Updated with new legal, financial, and compliance material, the Fifth Edition of Valuing a Business presents detailed answers to virtually all valuation questions ranging from executive compensation and lost profits analysis to ESOP issues and valuation discounts. This landmark reference - the most cited on business valuation issues by federal and state courts - also presents a wealth of recent court cases for each valuation area, which together provide a comprehensive overview of all the legal rulings and trends in the field of business valuation. Now in publication for over 25 years, the book’s unsurpassed explanations of all valuation issues have made it the definitive text in the field, against which every other business valuation book is measured.
By Jay E. Fishman, Shannon P. Pratt, and William J. Morrison
This book covers the underlying assumptions in many prominent standards of value, including Fair Market Value, Investment Value, and Fair Value, and analyzes how they are applied in judicial and regulatory settings. The focus of these analyses is on the areas of estate and gift taxation, shareholder dissent and oppression, marital dissolution, and financial reporting.
A Compilation of Articles
This is a compilation of articles written by Dr. Shannon Pratt and originally published in Shannon Pratt's Business Valuation Update® and Judges and Lawyers Business Valuation Update™ newsletters. This publication provides valuable advice and insights from one of the nation's leading business valuation experts. It is an extremely useful reference in any business appraiser's or attorney's library.
By Jay E. Fishman, Shannon P. Pratt, James R. Hitchner and J. Clifford Griffith
This three-volume guide is crucial to understanding business valuation practice. Updated annually, it ensures you have the most current and comprehensive guidance on the latest business valuation issues. It takes you through each step of a valuation engagement and includes a case study of a restaurant valuation to illustrate key concepts.
About 1500 pages
By Shannon P. Pratt, Robert F. Reilly and Robert P. Schweihs
This essential guide takes readers through the valuation process, featuring chapters on valuation for estate plans, employee stock ownership plans, and corporate partnership dissolutions/buyouts.
This publication shows how the market approach relates to the income and asset approaches. It thoroughly describes the theory and methodology of this approach, which is dependent on objective data and is highly favored by the IRS and the U.S. Tax Court. It is the premier way to determine the value of a business or partnership, and with convincing evidence of value for both buyers and sellers, it can end stalemates and get deals closed.
There is often more money in dispute in determining the discounts and premiums in a business valuation than in arriving at the pre-discount valuation itself. Discounts and premiums affect not only the value of the company but also play a crucial role in determining the risk involved, control issues, marketability, contingent liability, and a host of other factors that can make or break a deal. It is essential that every appraiser know when discounts and premiums apply and how to quantify them.
By Shannon P. Pratt and Roger J. Grabowski
Cost of capital estimation has long been recognized as one of the most critical elements in business valuation, capital budgeting, feasibility studies, and corporate finance decisions and is also the most difficult procedure to assess and perform. Now in its fourth edition, Cost of Capital: Applications and Examples addresses the most controversial issues and problems in estimating the cost of capital. Cost of Capital summarizes the results and practical implications of the latest research-much of which is gleaned from unpublished academic working papers-and includes scores of formulas and elucidating examples throughout to enhance readers' insights.
By Shannon P. Pratt and Roger J. Grabowski
The "cost of capital" is the expected rate of return for the purpose of attracting funds, and its estimation has long been recognized as one of the most critical elements in business valuation and damages calculations. Addressing the many different methods of calculating value and different standards of value, Cost of Capital in Litigation delves deeply into the myriad reasons why and how courts may differ in their decisions based on the topic, jurisdiction, or available evidence.
This concise reference book, published by the American Bar Association, helps judges and attorneys understand and evaluate expert reports and testimony on business valuation issues. Dr. Pratt's extensive experience as an expert witness in a wide variety of federal and state courts qualifies him to provide this reference. The book uses clear writing and numerous examples to demystify the basic terminology used by appraisers and the sophisticated financial analysis incorporated in their appraisals. It is conveniently organized and thoroughly indexed to help lawyers and judges evaluate evidentiary issues and the relative strengths and weaknesses of the valuation positions in a case.
This book provides a focused overview of the entire body of knowledge necessary to pass the examination leading to a professional designation in the field of business appraisal. It also serves as a reference and review of the core body of knowledge for those who need a grasp on business valuation even though they might not be seeking a professional designation. It is an extremely useful reference in any business appraiser's or attorney's library.
By Shannon P. Pratt and Judge David Laro (U.S. Tax Court)
Judge David Laro and Dr. Shannon Pratt have combined their knowledge and expertise to provide for the first time in a single text insightful perspective and discussion on critical issues, procedures, and law pertaining to business valuation and taxes. The book includes extensive illustrative excerpts from opinions of all courts that rule on tax cases and the application of the fair market value standard; explanation of S corporation valuation; candid commentary on experts’ strengths and weaknesses; acceptable tabular-presentation approaches; procedural issues, burden of proof, and choice of courts; and other matters related to valuing businesses for tax purposes.
Business Valuation | Mergers & Acquisitions | Gift and Estate Taxes | ESOP Employee Stock Ownership Plans | Damage Actions | Discounts and Premiums | Approaches to Value | Income Approach | Market Approach | Asset Approach | Expert Testimony | Marital Dissolution | Valuation Analyses | Valuation Report Reviews | Arbitrations | Liquidation | Tax Appraisal | Goodwill Valuation | Lost Profits | Intellectual Property | Intangible Assets | Medical Practice Valuation | Mediation | Cost of Capital | Business Appraiser | Fractional Interest | LLC Valuation