Zyla shares his expertise on option pricing
Don’t forget to register for the “Advanced Workshop on Option Pricing Modeling” taking place Thursday, February 24. Featuring Mark Zyla, this intensive four hour workshop will include case studies and hands-on examples on applications such as: Employee stock option analysis Intangible asset analysis Discounts for lack of marketability Contingent considerations As this critical valuation technique [...]
Zyla’s step-by-step approach to goodwill impairment testing under FASB ASC 350
Take note of this great post on the CPA Insider from the AICPA. In the article, Mark Zyla points out that consistency is the most important principle in Step 2 valuation analyses (conducted only when the first analysis concludes that the business unit’s fair value is less than its book value)–in most cases either of [...]
FASB makes tentative decision on Topic 820 relating to nonpublic entities
At their December 21, 2010 board meeting, FASB tentatively decided not to allow exceptions for nonpublic entities to the fair value principles and concepts applicable to the measurement of fair value in the amendments to Topic 820, Fair Value Measurements and Disclosures. The amendments will require nonpublic entities to disclose the following: The current use [...]
ASA training courses for the year kick off next week!
Our friends at the ASA wanted BVWire to remind every one of two top-tier CPE opportunities next week. ASA is offering BV201, BV204 and BV301 (Intangibles) classes January 13-16 in Los Angeles. There are still spaces left, And, the ASA’s Advanced One-Day Current Topics in Fair Value Conference is January 12 in New York City, at [...]
Valuing an intangible asset? The CAC Monograph is a must read
BVWire has mentioned TAF’s monograph series frequently, but Monday at the ASA/CICBV Business Valuation Conference in Miami, Chris Mellon (Delphi Valuation) reviewed the importance of the their The Identification of Contributory Assets and Calculation of Economic Rents. “If you are involved in the valuation of intangible assets, this monograph is a necessity,” says Mellon. The [...]
Zyla offers a model PWERM analysis at ASA/CICBV annual meeting
There’s no better teacher on the use of option pricing models in valuation than Mark Zyla, and his session this afternoon in Miami was no exception (Mark also does most of the fair value training for the AICPA FVS). He reminds all appraisers that Topic 805 requires the measurement of contingencies in business combinations. There are [...]
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 [...]
Professor Damodaran invites BVR readers to class
Aswath Damodaran, Professor of Finance at the Stern School of Business at NYU, has started teaching another year of corporate finance and valuation. And, according to a recent post on his blog Musings on Markets he is “just as excited as I was the day that I taught my first class” in 1986. Quoting Damodaran, [...]
Question from Mark Zyla regarding AICPA fair value meeting
Mark’s running the AICPA’s Fair Value Measurement Workshop in NYC September 16-17. He’s asked for input on issues in Topic 820 (157), 805 (141R), and related fair value for financial reporting topics. One place you can respond to Mark is on the LinkedIn BV Professionals site (you need to register first, if you haven’t already).
Sample fairness opinion available from BVR
During the recent BVR webinar on fairness opinions, Jeffrey Rothschild (McDermott Will & Emery) told the audience there are generally two different models of fairness opinions; one very short, generally a page-and-a-half, while the other is typically three or four pages. “The longer opinion will typically state quite clearly what it is not. The shorter [...]
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