Valuing a Business, 5th Edition The Analysis and Appraisal of Closely Held Companies

by Pratt, Shannon

• ISBN13: 9780071441803
• ISBN10: 0071441808
• Edition: 5th
• Format: Hardcover
• Copyright: 2008-01-11
• Publisher: McGraw Hill

Summary

More than 30 percent all-new material Features new information on legal and accounting issues as well as explanations of new case law Presents new guidelines for valuing executive compensation and ESOPs

Author Biography

Shannon Pratt,C.F.A. is founder and managingdirector of Willamette Management Associates. He makes frequentappearances in the media and at industry events and conferences.

Table of Contents

State of the Profession, the Engagement, and the Basic Theory	p. 1
Business Valuation Standards and Credentials	p. 3
Defining the Assignment	p. 29
Business Valuation Theory and Principles	p. 55
Gathering and Analyzing Data	p. 73
Gathering Company Data	p. 75
Site Visits and Interviews	p. 91
Researching Economic and Industry Information	p. 103
Analyzing Financial Statements	p. 129
Financial Statement Ratio Analysis	p. 153
Business Valuation Approaches and Methods	p. 171
Income Approach: Discounted Future Economic Income Method	p. 173
Income Approach: Capitalized Economic Income Method	p. 237
Market Approach: Guideline Publicly Traded Company Method	p. 261
Market Approach: Guideline Merged and Acquired Company Method	p. 309
The Capitalized Excess Earnings Method	p. 331
Asset-Based Approach: Asset Accumulation Method	p. 349
Discounts, Premiums, and the Value Conclusion	p. 381
Control and Acquisition Premiums	p. 383
Discount for Lack of Control	p. 397
Discounts for Illiquidity and Lack of Marketability	p. 415
Other Valuation Discounts	p. 459
Valuation Synthesis and Conclusion	p. 471
Writing and Reviewing Business Valuation Reports	p. 483
Writing the Business Valuation Report	p. 485
Sample Report	p. 501
Reviewing a Business Valuation Report	p. 535
Valuing Specific Securities and Interests	p. 545
Valuing Debt Securities	p. 547
Valuing Preferred Stock	p. 563
Introduction to Valuing Stock Options	p. 585
Valuing S Corporation Stock and Interests in Other Pass-Through Entities	p. 613
Valuations for Specific Purposes	p. 625
Valuations for Gift and Estate Tax Purposes	p. 627
Estate and Gift Tax Court Cases	p. 661
Buy-Sell Agreements	p. 707
Valuation for Income Tax Purposes	p. 723
Income Tax Court Cases	p. 753
Valuations for Employee Stock Ownership Plans	p. 809
ESOP Court Cases	p. 837
Valuations for Ad Valorem Taxation	p. 873
Dissenting Stockholder and Minority Oppression Actions	p. 905
Dissenting Stockholder and Minority Oppression Court Cases	p. 915
Valuations for Marital Dissolution Purposes	p. 943
Marital Dissolution Court Cases	p. 963
Fair Value for Financial Reporting	p. 1005
Litigation and Dispute Resolution	p. 1009
Litigation Support Services	p. 1011
Expert Testimony	p. 1031
Arbitration and Mediation	p. 1053
International Glossary of Business Valuation Terms	p. 1069
Index	p. 1077
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