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Reducing Bias in Business Valuation Engagements

Navigating Bias in Business Valuations Valuation analysts are tasked with gathering information, analyzing data, summarizing findings, and communicating the results. This includes quantifying the expected cash flows and risks of the business through often conflicting and misrepresented information. This article provides an overview of bias, how it affects business valuations, and provides readers with the s ...

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Nailing Down the Numerator in the DCF Method

Theory to Practice VPS StraightTalk Webinar, June 15, 2023 This article summarizes key takeaways from the June 15, 2023, VPS StraightTalk Webinar presentation co-led by R. James Alerding, CPA, ABV and Carli D. Lehr, CPA, CVA, CSEP. The speakers discussed how to differentiate between a projection and forecast, the importance of developing a reliable cash flow or projection evaluation of specific risk to the ...

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The Well-Written Business Valuation Report

Structured, Clear, and Well-Researched and Reasoned In a litigation setting, a well-written business valuation report can position your conclusion of value as credible. When completed for tax purposes, a well-written business valuation report can help avoid an IRS challenge. In any circumstances, a well-written business valuation report can provide the business owner with ways to increase cash flow and redu ...

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Nailing Down the Numerator in the DCF Method

Theory to Practice VPS StraightTalk Webinar, June 15, 2023 This article summarizes key takeaways from the June 15, 2023, VPS StraightTalk Webinar presentation co-led by R. James Alerding, CPA, ABV and Carli D. Lehr, CPA, CVA, CSEP. The speakers discussed how to differentiate between a projection and forecast, the importance of developing a reliable cash flow or projection evaluation of specific risk to the ...

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Unimpeachable Scope

A Synopsis of Valuation Brief 1 “Understanding the Differences: Conclusion of Value vs. Value Calculations” Valuation Brief 1, “Understanding the Differences: Conclusion of Value vs. Value Calculations” attempts to unpack the differences between that which is a conclusion of value and that which is not. In this 14th article of the unimpeachable neutrality series, the author provides a synopsis of the key ta ...

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Alternative Ways of Pricing Valuations

And Valuation Consultations Business valuation reports are somewhat of a competitive product. We may not feel that way because of all the effort we put into them, but many clients do not understand the value to them and look at the valuation as a “mechanical” process. Additionally, there are many other valuation preparers that provide valuations at fees substantially below what a valuation professional migh ...

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Shannon Pratt’s Valuing a Business

Preserving a Legacy In this article, Roger J. Grabowski, FASA, shares with readers a personal story regarding his friendship. The forthcoming 6th edition is a tribute to Dr. Pratt, a close friend and leader of the profession. [su_pullquote align="right"]Tribute to Shannon Pratt[/su_pullquote] Introduction I am fortunate to have co-authored several books with Shannon. While I had gotten to know Shannon throu ...

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Business Valuations

for SBA Lending Programs Despite the pandemic, the number of small businesses started continues to increase. This article discusses the various Small Business Administration (SBA) programs and the value of serving these lenders. “Success is a full-time job.” Grant Cardone Any entrepreneur or a small business owner would agree that running a successful small business is a full-time job. To run it well requir ...

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FAQ Interpretations

Non-Litigation #2 and Litigation #4 The NACVA’s Standards Board was formed to continually review the organizations’ standards and to ensure that the NACVA’s Professional Standards remain up to date, relevant, and relatively consistent with the standards of the other professional organizations. This article addresses the second Non-Litigation and the fourth Litigation FAQ Interpretations published by the NAC ...

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Impact of COVID-19 to Global Business Valuation and Appraisal

On April 8, 2020, the American Society of Appraisers (ASA), CBV Institute, Global Association of Certified Valuators and Analysts (GACVA), National Association of Certified Valuators and Analysts (NACVA), and The Royal Institution of Chartered Surveyors (RICS) collaborated to host a free virtual town hall to discuss how the COVID-19 pandemic will impact business valuation analysts and appraisal titled “Impa ...

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Comments: A Follow-up Response to Michael McKean on ESOP Valuations

Robert Reilly Shares His Thoughts on Impressions Should a valuation analyst accept an ESOP valuation engagement? That is the question raised by Michael McKean in his article written in response to the recent QuickRead article series by Robert Reilly. In this article, Mr. Reilly shares his thoughts on the subject matter. I am old enough to remember the early television show, The Original Amateur Hour. I star ...

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Do You Carry a Portfolio

Of Your Work? What can a BVFLS professional do to stand out amongst his or her peers? In this article, Rod Burkert shares his thoughts. How do BVFLS professionals like us to demonstrate our analytical skill? How do we exhibit our problem-solving acumen? How do we showcase our report writing talent? I have an idea…turns out it is somewhat controversial…but read on and let me know what you think. All creative ...

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The Unimpeachable Standard—One Voice Cannot Harmonize with Itself

Business Valuation Comparison Charts A quartet of present and former Standards Board chairs for the National Association of Certified Valuators and Analysts (NACVA) were on hand to harmonize about valuation standards during the 2018 NACVA and the CTI’s Annual Consultants' Conference at Caesars Palace in Las Vegas, Nevada. During NACVA’s Industry Standards and Ethics Update, and the Around the Valuation Worl ...

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Business Valuation and Reporting in Matrimonial Disputes

Adherence to Development and Reporting Standards in Family Law Litigation Family law practitioners deal with a host of complexities when resolving matrimonial disputes.  In high net worth cases, financial considerations soon become paramount.  Often the largest financial asset on the marital balance sheet is an interest in a closely held business controlled and operated by the family or single spouse.  In t ...

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Book Review—A Consensus View Q&A Guide to Financial Valuation

Hitchner, Pratt, and Fishman Answer the Call In the past month, business valuation professionals have read reviews from a number of practitioners serving as reviewers for the Q&A Guide. All of them are positive. In this book review, we go into a little more detail and discuss what these established and accomplished business valuation professionals and leaders answer in the Q&A Guide. So, what does t ...

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Calculations and Opinions: Bringing Clarity to a Cloudy Issue

Opinions are like viewpoints; everyone has one Opinions are often provided in connection with calculation values and a conclusion of value. SSVS No. 1 does not prohibit or explicitly endorse either. In this article, Jim Hitchner shares his views on whether the term “opinion”―offered in a litigation or non-litigation engagement—should be used as part of the engagement or offered in connection with a calculat ...

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Standards Though the Eyes of a Practitioner

Reconciling compliance with multi-agency valuation standards While standards exist to uphold the integrity of business valuation, multi-credentialed professionals can face a daunting task when trying to compare and comply with all guidelines across the spectrum of issuing agencies. This article seeks to root out possible conflicts and create clarity among standards so valuators may perform with less effort ...

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The Third Leg of Expert Witness Preparation

Good communication skills are essential for the expert Witness Expert witnesses and litigation support professionals generally do not consider the importance of communication skill training and practice as part of their preparation process. Communication is the third leg of expert witness preparation and separates the average witness from the great witness. ...

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