Valuation Of Privately Held Company Equity Securities Issued As Compensation

Author : AICPA
Publisher : John Wiley & Sons
Page : 256 pages
File Size : 55,6 Mb
Release : 2016-10-31
Category : Business & Economics
ISBN : 9781937352226

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Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation by AICPA Pdf

This new Guide has been developed by AICPA staff and the Equity Securities Task Force and is the first in a series of 3 NEW AICPA Accounting Valuation Guides to be released. This long anticipated release reflects best practices developed over the previous decade. Since the issuance of FASB ASC 718 and 505-50 in 2004, valuing stock-based compensation ("cheap stock") has been a significant challenge for private companies. This New Guide has been designed to mitigate those challenges. It brings you practical guidance and illustrations related to accounting, disclosures and valuation of privately held company equity securities issued as compensation. This guide includes: Evaluating private and secondary market transactions — What should companies do when transaction activity doesn't match their estimates of value? Adjustments for control and marketability — How should companies think about the value of the enterprise for the purpose of valuing minority securities? When is it appropriate to apply a discount for lack of marketability, and how should the estimated discount be supported? Highly leveraged entities — How should companies incorporate the fair value of debt in the valuation of equity securities? What is the impact of leverage on the expected volatility of various securities? The relevance of ASC 820 (SFAS 157) to cheap stock issues Updated guidance and illustrations regarding the valuation of, and disclosures related to, privately held company equity securities issued as compensation This Guide also provides expanded and more robust valuation material to reflect advances in the theory and practice of valuation since 2004. This edition includes guidance from FASB ASC 718, 505-50, 820-10 and SSVS 1 which were all issued since the last AICPA guidance dedicated to this issue.

Author : Anonim
Publisher : Unknown
Page : 211 pages
File Size : 51,7 Mb
Release : 2004
Category : Close corporations
ISBN : LCCN:2005272165

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Valuation of Privately-held-company Equity Securities Issued as Compensation by Anonim Pdf

Author : AICPA
Publisher : Wiley
Page : 256 pages
File Size : 46,6 Mb
Release : 2016-10-31
Category : Business & Economics
ISBN : 1937352226

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Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation by AICPA Pdf

This new Guide has been developed by AICPA staff and the Equity Securities Task Force and is the first in a series of 3 NEW AICPA Accounting Valuation Guides to be released. This long anticipated release reflects best practices developed over the previous decade. Since the issuance of FASB ASC 718 and 505-50 in 2004, valuing stock-based compensation ("cheap stock") has been a significant challenge for private companies. This New Guide has been designed to mitigate those challenges. It brings you practical guidance and illustrations related to accounting, disclosures and valuation of privately held company equity securities issued as compensation. This guide includes: Evaluating private and secondary market transactions — What should companies do when transaction activity doesn't match their estimates of value? Adjustments for control and marketability — How should companies think about the value of the enterprise for the purpose of valuing minority securities? When is it appropriate to apply a discount for lack of marketability, and how should the estimated discount be supported? Highly leveraged entities — How should companies incorporate the fair value of debt in the valuation of equity securities? What is the impact of leverage on the expected volatility of various securities? The relevance of ASC 820 (SFAS 157) to cheap stock issues Updated guidance and illustrations regarding the valuation of, and disclosures related to, privately held company equity securities issued as compensation This Guide also provides expanded and more robust valuation material to reflect advances in the theory and practice of valuation since 2004. This edition includes guidance from FASB ASC 718, 505-50, 820-10 and SSVS 1 which were all issued since the last AICPA guidance dedicated to this issue.

Author : AICPA
Publisher : John Wiley & Sons
Page : 619 pages
File Size : 47,8 Mb
Release : 2019-09-16
Category : Business & Economics
ISBN : 9781948306638

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Accounting and Valuation Guide by AICPA Pdf

Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies). It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as: Unit of account Transaction costs Calibration The impact of control and marketability Backtesting

Author : Chris M. Mellen,Frank C. Evans
Publisher : John Wiley & Sons
Page : 501 pages
File Size : 46,6 Mb
Release : 2018-05-11
Category : Business & Economics
ISBN : 9781119433835

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Valuation for M&A by Chris M. Mellen,Frank C. Evans Pdf

Determine a company's value, what drives it, and how to enhance value during a M&A Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment. As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a “floor” value for the seller since it by definition represents a value agreed upon by any hypothetical willing and able buyer and seller. But for M&A, it is more important to compute investment value, which is the value of the target company to a strategic buyer (and which can vary with each prospective buyer). Prepare for the sale and acquisition of a firm Identify, quantify, and qualify the synergies that increase value to strategic buyers Get access to new chapters on fairness opinions and professional service firms Find a discussion of Roger Grabowski's writings on cost of capital, cross-border M&A, private cost of capital, intangible capital, and asset vs. stock transactions Inside, all the necessary tools you need to build and measure private company value is just a page away!

Author : BDO USA
Publisher : John Wiley & Sons
Page : 208 pages
File Size : 41,8 Mb
Release : 2020-09-01
Category : Business & Economics
ISBN : 9781119756484

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Public Company Update by BDO USA Pdf

Developed for corporate financial reporting managers and independent auditors, this book will help them stay abreast of changes and modifications to the requirements for public companies, their management, and auditors. Included are: The latest pronouncements, regulations, and guidance issued by the SEC and PCAOB as they apply to the filings and audits of this reporting cycle. What these organizations are planning and/or saying about the future. Key developments which may affect your company or auditing firm. In addition, emerging issues, trends, and new resources are provided so that accountants and financial managers can stay out front.

Author : Gary R. Trugman
Publisher : John Wiley & Sons
Page : 1253 pages
File Size : 48,5 Mb
Release : 2018-01-08
Category : Business & Economics
ISBN : 9781119483649

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Understanding Business Valuation by Gary R. Trugman Pdf

This fifth edition simplifies a technical and complex area of practice with real-world experience and examples. Expert author Gary Trugman's informal, easy-to-read style, covers all the bases in the various valuation approaches, methods, and techniques. Author note boxes throughout the publication draw on Trugman's veteran, practical experience to identify critical points in the content. Suitable for all experience levels, you will find valuable information that will improve and fine-tune your everyday activities.

Author : AICPA
Publisher : John Wiley & Sons
Page : 692 pages
File Size : 55,8 Mb
Release : 2019-09-16
Category : Business & Economics
ISBN : 9781119663348

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Accounting and Valuation Guide by AICPA Pdf

Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies). It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as: Unit of account Transaction costs Calibration The impact of control and marketability Backtesting

Author : James R. Hitchner
Publisher : John Wiley & Sons
Page : 1301 pages
File Size : 47,7 Mb
Release : 2017-04-19
Category : Business & Economics
ISBN : 9781119312314

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Financial Valuation by James R. Hitchner Pdf

A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.

Author : James R. Hitchner
Publisher : John Wiley & Sons
Page : 1301 pages
File Size : 52,7 Mb
Release : 2017-05-01
Category : Business & Economics
ISBN : 9781119286608

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Financial Valuation, + Website by James R. Hitchner Pdf

A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.

Author : Mark L. Zyla
Publisher : John Wiley & Sons
Page : 512 pages
File Size : 41,8 Mb
Release : 2020-01-02
Category : Business & Economics
ISBN : 9781119191230

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Fair Value Measurement by Mark L. Zyla Pdf

Get up to date on the latest FASB, SEC, and AICPA guidelines and best practices Fair Value Measurement provides hands-on guidance and the latest best practices for measuring fair value in financial reporting. The Financial Accounting Standards Board (FASB), the U.S. Securities and Exchange Commission (SEC), and the American Institute of CPAs (AICPA) have all updated their guidelines for practitioners, and this book details the changes from a practical perspective. This new third edition includes a discussion on Private Company Council accounting alternatives for business combinations and impairment testing, with a detailed example of the Market Participant Acquisition Premium (MPAP), including European and Asian examples and expanded discussion of IFRS. Fair value measurement guidelines continue to evolve, and this comprehensive reference provides a valuable, up-to-date resource for preparers, auditors, and valuation specialists. Adopt the best practices for implementing the FASB's Topic 820 Learn the latest reporting requirements for fair value measurements Understand accounting alternatives for business combinations Examine the details of MPAP in Europe and Asia Applying fair value measurements to financial statements requires a move away from rules-based standards and toward application of professional judgment. This controversial shift has led to a reliance on valuation specialists, who face their own challenges in applying Topic 820 amidst an economic downturn and recovery, leading to an ever evolving set of best practices. Practitioners must stay up to date, and be aware of the changes as they occur. Fair Value Measurement provides the most recent information and a practical approach to this area of financial reporting.

Author : Jan R. Williams,Joseph V Carcello, Ph.D., CPA,Joseph V. Carcello,Terry L. Neal
Publisher : CCH
Page : 1348 pages
File Size : 41,7 Mb
Release : 2008
Category : Accounting
ISBN : 0808092189

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GAAP Guide Level A 2009 by Jan R. Williams,Joseph V Carcello, Ph.D., CPA,Joseph V. Carcello,Terry L. Neal Pdf

Providing an analysis of authoritative GAAP literature contained in Level A of the GAAP hierarchy, this resource discusses each pronouncement in a comprehensive format that makes it easy to understand and apply.

Author : Neil J. Beaton
Publisher : John Wiley & Sons
Page : 229 pages
File Size : 40,7 Mb
Release : 2010-03-29
Category : Business & Economics
ISBN : 9780470436295

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Valuing Early Stage and Venture-Backed Companies by Neil J. Beaton Pdf

Valuing Early Stage and Venture-Backed Companies Unique in the overall sphere of business valuation, the valuing of early stage and venture-backed companies lacks the traditional metrics of cash flow, earnings, or even revenue at times. But without these metrics, traditional discounted cash flow models and comparison to public markets or private transactions take on less relevance, calling for a more "experiential" valuation approach. In a straightforward, no-nonsense manner, the mystique surrounding the valuation of early stage and venture-backed companies is now unveiled. With an emphasis on applications and models, Valuing Early Stage and Venture-Backed Companies shows the most effective way for your company to prepare and present its valuations. Featuring contributed chapters by a panel of top valuation experts, this book dispels improper valuation techniques promulgated by unknowing business appraisers and answers your key questions about valuation theory and which tools you need to successfully apply in your specific situation. Here, you'll find out more about various valuation techniques, including: "Back solving" valuation Modified cost approach Option pricing model Probability-weighted expected returns model Asian puts New data on discounts for lack of marketability Detailed and hands-on, Valuing Early Stage and Venture-Backed Companies equips you with broad foundational data on the venture capital industry, as well as in-depth analyses of distinct early stage company valuation approaches. Performing valuations for your early stage company requires an understanding of the special circumstances faced by your organization. With ample examples of generally accepted allocation models with complex capital structures common to early stage companies, Valuing Early Stage and Venture-Backed Companies mixes real-life experience with deep technical expertise to equip you with the complete, user-friendly resource you'll turn to often in valuing your early stage or venture-backed company.

Author : Lorenzo Carver
Publisher : John Wiley & Sons
Page : 293 pages
File Size : 49,5 Mb
Release : 2011-11-15
Category : Business & Economics
ISBN : 9781118182338

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Venture Capital Valuation by Lorenzo Carver Pdf

Very few of the decision makers involved in a venture backed company have a definitive understanding of how valuation techniques are being applied to their financial statements and their decision making process. This casebook provides a quick and accurate road map on how valuation techniques used for tax, financial reporting and deal structure impact a company's past, present and future. The book includes real world case studies to simplify this complex subject for the practitioners serving companies, the founders and executives running the companies, and the investors that fund the companies.

Author : Jerald E. Pinto,Elaine Henry,Thomas R. Robinson,John D. Stowe
Publisher : John Wiley & Sons
Page : 526 pages
File Size : 51,8 Mb
Release : 2010-01-12
Category : Business & Economics
ISBN : 9780470579657

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Equity Asset Valuation by Jerald E. Pinto,Elaine Henry,Thomas R. Robinson,John D. Stowe Pdf

A comprehensive look at the equity valuation process With the Second Edition of Equity Asset Valuation, the distinguished team of Jerald Pinto, Elaine Henry, Thomas Robinson, and John Stowe, fully update information associated with this important discipline. Blending theory with practice, they detail the contemporary techniques used to determine the intrinsic value of an equity security, and show you how to successfully apply these techniques in both foreign and domestic markets. Unlike alternative works in this field, the Second Edition of Equity Asset Valuation clearly integrates finance and accounting concepts into the discussion-providing the evenness of subject matter treatment, consistency of notation, and continuity of topic coverage that is so critical to the learning process. Addresses essential issues in this arena, including the equity valuation process, discounted dividend valuation, free cash flow valuation, and residual income valuation Each author brings his own unique experiences and perspectives to the equity analysis process Distills the knowledge, skills, and abilities you need to succeed in today's fast-paced financial environment Companion Workbook also available Valuable for classroom study, self-study, and general reference, this book contains clear, example-driven coverage of many of today's most important valuation issues.