The private equity (PE) market (including venture capital, buy-out, mezzanine and similar longer-term, illiquid investments) has expanded exponentially over the past 10 years. U.S. GAAP requires private equity (PE) investments be stated at fair value. Given the nuances inherent in PE, there can be significant challenges in determining the fair
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Management accounting
Alternative Dispute Resolution: Collaborative Law Works
Is having an opponent our way of life? Is litigation an efficient and responsible means of resolving disagreements? Is advocating for a client, to the detriment of the “other” side, acceptable? Or, is there a recipe for peaceful resolution of differences? What if the disagreeing parties agree to engage in
Collaborative Divorce: Better for Everyone
When it comes to divorce, emotions and the desire to be litigious often run high. The toll on a divorcing family is both emotional and financial—and it can be devastating to both children and parents. An alternative to litigation in family breakups is called “collaborative divorce,” a process begun by
Commitments to Private Equity
Note : Includes venture capital, LBO, mezzanine, turnaround and recapitalization-focused funds. Source: Thomson Venture Economics/National Venture Capital Association; Goldman Sachs for 2005 buyout data. Determining fair value requires managers to exercise judgment. While each manager’s judgment may result in different but supportable views on valuation, using common guidelines consistent with
BV Engagement Research
Gathering data is a key element of a business valuation analysis—and you must assemble enough to analyze your subject company from all sides. Client data. Once you’ve gathered the audits, the tax returns, the business descriptions and marketing materials, you will realize—with apologies to Joni Mitchell—that “you’ve looked at the
Discovery: Retrieving Electronic Documents
Electronic evidence often can provide vital information about the activities, motives and intent of individuals and businesses. Electronic documents thought to be deleted or lost by the user often can be recovered. In the case of electronic mail, casual and candid correspondence may be frozen in time. Additionally, the background
Alternative Routes to the ABV
In just a few short years “CPA/ABV” has become synonymous with competent, credible valuation service. The market recognizes practitioners with the credential as leaders in the valuation community. The AICPA’s new ABV Sponsor Program allows CPAs to obtain the ABV credential without taking the ABV examination. The CPA must be
Interviewing Techniques: Tips from the Pros
EXECUTIVE SUMMARY A skillful interview consists of Preparation. Collect information about the job you’re trying to fill; Know what the duties are and what experience, credentials and core competencies are required to fulfill them. Know the type of clients and industries the candidate will be working with so you
A Strategic Player
EXECUTIVE SUMMARY Many companies are raising the expectations for their chief audit executives (CAEs) to include operating at more strategic levels of risk management and corporate governance. Successful CAEs must partner effectively with the audit committee and other members of the senior management team to achieve their objectives. To be
Katrina’s Harsh Lessons.
Those of us who lived through Hurricane Katrina’s devastation in the Gulf states also experienced countless acts of kindness. We want to acknowledge that tremendous outpouring of support. We regret we don’t have the space to recognize individually the thousands of stories of helpfulness and courage. —Grady Hazel, executive director,
Cherry-Picking Sarbanes-Oxley
EXECUTIVE SUMMARY Private companies and charities aren’t required to comply with the Sarbanes-Oxley Act. But they can adopt some of its requirements as best practices. Cherry-picking the provisions that will help them the most means they can get maximum benefit at minimum cost. Among the private entities that might want
What’s in IT for You (and Your Company)?
EXECUTIVE SUMMARY The difficulty of calculating the return on an IT investment often has weakened the case for funding such initiatives. Financial managers and other decision makers expect requests for IT funding to be framed in an ROI or shareholder value format so they can compare them with other
Section 404 for Small Caps
EXECUTIVE SUMMARY In 2005 about 3,700 large-cap ($75 million or more) companies underwent the first wave of Sarbanes-Oxley section 404 audits. Here, a firm experienced with Sarbanes-Oxley section 404 audits for accelerated filers shares its best practices to help with compliance for nonaccelerated filers (companies with market capitalization under $75
Taking Care of Small Business
The Institute’s vice-president for small firm interests describes AICPA programs for small firms and their small business clients. mall businesses—the fastest-growing sector of the U.S. economy—rely on their CPAs for business advice, making them a core practice area for many practitioners. In recognition of this important relationship, the AICPA provides
Manage Your Risks
Risk management can be an intimidating and complex undertaking, but as a company leader you can’t just ignore your company’s vulnerabilities. Save yourself some sleepless nights by avoiding these common mistakes: Failing to understand the consequences and long-term business impact of risk. Half of all businesses that suffer a catastrophe
Smart Stops on the Web
SOX/B&I SITES Brush Up on Compliance http://cpcaf.aicpa.org/Resources/Sarbanes+Oxley/ The+Changing+Regulatory+Landscape.htm CPAs and compliance officers can find background documentation, guidance and tools for implementing the Sarbanes-Oxley Act of 2002 here. Looking for related CPE credit? Follow the link to the CPA2Biz.com store for a CD-ROM webcast. Or read the full text of the
When the Boss Trumps Internal Controls
hen a college was so broke it couldn’t even afford copy paper, toner and other inexpensive supplies, it took some sleuthing to find the reason. This article summarizes the heroic efforts of one CPA, without pay or outside staff (or experience in fraud detection), who helped bring down a powerful
Financial Management Web Site Opens
he AICPA is committed to supporting its members in business and industry, and therefore, the Financial Management Center has been created with the needs of these members in mind. Financial executives’ and financial managers’ responsibilities are vast and cannot be neatly described through titles. Human resources issues, corporate governance, organization
Oh, the Places You’ll Go!
‘‘If a census of business houses could be taken, it would probably be discovered that 90% of the business men of the United States have never employed a public accountant and have no idea that such a man could be of any service to them except possibly in case of
Take a Seat in the Boardroom
CPAs are beginning to see some familiar faces in corporate boardrooms—including their own. Until recently, most boards were made up largely of CEOs of other organizations. In the past few years though, board members’ backgrounds have become more diverse, and more CPAs are serving as directors, in part because of
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
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