Z. Christopher Mercer, ASA, CFA, ABAR
Together, Paul and Tim have tackled what so many have talked about for years but have been either unable or unwilling to do – present basic valuation theory along with practical lessons and tips to aid users of business valuation reports in making sense of the report. A Reviewer’s Handbook to Business Valuation is a welcome addition to the business valuation profession.
Stephan R. Leimberg
Leimberg Information Services, Inc.
In business valuation, you don’t know what you don’t know. What a business owner and his/her advisors should know about business valuations could fill a book. Fortunately, Paul Hood and Tim Lee have written it! In one place you’ll find the questions to ask, real-world guidance, the best, most understandable, primer on business valuation that you’ll find anywhere, and a list of mistakes that others have made – so that you won’t make them. Don’t even think of authorizing anyone to start or work with you on a business appraisal -until you’ve read this book (and I’d insist all the professionals involved read it too)!
Nancy J. Fannon, ASA, CPA/ABV, MCBA
Fannon Valuation Group
In 1999, Kumho Tire Co. brought business valuation into the realm of scientific evidence and under the requirements of Daubert. And yet, courts continue to struggle with their “concerns about the reliability of [the appraiser’s report]” (Kohler v Commr., 2006) as much today as they did with this “highly theoretical exercise” (Reynolds v Commr., 1970) forty years ago. Has the business appraisal profession made any progress? Have we gotten any more “scientific”? Never before has such a complete work been assembled to address the courts’ concerns in this regard. A Reviewer’s Handbook to Business Valuation is a powerful new resource instructing not only reviewers of business valuation as to how to identify issues—it is also a preparer’s “must have” checklist for reviewing their own work.
Chris D. Treharne, ASA, MCBA, BVAL
Gilbraltar Business Appraisals, Inc.
Recalling the trite adage that one cannot learn to ride a bike by reading a book, Tim Lee successfully conveys complexities of the business valuation profession that can only be offered by someone with years of experience riding the business appraisal bicycle. Leveraging his career as a tax attorney, Paul Hood then takes Tim’s contribution to the next level and bridges the chasm between providers and users of business appraisal services. Readers won’t finish the book and then magically be able to ride the business appraisal bicycle. However, they will better understand the complexities and subtleties of the profession. More importantly, readers will be able to use the information to better serve their legal, accounting and financial planning clients.
Linda B. Trugman, CPA/ABV, MCBA, ASA, MBA
Trugman Valuation Associations, Inc.
Whether you are a business valuation professional or someone who works with valuation practitioners (attorneys, estate planners, CPAs), this book is for you. A Reviewer’s Handbook to Business Valuation provides an overview of valuation processes and methodology and in-depth review of the prevailing business valuation standards. What I found most compelling were the chapters regarding alleged errors, and practical tips and thoughts. As a seasoned valuation practitioner, it gives me a lot to ponder and many things to consider when I perform my next engagement.