Valuation/Lit. sup./Fraud/M&A
Showing 1521–1536 of 1569 results
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Valuators in the field
May / June 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 397
Abstract: Site visits are an important part of the valuation process. Not only do they enhance a valuator’s understanding of business operations, but they also provide an opportunity to conduct face-to-face management interviews. This brief article lists what valuators look for during site visits, including asset and facility condition and whether there are any capacity issues.
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Appraising appraisals — How to read a valuation report
May / June 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 551
Abstract: To understand an appraisal opinion, readers must wade through unfamiliar financial jargon, subjective assumptions and pages of complex mathematical computations. And comparing two widely divergent analyses to ascertain which opinion is more reliable is even more challenging. This article highlights some key elements that should appear in a comprehensive, reliable valuation report.
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Taxpayer victory in the battle over built-in capital gains tax
May / June 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1072
Abstract: Built-in capital gains tax is an economic reality for C corporations. Recent Tax Court rulings have forced the IRS to concede that hypothetical investors consider imbedded tax liabilities when buying and selling C corporations. This article discusses a recent case, Estate of Jelke v. Commissioner, which provides an example of the ongoing debate as to whether valuators should apply dollar-for-dollar or discounted reductions for built-in capital gains tax liabilities. Citations: Estate of Jelke v. Commissioner, U.S. Court of Appeals for the 11th Circuit, No. 05-15549, Nov. 15, 2007. Estate of Davis v. Commissioner, 110 T.C. 530, 1998. Estate of Eisenberg v. Commissioner, 155 F.3d. 50, 57, 2d. Cir., 1998. Estate of Jameson v. Commissioner, 267 F.3d. 50, 57, 2d Cir., 1998. Estate of Dunn, 301 F.3d. 339, 5th Cir., 2002.
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FIN 46 may affect valuations of partnership interests
May / June 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 575
Abstract: Several years ago, the Financial Accounting Standards Board released Interpretation No. 46 (FIN 46), Consolidation of Variable Interest Entities. This interpretation requires the consolidation of business enterprises with certain related entities on their financial statements. This article talks about the implications of FIN 46 when valuing partnership interests for litigation purposes, including consolidating a variable interest entity.
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Federal court denies IRS access to taxpayer’s work product
May / June 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 1112
Abstract: A recent federal court decision lends support to taxpayers’ efforts to protect their tax accrual workpapers from disclosure to the IRS. The ruling in U.S. v. Textron Inc. (D.R.I. 2007) could prove critical in light of a relatively new accounting standard, FIN 48, which requires corporate taxpayers to document their uncertain tax positions and make related public disclosures. But because the years at issue in Textron occurred before the standard’s effective date, it remains unclear whether required public filing disclosures required will waive work product privilege.
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Ask the Advisor – Q: How can I prepare my business for a tighter credit cycle?
April / May 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 481
Abstract: This column suggests ways businesses can prepare for and better weather tightened credit conditions. These include keeping lenders informed, managing liquidity and working with a credit arranger to negotiate and develop credit terms and documents.
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Put your money where your mouth is – Communicating effectively with M&A stakeholders
April / May 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 714
Abstract: Clearly communicating an M&A with employees, investors and other stakeholders can mean the difference between a good deal and no deal. Market perceptions play a critical role in how mergers progress, so both sellers and buyers need to develop a formal communications plan that will help relieve anxiety about impending changes and drum up internal and external support. The plan should cover the timing and form of communications, explaining the benefits of the transaction and responding to frequently asked questions. (Updated 7/31/12)
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Does your business measure up? Benchmarking financial performance
April / May 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 850
Abstract: Benchmarking — or comparing a company’s financials to those of industry peers and its own historical performance — can help business sellers determine value and achieve a fair sale price, and may give buyers insight into the future profitability of a potential acquisition. This article explains which data is most important to potential acquirers and how sellers can prepare it to give the clearest picture of the business. It also provides a list of benchmarking data sources.
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Improve your turnaround’s forecast for long-term success
April / May 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 724
Abstract: Companies struggling with poor cash flow, inadequate capital and weak leadership are particularly vulnerable to economic downturns and today’s global business challenges. To turn an unprofitable company around, new owners must have a plan and be ready to implement it as soon as the ink on the deal is dry. As this article discusses, a buyer’s plan should include divestiture of unprofitable segments, a long-term cash management plan and a review of accounting and reporting systems. It also suggests ways for sellers of troubled businesses to prepare for buyer scrutiny.
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Jelke reverses Tax Court on discount for built-in gains tax
Spring 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 470
Abstract: The recent appellate court decision in Estate of Jelke v. Commissioner (11th Cir. 2007) could dramatically affect estate tax liability. This article summarizes the case’s history and court’s ruling, and explains why it’s a boon to estate taxpayers and could be relevant to the valuation of C corporations in divorce matters.
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Calculating construction defect damages
Spring 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 357
Abstract: Even construction jobs that finish on time and within budget can produce claims down the road if defects later arise. As this short article discusses, the remedy in a construction defect case usually comes down to the most feasible and reasonable repair that puts the owner in as close to the same position as if the contractor had performed properly. (Updated 8/22/12)
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How income reconstruction builds a case against fraudsters
Spring 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 626
Abstract: Sometimes a company discovers the misappropriation of assets and has a guess as to who may be behind it but no direct evidence to back up its suspicions. A financial expert can help by using income reconstruction to show that an employee’s estimated actual income is higher than his or her known income. This article covers some of the common methods of income reconstruction and what circumstances may indicate that it should be used. (Updated 11/30/12)
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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)