Valuing Pass Through Entities

Author : Eric J. Barr
Publisher : John Wiley & Sons
Page : 272 pages
File Size : 41,8 Mb
Release : 2014-10-20
Category : Business & Economics
ISBN : 9781118848661

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Valuing Pass-Through Entities by Eric J. Barr Pdf

The clarity and guidance valuation analysts have been thirsting for The business appraisal community regularly names the valuation of pass-through entities as a major issue of concern. Courts, appraisers, and the IRS have long been at odds on the topic, and the contention within the appraisal community itself over methods and inputs further complicates the issue. Valuing Pass-Through Entities provides clarity for the analyst tasked with valuation, offering clear explanations of the different perspectives and approaches to the process. Valuing Pass-Through Entities cuts through the chatter to: Explain the advantages and limitations of different types of pass-through entities Analyze the different viewpoints currently dividing the appraisal community Gain a fresh perspective on landmark cases Explain how to properly utilize a court-tested model Examine detailed sensitivity analyses of different inputs under the income and market approaches The book includes illustrative examples, templates, and a useful technical supplement, plus case studies that demonstrate the real-world effects of various pass-through entity valuation methods and inputs. Detailed analyses and an easy-to-apply model simplify the process while positively affecting outcomes. The companion website provides the text of landmark court decisions, a blog featuring industry trends and tidbits, additional articles, and the insight of the author and other industry leaders. Valuation requires the successful juggling of multiple variables, many of which can have a major impact on value. Analysts need to know how to balance each factor and apply the appropriate rates and discounts, but a lack of standard practice often leaves the issue too subjective. Valuing Pass-Through Entities clears the air, providing real-world guidelines and tools.

Author : James R. Hitchner
Publisher : John Wiley & Sons
Page : 1370 pages
File Size : 47,9 Mb
Release : 2006-09-30
Category : Business & Economics
ISBN : 9780470046210

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Financial Valuation by James R. Hitchner Pdf

Praise for Financial Valuation "This Second Edition addresses virtually all of the recent hot topics in business valuation, and there are many of them since the first edition. Most chapters are updated with new material, including, especially, the Duff & Phelps Risk Premium Report as an alternative to Ibbotson's risk premium data. As with the first edition, the authors are very well-known and provide incisive analysis." --Shannon Pratt, CFA, FASA, MCBA, CM&AA, CEO, Shannon Pratt Valuations, LLC "Though the first edition of Mr. Hitchner's book was excellent in all regards, this Second Edition squarely puts Hitchner and his team of authors at the top of the list of authorities in the field of business valuation. Few publications on the subject even come close to the book's thorough coverage of the topic, but equally impressive is the clarity with which Hitchner depicts and explains highly complex subject matters. So impressed with Financial Valuation Applications and Models, the National Association of Certified Valuation Analysts has developed a three-day course based upon this book entitled, 'Advanced Valuation and Case Study Workshop,' which is now a cornerstone training program for our organization." --Parnell Black, MBA, CPA, CVA, Chief Executive Officer, NACVA "This book is a valuable resource for every BV library. It has material not covered in other BV books and this Second Edition has much more information than the first. Financial Valuation Applications and Models is the primary textbook for AICPA's business valuation education and it covers most of the topics on the test for the AICPA's Accredited in Business Valuation (ABV) credential. Its thirty authors are nationally respected practitioners who have written this book for practitioners. Many of the authors are current or former members of the AICPA Business Valuation Committee and the AICPA BV Hall of Fame." --Michael A. Crain, CPA/ABV, ASA, CFA, CFE, Chair, AICPA Business Valuation Committee, Managing Director, The Financial Valuation Group "This book has a tremendous wealth of information that all valuation analysts must have in their libraries. From those just starting their careers to the most experienced practitioner, all valuation analysts will benefit from the invaluable information, ranging from fundamental practices to the most innovative economic and valuation ideas of today." --Scott R. Saltzman, CPA, CVA, ASA, DABFA, Managing Member, Saltzman LLC; President, National Association of Certified Valuation Analysts Coauthors: Mel H. Abraham, R. James Alerding, Terry Jacoby Allen, Larry R. Cook, Michael A. Crain, Don M. Drysdale, Robert E. Duffy, Edward J. Dupke, Nancy J. Fannon, John R. Gilbert, Chris Hamilton, Thomas E. Hilton, James R. Hitchner, Steven D. Hyden, Gregory S. Koonsman, Mark G. Kucik, Eva M. Lang, Derald L. Lyons, Michael J. Mard, Harold G. Martin Jr., Michael Mattson, Edward F. Moran Jr., Raymond E. Moran, James S. Rigby Jr., Ronald L. Seigneur, Robin E. Taylor, Linda B. Trugman, Samuel Y. Wessinger, Don Wisehart, and Kevin R. Yeanoplos

Author : David Laro,Shannon P. Pratt
Publisher : John Wiley & Sons
Page : 482 pages
File Size : 45,9 Mb
Release : 2005-04-22
Category : Business & Economics
ISBN : 9780471709954

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Business Valuation and Taxes by David Laro,Shannon P. Pratt Pdf

Disputes over valuation issues fill the court's dockets and for good reason, fair market valuations are required frequently by the law. The authors believe that approximately 243 sections of the Code and several thousand references in the Regulations explicitly require fair market value determination. Consequently, taxpayers file an estimated 15 million tax returns each year reporting an event involving a valuation related issue. It is no mystery, therefore, why valuation cases are ubiquitous. Today, valuation is an important and highly sophisticated process. Valuators need legitimate guidance to perform their work. The objective of this book is to provide knowledge, and guidance to those who do the valuations as well as those who are affected by them. This unprecedented text provides: Clear guidance and perspective on business valuation from two of the nation’s top authorities, Hon. David Laro and Dr Shannon Pratt. Insightful perspective and discussion on critical issues, procedures and law pertaining to business valuation. An overview of business valuation procedures Law and techniques of Fair Market Value Opinion from the Hon. David Laro and Dr. Shannon Pratt who express their unique and critical views. The business valuer with everything from the basics to the sophisticated. From definitions to valuing complex business interests, what you need to know about business valuation. Everything from empirical market evidence to credible expert business valuation testimony discussed and analyzed by the Hon. David Laro and Dr. Shannon Pratt.

Author : David Laro,Shannon P. Pratt
Publisher : John Wiley & Sons
Page : 532 pages
File Size : 44,7 Mb
Release : 2011-05-03
Category : Business & Economics
ISBN : 9780470601624

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Business Valuation and Federal Taxes by David Laro,Shannon P. Pratt Pdf

Business Valuation and Federal Taxes Procedure, Law, and Perspective SECOND EDITION Combining the expert knowledge of Senior Judge David Laro and Shannon Pratt, Business Valuation and Federal Taxes, Second Edition presents the authors' decades of experience, with advice on everything practitioners need to know about the relationship between federal taxes and valuation, and specifically valuations relating to business interests. This reference features indepth examinations of numerous topics that are particularly important to practitioners and explores a broad understanding of the basic knowledge needed to appreciate business valuation. Valuators, CPAs consulting on valuations, attorneys, corporate development officers, and intermediaries on business valuation will benefit from insightful discussions on topics ranging from general definitions to valuing complex business interests, as well as new discussions of: Personal versus enterprise goodwill New materials on transfer pricing and customs valuations and how recent markets have affected both the income and market approaches Coverage of FAS 157 and the many changes to penalties and sanctions affecting both taxpayers and appraisers Several important new court cases Coverage is also included on standards of business valuation, IRS positions, burden of proof in valuation controversies, questions to ask business valuation experts, economic and industry analysis, and tax-affecting passthrough entities. Complete with a full overview of the laws, procedures, and approaches related to business valuation, this invaluable reference is a wellspring of vital information on valuation approaches, techniques, finance-related issues, burden of proof, standards, choice of entity, and much more.

Author : James R. Hitchner
Publisher : John Wiley & Sons
Page : 1301 pages
File Size : 48,9 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 : Z. Christopher Mercer,Travis W. Harms
Publisher : John Wiley & Sons
Page : 519 pages
File Size : 42,5 Mb
Release : 2020-10-20
Category : Business & Economics
ISBN : 9781119583097

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Business Valuation by Z. Christopher Mercer,Travis W. Harms Pdf

A guide that demystifies modern valuation theory and shows how to apply fundamental valuation concepts The revised and updated third edition of Business Valuation: An Integrated Theory explores the core concepts of the integrated theory of business valuation and adapts the theory to reflect how the market for private business actually works. In this third edition of their book, the authors—two experts on the topic of business valuation—help readers translate valuation theory into everyday valuation practice. This important updated book: Includes an extended review of the core concepts of the integrated theory of business valuation and applies the theory on a total capital basis Explains “typical” valuation discounts (marketability and minority interest) and premiums (control premiums) in the context of financial theory, institutional reality and the behavior of market participants Explores evolving valuation perspectives in the context of the integrated theory Written by two experts on valuation theory from Mercer Capital The third edition of Business Valuation is the only book available regarding an integrated theory of business valuation—offering an essential, unprecedented resource for business professionals.

Author : Gary R. Trugman
Publisher : John Wiley & Sons
Page : 1253 pages
File Size : 55,6 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 : Nancy J. Fannon,Keith Sellers
Publisher : BVResources
Page : 128 pages
File Size : 50,7 Mb
Release : 2015-04-01
Category : Electronic
ISBN : 1621500500

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Taxes and Value by Nancy J. Fannon,Keith Sellers Pdf

Seven years in the making, Taxes and Value: The Ongoing Research and Analysis Relating to the S Corporation Valuation Puzzle guide provides a substantive contribution to the controversial issue of how to value pass-through entities. Authors Nancy Fannon and Keith Sellers present the findings of decades of academic research on the impact of taxes on firm value and demonstrate that historical market returns impound the effects of shareholder taxes. This research is used to demonstrate how these returns can be adjusted to estimate a cost of capital appropriate for the valuation of a pass-through entity.There are no easy answers to valuing pass-through entities and the research is both dense and ongoing. However, the breadth and depth of information presented in this guide is deep and provides appraisers the ability to make informed inferences to arrive at reasonable valuation conclusions. This guide brings the academic research together in one place and assists the profession in moving forward on its long-struggling quest to solve the pass-through entity valuation puzzle. Here is what the technical review panel has to say about this highly-anticipated guide:"Great job marshalling the arguments and presenting them in a logical way." (Aswath Damodaran, Professor of Finance, Stern School of Business, New York University)"I am impressed at the research (...the authors) put into this document." (Michael Gregory, Consultant, Michael Gregory Consulting)"This book has a nice flow with logical conclusions and very practical suggestions and reasonable alternatives which BV practitioners can relate to and judges can follow." (Ken Pi, Partner in Charge of Business Valuations, Meyers, Harrison & Pia, LLC)"Bravo! I believe this will be the seminal work on the subject and serve to change a lot of minds." (Theodore Israel, Partner, Israel Frey Group, LLC)

Author : Z. Christopher Mercer,Travis W. Harms
Publisher : John Wiley & Sons
Page : 291 pages
File Size : 55,5 Mb
Release : 2007-09-24
Category : Business & Economics
ISBN : 9780470178669

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Business Valuation by Z. Christopher Mercer,Travis W. Harms Pdf

Praise for Business Valuation: An Integrated Theory, 2nd Edition "The Second Edition of Business Valuation: An Integrated Theory manages to present the theoretical analysis of valuation from the first edition and expand on that discussion by providing additional guidance on implementing the relevant valuation theories, notably in its expanded discussion of the Quantitative Marketability Discount Model." —Dr. David Tabak, NERA Economic Consulting Your Essential Valuations Reference Whether you are an accountant, auditor, financial planner, or attorney, Business Valuation: An Integrated Theory, 2nd Edition enables you to understand and correctly apply fundamental valuation concepts. Thoroughly revised and expanded, the Second Edition demystifies modern valuation theory, bringing together various valuation concepts to reveal a comprehensive picture of business valuation. With the implementation of new accounting pronouncements mandating the recognition of numerous assets and liabilities at fair value, it has become critical for CPAs charged with auditing financial statements to understand valuation concepts. With thoughtful and balanced treatment of both theory and application, this essential guide reveals: The "GRAPES of Value"-Growth, Risk and Reward, Alternative Investments, Present Value, Expectations, and Sanity The relationship between the Gordon Model and the discounted cash flow model of valuation The basis for commonly applied, but commonly misunderstood valuation premiums and discounts A practical perspective on the analysis of potential business acquisitions Grounded in the real world of market participants, Business Valuation, 2nd Edition addresses your need to understand business valuation, providing a means of articulating valuation concepts to help you negotiate value-enhancing transactions. If you want to get back to valuation basics, this useful reference will become your guide to defining the various levels of value and developing a better understanding of business appraisal reports.

Author : Michael A. Crain,William S. Hopwood,Carl Pacini,George R. Young
Publisher : John Wiley & Sons
Page : 630 pages
File Size : 52,8 Mb
Release : 2018-07-31
Category : Business & Economics
ISBN : 9781119552260

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Essentials of Forensic Accounting by Michael A. Crain,William S. Hopwood,Carl Pacini,George R. Young Pdf

The highly experienced authors of the Essentials of Forensic Accounting define and explain the disciplined approaches to forensic accounting that lead to a thorough knowledge of the varied specialties within forensic accounting. Through illustrative examples and explanations, this book makes abstract concepts come to life for both seasoned professionals and students and it will help them understand and navigate successfully in this multifaceted area. The Essentials of Forensic Accounting is an indispensable resource delivering matchless knowledge to practitioners, financial managers and students in understanding the complex elements and factors that impact the forensic accounting practice areas. This vital reference resource focuses the elements that must come together to effectively diminish the incidence and impact of fraudulent activities. The book addresses the main themes of Professional Responsibilities and Practice Management Fundamental Forensic Knowledge, Laws, Courts, and Dispute Resolution Specialized Forensic Knowledge, Bankruptcy, Insolvency, and Reorganization

Author : Anonim
Publisher : Unknown
Page : 1038 pages
File Size : 42,6 Mb
Release : 1988
Category : Administrative law
ISBN : STANFORD:36105063398346

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The Code of Federal Regulations of the United States of America by Anonim Pdf

The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government.

Author : James R. Hitchner
Publisher : John Wiley & Sons
Page : 480 pages
File Size : 44,7 Mb
Release : 2017-04-19
Category : Business & Economics
ISBN : 9781119312352

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Financial Valuation Workbook by James R. Hitchner Pdf

Practical valuation exercises with real-world application and expert insight Financial Valuation Workbook cuts the learning curve in half, with practical training for use with any valuation textbook. Packed with tools, resources, and over 300 exercises, this book helps novices get a handle on the complex valuation process, while helping more experienced practitioners organize their engagements. Checklists, flowcharts, reports, information requests, and other resources help streamline the workflow and ensure thorough review, while in-depth coverage places the complexities of the field front-and-center. This new fourth edition features a brand new expanded case study for real-world insight, accompanied by exercises with explanations that deepen the learning process. Expert tips are highlighted throughout to provide additional insight in specific situations, and exercises from basic to advanced map to established training processes. Valuation is as an art, as well as a science, and simply reading a textbook only goes halfway toward true learning—applying what you learn is critical. This book provides hands-on practice alongside useful tools and valuable insight to help solidify your understanding of the many facets of this complex field. Delve into the intricacies of valuation with a new expanded case study and expert tips Follow checklists and flowcharts for each phase of the valuation process Use reports, information requests, and other tools that help organize your workflow Test your understanding with over 300 exercises organized by major area Organized into standard, recognized, and easily identified sections that lend themselves to quick refreshers as well as start-to-finish study, this book is a truly useful resource for beginner and veteran alike. Whether you're learning valuation for the first time or simply need guidance on an unfamiliar situation, Financial Valuation Workbook provides a key resource for any business valuation professional.

Author : Commerce Clearing House
Publisher : Unknown
Page : 1806 pages
File Size : 55,6 Mb
Release : 1991
Category : Income tax
ISBN : RUTGERS:39030011896372

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Income Tax Regulations, Final and Proposed Under Internal Revenue Code by Commerce Clearing House Pdf

Author : Shannon P. Pratt,Roger J. Grabowski
Publisher : John Wiley & Sons
Page : 448 pages
File Size : 50,8 Mb
Release : 2008-02-25
Category : Business & Economics
ISBN : 0470223715

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Cost of Capital by Shannon P. Pratt,Roger J. Grabowski Pdf

In this long-awaited Third Edition of Cost of Capital: Applications and Examples, renowned valuation experts and authors Shannon Pratt and Roger Grabowski address the most controversial issues and problems in estimating the cost of capital. This authoritative book makes a timely and significant contribution to the business valuation body of knowledge and is an essential part of the expert's library.

Author : Anonim
Publisher : Unknown
Page : 1564 pages
File Size : 42,9 Mb
Release : 1977
Category : Administrative law
ISBN : UOM:39015022745619

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Code of Federal Regulations by Anonim Pdf

Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries.