Business Valuation Guide (Published by Wolters Kluwer, formerly CCH)
By: George Hawkins, ASA, ABV, CFA, and Michael Paschall, ASA, ABV, CFA, JD (both of Banister Financial, Inc.)
Banister Financial’s George Hawkins and Michael Paschall, two of the nation's leading business valuation experts, provide the practical insights, fundamental know-how and detail the complexities of business valuation, as well as how to employ valuation methodologies in real world assignments.
In addition to step-by-step guidance to help professionals at all levels of understanding, the Guide also provides attorneys who must deal with business valuation issues the information they need, whether the matter involves an estate, or cross-examining a business valuation expert in a divorce or dissenting shareholder case.
For those involved in divorce business valuation matters, the book also discusses the use of statistical techniques for dealing with the issue of "active" versus "passive" changes in business valuation during the marriage and the extent to which the change in value is a separate or marital property component. This has become a major topic in divorce cases.
The Business Valuation Guide is published by Wolters Kluwer, one of the world’s largest, oldest and most respected legal, tax and accounting publishers.
- a comprehensive treatment of business valuation in 2,000+ pages
- how to start a business valuation project, including sample lists of information needs for various types of companies and professional practices
- prepare for the company interview, with hundreds of questions to understand a company to prepare a valuation
- analyzing risk and its impact on valuation
- financial statement and ratio analysis, sources of peer industry financial results information
- adjusting (normalizing) a company's historic income statement results for officer and shareholder compensation that is above or below an arms length market rate, unusual or non-recurring income or expense items
- the income approach to business valuation (capitalization of earnings and net cash flow, discounted future earnings and net cash flow)
- the market approach to business valuation (guideline transaction method involving prices paid in the sales of similar companies, guideline public company method)
- the cost approach to valuation, involving adjusted net asset and liquidation values
- developing discount and capitalization rates in the income approach to business value and sources of data used
- preparing income statement and cash flow projections
- reaching a business valuation conclusion
- business valuation discounts and premiums, marketability discount studies
- professional practice business valuation issues
- family LLC valuation issues, including depositions, testimony
- ESOP-related business valuations
- stock option valuation
- restricted stock valuation
- developing blockage discounts for large blocks of thinly traded publicly company shares
- valuations of accounting firms, medical practices, consulting firms, contractors, orthodontic practices
- estate/gift tax valuation issues
- litigation- preparing for depositions/trials, critiquing valuations of opposing business appraisers, avoiding mistakes
- regression analysis in business valuation
- active-passive appreciation for business valuations in divorce
- full sample business valuation reports
- controversial business valuation issues, including S corporations and LLCs, family LLC discounts
- valuing notes receivable
- and much more...
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