Excess Corporate Cash
Logic dictates that valuation experts assume that cash is worth its face value in majority interest or control scenarios. And that assumption makes sense:...
Discounts Under Siege
The year 2009 was less than two weeks old when Congressman Earl Pomeroy (D-N.D.) introduced a bill1 with the express purpose of legislatively prohibiting...
Valuations of Private Promissory Notes
Recent declines in the real estate and credit markets provide a unique opportunity in valuations of promissory notes. At first blush, the fair market...
The Holy Grail of a Valid DLOM
Business valuation analysts have been frustrated for years trying to arrive at a reasonable, plausible, defensible and supportable discount for lack of...
The Matched Pairs Approach
Perhaps nothing in business valuation is more controversial than the discount for lack of marketability (DLOM).1 This one adjustment can have a sizable...
Related Links
American Institute of Certified Public Accountants, Business Valuation and Forensic & Litigation Services Center
bvfls.aicpa.orgFrom the website: "The American Institute of Certified Public Accountants is the national, professional organization for all Certified Public Accountants. Its mission is to provide members with the resources, information, and leadership that enable them to provide valuable services in the highest professional manner to benefit the public as well as employers and clients."
Appraisers Association of America
www.appraisersassoc.orgFrom the website: "Appraisers Association of America, established in 1949, is the premier association of personal property appraisers serving the arts, legal, and financial communities. Our certified members provide USPAP-compliant appraisals for the fine and decorative arts, jewelry, and household contents for purposes of insurance, estate tax, charitable donation, equitable distribution, liquidation, purchase, and sale."
American Society of Appraisers
www.appraisers.orgFrom the website: "The American Society of Appraisers is committed to fostering professional excellence in its membership through education, accreditation, publication and other services. Its prestige is intended to contribute to the growth of its membership and to the appraisal profession."
American Society of Farm Managers and Rural Appraisers
www.asfmra.orgFrom the website: "The premier organization for professionals who provide management, valuation, and consulting services on agricultural and rural assets since 1929."
International Society of Appraisers
isa-appraisers.orgFrom the website: "The International Society of Appraisers (ISA) is a not-for-profit, member-driven association, formed to support our member needs and serve the public by producing highly qualified and ethical appraisers who are recognized authorities in professional personal property appraising. Our members include many of the country's most respected independent appraisers, consultants, estate liquidators, auctioneers, gallery owners, and dealers."
National Association of Certified Valuation Analysis (NACVA)
www.nacva.comFrom the website: "NACVA's mission is to provide resources to members and to enhance their status, credentials, and esteem in the field of performing valuations, financial forensics, and related specialty advisory services. To further this purpose, NACVA will advance these services as an art and science, establish standards for membership in the Association, provide professional education and research, foster practice development, advance ethical and professional practices, enhance public awareness of the Association and its members, and promote working relationships with other professional organizations."
The Appraisal Foundation
www.appraisalfoundation.orgFrom the website: "The Appraisal Foundation, a not-for-profit educational organization dedicated to the advancement of professional valuation, was established by the appraisal profession in the United States in 1987…The Appraisal Foundation is a non-profit educational organization established in 1987 to foster professionalism in valuation through the establishment and promotion of professional appraisal standards and appraiser qualifications. The Foundation accomplishes its mission through the work of two independent boards, the Appraiser Qualifications Board (AQB) and the Appraisal Standards Board (ASB). The AQB establishes the minimum education, experience and examination criteria for appraisers and the ASB promulgates the generally accepted standards of the valuation profession."
The Institute of Business Appraisers
www.go-iba.comFrom the website: "The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely-held businesses. Established in 1978, the Institute is a pioneer in business appraisal education and professional accreditation."
Advisory Board -
Valuations Committee
Radd L. Riebe (chair)
Stout Risius Ross, Inc.Christine L. Baker
Rehmann ConsultingWilliam H. Frazier
Howard Frazier Barker Elliott Inc.Annika M. Reinemann
Cogent ValuationDaniel R. Van Vleet
Duff & Phelps, LLCComplete list of the Trusts & Estates Editorial Advisory Board
