Valuation/Lit. sup./Fraud/M&A
Showing 1377–1392 of 1569 results
-
4 keys to authenticating electronically stored information
Summer 2009
Newsletter: Valuation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 501
Abstract: Electronically stored information (ESI) plays a prominent role in today’s litigation but, like any evidence, it must meet the authentication threshold before it will be admitted at trial. Qualified experts can apply many technological tools to establish the authenticity of ESI. It’s important, however, to understand the limits of such tools, whether arguing for or against the authenticity. This article provides an overview of four tools that can prove critical to ESI authentication.
-
Valuation methodology – The market approach proves informative, challenging
Summer 2009
Newsletter: Valuation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 779
Abstract: When helping to take a business to market (or helping someone buy a business), appraisers often employ the market approach. Unlike the other two primary valuation methods, the income and asset approaches, the market approach looks to similar businesses to estimate a company’s fair market value. This article reviews the market approach as well as two variations on it, the transaction method and the guideline public company method.
-
When prevention fails … Jointly published guide details fraud detection techniques
Summer 2009
Newsletter: Valuation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 1044
Abstract: No organization can ever completely eliminate the risk of fraud in its business — even when preventive measures have been put in place — which makes timely detection crucial. Managing the Business Risk of Fraud: A Practical Guide, jointly published by several industry associations, offers valuable information on the detection techniques a fraud expert might employ. This article discusses some of those techniques, such as whistleblower hotlines, process controls, documentation methods and several proactive measures. A sidebar lists 10 criteria for evaluating fraud detection techniques.
-
What’s the valuation Rx for unhealthy companies?
July / August 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 435
Abstract: The recession has taken its toll on many companies. Factors driving companies to the brink of bankruptcy include weak demand, scaled-back corporate budgets and rising commodity prices. This brief article discusses the warning signs of trouble, including late or missing financial records; deferred maintenance, repair and equipment updates; and sales of fixed assets to generate cash. It then points out how valuators can work with management to help distressed companies accurately project value in light of turnaround plans as well as determine liquidation value if needed.
-
Identify a qualified appraiser with these questions
July / August 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 782
Abstract: This article offers advice to help attorneys identify qualified valuation experts and facilitate questioning in deposition and at trial. It lists several points that can help determine whether an appraiser is qualified, including years of experience, percentage of time spent valuing businesses and professional business valuation credentials. The article suggests that obtaining clarification up front can help attorneys get the most from a valuator’s expertise and avoid costly mistakes.
-
For what it’s worth — The issue of owners’ compensation
July / August 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1027
Abstract: One of the biggest expenses for private businesses is owners’ compensation. Value often is based on comparisons between a subject company and guideline companies. If owners are overcompensated compared with similar businesses, the subject company will be undervalued on a controlling basis — and vice versa — unless the valuator adjusts the company’s income stream. This article discusses the issues involved with owners’ compensation, including executive compensation in divorce cases, tax issues, the company’s industry and the general economy.
-
Electronic discovery: Federal Rules meet the 21st century
July / August 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1087
Abstract: Most businesses create and retain information in some type of electronic format, which may include e-mails, spreadsheets, voice mails and accounting records. And all of this electronically stored information (ESI) could be relevant in a lawsuit. The federal judiciary’s Civil Rules Advisory Committee recently amended the Federal Rules of Civil Procedure (FRCP). The new rules, which took effect in December 2006 and govern ESI, provide litigants with a cost-effective, timely way to share data. This article looks at how valuation experts can help attorneys address such issues as potential sources of electronic data, control concerns, preferred formats for electronic documents, and ESI preservation and authentication. A sidebar outlines an 11-point checklist for authenticating electronic records.
-
Are you producing damaging evidence? The implications of electronic metadata
July / August 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 708
Abstract: Electronically stored information (ESI) has become one of the most prominent types of litigation evidence. Such records contain critical bits of forensic evidence — or, metadata — that aren’t found in their hard copy counterparts. When parties produce electronic documents, therefore, they also may be producing revealing, even damaging, metadata. Before it begins to gather and review potentially responsive files, the producing party must preserve requested ESI with its metadata. Forensic experts can help by imaging a company’s servers and hard drives before the files are searched and reviewed.
-
How computerized testing detects journal entry fraud
July / August 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 791
Abstract: Fraudulent journal entries are extremely susceptible to management override of internal controls. And manual testing may miss evidence of fraud, since it can only examine a portion of general ledger entries. Computerized testing, however, considers the entire dataset, reducing the risk of overlooking critical evidence. Such testing also allows fraud experts to devote more time to other aspects of the investigation, such as gathering information about the business and interviewing employees.
-
Shareholder damages – More class action cases, less certainty
July / August 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 732
Abstract: The number of securities class action suits has escalated in recent years. And because greater market volatility historically correlates with an increased level of securities litigation, the numbers can be expected to rise. Market instability can also complicate the already tricky process of calculating shareholder damages. This article discusses some of the steps involved in attributing price, along with the trading models that might be used in aggregating damages.
-
Court ruling: Accounting for embedded taxes
July / August 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 1090
Abstract: A hotly disputed business valuation issue recently was addressed in a seven-years-plus divorce case, one of first impression in New York. The appellate level court considered the extent to which the value of a holding company owned by the husband should be reduced to reflect the federal and state taxes embedded in the securities owned by the company due to unrealized appreciation. The case involved choosing between an “historical tax rate” approach to valuation vs. one in which an actual sale of the company’s assets is assumed to occur on the valuation date. A sidebar addresses the argument of the husband’s expert that the company’s value should be reduced by the nontax costs of liquidation.
-
Ask the Advisor – Q. Should my distressed company consider a debt restructuring?
June / July 2009
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 579
Abstract: Financially troubled companies facing severe cashflow problems may need to seek alternative methods to satisfy their outstanding debts. This column discusses one option: an out-of-court debt restructuring. In a debt restructuring, a company informally renegotiates outstanding debt obligations with its creditors. The resulting agreement is legally binding, and can enable the distressed company to reduce its debt, extend maturities, alter payment terms or consolidate loans. Debt restructuring is a far less extreme and burdensome — not to mention, expensive — alternative to filing for Chapter 11 bankruptcy protection.
-
In shape to sell – How fit is your business?
June / July 2009
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Even when owners aren’t planning to sell their business for years, they should use the intervening time to make it more attractive to eventual buyers. To improve a company’s value and fitness for sale, businesses likely need to firm up their balance sheet as well as subject operations and even employees to performance and productivity measures. This process involves auditing financial statements to find weak spots, and making infrastructure improvements to reduce inefficiencies. And, since buyers may be more risk-averse in the future, a risk assessment is important, as well.
-
Selling a distressed company at a healthy price
June / July 2009
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: Selling may be the best option for financially distressed companies. But distressed companies face obstacles healthier companies don’t — namely, finding a buyer that will accept the financial challenges and pay the seller a fair price for the opportunity to turn the business around. Sellers don’t necessarily have to settle for a fire-sale price but they do need to understand what they have and how they can market it most effectively.
-
Solve your credit crisis with seller financing
June / July 2009
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: With much of the credit markets in a deep freeze, M&A activity has, not surprisingly, declined. Many buyers simply can’t find the financing they need to make acquisitions. A prospective seller, however, can attract buyers or help keep a planned deal alive by agreeing to finance at least part of the acquisition by deferring a portion of the selling price. Seller financing can be accomplished through an installment plan or a seller loan. This article describes how either approach can benefit both parties.
-
Valuation critical under new M&A rules
May / June 2009
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: Sweeping changes to the accounting rules for mergers and acquisitions (M&A) will start affecting many companies that are closing deals this year. FASB SFAS No. 141(R), Business Combinations, was issued in late 2007, but it applies to deals closing on or after the first day of the first annual reporting period beginning after Dec. 15, 2008. This article explains how many of the changes prescribed in this 358-page document increase the importance of having accurate valuations.