Valuing A Business: The Analysis and Appraisal of Closely Held Companies, Fourth Edition

  • 21h 36m
  • Robert F. Reilly, Robert P. Schweihs, Shannon P. Pratt
  • McGraw-Hill
  • 2000

The Business World's Most Accurate and Indispensable Valuation Reference--Updated for a New Century and Business Environment

First published in 1981, Valuing a Business by Shannon P. Pratt, Robert F. Reilly, and Robert P. Schweihs has become today's standard business valuation reference. Look to this substantially revised, completely updated Fourth Edition for in-depth, authoritative coverage that includes:

  • Credentials and Standards
  • Theory and Principles
  • Gathering Company, Industry, and Economic Data
  • Analyzing Financial Statements
  • Business Valuation Approaches and Methods: Income, Market, and Asset-Based
  • Control and Acquisition Premiums
  • Lack of Marketability, Lack of Control, and Other Discounts
  • Writing and Reviewing Valuation Reports
  • Valuing Debt Securities, Preferred Stock, Stock Options, and Pass-Through Securities
  • Valuations for Specific Purposes: Estate and Gift Tax, Buy-Sell Agreements, Income Tax, Employee Stock Ownership Plans, Ad Valorem Taxation, Dissenting Stockholder, Minority Oppression, Marital
  • Dissolution
  • Litigation Support
  • Expert Witness Testimony
  • Arbitration and Mediation

Comprehensive in coverage and authoritative in treatment, Valuing a Business is recognized worldwide as an unquestionable resource for business valuation information. With this updated edition, it maintains its role as the standard reference for defining the methodology of business valuation--for businesses of all sizes--and then arriving at an accurate and supportable estimation of value.

About the Authors

Shannon P. Pratt, DBA, Robert F. Reilly, MBA, and Robert P. Schweihs, MBA, are managing directors of Willamette Management Associates, one of the oldest and largest independent valuation consulting, economic analysis, and financial advisory firms in the country. Dr. Pratt, a chartered financial analyst, fellow of the American Society of Appraisers, and life member of the Institute of Business Appraisers, is also editor-in-chief of the monthly newsletters Shannon Pratt's Business Valuation Update and Judges & Lawyers Business Valuation Update. Mr. Reilly is an accredited senior appraiser (certified in business valuation), certified business appraiser, chartered financial analyst, certified public accountant (accredited in business valuation), certified management accountant, and state-certified affiliate of the Appraisal Institute. He currently serves as an editor and contributor to such professional journals as The American Bankruptcy Institute Journal and The Journal of Property Tax Administration. Mr. Schweihs, an accredited senior appraiser of the American Society of Appraisers (certified in business valuation), is a trustee of The Appraisal Foundation and is a frequent expert witness in valuation court cases and speaker to professional societies. Among them, the three have written or edited numerous professional valuation books, including Valuing Small Businesses and Professional Practices, Valuing Intangible Assets, The Handbook of Advanced Business Valuation, and Judges & Lawyers Business Valuation Handbook.

In this Book

  • Valuing a Business—The Analysis and Appraisal of Closely Held Companies, Fourth Edition
  • Business Valuation Standards and Credentials
  • Defining the Assignment
  • Business Valuation Theory and Principles
  • Gathering Company Data
  • Site Visits
  • Researching Economic and Industry Information
  • Analyzing Financial Statements
  • Financial Statement Ratio Analysis
  • Income Approach: Discounted Future Economic Income Method
  • Income Approach: Capitalized Future Economic Income Method
  • Market Approach: Guideline Publicly Traded Company Method
  • Market Approach: Guideline Merged and Acquired Company Method
  • The Capitalized Excess Earnings Method
  • Asset-Based Approach: Asset Accumulation Method
  •   Control and Acquisition Premiums
  • Discount for Lack of Control
  •   Discounts for Illiquidity and Lack of Marketability
  • Other Valuation Discounts
  • Valuation Synthesis and Conclusion
  • Writing the Business Valuation Report
  • Sample Report
  • Reviewing a Business Valuation Report
  • Valuing Debt Securities
  • Valuing Preferred Stock
  • Valuing Stock Options
  • Pass-Through Entities
  • Valuations for Estate and Gift Tax Purposes
  • Estate and Gift Tax Court Cases
  • Buy-Sell Agreements
  • Valuation for Income Tax Purposes
  • Income Tax Court Cases
  • Valuations for Employee Stock Ownership Plans
  • ESOP Court Cases
  • Valuations for Ad Valorem Taxation
  • Dissenting Stockholder and Minority Oppression Actions
  • Dissenting Stockholder and Minority Oppression Court Cases
  • Valuations for Marital Dissolution Purposes
  • Marital Dissolution Court Cases
  • Litigation Support Services
  • Expert Testimony
  • Arbitration and Mediation
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