Michael B. Lehner, CPA/ABV, CFE, ASA
May 20, 2015
business valuation

An additional opinion can help resolve business valuation disputes

Even two unbiased, equally qualified valuation professionals applying sound appraisal practices are unlikely to arrive at exactly the same number. In fact, valuation differences of 10% or more are common — even under ideal circumstances. In litigation, when neither valuator will concede an objective third expert can help settle the dispute. This article discusses third expert selection and uses a hypothetical case to illustrate the important role a third expert can play.
May 20, 2015
business valuation experts accounting

Why business valuation experts need accounting know-how

Accounting and appraisal are interrelated disciplines. After all, financial statements are the foundation for valuing a business. So it’s imperative that business valuation experts understand accounting terminology and how to adjust for material differences in accounting methods.
May 20, 2015
business valuation

In business valuation, “normal” matters

Typically, the starting point for measuring a company’s earning power is its financial statements and other documents that reflect historic financial performance. But often, these documents contain entries that can distort a company’s true earning potential. For this reason, valuation experts often adjust a company’s financial statements to provide a picture of its financial performance under “normal” conditions. This article looks at three common areas of adjustment and explains the circumstances under which a normalization adjustment is appropriate.
May 18, 2015
valuation date

Why the valuation date is so critical

Business valuation experts are prepared for a number of reasons: estate planning, divorce settlements and shareholder litigation, just to name a few. And while the parties in these various matters may focus solely on the valuation amount, a valuation expert will also be focusing on the valuation date. This article explains why, under certain circumstances, an executor may elect to use an “alternate valuation date” rather than one that’s customarily used.