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What to expect from the new business valuation standard
January / February 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 925
Abstract: The American Institute of Certified Public Accountants (AICPA) has issued a new valuation standard that takes effect for engagements accepted on or after Jan. 1, 2008. Statement on Standards for Valuation Services No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset applies to all AICPA members, including those who perform valuations for certain purposes — including transactions, financings and taxation. This article discusses how the new standard can affect attorneys by permitting only two types of engagement reports.
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A question of relevance – Calculating lost prospective profits
January / February 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 991
Abstract: Establishing lost profits for businesses that were never actually operational can prove difficult. In Parlour Enterprises Inc. v. The Kirin Group, a California appellate court weighed in on the key factors to consider when calculating prospective profits in such cases. As this article explains, the court’s decision emphasizes the need to hire qualified valuators who can build a case with reasonable certainty by using, for example, expert testimony, financial data and market surveys.