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Tables of Contents for The Handbook for Divorce Valuations
Chapter/Section Title
Page #
Page Count
Foreword
xv
2
Preface
xvii
2
Acknowledgments
xix
1 Introduction
1
6
Understanding the Litigation Environment
1
1
Services to Be Provided
2
2
Valuation Services
2
2
Expert Services
4
1
About This Book
4
3
2 Valuation Approaches and Applicability to Divorce Practice
7
14
Standards of Value
7
3
Valuation Approaches
10
10
Asset Approach
11
4
Income Approach
15
2
Market Approach
17
3
Summary
20
1
3 Engagement Acceptance and Administration
21
10
Preengagement Procedures
21
1
Conflicts of Interest
22
3
Expertise, Competence, and Time Commitment
25
2
Profitable Engagements
27
1
Engagement Letter
28
1
Retainer and Billing
29
1
Summary
29
1
Further Reading
30
1
4 The Engagement Process
31
10
In the Beginning
31
1
Defining the Scope of the Engagement
32
2
Defining Your Role
32
1
Defining Expectations
33
1
Setting the Plan
34
2
Keeping in Touch
36
1
Workpapers
37
2
Prior Workproduct
39
1
Summary
39
2
5 Data Collection and Analysis
41
8
Document Request Letter
41
1
Premise Inspection and Client Interview
41
1
Analyzing Financial Data
42
4
Valuation Software
46
1
Summary
47
2
6 Industry Information--Where to Find It and How to Use It
49
6
Financial Benchmarking Sources
49
4
Robert Morris Associates
50
1
The Almanac of Business and Industrial Financial Ratios
51
1
Financial Studies of Small Business
51
1
Other Financial Benchmarking Sources
52
1
Source of Economic Data
53
1
WEFA
53
1
U.S. Trade and Industry Outlook
53
1
National Economic Review
53
1
Other Data Sources
54
1
Summary
54
1
7 Are There Really Comparable Companies?
55
8
Publicly Traded Analysis Guidelines for Comparable Companies
56
3
Define the Selection Criteria
56
1
Perform a Search for Guideline Companies
57
1
Obtain Financial Data of the Guideline Companies
57
1
Review and Narrow the Guideline Companies
58
1
Analyze and Adjust Guideline Company Data
58
1
Derive Pricing Multiples
58
1
Adjust the Pricing Multiples
59
1
Privately Held Merger and Acquisition Data
59
3
Widely Used Databases
59
2
Other Sources of Transactional Data
61
1
Preparing the Data
62
1
Analyzing and Applying the Data
62
1
Summary
62
1
8 Discounts and Premiums
63
10
Valuation Methodology and Application of Discounts and Premiums
63
1
Control Premium
64
1
Minority Interest Discount
65
2
Discounts for Lack of Marketability
67
3
Summary
70
3
9 Goodwill in a Divorce Context
73
8
Defining Goodwill
73
1
Understanding State Interpretations
74
2
Personal Versus Entity Goodwill
76
4
The Valuator's Goal
80
1
Summary
80
1
10 Arriving at a Conclusion of Value
81
12
Selecting the Valuation Approach
81
3
Ranges Versus Specificity
84
1
Estimates of Value
84
1
Documenting the Conclusion
85
3
The Written Report
85
1
Full Versus Basic Reports
85
1
Elements of a Good Report
86
2
What Is USPAP?
88
2
Why Does USPAP Apply to Divorce Engagements?
89
1
USPAP Guidance
89
1
Other Professional Standards
90
2
American Institute of Certified Public Accountants
91
1
American Society of Appraisers
91
1
Institute of Business Appraisers
92
1
National Association of Certified Valuation Analysts
92
1
Summary
92
1
11 The Deposition
93
6
Three Rules for Successful Depositions
94
1
The Opposing Attorney's Goals in the Deposition
95
1
Your Goals during the Deposition
96
1
Deposition Strategies
97
1
Reviewing Your Deposition
97
1
Attendance at the Opposing Expert's Deposition
98
1
Summary
98
1
12 Preparing for the Trial
99
8
Preparation, Preparation, Preparation
99
3
Scripts Versus Outlines
100
1
Prepare to Handle the Inherent Weaknesses in the Case
101
1
Review the Events Leading up to Trial
102
1
Learn about the Trier of Fact
102
1
Review Expected Cross-Examination
103
1
Get Comfortable with Your Upcoming Trial Experience
104
1
Relax
105
1
Be Ready to Teach
105
1
Summary
105
2
13 Direct Examination
107
12
The Truth, the Whole Truth, and Nothing But the Truth
107
1
Getting Comfortable
107
2
Painting the Picture, Telling the Story
109
1
Working Through Your Presentation
110
1
Teach, Do Not Lecture
111
2
The Theory of Effective Teaching
113
1
Develop the Logic of Your Conclusions
114
1
Keep the Presentation Interesting
115
1
Keep It Simple, Stupid (KISS)
115
1
Be an Orator
116
1
Summary
117
2
14 Surviving Cross-Examination
119
6
What the Opposing Counsel is Trying to Do
120
1
Handling the Cross-Examination
121
4
15 Business Valuation Credentials, Organizations, and Professional Standards
125
80
Accredited in Business Valuation
125
1
AICPA Business Valuation Standards
126
1
Accredited Senior Appraiser
126
1
ASA Business Valuation Professional Standards
127
43
Certified Business Appraiser
170
22
Certified Valuation Analyst
192
13
16 Marketing the Divorce Practice
205
8
Type of Services
206
1
What Attorneys Look For
207
1
Identify the Market and the Competition
208
1
Let the Users Know You Want the Work
209
1
Making Contact
209
2
Speaking Engagements
209
1
Volunteer or Pro Bono Work
210
1
Newsletters or Brochures
210
1
Summary
211
2
Appendix A Library and Reference Materials
213
4
Books
213
2
Periodicals and Databases
215
2
Appendix B Forms
217
20
Sample Engagement Letter
217
2
Sample Valuation Information Questionnaire
219
16
Simplified Data Collection Checklist
235
2
Appendix C Revenue Rulings
237
20
Revenue Ruling 59-60
237
7
Revenue Ruling 68-609
244
2
Revenue Ruling 77-287
246
5
Revenue Ruling 83-120
251
4
Revenue Ruling 93-12
255
2
Index
257