2009
Showing 65–80 of 678 results
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SBA tightens business acquisition lending requirements
November / December 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 516
Abstract: This brief article summarizes a recent SBA move to rein in lenient lending practices to small businesses: SBA Standard Operating Procedure (SOP) 50 10 5(A). The new requirement calls on business acquisition loan applicants to submit an independent business appraisal for all loans greater than $250,000 (excluding the appraised value of real estate and equipment). The article explains that the SBA defines a “qualified source” for the independent appraisal as someone who regularly receives compensation for business valuation. It also notes the controversy resulting from restrictions the SBA has placed on loans based on a company’s goodwill.
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One price doesn’t fit all — Making sense of valuation discounts
November / December 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 847
Abstract: Valuation is based on the specific facts and circumstances of a situation. If the controlling interest and all the minority interests are valued separately, they may add up to more or less than what could be received if the company were sold as a whole. This article discusses the types of valuation discounts that may affect value, including minority interest and lack of marketability discounts. It explains the importance of the degree of control represented by a block of stock and uses a hypothetical case study to illustrate the way discounts actually work in the real world. The article points out that a qualified appraiser can find well-supported discounts that will withstand IRS scrutiny.
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Knowing value is half the battle
November / December 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 721
Abstract: While baby boomers nationwide are considering selling their businesses in preparation for retirement, a majority of them haven’t had their businesses appraised by a valuation professional within the last year. This article looks at a business’s value drivers — and value drainers — listing several key factors investors look for when valuing a business interest, including profits and cash flow, competent asset management and reinvestment in research and development. The article explains that an objective valuator can help business owners find ways to minimize risks and maximize selling price when it’s time to retire.
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Built-in capital gains tax can be a real drag
November / December 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 851
Abstract: Capital gains tax obligations can significantly affect value, especially for an established holding company with low cost basis. Even if a sale isn’t imminent, investors consider tax obligations when buying and selling business interests. This article notes that courts increasingly embrace valuation discounts for built-in capital gains tax, using a case study to illustrate the point that it’s not so much whether capital gains tax affects value but how to quantify the discount. Because the IRS and the Tax Court haven’t agreed on the proper method for quantifying the discount, it’s even more important that the discount be well supported by facts and legal precedent.
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New data sheds light on Daubert challenges
November / December 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 537
Abstract: Recent PricewaterhouseCoopers data shows an increase in the number of Daubert challenges and reveals some of the factors critical to the outcomes in financial expert testimony challenges. Research found that lack of reliability was the leading cause of a financial expert opinion being excluded, but jurisdiction can also play a role.
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Lost profits damages – The trouble with start-ups and never-started-at-alls
November / December 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 750
Abstract: When calculating lost profits damages for businesses involved in litigation, damages experts can use the company’s historic financial statements to make their projections — if the business has a history. However, calculating damages for early-stage and never-launched businesses requires a different set of analytical tools if experts are to prove to a court’s satisfaction that their damages estimates are reasonably certain. This includes economic and financial data for the subject company, but also market data.
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Secrets behind securities fraud
November / December 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 637
Abstract: Growing numbers of individuals, entities and institutions have poured into the securities and commodities markets in recent years. Increased participation has, in turn, led to increased opportunities for — and incidents of — fraud. Particular schemes to look out for are Ponzi and pyramid schemes, along with “pump and dump” scams that fraudulently inflate stock prices.
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Putting a price on intangibles – Intellectual property requires valuation smarts
November / December 2009
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 776
Abstract: Intellectual property such as patents, copyrights and trademarks can present some of the most difficult business valuation challenges. The American Society of Appraisers has recognized this by issuing a standard for valuing such intangible assets. The standard, known as BVS-IX, Intangible Asset Valuation, gives attorneys an idea of what to expect from their valuation experts and provides a baseline for evaluating the work of opposing experts. This article takes a look at factors appraisers consider when valuing intangible, while a sidebar lists some specific valuation factors addressed by the standard.
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Practice builders – Don’t let marketing fall by the wayside
Fall 2009
Newsletter: Rx for Practice Management / Practice Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 420
Abstract: In the current economic climate, some private practice physicians may be tempted to cast their marketing efforts aside in order to save a dollar. It’s a bad idea. Rather than drop marketing, it’s important to become more creative at it. This involves gaining an understanding of the market in which one competes; choosing the best medium to appeal to that market; and synchronizing various marketing efforts with each other and with what is going on in the practice through annual, quarterly and monthly action plans.
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Medical practice management 101 – How to assess financial health
Fall 2009
Newsletter: Rx for Practice Management / Practice Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 704
Abstract: Most often, it’s assessing the financial health of their practice that eludes many physicians. Timely, accurate financial reports can be invaluable tools for assessing a practice’s financial health. Different reports used on a daily, weekly and monthly basis provide vital information for day-to-day management of a practice. Each kind of report offers different information that’s important to financial analysis. But good old-fashioned budgeting is also crucial.
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Developing a hospitalist service offering
Fall 2009
Newsletter: Rx for Practice Management / Practice Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 568
Abstract: The services that hospitalists perform have become so popular that the number of hospitalists is expected to reach 30,000 by the end of the decade. Entrepreneurial physician practices seeking to develop new revenue streams should consider developing a hospitalist services subsidiary. This separate entity would employ the hospitalists. But it’s important for a hospital to understand in advance how the subsidiary works and how to prepare a hospitalist for service, and ensure that both the hospital and hospitalists are in agreement on performance variables and how they will be measured.
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Electronic dashboards – The latest gadget for measuring practice performance
Fall 2009
Newsletter: Rx for Practice Management / Practice Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 818
Abstract: There’s a new tool that many physicians are finding superior to traditional financial statements — the electronic dashboard. Why are dashboards important? They’re designed to make financial indicators more comprehensible to physicians. In fact, they can be effective tools for engaging all staff members in reducing overhead and increasing profits. This article describes how electronic dashboards work, how to get started employing one, and what features to include. A sidebar looks at the costs of implementing a dashboard, whether in-house or through a third party.
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Newsbits – Fasb actions carry impact
Fall 2009
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 438
Abstract: This issue’s “Newsbits” concentrates on just one topic: three recent actions by the Financial Accounting Standards Board (FASB) that could affect a nonprofit’s financial statement preparation this year and beyond.
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Software solutions can be affordable
Fall 2009
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 859
Abstract: It may seem harder than ever for a not-for-profit to budget for computer software that will bring it into the next decade. After all, its leaders want to update and expand, take advantage of new features on the market and adequately protect their computer system from outside threats. But there is a way to find effective, inexpensive software solutions, including low-cost and no-cost options for creating, sharing, backing up and restoring original and PDF files, and protecting the organization from cyber-threats. This article lists specific examples of available software.
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Settlement shines spotlight on donor intent
Fall 2009
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 833
Abstract: Last year, Princeton University reached a $101 million settlement with a donor foundation that had asserted that the university spent the donor’s funds in a manner contrary to its original intent. A number of similar disputes have erupted over the last several years that highlight a major dilemma for charities: They must act as loyal stewards of donated funds while maintaining proper authority over them. This article lists several specific steps a nonprofit can take to avoid conflicts, and offers a sidebar listing gift-acceptance guidelines.
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Rainy days – Viewing operating reserves in the current economy
Fall 2009
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 422
Abstract: A lot of nonprofits are seeing less revenue coming in coupled with greater demand for their services. As a result, they’re struggling to cover expenses and are dipping into their operating reserves. But before a nonprofit taps further into its nest egg, it should consider the purpose, nature and limits of these unrestricted funds. Different organizations will need different amounts of reserves, but everyone should have a “Plan B” that identifies additional cuts that can allow quick action if the current downturn lasts longer than anticipated.