Part II of III This article is the second of a three-part series on intangible property and property tax appraisals. Valuation analysts are often retained by industrial and commercial companies to assist with state and local property tax planning, compliance, and controversy matters. Often, analysts are retained by the legal counsel for the corporate taxpayers. This is particularly the case when the property tax matter involves an assessment appeal or litigation regarding the amount of the property assessment. The articles in this series focus on the valuation of intangible property within the context of ad valorem property tax disputes. Introduction…
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Part IV of IV This article is the fourth (Read Part I, Part II, and Part III) and final part of a series related to the development of—and the reporting of—a bankruptcy-related appraisal of debtor company industrial or commercial property. This part considers (1) the valuation synthesis and conclusion process and (2) the reporting of the bankruptcy-related property appraisal. Introduction Property appraisals are a common element of most commercial bankruptcy proceedings. For purposes of this discussion, the term property includes real estate and real property, tangible personal property, and intangible personal property. This discussion is intended for valuation specialists (herein…
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Part III of IV This four-part article summarizes what valuation specialists in all property appraisal disciplines (herein called “appraisers”), company managements, and their legal counsel need to know about property appraisals prepared within a bankruptcy environment. For purposes of this discussion, the term property includes real estate and real property, tangible personal property, and intangible personal property. Part one of this article discussed the reasons to conduct the bankruptcy-related property appraisal. Part two of this article discussed (1) the elements of the property appraisal assignment and (2) the appraiser’s due diligence considerations. This third part summarizes the generally accepted bankruptcy-related…
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Part I of IV This is the first article of a four-part series. This initial article summarizes the generally accepted property appraisal approaches and methods that appraisers typically consider in a bankruptcy-related assignment. This discussion also describes the property appraisal synthesis and conclusion process. Due to the litigious nature of a bankruptcy proceeding, bankruptcy-related property appraisals are often subject to a rigorous contrarian review. Therefore, this discussion summarizes what the parties-in-interest (and their legal counsel) and the appraiser should know about an effective (i.e., persuasive) bankruptcy-related property appraisal report. Introduction After adjusting to the initial pandemic-related disequilibrium, many industry segments…
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Bargain Purchase Transactions This article summarizes the fair value measurement guidance and financial accounting considerations in business combinations—and specifically, in bargain purchase transactions. This discussion also describes the principles of acquisition accounting as they relate to fair value measurement. And, this discussion describes many of the valuation analyst considerations regarding the fair value measurement for a bargain purchase transaction.