Business Valuations: Fundamentals, Techniques, and Theory

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A practitioner’s how-to-do-it guide to valuing privately held business, containing the principles relied on by the credential holders and members of the National Association of Certified Valuators and Analysts® (NACVA®) Business Valuation: Fundamentals, Techniques, and Theory is a modern business valuation treatise, a practice-ready blueprint for valuation and forensic analysts, educators, and students working to determine, defend, and maximize company value in today’s complex business environment. At the core of the textbook is the Valuation Process Pyramid, a conceptual road map that skillfully guides readers from defining the purpose of a valuation through analysis and application of methods, ultimately reinforcing that analysts can not only perform the work but also communicate it with clarity and defensibility. It emphasizes that valuation is not a linear, but a circular, iterative process—one that requires judgment, consistency, and adherence to professional standards. It delivers essential guidance on special-purpose valuation, engagement planning, and effective report writing. The textbook builds upon NACVA’s decades-long leadership in advancing the globally recognized Certified Valuation Analyst® (CVA®) credential and core body of knowledge training program that upholds the highest standards of professionalism, expertise, and analytical rigor across more than a dozen countries. The CVA is the only business valuation credential accredited by the National Commission for Certifying Agencies® (NCCA®) and the ANSI National Accreditation Board® (ANAB®), placing it among an elite group of credentials worldwide that holds both accreditations. This is a must-read for valuators, Certified Public Accountants, economists, business consultants, financial advisors, stock analysts, M&A professionals, and undergraduate and graduate students of accounting, economics, finance, business or business administration. An A-to-Z guide to private enterprise valuation by leading industry experts. Now in book form, the concepts herein have been used in training over 25,000 professionals to understand the ins and outs of business valuation. Business Valuation: Fundamentals, Techniques, and Theory is the authoritative body of knowledge for entry-level and seasoned business valuators. To determine an accurate estimate of value of a business or company unit, you will need a thorough understanding of the purposes for a valuation and the methodologies that are appropriate to each situation. Written by leading valuation experts, this book will teach you all the processes that need to be addressed when valuing a business enterprise, including calculating cost of capital, determination of appropriate earnings, selection of valuation methodology, and the amount and type of discounts and/or premiums to apply. You will also learn the principles of analyzing and normalizing financial statements, and factoring into consideration conditions within the local, national, and industry economic environment. In addition to clear and comprehensive explanations of the theories and practices involved in private enterprise valuation, this book includes many features that will help business advisors be more value driven focused. A practice case offers an opportunity to walk through the complexities common in a real-world valuation, reinforce the techniques and nuances to writing a quality business valuation report, and give you a solid understanding of the industry standards that drive the report and the underlying analysis. With this valuable resource, you will learn how to: Identify the appropriate valuation methods and ancillary considerations for any situation Gather the information you need to properly calculate the value of a business Deal with the complexities such as future benefit streams and cost of capital Abide by the standards, regulations, and guidelines relevant and applicable to business valuators This valuation guide is a must for business valuators, CPAs, accountants, economists, business consultants, financial advisors, stock analysts, merger and acquisition professionals, and students studying in any business discipline.

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Pagina's: 464, Editie: Eerste editie, Hardcover, Wiley