Valuation & Litigation Briefing / Litigation & Valuation Report

Showing 273–288 of 313 results

  • Estate wins the discount war

    July / August 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 623

    Abstract: In Estate of Litchfield v. Commissioner, the Tax Court generally accepted the estate’s proposed valuation discounts because the estate’s expert’s methods were more precise and relied on more recent, company-specific data. The article and an accompanying chart show the differences between the estate’s and the IRS’s discounts and why the court sided mostly with the estate.

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  • In valuation, timing is everything

    July / August 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 476

    Abstract: The valuation date can have an enormous impact on value, particularly for assets such as stock, whose valuations can fluctuate dramatically, literally overnight. Learn how the valuation date is especially important in estate planning, divorce settlements, and shareholder litigation.

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  • Nonqualified deferred compensation – Independent appraisals offer protection against 409A challenge

    July / August 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1174

    Abstract: Businesses that provide employees with stock options, stock appreciation rights (SARs) and other types of nonqualified deferred compensation have been subject to Internal Revenue Code Section 409A for years. As you can imagine, compliance is particularly challenging in the current economic environment. To avoid Sec. 409A problems, options and SARs must be issued at or above fair market value, so accurate valuations are critical. It’s important to know what Sec. 409A requires and how to establish fair market value. Three “presumptive” valuation methods are discussed.

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  • Damage control – Surviving a business interruption

    July / August 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1175

    Abstract: Whether it’s minor, such as a lightning strike that shuts down production for a day, or major, such as a lengthy labor strike, a business interruption not only reduces income, but also simultaneously creates new expenses. The key to surviving a business interruption is to restore normal operations as quickly as possible. Insurance plays a critical role. This article explains business interruption insurance, how to file a claim, what to do to mitigate loss, and how to establish a loss period. A sidebar addresses scope-of-coverage issues.

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  • Valuation critical under new M&A rules

    May / June 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 627

    Abstract: Sweeping changes to the accounting rules for mergers and acquisitions (M&A) will start affecting many companies that are closing deals this year. FASB SFAS No. 141(R), Business Combinations, was issued in late 2007, but it applies to deals closing on or after the first day of the first annual reporting period beginning after Dec. 15, 2008. This article explains how many of the changes prescribed in this 358-page document increase the importance of having accurate valuations.

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  • Estate planning – Are valuation discounts in danger?

    May / June 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 399

    Abstract: Concerned about potential abuses of valuation discounts, the Congressional Joint Committee on Taxation (JCT) has proposed certain reforms that would limit the ability of families to take advantage of these discounts for transfer tax purposes under certain circumstances. This article explains one bill in Congress that would incorporate some of the JCT’s recommendations.

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  • It’s not that easy: Determining how costs affect lost profits

    May / June 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 911

    Abstract: Lost profits are a common measure of damages in commercial litigation, and in many cases they’re the only form of recovery that can truly make a plaintiff whole. Establishing the amount of lost profits requires the parties to estimate what the plaintiff would have earned but for the defendant’s alleged misconduct. This article takes a look at a hypothetical example of how lost profits can be determined.

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  • Forensic experts aid e-discovery

    May / June 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 455

    Abstract: In many cases, the most effective method of identifying relevant documents is to conduct keyword searches of a party’s electronically stored information (ESI). This article shows why a forensic expert who understands search techniques and is familiar with the types of documents being sought can be invaluable in this effort.

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  • “Fair value” in a troubled economy

    May / June 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 957

    Abstract: Last year, Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards (SFAS) No. 157 took effect. The statement, entitled Fair Value Measurements, provides guidance on measuring fair value for purposes of several accounting standards, and establishes a “fair value hierarchy” that emphasizes market-based valuation methods. This article explains how it works. A sidebar discusses a few opportunities to explore in this down economy.

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  • Valuations should assume reasonably prudent management

    March / April 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 503

    Abstract: This brief article discusses a recent case that held that a going-concern valuation should assume a business will be managed reasonably prudently going forward, regardless of how poorly it may have been run in the past. Case citation: Cox Enterprises Inc., v. News-Journal Corporation, No. 06-16190 (11th Cir. 12/21/2007).

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  • Constructing a claim for lost productivity damages

    March / April 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 671

    Abstract: Quantifying the cost of lost productivity when a construction project is disrupted through no fault of the contractor is a difficult challenge. An unanticipated disruption of the project typically causes the contractor to work less efficiently, which can lead to additional labor, equipment and material costs. This article explains that appraisers can use several methods when quantifying lost productivity damages, depending on the particular job’s facts and circumstances. The article also notes that lawyers and damages experts need to work together closely to establish lost productivity and measure it appropriately.

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  • Are valuations recyclable?

    March / April 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 896

    Abstract: The paper a valuation report is printed on may be recyclable, but in most cases the content is not. This article points out that recycling valuations poses two major problems: First, the value of a business or other asset can change dramatically over time — in some cases, overnight. Second, a valuator’s methods depend to a large extent on the valuation’s purpose.  The article discusses the problems that can ensue when business owners are tempted to stretch their valuation dollars by using a single valuation for several different purposes.

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  • Measuring the intangible – Valuation issues in health care transactions

    March / April 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1305

    Abstract: In the highly complex and heavily regulated world of health care, business valuations can be particularly challenging. This article looks at a recent U.S. Tax Court decision, Derby v. Commissioner, that illustrates this point. The case involved the sale of a medical group to a not-for-profit health care organization. The group claimed charitable tax deductions resulting from the transaction but the Tax Court denied the deductions, concluding that the physicians were unable to show that the value of what they received was less than the value of what they transferred. The article discusses the ins and outs of the case, noting that the court’s decision demonstrates that valuation in the context of a health care transaction requires a valuator to look at intangible benefits and other relevant terms of the deal. Case citation: Derby v. Commissioner, (T.C. Memo 2008-45).

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  • No time like the present – Discounting future damages

    January / February 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 597

    Abstract: In commercial cases, plaintiffs often recover lost profits they would have earned in the future but for the defendant’s wrongful conduct. In those contexts, experts typically discount future damages to present value. This article explains the importance of recognizing the impact discounting can have on a damage award — and the dangers of overlooking it. The article explains how valuation experts approach their calculations of lost profits damages.

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  • Occupational hazards: An internal fraud update

    January / February 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1149

    Abstract: This brief article highlights some recent trends found in the Report to the Nation on Occupational Fraud & Abuse published in 2008 by the Association of Certified Fraud Examiners (ACFE). These trends include a rise, since 2006, from 5% to 7% in occupational fraud in U.S. organizations. In addition, the report notes that small businesses continue to be more vulnerable to fraud and that the industries most often hit include banking and financial services, government and health care.

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  • What are the options when valuing share-based compensation?

    January / February 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1156

    Abstract: Recently, employee stock options (ESOs) have lost some of their allure as a compensation tool. New mandatory expensing of ESOs highlights the importance of choosing an appropriate option-pricing model as well as the challenge of valuing these options in closely held companies. This article explains that selecting the wrong model can significantly distort stock option value and, therefore, the company’s reported net income. The article points out that the traditional Black-Scholes approach may not adequately reflect outstanding ESOs’ impact on the value of a closely held company.

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