Key Personnel Dependence in Sell-Side Business Valuation This article examines one of the primary issues that CVAs encounter when advising clients who are preparing to sell. By identifying challenges early in the valuation process, CVAs can better educate sellers on weak points in their business and prepare them for potential poor reception that they may face from prospective buyers. Introduction Business o ...

Issues and Caveats (Part V of V) This final of a five-article series discusses the application of the unit valuation principle. This installment describes many of the application issues and caveats related to the use of the unit principle to value the unit of taxable property. Read Part I here. Read Part II here. Read Part III here. Read Part IV here. Introduction This is the fifth installment of a five-par ...

Valuation Procedures This fourth of a five-article series discusses the application of the unit valuation principle. This installment summarizes the generally accepted unit valuation procedures. But first, this discussion describes the generally accepted summation valuation approaches and methods as a comparison to the unit valuation approaches and methods. Read Part I here. Read Part II here. Read Part III ...

Understanding Wine Businesses This article is designed as a primer for valuation professionals, giving you the foundational knowledge of wine industry terms and business structures you need to navigate this highly specialized field. By building this knowledge, you will be better prepared to ask the right questions, interpret key details, and deliver valuations that truly reflect the complexities and risks b ...

Approaches and Methods This third of a five-article installment discusses the application of the unit valuation principle. The discussion continues with a summary of the generally accepted unit valuation approaches, methods, and procedures. Read Part I here. Read Part II here. Introduction This installment is part three of a five-article series related to the unit valuation principle for ad valorem property ...

Excel and Position Yourself as the Expert There is an important difference between a service provider and an expert. In this article, Rod Burkert discusses why the differentiation is important and how to position yourself to be an expert. When it comes to the work you do, are you a service provider or an expert? Have you thought about the differences? Do you realize there are differences? Our BVFLS industry ...

When to Apply This second of a five-article installment discusses the application of the unit valuation principle. Guidance is provided for when to apply the unit of valuation principle. Read Part I here. Introduction This discussion is the second installment of a five-part series related to unit principle valuations prepared for property tax compliance, administration, and controversy purposes. As was intr ...

Legal Cases and Statutory Factors Used to Assess the Reasonableness of Compensation U.S. courts have established multiple factors and guidelines to assess reasonableness in compensation. This article reviews the factors and statutory criteria used to assess the reasonableness of compensation. Determining reasonable compensation for shareholder employees in closely held companies remains a key concern for bu ...

(Part I of V) This is the first article of a five-installment discussion that will summarize the application of the unit valuation principle. As will be described, a unit principle valuation is not a business valuation. However, business valuation analysts are often more comfortable with the development of unit principle valuations than are real estate or personal property appraisers. Introduction This five ...

Core Finance Team Affiliates, LLC v. Maine Medical Center—The Distinction Between Quantum Meruit and Unjust Enrichment What is the difference between a claim of quantum meruit and unjust enrichment? This very issue was addressed in Core Finance Team Affiliates, LLC v. Maine Medical Center and is discussed in this article. The legal profession is famously hidebound; for goodness’ sake, they still where robes ...

Ethical AI Parameters for Valuation Professionals In the world of valuation, particularly at the intersection of professional judgement and AI, this 21st article of the Unimpeachable Neutrality Series begs the question now facing us: what kind of AI guardrails should exist? And how do we keep them from becoming runaway lanes, or worse, launchpads, into unintended consequences? There is something charming ab ...

Increased Misuse and Sophistication of AI to Commit Digital Fraud The level of sophistication used by fraudsters continues to increase. Fraudsters are using voice recognition and voice swapping, as well as other generative AI tools that continue to evolve. It is critical to constantly reassess internal controls and understand how AI is used and misused. In this article, the author shares some of the schemes ...

It’s About Them What is the purpose of marketing? While credentials are helpful, the profession needs to reevaluate the strategies used. In this article, Rod Burkert reminds us of what the profession may consider to market the services effectively. Have you wondered why it’s getting harder to reach the leads and prospects we want to sell to and serve? What if almost everything we’ve considered to be marketi ...

Healthcare Cost Drivers CMS found that overall healthcare spending growth has decreased slightly but is still elevated compared to pre-pandemic levels and is expected to continue to moderately grow. This article examines the factors underlying the forecasts. On June 25, 2025, the Centers for Medicare and Medicaid Services (CMS) released its forecast on U.S. healthcare spending through 2033. The analysis, pu ...

Navigating Climate Risks, Financial Forensics, and Innovative Solutions Forensic accounting plays a crucial role in modernizing climate risk insurance models. As climate change intensifies extreme weather events, insurers are struggling to accurately price risk, detect fraudulent claims, and maintain financial stability. This article explores how fraud, forensic accounting, and innovative risk management pr ...

Budget Cuts, Payment Freezes, and Tariffs In an attempt to continue tracking the latest actions of the federal government’s legislative and executive branches affecting the healthcare industry since the last article was released in March, this article summarizes recent events in Washington and the impact of these changes on providers and patients. During the early months of the Republican Party’s government ...

Dissecting the Impact on Valuation Drivers What impact, if any, will the imposition of tariffs have on the valuation of assets? How will the imposition of tariffs impact modeling? In this article, the author shares his thoughts on the various factors and industries that valuation professionals must weigh to prepare a valuation. Economic Uncertainty in Valuation Economic uncertainty arises when key macroecon ...

Whether to Establish an ESOP Not all companies are fit for an ESOP. The decision to create an ESOP is a significant one, and it requires careful evaluation beyond enthusiasm or the appeal of tax deferral. Two critical considerations stand out when evaluating whether to move forward: (1) independence of the valuation expert, and (2) whether the company is operationally, financially, and structurally suited f ...

For Preventing Fraud and Driving Business Growth The importance of strong internal controls cannot be overstated. They form the foundation for financial integrity, operational efficiency, regulatory compliance, and, ultimately, long-term business success. This article explores how strong internal controls not only safeguard against fraud but also serve as a catalyst for business growth and sustainability. I ...

From a Forensic Expert’s Perspective The authors share personal stories regarding the challenges they have faced in cases that involve people with diagnosed and undiagnosed narcissists disorders. Men and women with this disorder are especially challenging and the authors share what they have learned to mitigate the damage a person with this disorder may have in a case. My (Michele’s) path into the world of ...