Assess Change, Communication, Control, and Emotions before Implementing Changes Exploring change, communications, control issues, and emotions is often the best way to begin to understand what is causing conflict in the workplace, and what can be done to curb or control the situation. Once there is a basic understanding of these elements, it is much easier to develop a management strategy that constructively reduces stress in the workplace, which in turn will decrease absenteeism, improve productivity, and ultimately influence health care costs.
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The number of deals involving firms with over $100 million dropped 25% last year to 104 deals, from 130 in 2015, according to Fidelity’s 2016 Wealth Management M&A Transaction Report. Charles Paikert, senior editor for Financial Planning, looks at why the big RIA buyers are becoming more discerning. To read the full article in FinancialPlanning, click: How the Big Time M&A Game is Changing.
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Federal Class-Action Litigation in Securities Disputes Rises Class-action securities lawsuits filed in federal court last year numbered 270, the most in 20 years, according to a report from the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research. The 80 filings related to mergers and acquisitions were the biggest factor in the increase. Meaghan Kilroy explains. To read the full article in Pensions&Investments, click: Federal Securities Class-Action Suits Jump to 20-Year High in 2016.
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Distribution policy addresses both how much cash flow should be distributed to shareholders and the ideal form of such distributions. The purpose of this whitepaper is to help directors formulate and communicate a distribution policy that contributes to shareholder wealth and satisfaction. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Distribution Policy in 30 Minutes. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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Common Analyst Misconceptions The first article in this series provided an introduction to valuation analysts (analyst) regarding the need to integrate and use the Asset-based Approach to value going-concern businesses and securities. This second installment addresses common analyst misconceptions regarding the use of the Asset-based Approach to value both asset holding companies and operating companies.
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Strive to Differentiate Yourself and Become the Visible Expert In this article, Dr. Frederiksen discusses three sales and marketing strategies to drive growth in 2017.
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When owners of CPA firms begin to think about succession planning, the most important decision they need to make is when to bow out. Brannon Poe explores some factors to consider that can help you achieve the “Goldilocks zone” of timing. To read the full article in the Journal of Accountancy, click: Timing Your Exit.
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Affluent Americans aren’t Getting Inheritance Help, Survey Finds Even the richest Americans aren’t getting professional help and creating plans to pass wealth on to the next generation, according to a survey by RBC Wealth Management. Less than a third have a comprehensive plan, the survey found. To read the full article in InvestmentNews, click: Many Wealthy Americans haven’t Planned for the Transfer of their Assets.
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Incentive compensation works much like the proverbial carrot dangled in front of a horse. The lure of a future reward to employees encourages and propels momentum at the company level. But what happens when the carrot is dangled a little too closely? Megan Richards, financial analyst with Mercer Capital, explores this topic. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Cashing In by Checking Out. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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Personalize the Trailer to Engage the Reader An e-mail trailer provides an opportunity for the reader and firm to engage. Using mindless disclaimers at the end of an e-mail misses an opportunity to stand out and differentiate yourself and your firm. In this article, the author discusses the opportunity and provides some clever trailers used by established firms…that do work.
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Introduction Valuation analysts are retained to value closely held businesses, business ownership interest, and securities for a variety of transaction, financing, taxation, accounting, litigation, and planning purposes. For each engagement, analysts consider the three generally accepted business valuation approaches: the Income Approach, the Market Approach, and the Asset-based Approach. However, most analysts rarely apply the Asset-based Approach in the typical business valuation. This column is part of a series of discussions related to the application of the asset-based valuation approach.
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Audit teams and engagements suffer when members feel unsafe about raising questions or admitting mistakes. This blog defines what psychological safety means and the best practices to put audit team members at ease. To read the full article in the Journal of Accountancy, click: Why Audit Teams Need the Confidence to Speak Up.
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CBO: Partial Repeal of ACA Could Lead to 18M People Losing Insurance Some 18 million people could lose health insurance in the first year after a partial repeal of the Affordable Care Act, and the number could grow to 32 million by 2026, according to a Congressional Budget Office report. However, Sen. Orrin Hatch, R-Utah, said the analysis represented “a one-sided hypothetical scenario” that did not account for reforms lawmakers could implement. To read the full article in The New York Times, click: Health Law Repeal Could Cost 18 Million Their Insurance, Study Finds.
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The magnitude of the equity risk premium, or required return in excess of the risk-free rate, is a perennial question for valuation specialists. Travis Harms, Mercer Capital’s Financial Reporting Valuation Group lead, explains that the aggregate equity premium is typically broken into two pieces: 1) a market risk premium, and 2) a size premium. To read the full article in Mercer Capital’s Financial Reporting Blog, click: A Market Participant Perspective on the Size Premium. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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Engage and Assist Legal Counsel It is critical that the right person with the right expertise, training, and background be selected. This article will describe the various areas of specialization in which a forensic accountant performs, how counsel should select the right professional for the job, and the benefits of using a forensic accountant.
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A Critique of the Ibbotson Methodology In this paper, the author argues that the Size Premium in Excess of CAPM (and other similar size premium measures) should not be used by valuation practitioners because: a) it is inconsistent with the empirical evidence; b) it is constructed using a method that is inconsistent with how practitioners estimate their CAPM cost of equity; and c) it does not properly calculate the “premium” for use in a Discounted Cash Flow (DCF) analysis. Through an illustration, the author also demonstrates the challenges one faces when correcting for the latter two issues.
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A Donald Trump administration, combined with Republican control of both the Senate and the House of Representatives, makes legislation to reform the taxation of business income more likely. Hank Gutman, in this detailed report, explains that, despite the increased likelihood of legislative action, the specific content of reform legislation is more elusive than has been suggested by many, as is the path to enactment. To read the full article in the Journal of Accountancy, click: How the Election May Affect the Taxation of Business Income.
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Intense Competition for Skilled Candidates is Creating a Need for More Efficient Hiring Practices There may never be a better time for organizations to carefully scrutinize their hiring processes to make sure they are optimized for delivering the best hires. Ken Tysiac, CGMA Magazine, explains that the global job market is tilted towards candidates right now, and many candidates are not eager to wait long for a job offer. To read the full article in CGMA, click: Get an Edge in Recruiting.
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On December 27, 2016 Toshiba Corporation announced the possibility of a goodwill impairment charge related to its U.S. nuclear power plant construction business, which was acquired for $229 million in late 2015 by Toshiba’s Westinghouse Electric Company subsidiary. Karolina Calhoun, senior financial analyst with Mercer Capital, describes that both the buyer and target have been plagued by financial difficulties (and goodwill impairment charges) since that time. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Blowback from Going Nuclear: Massive Goodwill Impairment Looms at Toshiba. This article is republished from Mercer Capital’s Financial Reporting Blog. It is…
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Part II of II This is the second of a two-part article. In this second part, Edward Mendlowitz illustrates how stocks can be acquired and what factors to consider when developing or modifying a stock portfolio. Read Part I here.