ASA goes to South Korea with business valuation training
The American Society of Appraisers BV training courses will be presented in Seoul, Korea in partnership with HANA Appraisal & Consulting Co. Ltd. . Scheduled for April 18-26, 2012, the courses will be prepared as International Institute of Business Valuers (IIBV)’s 101 and 102 courses which have exactly same contents and validation for the accreditation [...]
Yet another tax reform proposal targets discounts for lack of marketability–at least for non-business assets
The latest tax reform proposal, which Rep. Jim McDermott (D-Wash.) introduced last month as the “Sensible Estate Tax Act of 2011,” would raise the maximum estate and gift tax rate to 55% and lower the applicable exclusion amount to $1 million. It would also eliminate valuation discounts on investment assets, such that: the value of any nonbusiness [...]
Bob Cimasi becomes fellow at RICS
Bob Cimasi (HCC) was elected a “Fellow of the Royal Institute of Chartered Surveyors” (FRICS) on December 15, 2011. While it’s not quite a peership or elevation to the Royal Family, the RICS citation recognizes Bob’s “extensive experience in and contribution to the valuation field.” He’s previously been recognized in various ways by ASA, IBA, the AICPA [...]
Pratt’s Stats’ top five industries in 2011
Restaurants continue to top the list of transactions added to Pratt’s Stats in 2011, followed by business services (not classified elsewhere) and software companies: “There were no remarkable changes this year as compared to last,” says Adam Manson, BVR’s manager of financial research. Barring any atypical trends, such as the consolidation of automobile dealerships during the 1990s [...]
BizMiner updated to include 2Q ’11
BVR’s recommended source of industry data, including state-by-state data and market share analyses, is BizMiner. We continue to feel it offers the greatest range of sources, eliminating most of the biases inherent in other industry databases. Plus, BizMiner has been able to get their quarterly updates done reasonably quickly, given the volume of data required. [...]
A banner year at Valuation Advisors–with great steps forward for their pre-IPO DLOM database
BVR just received an update from Valuation Advisors this morning that’s been posted online. That database now contains 8,690 pre-IPO transactions used to calculate a discount for lack of marketability. The database started 2011 with 4,917 transactions – so we’ve seen an increase of 3,773 transactions. In addition to the regular monthly updates Valuation Advisors [...]
Lilly’s experience offers more evidence that patents are not “indefinite lived”
When Eli Lilly’s patent protection for its antipsychotic drug Zyprexa expired last fall, analysts sought information on how Lilly would make up for the loss of $3B in related revenues. They were comfortable in forecasting 2011 earnings per share of $3.67. In addition, most companies facing the patent cliff force significant reductions in sales expenses [...]
Congress steps into DOL/ERISA fiduciary controversy that’s keeping many appraisers away from ESOP valuations
The 2012 fiscal year appropriations bill in Congress boosts funding levels for the Department of Labor (DOL)—but comes with several constraints on the DOL’s most controversial regulatory proposals, says an update from the Washington D.C. Employment Law blog. Of particular interest to BV appraisers, the current appropriations package includes a provision that would: Prevent the Employee Benefits [...]
BVR adds updated “bible” of Canadian business valuation
The Guide to Canadian Business Valuations, published by Thomson Carswell, was just updated last month. BVR has signed an agreement with the publisher to help promote this three-volume, looseleaf guide for our customers with Canadian or cross-border clients. Written by Richard Wise, this Guide is intended to Provide practical information that is easy to understand and use – [...]
Top free 2011 downloads from BVR: a snapshot of BV issues & interests
By far the most popular free download from BVR this past year was the IRS’s DLOM Job Aid, followed by another tax-centered topic, a copy of the Tax Court’s Gallagher decision (see table below). Recent updates to the Goodwill Hunting Guide illustrate the continuing interest in this complicated topic, as does number six on the list, on factors influencing personal [...]
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