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Rigging Valuations

A two-way street In this article, Britt Madden and Britt Madden, Jr. respond to Jim Hitchner’s July 2013 QuickRead article on “Rigging the Cost of Equity”. The authors contend that the rigging is more likely the result of a lack of understanding the current status of small business in the present economy, which has left it forever changed. ...

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Business Valuator? Retiring Soon?

Suggestions for business valuation professionals thinking about retiring This article contains some tips from a long-time practitioner to business valuators who are reaching retirement age, but are not ready to retire and just play golf. ...

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Auditing the Auditors

The International Forum of Independent Audit Regulators (IFIAR) recently released its second annual Survey of Inspection Findings for the year 2013. The report includes findings from IFIAR members’ (international audit regulators independent of the audit profession) inspections of audit firms, primarily those associated with the largest international audit firm networks. Findings from audit firm activities ...

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IRS Grants Relief To Small Estates

(…and possibly their valuation consultant?) Rev. Proc. 2014-18 provides a simplified method for certain taxpayers to obtain an extension to elect portability under Code Sec. 2010(c)(5)(A). This method allows a widow or widower to apply a deceased spouses unused exclusion (DSUE) amount to the surviving spouse's subsequent transfers during life or at death. In these situations, the ability to file and use the ...

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Comcast Pleads Case in Time Warner Merger

Comcast recently filed its public interest statement with the Federal Communications Commission (FCC) explaining how the American public will benefit from its $45 billion planned merger with Time Warner Cable. Comcast claims the merger is necessary because it can’t compete with the likes of Google, Apple, Verizon and Netflix--companies with a national footprint. On the flipside, over 50 public interest grou ...

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Preparing as an Expert Witness for Not-For-Profit Entities

Forensic accounting examinations of not-for-profit entities The keys to performing a successful expert forensic accounting fraud engagement is to gain an understanding of the present internal control system, including policies [or lack thereof] in place to prevent fraud and abuse, as well as other key steps and procedures, as John J. DeLuca outlines in this article. ...

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The Pot Stock Renaissance

With Colorado and Washington state legalizing casual use of marijuana, more states considering it and 20 allowing medicinal usage, at least 60 publicly traded entities have scrambled to cash in by offering pot penny stocks. Virtually none emerged through an IPO to avoid disclosure scrutiny. Real estate, marketing and even oil outfits have gotten into the game, either through reverse mergers or declaring a n ...

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Five MLB Teams Valued Over $1 Billion

The average major league baseball (MLB) team today is worth $811 million, up 9 percent from last year. That’s not too bad for being in the middle of the pack. To make it to the top, however, a lucrative deal and strong regional network are essential. For the first time, five teams combine the right ingredients to make it over the $1 billion mark. The increase in value for the teams was more than double the ...

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The Value Opportunity to Private Companies

Can private companies really increase their value 80-100 percent by limiting unsystematic (controllable) risks? The November/December 2013 issue of The Value Examiner featured Ken Sanginario’s article entitled, “The Valuation Business: A Strategic Road Map for Success.” In this article, Sanginario answers questions raised by skeptics to make the case that value doubling for private companies is possible. ...

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IRS Names Bitcoin Property, Not Currency

Where the IRS stands on the classification of Bitcoin and the purchases made with it has been ambiguous. There are a lot of questions surrounding the virtual currency, not the least of which is how it factors in tax matters. While Bitcoin operates like real currency in some situations, the fact still stands that it has no legal recognition as currency in any jurisdiction. In spite of this contradiction, the ...

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Grant Thornton Survey: Regulation Overwhelming Auditors

In a recent Grant Thornton survey, more than two thirds (69 percent) of internal audit professionals say they’d love to focus on strategic risks, but regulatory compliance duties and the rising costs they incur are getting in the way. An additional 36 percent said these obstacles prevent resources from being allocated to higher-value priorities. Since almost the beginning of the recent financial global cris ...

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Accuracy-Related Penalties

Undervaluation can be costly The recent U.S. Supreme Court case, U.S. v. Woods, overturned legal precedent and signaled that accuracy-related penalties can be imposed in more instances. This broad interpretation exposes clients and practitioners to substantial penalties. In this article, three recent cases are summarized on how, when, and why accuracy-related penalties are applied. ...

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Forensic Accounting Board Resigns

All members of the American Board of Forensic Accounting, the advisory board behind the American College of Forensic Examiners Institute’s (ACFEI) Certified Forensic Accountant credential have recently resigned. The unanimous resignation comes amid questions about the legitimacy of the credential and the organization, as a whole. According to accountingtoday.com, the board resigned en masse after learning f ...

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SBA Answers to Congress on Going Concern

Fifteen U.S. Representatives have sent a letter to the U.S. Small Business Administration (SBA) seeking clarification as to why the agency changed its requirements regarding real estate appraisers handling going concern appraisals for special use properties. In 2011, the SBA allowed appraisers to take on such projects after completing an eligibility course. As of January 2014, the agency changed its valuati ...

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