Practical valuation exercises with real-world application and expert insightFinancial Valuation Workbook cuts the learning curve in half, with practical training for use with any valuation textbook. Packed with tools, resources, and over 300 exercises, this book helps novices get a handle on the complex valuation process, while helping more experienced practitioners organize their engagements. Checklists, flowcharts, reports, information requests, and other resources help streamline the workflow and ensure thorough review, while in-depth coverage places the complexities of the field front-and-center. This new fourth edition features a brand new expanded case study for real-world insight, accompanied by exercises with explanations that deepen the learning process. Expert tips are highlighted throughout to provide additional insight in specific situations, and exercises from basic to advanced map to established training processes.
Valuation is as an art, as well as a science, and simply reading a textbook only goes halfway toward true learningapplying what you learn is critical. This book provides hands-on practice alongside useful tools and valuable insight to help solidify your understanding of the many facets of this complex field.Delve into the intricacies of valuation with a new expanded case study and expert tipsFollow checklists and flowcharts for each phase of the valuation processUse reports, information requests, and other tools that help organize your workflowTest your understanding with over 300 exercises organized by major area
Organized into standard, recognized, and easily identified sections that lend themselves to quick refreshers as well as start-to-finish study, this book is a truly useful resource for beginner and veteran alike. Whether you're learning valuation for the first time or simply need guidance on an unfamiliar situation,Financial Valuation Workbook provides a key resource for any business valuation professional.
Preface ix
Acknowledgments xi
About the Author xiii
Chapter 1 Valuation Case Study Exercises 1
1.14 Addendum: Discount Case Study Exercises 91
Chapter 2 Valuation Case Study Exercises: Solutions and Explanations 95
2.1 Addendum: Discount Case Study Exercises 131
Chapter 3 Financial Valuation Applications and Models Companion Exercises and Test Questions 133
Answer Grid 178
Chapter 4 ValTips 189
Chapter 5 Income Approach Valuation Process Flowchart 233
Chapter 6 Marketing, Managing, and Making Money in Valuation Services 243
Chapter 7 Practice Management Workflow Procedures 269
Chapter 8 Checklists 323
8.1 Business Valuation or Real Estate Appraisal?
8.2 Key Information Requirements
8.3 Industry Research Form
8.4 IRS BV Guidelines Checklist, Internal Revenue Service, Engineering Program, Business Valuation Guidelines 4.48.4
8.5 Valuation Information Request (VIR) General
8.6 Valuation Information Request (VIR) Bank/Holding Company
8.7 Valuation Information Request (VIR) Eminent Domain
8.8 Valuation Information Request (VIR) Gas and Oil Rights
8.9 Valuation Information Request (VIR) High-Tech Business
8.10 Valuation Information Request (VIR) Professional Practice
8.11 Valuation Information Request (VIR) Medical Practice
8.12 Valuation Information Request (VIR) Construction Industry
8.13 Management InterviewOperations
8.14 Management InterviewFinancial Review
8.15 Management InterviewInsurance Agency
8.16 Management InterviewProfessional Practice
8.17 Management InterviewMedical Practice
8.18 Management InterviewConstruction Industry
8.19 Management InterviewLaw Practice
8.20 Management InterviewAccounting Practice
8.21 Valuation Information Request (VIR) Copyrights
8.22 Valuation Information Request (VIR) Customer Relationships
8.23 Valuation Information Request (VIR) In-Process Research and Development
8.24 Valuation Information Request (VIR) Know-How
8.25 Valuation Information Request (VIR) Patents
8.26 Valuation Information Request (VIR) Software
8.27 Valuation Information Request (VIR) Proprietary Process/Products Technology
8.28 Valuation Information Request (VIR) Trademark/Trade Name
8.29 Procedures for the Valuation of Intangible Assets
8.30 Royalty Factors
8.31 Management InterviewPatent Valuation
8.32 Management InterviewReasonable Compensation
8.33 Reasonable Compensation: Additional Discussion Questions
8.34 Revenue Ruling 59-60: Valuation Checklist
8.35 Revenue Ruling 77-287: Valuation Checklist
8.36 Revenue Ruling 93-12: Valuation Checklist
8.39 SSVS VS Section 100 Compliance ChecklistDetailed Report (Valuation Engagement)
8.40 Review ChecklistEminent Domain
8.41 Non-Appraisers Guide to Reviewing Business Valuation Reports
8.42 Auditor Review of Valuation for Financial Reporting
8.43 Fair Value Measurement Checklist
About the Website 445
Index 447
