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The Due Diligence Imperative for the Valuation of Healthcare

Enterprises, Assets, and Services With the emergence of value-based reimbursement, such as accountable care organizations (ACOs), clinically integrated networks (CINs), and bundled payment models, which rely on achieving the “Triple Aim” of healthcare at lower cost, U.S. hospitals are increasingly looking to change how services are being delivered by seeking more collaborative relationships with physicians, ...

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Book Review—Lost Profits Damages

Principles, Methods, and Applications Everett P. Harry, III and Jeffrey H. Kinrich assembled 45 authors, chosen for their expertise in lost profits damages, and contributed and co-edited this comprehensive lost profits damages “how to” book. The authors pay tribute to Robert L. Dunn, among others, for his vision in identifying the need for this book. The book marks an attempt by the authors to provide a sin ...

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Changes Coming to Corporate Venture Capital Investment Reporting

Accounting Standards Update 2016-01 has generally flown under the radar since it was released almost two years ago.  However, this accounting update has the potential to significantly affect financial reporting.  Mercer Capital’s forthcoming whitepaper on ASU 2016-01 will provide an overview of the accounting standards changes as they pertain to companies with equity investments and a few best practice cons ...

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Regulators Want Firms to Ramp Up Fintech Accountability

Officials at the SEC and FINRA have been talking a lot lately about how they have been ramping up their use of sophisticated technologies to root out questionable conduct among the firms they regulate.  It turns out that they are expecting advisors and brokers to do the same. To read the full article in FinancialPlanning, click: Regulators Want Firms to Ramp Up Fintech Accountability. ...

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When Your Vendor is Hacked, Doing Nothing Won’t Cut it

Even firms that believe they are too small to matter should think again.  If a cyberattack happens at the firm's outsourced CRM partner, portfolio management vendor or custodian, and clients' personal information is compromised, where is your client going to turn first to demand an explanation? To read the full article in FinancialPlanning, click: When Your Vendor is Hacked, Doing Nothing Won't Cut it. ...

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How to Define and Conquer the Next 365 Days with Unimpeachable Neutrality

As the temperature drops and the holidays creep in, case after case either settles or, even better, is granted a three-month continuance. Now you finally have the time to take a long hard look at the lessons you have learned this year, lessons you have applied from years past, and start defining next year’s conquest(s), whatever they may be. This fourth article of the Unimpeachable Neutrality series discuss ...

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Barron’s Goes Unicorn Hunting

In Barron’s November 20 cover story, “The Trouble with Unicorns,” Alex Eule discusses some of the finer points of venture-stage valuation that are often overlooked in the press.  Travis Harms, Mercer Capital’s Financial Reporting Valuation Group Lead, explains that this article is prompted by the dual observations that (1) a large number of venture-backed companies are achieving unicorn status, and (2) desp ...

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To Woo Advisors, Betterment Takes to Hybrid Approach

Priding itself on being a technology company first, Betterment has learned it needs a deeper human touch to sustain its advisor platform.  RIAs are often impressed by the slick interface of Betterment for Advisors, its contemporary user experience and the way it helps speed onboarding and back office tasks.  But, the young firm can’t scale on technology alone. To read the full article in FinancialPlanning, ...

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Clients Build Defensive Cash Positions Even as Bullishness Rises

Clients are boosting their cash positions by taking gains off the table as they hedge against the possibility of a selloff, according to the latest Retirement Advisor Confidence Index—Financial Planning’s barometer of business conditions for wealth managers. To read the full article in FinancialPlanning, click: Clients Build Defensive Cash Positions Even as Bullishness Rises. ...

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Developing Your B2B Website

Key Strategies and Steps In the November 2, 2017 article, the author shared some thoughts on what to avoid when developing your website. In this article, the author focuses on the positive: strategies and steps to get you where you want to go. ...

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Case Law Update

Insights for Your Practice Four cases are presented in this article that provide valuation, litigation support professionals, and M&A advisors insight regarding how courts are addressing damages claims, challenges to experts, appraisal action challenges, and claims of fraud and breach of contract in connection with M&A transactions. Although the cases are from Delaware and California, they provide i ...

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Win Some, and Then Some: Equity Compensation Tax Reform

In this week’s blog post, we present a select reading list that has helped us keep up with recent legislative developments around equity and executive compensation. To read the full article in Mercer Capital's Financial Reporting Blog, click: Win Some, and Then Some: Equity Compensation Tax Reform. This article is republished from Mercer Capital's Financial Reporting Blog.  It is reprinted with permission.  ...

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Rules Would Allow Truncated Taxpayer IDs on Forms W-2

In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement, issued to employees. To read the full article in The Tax Adviser, click: Rules Would Allow Truncated Taxpayer IDs on Forms W-2. ...

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Stay Up on Medicare Enrollment with Annual Reviews

Why Annual Medicare Coverage Reviews Benefit Clients Annual reviews can ensure clients who are Medicare beneficiaries have the coverage they need.  During the Medicare Open Enrollment period, which starts Oct. 15, clients can select different prescription drug coverage, move to a Medicare Advantage plan, or make other changes to their coverage.  PFP/PFS Section members can access over 100 ready-to-go, clien ...

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Chapter 11 Bankruptcy

Unsecured Creditors: Risk and Cramdown Rates (Part II of II) This is the second of a two-part article, read Part I here. In October 2017, the Second Circuit Court of Appeals handed down its decision on cramdown interest rates in the matter In re: MPM Silicones, LLC. This decision has already stirred a great deal of discussion regarding cramdown interest rates to be paid secured creditors in Chapter 11 bankr ...

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RValuations is My Vision

What’s Yours? Valuation professionals are a conservative lot that resist change. The author of this article embarked in a change that has transformed him and his practice. Upon reflection, he shares the lesson he learned is that “feeling afraid is my next level of growth coming to get me”. In this article, he encourages readers to take a chance, change, and take control of their lives since life is too shor ...

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Early Purchase Price Allocation Estimates Help Avoid EPS Surprises

For public companies, it is increasingly necessary to disclose a preliminary allocation of purchase price in the 10-Q or 10-K immediately following the closing date.  Although M&A activity slowed in the first nine months of 2017 compared to 2016, valuation multiples have continued to rise and major stock market indices marched steadily higher.  Lucas Parris, senior member of Mercer Capital’s Financial R ...

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Reliance on Tax Software Does Not Let Taxpayer Off the Hook

A taxpayer cannot blame tax preparation software for inaccuracies that lead to penalties.  A recent Tax Court case provides a cautionary tale for taxpayers who rely on do-it-yourself tax preparation software to prepare their tax returns.  Craig Smalley provides some insight into this. To read the full article in The Tax Adviser, click: Reliance on Tax Software Does Not Let Taxpayer Off the Hook. ...

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Republicans Unveil Tax Reform Framework

Republican lawmakers released a framework for tax reform, announcing that their goals are to cut tax rates, simplify the Internal Revenue Code, and provide a more competitive environment for business.  The framework generally reiterates proposals made in April.  Alistair Nevius, JofA’s editor in chief, explains. To read the full article in the Journal of Accountancy, click: Republicans Unveil Tax Reform Fra ...

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