A reviewer's handbook to business valuation: practical guidance to the use and abuse of a business appraisal

Thorough guidance and detailed analysis of the valuation business engagement Discussing the practical aspects of business valuation that arise in the context of a tax valuation, this book provides you with detailed analysis of the valuation business engagement process. Detailed discussion is included of various cases outlining errors that appraisers have made in appraisal reports, as well as in-depth discussion of the current appraisal industry issues that are impacting tax valuations. Examines concepts and topics including level of value,the role of estate planners in the business valuation process, the use of appraisers in estate planning and litigation, and the appraiser identification/selection process Provides insight into the nature of the major appraisal trade associations Offers insights into preventing errors from getting into appraisal reports This helpful guide provides you with the detailed discussion you need on the various business valuation standards that have been promulgated by the Appraisal Standards Board as well as several appraisal trade associations. INDICE: Foreword. Preface. Highlights of this Book. Who Should Read this Book? About the Book. Acknowledgments. Part I Foundations: Valuing a Business. Chapter 1 Fundamental Concepts for Defining Value. Standard of Value. Level ofValue. Premise of Value. Conclusion. Chapter 2 Defining the Engagement. The Importance of Defining the Engagement. Defining the Client. The First Call. TheSubject Entity and Entity Type. Entity Distinctions and Entity Significance in the Valuation. State of Entity Organization or Incorporation. Principal Business Location. Description of the Subject Interest. Purpose and Intended Use of the Valuation. Date of the Valuation. Scope of the Work Product. Summary Assignment Definition Table. The As of Date of the Appraisal and the Date of the Appraisal Report Added Thoughts and Perspective. Conclusion. Chapter 3 Information Collection and Due Diligence. Importance of the Information Collection and Due Diligence Phase. Industry and Economic Considerations. Financial Information and Analysis. The Management Interview. Preparation. Agenda of a Typical Management Interview. Conclusion. Chapter 4 An Overview of Valuation Approaches. Recognized Valuation Approaches. Methodology and Level of Value, Direct andIndirect Methodology. Conclusion. Chapter 5 Valuation Approaches: The Cost Approach. The Cost Approach. Typical Adjustments in the Cost Approach (using Tangible Net Asset Value Methods). To Tax Affect or Not. Conclusion. Chapter 6 The Income Approach to Value. Direct Capitalization and Discrete Projection Methods. Reconciliation of Income Methods to Market Methods. Typical Adjustments to the Income Statement. Adjustments That Correspond to Balance Sheet Treatments. Reconciling or Reclassifying Interim Period Measures to Fiscal Period Measures. Income Statement Adjustments and Considerations. Matching the Cost of Capital to the Benefit Stream. Developing the Cost of Capital. Summary Examples of Developing the Cost of Equity Capital. Growth Rate of Earnings. Net Cash Flow. Finishing the Direct Capitalization Equation. Developing the Single-Period Benefit (Ongoing Earnings and Ongoing Net Cash Flow) and Preparation for the Discounted Future Benefits Method. Example of a Single Period Capitalization toDerive the Market Value of Total Invested Capital. The Discounted Future Benefits Method (DFB). Conclusion. Chapter 7 The Market Approach. Valuation Methods under the Market Approach. Rules of Thumb. Transactions Method. Guideline Public Company Method. The Fundamental Adjustment. Guideline Transactions Method. Conclusion. Chapter 8 Correlation of Value. Global Considerations in the Correlation Process. Examples of Correlating a Value Indication. Conclusion. Chapter 9 Valuation Discounts and Premiums. The Levels of Value Revisited. Perspective on the Control Premium. Control Premiums Subs

• ISBN: 978-0-470-60340-6
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 512
• Fecha Publicación: 13/04/2011
• Nº Volúmenes: 1
• Idioma: Inglés