July
2009
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BY
Justin P. Ransome, Vinu Satchit
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Article
One purpose of fixing a value on an interest in a closely held business is to determine gift and estate tax liability. CPAs called upon to provide such valuations know that this can be a painstaking task. It is not an exact science but an educated estimate when, as often is the case, there is no identifiable market for the interest.
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July
2009
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Article
Federal securities class action activity declined in the first half of 2009, according to a report released Monday by the Stanford Law School’s Securities Class Action Clearinghouse and Cornerstone Research. Eightyseven federal securities class actions were filed in the first half of 2009, a 22.3 decline from the 112 filings in both halves of 2008.
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May
2009
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Article
The current economic environment has presented unprecedented circumstances for members of the business valuation profession. Those who perform valuations for financial reporting are grappling with issues surrounding impairment, market capitalization versus fair value determinations, reasonable rates of return, and active versus distressed and inactive markets, to name a few.
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May
2009
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BY
Walter McNairy
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Article
Editor's note This is a sidebar to Valuations for Financial Reporting in Today's Market, May 09. Having never done a valuation, I have an alternative view from the valuation panel participants since I am from the audit and accounting side. I have been working with Dixon Hughes PLLC’s valuation group, which has brought a lot of questions to the forefront.
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May
2009
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Article
Editor's note This is a sidebar to Valuations for Financial Reporting in Today's Market, May 09. At its April 2 meeting, FASB voted to release three new pieces of guidance to address concerns over the application of fair value accounting standards in current market conditions. As a result, FASB said it would issue three related FSPs to clarify the guidance in FASB Statement no.
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May
2009
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Article
The JofA hosted a virtual roundtable discussion with valuation professionals from the financial reporting sector to gauge how they are handling critical valuation issues in today’s climate and what their outlook is for the near future. Excerpts from that discussion were published in the JofA’s May 2009 issue (see “Valuations for Financial Reporting in Today’s Market,” which also includes a brief biography of each panelist).
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May
2009
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Article
Editor's note This is a Webexclusive sidebar for Valuations for Financial Reporting in Today's Market, May 09. The following definitions from the International Glossary of Business Valuation Terms or Glossary of Additional Terms may help readers who are not active business valuation analysts. Standard of Value—the identification of the type of value being used in a specific engagement (for example, fair market value, fair value, investment value).
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April
2009
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BY
Michael H. Brown
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Article
The Tax Court held that the Uniform Standards of Professional Appraisal Practice (USPAP) are not the sole measure of an expert witness’s reliability. The witness had been called upon to provide a value of a conservation easement restricting the use of real property, or “servitude.” Based on that testimony, the court upheld the Service’s denial of the full claimed value of the servitude as a deduction for a charitable contribution.
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April
2009
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Article
Meeting in London, the Group of 20 on Thursday reaffirmed its commitment to strengthening the financial system and again weighed in on accounting issues as it did last November in Washington. The primary communiqué released at the end of Thursday’s summit said the G20 would “call on the accounting standard setters to work urgently with supervisors and regulators to improve standards on valuation and provisioning and achieve a single set of highquality global accounting standards.” The group also issued a Declaration on Strengthening the Financial System that expands the Financial Stability Forum to
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March
2009
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Article
The Institute launched two free, optin enewsletters in January. Financial Planning Digest debuted Jan. 13. On Jan. 20, AICPA members were sent the inaugural issue of Forensic & Valuation Reporter. The newsletters include Links to important stories, culled from hundreds of top news sources. Summaries of research, analysis, videos and relevant articles.
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