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EXECUTIVE SUMMARY A CPA/VALUATOR PLAYS A PIVOTAL ROLE in merger and acquisition (M&A) engagements. He or she helps to organize the transaction, mitigate trouble spots, establish an objective marketplace value for a client’s business and structure the deal along with attorneys, appraisers, bankers, financiers and regulators. A BUYER’S VALUATOR enters
EXECUTIVE SUMMARY CPAs NEED TO BE MINDFUL of ethical issues in performing client services. They must be sensitive to public perceptions and expectations and must use informed judgment as well as adhere to professional standards. THREE OF THE MOST COMMON COMPLAINTS made against small to midsize CPA firms involve failure
BUSINESS VALUATION Valuators must use a broad picture approach. Taking the Temperature of Health Care Valuations BY LOREN GARRUTO AND OLIVER LOUD EXECUTIVE SUMMARY THE HEALTH CARE INDUSTRY HAS UNDERGONE significant change over the last decade, affecting delivery of services, payment mechanisms and providers organizational structure. Throughout a companys lifecycle,
EXECUTIVE SUMMARY THE HEALTH CARE INDUSTRY HAS UNDERGONE significant change over the last decade, affecting delivery of services, payment mechanisms and providers’ organizational structure. Throughout a company’s lifecycle, certain events or business necessities—such as ownership transition, compliance with legal and regulatory issues and strategic planning—may require an independent appraisal of
Articles of Interest www.bvs-inc.com The Business Valuation Services site offers more than two dozen articles, with titles such as “A Lender’s Business Valuation Option,” “Alphabet Soup: Making Sense of Professional Designations” and “Mediating Valuation Differences.” Advice From AmEx [No www designation is required to access this site.] home3.americanexpress.com/smallbusiness//resources/starting/valbiz.shtml On this
EXECUTIVE SUMMARY INCREASED ACTIVITY IN ESTATE and succession planning and mergers or acquisitions involving small to midsize businesses has fueled demand for business valuation (BV) services. BV malpractice claims arise most often from a tax planning or consulting engagement that—at the client’s request—morphs into a BV in mid-transaction. THE PREDOMINANT
SEPTEMBER 2000 VOLUME 190, NUMBER 3 Editorial Staff Publisher/Editor-in-Chief Colleen Katz Executive Editor Barbara J. Shildneck Managing Editor Elizabeth Uva Senior Editors Katharine W. Coveleski Peter D. Fleming Michael Hayes Raj Rangarajan Robert Tie Cynthia Waller Vallario Stanley Zarowin Assistant Editors Sarah Cobb Vincent Nolan Contributing Editors Maria Luzarraga Albanese
AUDITING Proposed revisions to SSARS no. 1 make some bold changes. A New Approach to COMPILATIONS BY DIANE S. CONANT AND J. RUSSELL MADRAY EXECUTIVE SUMMARY THE AICPA ACCOUNTING AND REVIEW SERVICES committee issued a proposed revision of SSARS no. 1, Compilation and Review of Financial Statements, in December 1999.
SSARS ED Issued on Business Valuation Financial Statements The accounting and review services committee issued in late December a proposed Statement on Standards for Accounting and Review Services (SSARS) titled Financial Statements Included in Written Business Valuations. The proposed SSARS exempts “normalized financial statements”—which it defines—and historical financial statements from
PRACTICE DEVELOPMENT/BUSINESS VALUATION Skills you need to value businesses. Is Business Appraising For You? BY ELIZABETH DANZIGER EXECUTIVE SUMMARY BV IS A VERY CHALLENGING BUSINESS that requires an unusual set of skills. CPAs SUCCESSFUL AT OFFERING BV tend to: — Function well under intense pressure. — Communicate well, both orally
EXECUTIVE SUMMARY BV IS A VERY CHALLENGING BUSINESS that requires an unusual set of skills. CPAs SUCCESSFUL AT OFFERING BV tend to: — Function well under intense pressure. — Communicate well, both orally and in writing. — Integrate quantitative and subjective data coherently. — Be unfazed by ambiguity and uncertainty.
Online Articles Add Value www.businessvalue.com Banister Financial, Inc.’s site offers articles from Fair Value, the company’s business valuation newsletter. Click on the article library banner for such topics as family limited partnership valuations, employee stock ownership plans and key business valuation trends. A Source for Resources www.instbusapp.org The Institute of
EXECUTIVE SUMMARY FOLLOWING BASIC TENETS will provide business appraisers in both industry and public practice enhanced understanding and skills to comply with business valuation standards. FIRST, FULLY UNDERSTAND THE NATURE of each BV assignment. CPAs WHO OFFER BV MUST CONFORM with several standards on professional competence, due professional care, planning
FEBRUARY 2000 VOLUME 189, NUMBER 2 Editorial Staff Publisher/Editor-in-Chief Colleen Katz Executive Editor Barbara J. Shildneck Managing Editor Elizabeth Uva Senior Editors Katharine W. Coveleski Peter D. Fleming John von Brachel Michael Hayes Emily S. Plishner Stanley Zarowin Senior News Editor Robert Tie Associate News Editor Mavis C. Allen Assistant
July 1999 Vol. 188 No. 1 Highlights Publisher/Editor-in-Chief Colleen Katz ExecutiveEditor Barbara J. Shildneck Managing Editor Elizabeth Uva Senior Editors Katharine W. Coveleski Peter D. Fleming John von Brachel Michael Hayes Emily S. Plishner Stanley Zarowin Senior News Editor Robert Tie Associate News Editor Mavis C. Allen Assistant Editors Sarah
A Journal Survey About a generation ago, the only tools an accountant used were a hand-cranked calculator, a columnar pad and a sharp pencil. In those days, an electric pencil sharpener was considered a high-tech accessory. Today, you probably wont find any of those tools in an accountants office—except maybe
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