Valuation/Lit. sup./Fraud/M&A

Showing 1521–1536 of 1557 results

  • Accounting for mergers – New standard could influence purchase prices

    Spring 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 822

    Abstract: This article talks about how the newly revised Financial Accounting Standards Board Statement No. 141R, Business Combinations, expands the scope of covered business combinations and revises how transaction costs will be recorded. The revised standard could affect merger negotiations, particularly over a company’s purchase price, and prompt earlier valuations of assets.

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  • Information underload – Financial experts can make, or break, the case for punitive damages

    Spring 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 709

    Abstract: Attorneys often are reluctant to put their financial experts on the witness stand. But failing to use a CPA to provide jurors with the information and context they need to make a fair punitive damages award can backfire. As this article explains, CPAs can strengthen cases for or against punitive damages. Among other things, these experts can explain to a jury the defendant’s financial position, analyze any gains the defendant enjoyed because of the allegedly wrongful conduct, and break down and clarify financial statements.

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  • For what it’s worth: Valuation in the courts – S corporation dispute highlights valuation challenges

    Spring 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 564

    Abstract: This issue’s “For what it’s worth: Valuation in the courts” looks at a recent divorce case that demonstrates the significant impact that “tax-affecting” an S corporation can have on a business appraisal. The case also shows that court decisions can sometimes have bearing on valuation issues debated in other venues. Citations: Bernier v. Bernier (2007 Mass. LEXIS 598, May 7, 2007). Gross v. Commissioner of Internal Revenue (272 F. 3d 333, 6th Cir. 2007, cert. denied, 537 U.S. 827, 2002). Delaware Open MRI Radiology Associates v. Kessler (898 A 2d 290, 327, Del. Ct. Ch. 2006).

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  • Distinctive challenges: Appraising professional practices

    Spring 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 631

    Abstract: Professional practices — such as architecture, accounting, medical and law firms — present distinctive challenges for appraisers. Despite the divergent nature of their operations, however, professional practices do share a few common valuation denominators. This article looks at those denominators and how appraisers apply them. (Updated 11/14/12)

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  • The fair value remedy – Important considerations in minority shareholder disputes

    Spring 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 758

    Abstract: Minority shareholders who feel mistreated in a major business transaction can file suit against controlling owners. For instance, a minority shareholder might object to a stock-for-stock or “squeeze-out” merger. Or, if a proposed transaction will reduce a minority shareholder’s compensation, divert corporate assets — or both — he or she may file an oppression suit. This article explains how, in such cases, courts will often apply a fair value remedy. (Updated 2/7/12)

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  • Mergers and acquisitions – Appraisers can play critical role in private business sales

    Spring 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1061

    Abstract: Selling a private company for top dollar requires a team effort. Few private business owners have previous merger and acquisition (M&A) experience, making it essential that they seek input from outside professionals. In addition to attorneys, accountants and business brokers, appraisers can play a critical role in the sale of a private business. This article explains how. (Updated 2/7/12)

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  • Taking a WACC at the cost of capital

    March / April 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 454

    Abstract: The “cost of capital” can be an important component of an income-based valuation. And like many valuation terms, its precise meaning depends on the context. This brief article explains how appraisers use the weighted average cost of capital to derive a discount rate. It also discusses how appraisers determine a company’s appropriate capital structure — or relative percentages of debt and equity.

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  • Precise estimate needed for human capital value

    March / April 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 764

    Abstract: Most business owners can attest to the substantial time and expense involved in attracting and retaining quality talent. Yet from a valuation perspective, owners and their attorneys often need a more precise estimate of the value of a company’s human capital. This article discusses the variety of methods and approaches appraisers may use to come up with a well-founded, reliable workforce value. (Updated 5/21/12)

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  • Rules of engagement – How CPA ethics rules affect your experts

    March / April 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 815

    Abstract: Rule 101 of the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct requires CPAs to be “independent in the performance of professional services.” AICPA Interpretation 101-3, Performance of Nonattest Services, describes several nonattest services that, if performed for an attest client, impair a CPA’s independence. A recent controversial revision to Interpretation 101-3 added expert witness services to the list of activities that impair a CPA’s independence. This article notes the importance of expert witness independence and the impact on litigation.

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  • I’ve got a secret! Calculating damages in trade secret cases

    March / April 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1117

    Abstract: Although trade secrets are classified as “intellectual property,” they’re conceptually and legally different from other types of intangible assets. Not for public consumption, they include a broad range of assets such as customer lists, formulas, designs, manufacturing processes and marketing plans. This article explains how experts calculate damages in trade secret cases and looks at some of the unique challenges inherent in evaluating this type of intellectual property.

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  • The nuts and bolts of valuing manufacturers

    March / April 2008
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 415

    Abstract: A reliable manufacturing valuation hinges on an in-depth understanding of current industry trends and value drivers. This brief article describes the most useful approaches for estimating a manufacturing firm’s fair market value and notes some important trends and risks that affect domestic manufacturer value.

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  • Which income projections, when?

    March / April 2008
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 676

    Abstract: Future earnings often serve as the basis of value. But a company’s earnings capacity is in the eye of the beholder. This article explains that valuators can look at several factors when deciding the basis for estimating future earnings, including historic data, management projections and appraiser analyses. It discusses a recent divorce case, Aukeman v. Aukeman, to illustrate this process.

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  • Supreme Court decision could require fresh patent valuations

    March / April 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 687

    Abstract: A U.S. Supreme Court ruling welcomed by many in the technology arena may have made it more difficult to obtain and retain patent protection. The decision in KSR International Co. v. Teleflex Inc (U.S. 2007) could diminish the value of some patents and their related revenues. Because it has implications for compliance with the Sarbanes-Oxley Act (SOX) and certain accounting standards, some companies may require new patent valuations.

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  • Valuing S corporations – Tax-affecting reels from another blow

    March / April 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 664

    Abstract: In Bernier v. Bernier (Mass. 2007), the court considered whether tax-affecting — which reduces a business’s projected future income by deducting hypothetical corporate income taxes — was inappropriate in valuing an S corporation. This article explains how the Bernier court arrived at the decision that the value of closely held companies with flow-through tax benefits should not be reduced by a full tax-affecting.

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  • Court rules on discoverability of draft expert reports

    March / April 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 921

    Abstract: When experts perform valuations for litigation purposes, issues can arise over the discoverability of their draft reports and their duty to preserve them as well as correspondence related to the drafts. A recent federal district court decision, University of Pittsburgh v. Townsend (E.D. Tenn. 2007), provides valuable guidance for attorneys and accounting experts by clarifying experts’ duties to preserve and disclose draft reports. This article discusses the case and the court’s findings.

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  • Ask the Advisor – Q: Can a shareholder agreement prevent conflict among business owners?

    February / March 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 506

    Abstract: As this column explains, shareholder agreements enable owners to plan their company’s future — whatever unexpected events might befall it. These agreements assign ownership, set a value for company shares, dictate buyout terms and outline how the company is to be managed. This detailed plan helps to eliminate surprises and minimize disagreements down the line. (Updated 9/27/12)

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