Just like flipping a switch to turn on a light, most of us do not think about what had to happen to make that light turn on. Artificial Intelligence (AI) has already become as effortless as a light switch. You type a prompt into ChatGPT or Copilot, and it returns an answer, yet you likely have no idea how it works or what went into making it function. Unlike understanding electricity or the internet, graspi ...

Healthcare Policy Edition During his two months in office, President Trump’s administration has called for significant changes at a fast and furious pace, with several healthcare agencies and programs across the U.S. Department of Health and Human Services (HHS) targeted. To keep up with the latest actions of the legislative and executive branches of the federal government, this article summarizes recent ev ...

Matter of Weber—Challenges to a Trustee’s Accounting Go Awry Serving as a Trustee of a Trust is difficult. In the case presented, a trust beneficiary alleged that the trustee—his aunt—breached her fiduciary duty. The trust beneficiary retained an expert in connection to this claim and this did not go well for either the beneficiary or damages expert. The article summarizes the case, provides a road map and ...

Is AI the Death of Professional Judgment or its Reincarnation Only with careful oversight and the application of seasoned professional judgment can AI deliver results that are not only accurate but also defensible and unimpeachably neutral. This article in the Unimpeachable Neutrality Series explores the indispensable role of professional judgment, particularly as it intertwines with the capabilities of AI. ...

Take Up an Informed Contrarian View to Disrupt the Business Valuation Profession What frustrates you about our industry? Do you think your prospects, clients, and referral sources might feel the same way? What if you took a stand? What if you stood out by promising something different than the standard operating procedures your competitors follow? What frustrates you about our industry? There must be someth ...

Guidance from AICPA’s 2024 Accounting and Valuation Guide—Business Combinations There are various methods used to value intangible assets. The relief from royalty method is based on the premise that there are royalty savings if the acquiror acquires the asset instead of licensing it. The value of the asset is calculated as the present value of after-tax royalty savings over the economic life of the asset. T ...

And the Trump Administration’s Freeze This article is the latest installment of QuickRead articles on ESOP regulations. Specifically, it focuses on the request, and status thereof, for the Department of Labor to clarify “adequate consideration” for the valuation of entities held in ESOPs. This article is the latest installment of QuickRead articles on ESOP regulations.[1] Specifically, it focuses on the req ...

What are a Self-Employed Person’s Earnings? What are Their Profits? This article will discuss some of the unique factors relating to assessing lost profits for self-employed operated businesses. As examples, two extremes will be discussed. These extremes provide virtual bookends when assessing a claim of lost profits by a self-employed person. The first addresses a self-employed person who reports his/her i ...

Addressing the Value and Professional Standards Issues in the Engagement Resolving a shareholder dispute often requires determining the value of a shareholder’s interest in the business. This article provides a framework for the business valuation expert to discuss this issue with attorneys and clients. Headings organize the questions and issues. Resolving a shareholder dispute often requires determining th ...

AI Insights Not to Be Ignored In 1997, I was invited to be a guest speaker at a local heavy equipment dealers association dinner at Tuscany in Salt Lake City. The dinner was amazing, but then it was my turn to speak about the changing landscape of this new thing called the “Internet.” I explained that e-commerce would disrupt everything. I told them the day would come when anyone would be able to buy heavy ...