts: Valuing private company stock with a related put right
A BVWire subscriber recently asked if we’d seen any case law on chartable contributions with put rights—i.e., when a taxpayer donates private company stock together with a put right to sell the stock back to the company, how does the related put right affect any discount for lack of marketability (DLOM) in valuing the gift [...]
Where do I find discounts to NAV for closed end funds?
A great question was posed on the BV Professionals Group on LinkedIn. Espen Roback and Michael Brown both wrote back to recommend Morningstar. Brown says “you can subscribe to the CEF Module of Morningstar Principia. I believe the annual cost for monthly updates is around $650. It has saved a substantial amount of time for [...]
Does the value of a software license always transfer to the acquirer?
IP Spotlight reminds us of the importance to M&A due diligence and valuations of the 9th Circuit decision that a software user is a licensee NOT an owner of a copy of the software (Vernor v Autodesk), where the copyright owner 1) lays out the fact a license agreement is in force, 2) significantly restricts [...]
You could be sitting on the beach in Miami next Monday with your ASA/CICBV (and BVR!) friends…
The second of the “big three” BV conferences starts a week from today. Join U.S. and Canadian business appraisers in Miami for “a wave of momentum” – BV momentum that is. The ASA and CICBV have put together a conference featuring the following tracks: Valuation for financial reporting Transactions/advisory services Fair market value/litigation, and A [...]
The six “C’s of IP valuation from Robert Reilly
Any type of valuation report prepared for any type of intellectual property (IP) assets intended for any type of audience should adhere to the following six rules, Robert Reilly (Willamette Management Associates) told attendees at the BVR/Morningstar Summit on Best Practices in Intellectual Property Valuation, held in Chicago last week. The “Six C’s” of the [...]
ASA BV-Eletter sees increased specialization in BV
Rick Warner, ASA, AVA and editor of the BV-ELetter recently wrote that “fair value for financial reporting continues to develop its own accepted tools, techniques, and best practices perhaps leading someday to an additional accreditation noting a degree of competence within that area.” As a result, Warner believes that the BV profession is headed toward [...]
Get more business doing damages and lost profit valuations
Next Friday, October 8, BVR’s Webinar Series on Damages Essentials kicks off with “Lost Profits Calculations: Methods & Procedures” featuring Robert Gray and James O’Brien (ParenteBeard, LLC). Gray and O’Brien will discuss what every appraiser needs to know when engaging in a lost profits case: from calculations methods and related supporting – and admissible – evidence [...]
Despite non-compete, patient records are ‘professional goodwill’
BVWire’s recent report on McReath v. McReath (BVWire # 96-2) reported that the Wisconsin Court of Appeals may have just revised the majority rule on the disposition of private practice goodwill to say that all salable goodwill is a marital asset, subject to division, whether corporate or professional. Further, a non-competition agreement can serve as [...]
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