Financial Valuation: Applications and Models, Second Edition

  • 28h 11m
  • James R. Hitchner (ed)
  • John Wiley & Sons (US)
  • 2006

Filled with a wealth of detail, practice tips, and examples, Financial Valuation: Applications and Models brings together thirty nationally recognized names in the valuation industry hailing from a variety of professional specializations—including accounting, business appraisal, and financial analysis—to provide practitioners with an indispensable reference on various valuation issues. Assembled by valuation authority James Hitchner, these contributors analyze, explain, and collaborate on the most effective valuation procedures to share real-world applications in the field of financial valuation.

Presented in an easily understandable manner, the Second Edition contains numerous models and methods that assist the reader in navigating a valuation project, along with hundreds of brief and straightforward "ValTips," discussing essential and often controversial issues. Extensively rewritten, this groundbreaking book widens its focus with:

  • The "definitive" chapter on valuing pass-through entities including the presentation of four new models
  • Expanded discussion on the use of Ibbotson data including size risk premiums, the supply side model, and industry risk premiums
  • A new discussion on the use of the Duff & Phelps risk premium data
  • A new chapter on value consulting and company analysis using the concept of strategic benchmarking for value
  • Updates on the latest in valuations for financial reporting
  • A new "Special Industry Valuations" chapter presenting detailed information on valuing businesses in such industries as restaurants, bars, cable television, radio, and construction

Comprehensive in coverage and authoritative in treatment, James Hitchner's Financial Valuation provides trusted, complete business valuation information for CPAs, appraisers, analysts, attorneys, and corporate executives.

About the Editor

James R. Hitchner, CPA/ABV, ASA is the managing director of the Financial Valuation Group (FVG) in Atlanta, Georgia. FVG is a national financial advisory services firm specializing in valuation and litigation services. Mr. Hitchner is a founding member and current president of the Financial Consulting Group, LC (FCG), a national association of professional services firms dedicated to excellence in valuation, financial and litigation consulting.

Mr. Hitchner has more than 28 years of professional experience, including 26 years in valuation services and two years in real estate development. He was with Phillips Hitchner Group, Inc. for seven years and was also partner-in-charge of valuation services for the southern region of Coopers & Lybrand (currently PricewaterhouseCoopers), where he spent more than nine years. He was also employed as a senior appraiser with the national appraisal firm American Appraisal Associates, in both the financial and industrial valuation groups.

Mr. Hitchner is coauthor of the book Valuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis—SFAS 141 and 142, editor/coauthor of the book Financial Valuation: Applications and Models; and coauthor of the book Financial Valuation Workbook, all published by John Wiley & Sons. He is coauthor of the American Institute of Certified Public Accountants (AICPA) three-part self-study video course series on SFAS 141 and 142 on business combinations, intangible assets, and goodwill impairment. He is editor in chief of Financial Valuation and Litigation Expert, a bimonthly journal that presents views and tools from some of the leading experts in valuation, forensics/fraud, and litigation services.

In this Book

  • Introduction to Financial Valuation
  • Research and Its Presentation
  • Financial Statement and Company Risk Analysis
  • Income Approach
  • Cost of Capital/Rates of Return
  • Market Approach
  • Asset Approach
  • Valuation Discounts and Premiums
  • Report Writing
  • Business Valuation Standards
  • Valuation of Pass-Through Entities
  • Estate, Gift, and Income Tax Valuations—Selected Internal Revenue Code Provisions, Treasury Regulations, and Revenue Rulings
  • Valuation of Family Limited Partnerships
  • Summary of Court Case Issues
  • Shareholder Disputes
  • Valuation Issues in Employee Stock Ownership Plans
  • Valuation in the Divorce Setting
  • Valuation Issues in Small Businesses
  • Valuation Issues in Professional Practices
  • Strategic Benchmarking for Value—Qualitative Assessment and Performance Measurement as Value Drivers (Advanced Company Analysis)
  • Valuation of Intangible Assets
  • Marketing, Managing, and Making Money in a Valuation Services Group
  • Business Damages
  • Other Valuation Services Areas
  • Valuation of Healthcare Service Businesses
  • Special Industry Valuations
  • Valuation Views and Controversial Issues—An Illustration