Valuation/Lit. sup./Fraud/M&A
Showing 1537–1552 of 1569 results
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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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Board appeal – Your directors can help steer you through an M&A
February / March 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 854
Abstract: Whether a company is on the buying or selling side of an M&A, its board of directors can help guide and advise it through the process. A legally formed board of directors has a fiduciary obligation to try to negotiate the best deal for its shareholders and, as this article discusses, may be involved at many stages of the transaction. This includes, on the buying side, ensuring that the acquisition’s rewards outstrip risks such as increased debt. On the selling side, a board can help make the case for the sale to shareholders and vet potential buyers.
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Buying damaged goods? How to evaluate a distressed company’s potential
February / March 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 685
Abstract: Thorough due diligence and a professional valuation can help reveal whether a distressed company is a diamond in the rough or fatally flawed. This article provides tips on spotting imminent trouble, including debt reduction programs and cost-cutting tactics. It also helps buyers evaluate an acquisition’s hidden opportunities, by weighing its market position, demographic trends, revenue growth, cash reserves and industry conditions. (Updated 3/31/12)
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Don’t let fraud derail your deal
February / March 2008
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 842
Abstract: A thorough investigation performed by forensic accounting and other financial experts during the due diligence stage of an M&A deal can help uncover financial statement and other forms of fraud. Before they waste valuable time and resources negotiating a deal, buyers should perform background checks on the selling company’s owners and executives, search for financial manipulation and ensure the business has adequate fraud policies and internal controls in place.
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All’s not lost – Uncovering lingering electronic evidence
Winter 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 481
Abstract: Even when electronic evidence appears to have been deleted, forensic experts can help clients look for valuable nuggets of information. Experts may be able to break passwords, resurrect documents and find evidence in computer caches, recycle bins and meta data. (Updated 7/25/12)