Blockchain is forecast to transform many industries by providing fast, verifiable transfer and tracking. At its core, blockchain is a distributed ledger that records transactions between every user in the chain. Although it’s commonly regarded as a single technology, there are different types of blockchain: public and private. To read the full article in In The Black, click: What’s the Difference Between a Private and Public Blockchain?
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and Eat it Too! What is net working capital? The definition of net working capital is not fixed, and the meaning may vary by industry. It is also a key factor in a valuation and understanding there is a deficiency or excess will impact the value of the company and structure of an acquisition.
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Since enacting the Securities Exchange Act in 1934, Congress has repeatedly expanded the arsenal of the SEC to protect investors through enforcement actions. As a result, the SEC has steadily increased the number of enforcement actions. The author’s analysis of 1,563 accounting and auditing enforcement cases from 2008 to 2014 shows the most frequent securities law violations adjudicated by the SEC, the penalties rendered, and the person most often at the center of a case during this period. By studying and understanding the findings, accountants can learn where standard accounting practices failed or were subverted and how to best deter,…
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Insights from the Analysis of Mega Transactions By scrutinizing data from large transactions, valuation experts can glean important information and insights into current healthcare valuations. In this article, Collin McDermott and Bridget Triepke summarize SEC filings, review the implied valuation of large healthcare mergers—based on the purchase price—and provide a detailed review of the fairness opinions provided by investment banks to both Vanguard’s and Health Management Associates board of directors and shareholders. Specifically, the authors detail the results and key assumptions utilized by the investment banks for the GPCM, M&A Method, and Discounted Cash Flow Method.
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Reality TV offers more than entertainment Reality turnaround TV shows provide valuators lessons that go a long way toward improving their consulting and valuation skills, and client deliverable. Those lessons could result in more opportunities and greater credibility.