Valuation/Lit. sup./Fraud/M&A

Showing 1297–1312 of 1413 results

  • Financial statement analysis – Don’t value a business without it

    January / February 2009
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 708

    Abstract: Merely accepting a company’s financial statements at face value can lead to seriously undervaluing or, more likely, overvaluing a business. Often, closely held companies fail to comply with GAAP, and financial data may be shaped to favor the owner’s interests. This article explains how experts review several years of financial statements and make normalizing adjustments such as removing nonrecurring items and adjusting expenses that a potential buyer wouldn’t likely incur. They also look for suspicious trends and relationships.

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  • Discounting future losses for lost profits

    January / February 2009
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1042

    Abstract: In many business litigation cases, financial experts must project damages for losses that the plaintiff will incur in the future because of the injury involved. Discounted future losses represent the amount of compensation needed now to replace that future lost income. But, as this article discusses, losses in a litigation context are different from the lost income that comes up in business valuation situations, requiring an expert to calculate a discount rate based on relevant risks.

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  • Ask the Advisor – Q. Does my private company need to comply with any SOX provisions?

    Year End 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 477

    Abstract: This column explains how private companies can benefit from adopting Sarbanes-Oxley (SOX) provisions — particularly if they expect their business to be acquired by a public company. SOX adherence makes sellers more attractive to public company buyers, which can result in a higher sale price. Compliance with SOX can also improve a company’s image and reputation with investors, lenders and the public by demonstrating it has nothing to hide.

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  • A sprint and a marathon – How dual-purpose integration supports short- and long-term goals

    Year End 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 729

    Abstract: Sometimes M&A dealmakers focus too much on the first few months of postclosing integration and neglect to plan for the long-term success of a deal. But as this article argues, dual-purpose integration plans that are closely coordinated, yet have distinct purposes, help to immediately secure deal benefits as well as set the merged organization on the path to future success.

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  • Cross-border M&As – Don’t let people power become people problems

    Year End 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 843

    Abstract: Managing the legal, financial and operational details of any acquisition can be arduous, and that’s doubly true of foreign transactions. But among the greatest challenges cross-border buyers face are the “people” issues — including cultural differences and local labor laws and regulations. This article discusses strategies for coping with human resource issues that could trip up a deal.

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  • Get smart about intellectual property

    Year End 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 917

    Abstract: Intellectual property (IP) is a central, even defining, asset for many companies, and some M&A deals hinge on gaining access to IP assets such as patents, copyrights, trademarks and trade secrets. This article tells sellers how to prepare IP for buyer scrutiny — including being ready to demonstrate legal rights to this intangible property. And it instructs buyers to perform careful due diligence so that they can be sure they’ll get what they’re paying for.

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  • Unemployment compensation – Calculating damages for lost earnings

    November / December 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 858

    Abstract: At first glance, calculating lost earnings damages may appear simple, but in many cases it’s deceptively complex. This article discusses how a valuation expert estimates these damages and notes the many factors he or she considers in establishing or opposing lost earnings damages. The article points out that experience and expertise are key to ensuring all the bases are covered.

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  • FLP and FLLC updates – Taxpayers enjoy some important victories

    November / December 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 882

    Abstract: Family limited partnerships (FLPs) and family limited liability companies (FLLCs) have long been popular business and estate planning vehicles for transferring minority interests. The IRS has frequently challenged these vehicles. But two recent cases have shown that properly structured FLPs and FLLCs can withstand IRS scrutiny. This article summarizes these two cases, Estate of Mirowski and Astleford v. Commissioner, which provide valuable guidance on the type of facts that can support a taxpayer’s position.

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  • Valuing IP assets: A team approach

    November / December 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 373

    Abstract: IP rights — especially patents and copyrights — encourage innovation and creative pursuits by giving owners exclusive rights to exploit the economic benefits of their work for a specific period of time. This brief article explains how valuators estimate an asset’s remaining useful life by studying the historical life cycles of comparable IP assets.

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  • It ain’t over ’til it’s over – Postclosing disputes in M&A transactions

    November / December 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1200

    Abstract: Mergers and acquisitions (M&As) are complicated transactions, and getting from letter of intent to closing takes time — sometimes several months or longer. During that time, things can — and usually do — change, leading to potential disputes concerning the purchase price or the target company’s financial position. This article explains the types of disputes that can arise and the covenants used to address potential conflicts. The article shows how bringing financial experts in early can help avert disputes or resolve matters to help the deal go through without a hitch. (Updated 8/29/12)

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  • A closer look at rebuttal reports

    November / December 2008
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 429

    Abstract: Valuators don’t generate a full-blown valuation report for every valuation assignment. Sometimes a rebuttal report will suffice. This brief article summarizes a few scenarios in which a rebuttal report might come in handy, including in unearthing discrepancies and preparing for trial.

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  • Valuators can help smooth the rocky terrain of divorce

    November / December 2008
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 968

    Abstract: Early involvement of financial experts in marital dissolution matters facilitates the discovery process. It encourages information sharing and helps resolve financial settlements. This article uses a fictional case study to illustrate the ways financial experts can help throughout the divorce process from discovery to settlement.

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  • Discounted cash flow basics — A bird in the hand is worth two in the bush

    November / December 2008
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1020

    Abstract: Valuators use discounted cash flow (DCF) analysis when applying the income approach, which derives value from anticipated future earnings. A key component of any DCF analysis is the discount rate, which is the rate of return used to convert a future monetary sum into its present value. This article describes the ins and outs of discount rates and how valuators support these rates with market data and credible methodology.

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  • No discounts allowed – Court applies standard to shareholder oppression case

    November / December 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 810

    Abstract: Discounts for lack of control and marketability generally aren’t applied when valuing interests in the context of a shareholder dissent case. But, in Edler v. Edler, a Wisconsin court recently extended the principle to a shareholder oppression case, and as a result based the plaintiff’s award on the fair value of the corporation. This article summarizes the facts and findings of the case and discusses the implications.

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  • Tax Court calculates its own values in FLP case

    November / December 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1031

    Abstract: In recent years, the U.S. Tax Court has heard its share of cases challenging the legitimacy of family limited partnerships (FLPs). In early 2008, though, it was presented with an FLP case in which the IRS merely challenged the taxpayer’s valuation. The court in Astleford v. Commissioner ultimately decided to pick and choose from the opposing experts’ conclusions to calculate its own values. This article explains how the court arrived at its numbers and what it could mean for taxpayers.

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  • E-discovery – Structured data calls for specialist attention

    November / December 2008
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 849

    Abstract: Some attorneys have learned the hard way that e-discovery often means gathering and analyzing millions of bytes of information. Although much attention has been focused on discovery of “unstructured data” such as e-mail and documents, e-discovery also encompasses “structured data,” a category that includes human resource system and enterprise resource planning data. As this article argues, proper retrieval and handling of structured data differs from that associated with unstructured data sources and usually requires the assistance of a specialist.

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