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If you are considering a foray into the field of business valuation, Essentials of Valuing a Closely Held Business is the ideal point of entry to the topic. Author Gary Trugman, known for his practical approach to valuation, helps you connect the theory of business valuation with real-world practical applications. Drawing essential concepts from his more comprehensive Understanding Business Valuation, Trugman’s new book, in download format, focuses on the core concepts practitioners new to valuation need to understand and gives you quick access to valuation reporting examples for your practice. It’s never been easier to unlock the basics of business valuation!
Inside you will find:Note: This product is an electronic download file that will be accessible immediately after completing your purchase. Access to this file – from the My Download page – expires 90 days from purchase date.
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The purpose of this book is to familiarize the reader with business valuation. It is not intended to cover topics in detail, but rather to provide you with enough of an overview about business valuation for you to determine whether this is an area of practice that you want to get involved in. If you are looking for a more in-depth look at business valuation, I suggest that you obtain the third edition of Understanding Business Valuation,* also written by me and published by the American Institute of Certified Public Accountants (AICPA). Let's get an understanding between us right up front.While this book is intended to be informative, it is written in conversational English. Forget stuffy. There are no rules that say you cannot enjoy what you read on a technical topic. So, with that said, please understand the spirit in which this publication is written. I am not looking to insult anyone, but I do have a tendency to poke fun at people, including myself.With that said, let's get started.
Even though I know that the AICPA will tell you this, probably on page one or two of this book, this publication provides practitioners with an overview of the business valuation process. It is not authoritative, nor should it be relied upon solely in rendering an opinion on the value of a closely held business. Instead, it is designed to help the practitioner to understand the valuation process, its applicability to certain types of engagements, the various methods of valuation, and to find answers to the many questions that arise during business valuation engagements. For those attorneys who want to use this publication in a legal proceeding against me, either read the entire book into the record or don't bother using it at all. Taking only little snippets out of this book will mislead the judge or jury. You will surely take what I have said out of context.
In performing business valuation engagements, the practitioner is advised to review appropriate professional literature to determine the accountant's reporting requirements if the report contains financial statements intended for third parties. Particular care should be taken by the practitioner to review the appropriate professional literature to understand prospective financial reporting requirements as they relate to forecasts and projections because valuation is a prophecy of the future. The business valuation analyst must use forecasts and projections in the normal course of the business valuation engagement and cannot rely solely on historical financial statements. If you are not comfortable using forecasts, this may not be the field for you. Sometimes, we get to work with forecasts, and it is almost as much fun as bungee jumping without the cord. You have to decide whether you have the stomach to do this stuff. Oh, by the way, many of our smaller clients do not have the ability to do their own forecast, so we do it for them. Pass the Tums!
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