After Actions Reviews A firm’s intellectual capital is the most important source of its long-term wealth creating capacity. It must be constantly replenished and created to build the firm’s invisible balance sheet. Constantly focusing on doing rather than learning, creativity, innovation, and knowledge sharing is the equivalent of eating the firm’s seed corn. In this article, Ron Baker discusses the value of AAR and how it has been used to create capacity, protect the firm’s intellectual capital, and transform company culture.
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The Internal Revenue Service issued its annual revenue procedure containing inflation-adjusted amounts for the 2017 tax year, affecting more than 50 Code provisions, as well as the new tax-rate tables for individuals and estates and trusts. Sally Schreiber, JofA senior editor, takes us through the revenue procedure. To read the full article in the Journal of Accountancy, click: IRS Issues 2017 Inflation Adjustments for Many Tax Provisions.
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As cybercriminals become more sophisticated and cast a wider net, tax practitioners should take a number of steps to protect themselves and their clients. Shannon Smith Retzke, Esq., explains that practitioners need to be careful about everything they do online as cybercriminals proliferate. To read the full article in The Tax Adviser, click: Phishing Scams Target Tax Professionals.
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2016’s 10 most popular posts from Mercer Capital’s Financial Reporting Blog. 2016 proved to be an interesting year, both in terms of developments in financial reporting and the range of topics covered on this blog. We’ve enjoyed sharing our thoughts in this forum over the last three years and look forward to new challenges and opportunities in 2017. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Financial Reporting Blog: Best of 2016. 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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Deal Structuring and Workforce in Place Considerations Under IRC and Stark Law What complications arise when two separate transactions are used to structure an asset sale of a physician practice? The key to compliance is to hit a reasonable middle ground under somewhat competing frameworks, and carefully drafting, documenting, and reporting accordingly. Valuators play a key role not only in establishing and documenting the fair market value of the purchase price, but also the corresponding allocation of corporate versus personal goodwill, including how it relates to the intangible value of workforce in place (WIP).
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Marketing in the New Year In this article, Dr. Frederiksen discusses the importance of thought leadership marketing and how that differs from content marketing.
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Startup Gives Employees a Way to Trade in Unused Time Off Many employees do not use all of their vacation time, which can create liabilities for the companies they work for. A startup called PTO Exchange is trying to address that problem by allowing employees to exchange unused time off for perks, such as 401(k) contributions or help with college tuition. Jena McGregor introduces us to this fresh concept. To read the full article in The Washington Post, click: You May Soon be Able to Exchange Your Extra Vacation Days for Other Perks.
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Try This Instead of Traditional Performance Management A technique known as performance motivation may replace traditional performance management among companies interested in inspiring maximum effort and loyalty among employees. Instead of focusing on scoring employees and offering standardized feedback, companies can focus on creating intrinsic motivation to inspire their workers. Christine Comaford explains. To read the full article in Forbes, click: Why Performance Management is Dead and Performance Motivation is Here to Stay.
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Boosted by solid consumer spending and improving international trade, the expansion of the U.S. economy rose to 2.9% in the third quarter, the Commerce Department said. Nelson Schwarts reports that economists said the biggest quarterly gain in two years will probably be enough to persuade the Federal Reserve to raise interest rates in December. Charles Paikert discusses several avenues to take advantage of tax deductions. To read the full article in Financial Planning, click: Gimme Shelter: Help Clients Leverage Real Estate’s Investment Clout and Tax Advantages.
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Brewery Value QuickRead’s Technical Editor, Roberto Castro, reviews BVRs What It’s Worth: Brewery Value. This is a market niche that is highly regulated, segmented, and one where new business models are cropping up.
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The New Revenue Recognition Standard and Accounting for Licenses Wiley author, Joanne Flood, looks at how the new revenue standard affects reporting of licensing revenue. Copyright Wiley, 2016. To be published in February 2017 in the book: Wiley Revenue Recognition plus Website: Understanding and Implementing the New Standard (Wiley Regulatory Reporting).
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With 10-year yields up 22 basis points in October, economists anticipate an end to the Treasury bond sell-off. “Now it’s a good time to buy,” said Hideo Shimomura, Mitsubishi UFJ Kokusai Asset Management’s chief fund investor. Anooja Debnath and Wes Goodman explain. To read the full article in Bloomberg, click: Treasury Selloff is About to End if Consensus Forecast is Right.
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Restaurateur Scott Richards is opening an eatery with a clear understanding that his employees will work there for no more than three years. His goal is to use a special development program to help employees connect with mentors and achieve career objectives. Katie Toussaint explains this innovative concept. To read the full article in CharlotteFive, click: Why a Restaurant CEO Wants His Employees to Leave After Three Years.
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Boosted by solid consumer spending and improving international trade, the expansion of the U.S. economy rose to 2.9% in the third quarter, the Commerce Department said. Nelson Schwarts reports that economists said the biggest quarterly gain in two years will probably be enough to persuade the Federal Reserve to raise interest rates in December. To read the full article in The New York Times, click: U.S. Economy Grew 2.9% in 3rd Quarter, Picking Up the Pace.
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Professional Obligations for the Expert Witness Computing Damages What can a court reasonably expect of value experts? What are value experts able to contribute to the proceedings? What about mitigation of damages, i.e., how should value experts address mitigation and do so when the retaining counsel is disinterested in discussing mitigation of damages? In this article, Dr. Kreuter, a Marks Paneth, LLP partner answers the above questions.
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A Case Study (Part II of II) This is the second of a two-part article. In the first part, Dr. Needham provided factual background regarding this commercial damages case where he served as plaintiff’s damages expert—the case ultimately went to trial. In this second part, Dr. Needham describes the financial data, discovery challenges, the Daubert motion to disqualify him, how the case was decided, and then settled. QuickRead thanks Dr. Needham for sharing this case.
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Companies might be able to deliver a bigger boost to their earnings per share by making pension contributions rather than using borrowed money to fund buybacks, according to a report by Goldman Sachs Asset Management. Low interest rates may encourage companies to make stock buybacks, but these rates also tend to increase pension obligations. To read the full article in The Wall Street Journal, click: Pension Contributions Could be Bigger Boost to EPS than Buybacks: GSAM.
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More widespread use of videoconferencing could ease burdens on taxpayers who must meet in person with Internal Revenue Service Appeals personnel, but stringent privacy rules limit its use. Joseph Brophy, CPA, ABV, explores what it would take to expand this service. To read the full article in The Tax Adviser, click: Will Your Next Tax Appeal be a Videoconference?
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Switching costs for capital investment are high and do-overs are expensive. Travis Harms, Mercer Capital’s Financial Reporting Valuation Group lead, shares this whitepaper in order to assist directors and shareholders in evaluating proposed capital projects and contributing to capital budgeting decisions that enhance value. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Capital Budgeting 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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About the Use of Monte Carlo Simulation QuickRead’s Technical Editor, Roberto Castro, explains that Monte Carlo is another tool valuation and litigation support professionals should embrace since courts have signaled its approval.