Financial Valuation Workbook, 5th.epub
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A complete toolkit for financial valuators to help keep their engagements on-track and on-time In the newly revised fifth edition of Financial Valuation Workbook: Step-by-Step Exercises and Tests to Help You Master Financial Valuation, veteran valuation expert James R. Hitchner delivers a comprehensive collection of checklists, reports, information request templates, and other tools designed to assist valuation practitioners in the organization of their engagements. In the book, you'll find intuitively organized materials that cut the learning curve for newly minted valuation professionals in half. The tools contained within follow the standard valuation engagement format and track the intricacies of the typical valuation assignment. Over 300 exercises—organized by major subject—are included to assist with the learning process. You'll also find: Updated sections on S-corps, discounts for lack of marketability, and cost of capital resources and applications Report writing aids, discussions of individual vs. corporate tax rates, and guides for engaging in depositions and trials as an expert witness Materials designed to assist with the difference between capitalized cash flow and discounted cash flow methods Perfect for business valuation analysts and expert witnesses, Certified Public Accountants, and appraisers, the Financial Valuation Workbook will also be an indispensable resource for attorneys working with financial valuation experts as they aim to keep their engagements on-track, on-time, and on-budget.

1.1 INTRODUCTION
1.2 THE VALUATION REPORT
1.3 HISTORY AND NATURE OF BUSINESS15
1.4 GENERAL ECONOMIC AND INDUSTRY OUTLOOK
1.5 BOOK VALUE AND FINANCIAL POSITION
1.6 PROJECTIONS
1.7 APPROACHES TO  VALUE
1.8 INCOME APPROACH
1.9 COST OF  CAPITAL
1.10 MARKET APPROACH
1.11 GUIDELINE PUBLIC COMPANY METHOD
1.12 GUIDELINE COMPANY TRANSACTIONS METHOD
1.13 RECONCILIATION OF  VALUATION METHODS
1.14 CONCLUSION OF  VALUE
1.14 ADDENDUM: DISCOUNT CASE STUDY EXERCISES
Notes
CHAPTER 2: Valuation Case Study Exercises: Solutions and Explanations
2.1 ADDENDUM: DISCOUNT CASE STUDY EXERCISES
CHAPTER 3: Financial Valuation Applications and ModelsCompanion Exercises and Test Questions
3.32 CHAPTER 29: DETERMINATION OF COMPENSATION IN THE HEALTHCARE INDUSTRY
3.33 CHAPTER 30: SPECIAL INDUSTRY VALUATIONS
3.34 CHAPTER 31: BUY‐SELL AGREEMENTS
3.35 CHAPTER 32: VALUATION VIEWS AND CONTROVERSIAL ISSUES: AN ILLUSTRATION
CHAPTER 4: ValTips
4.1 INTRODUCTION
4.2 CHAPTER 1: INTRODUCTION TO FINANCIAL VALUATION
4.3 CHAPTER 2: STANDARDS OF VALUE
4.4 CHAPTER 3: RESEARCH AND ITS PRESENTATION
4.5 CHAPTER 4: FINANCIAL STATEMENT AND COMPANY RISK ANALYSIS
4.6 CHAPTER 5: INCOME APPROACH
4.7 CHAPTER 6: COST OF CAPITAL/RATES OF RETURN
4.8 CHAPTER 7: INTERNATIONAL COST OF CAPITAL
4.9 CHAPTER 8: MARKET APPROACH

4.10 CHAPTER 9: ASSET APPROACH
4.11 CHAPTER 10: VALUATION DISCOUNTS AND PREMIUMS
4.12 CHAPTER 11: REPORT WRITING
4.13 CHAPTER 12: BUSINESS VALUATION STANDARDS
4.14 CHAPTER 13: VALUATION OF PASS‐THROUGH ENTITIES
4.15 CHAPTER 14: ESTATE, GIFT, AND INCOME TAX VALUATIONS
4.16 CHAPTER 15: VALUATION OF FAMILY LIMITED PARTNERSHIPS
4.17 CHAPTER 16: SUMMARY OF COURT CASE VALUATION ISSUES
4.18 CHAPTER 17: SHAREHOLDER DISPUTES
4.19 CHAPTER 18: EMPLOYEE STOCK OWNERSHIP PLANS
4.20 CHAPTER 19: VALUATION IN THE DIVORCE SETTING
4.21 CHAPTER 20: VALUATION ISSUES IN SMALL BUSINESSES
4.22 CHAPTER 21: VALUATION ISSUES IN PROFESSIONAL PRACTICES
4.23 CHAPTER 22: REASONABLE COMPENSATION
4.24 CHAPTER 23: THE VALUATOR AS EXPERT WITNESS
4.25 CHAPTER 24: FAIR VALUE MEASUREMENT AND THE VALUATION OF INTANGIBLE ASSETS
7.1 INTRODUCTION
7.2 SECTION I—PRACTICE MANAGEMENT FLOWCHARTS
7.3 SECTION II—PRACTICE MANAGEMENT WORKFLOW PROCESS
Note
Chapter 8: Checklists
CHECKLIST 8.1: BUSINESS VALUATION OR REAL ESTATE APPRAISAL?
CHECKLIST 8.2: KEY INFORMATION REQUIREMENTS
CHECKLIST 8.3: INDUSTRY RESEARCH FORM
CHECKLIST  8.4: IRS BV GUIDELINES CHECKLIST, INTERNAL REVENUE SERVICE, ENGINEERING PROGRAM, BUSINESS VALUATION GUIDELINES 4.48.4
CHECKLIST 8.5: VALUATION INFORMATION REQUEST (VIR) GENERAL
CHECKLIST 8.6: VALUATION INFORMATION REQUEST (VIR)BANK/HOLDING COMPANY
CHECKLIST 8.7: VALUATION INFORMATION REQUEST (VIR)EMINENT DOMAIN
CHECKLIST 8.8: VALUATION INFORMATION REQUEST (VIR) GAS AND OIL RIGHTS
CHECKLIST 8.9: VALUATION INFORMATION REQUEST (VIR) HIGH‐TECH BUSINESS
CHECKLIST 8.10: VALUATION INFORMATION REQUEST (VIR) PROFESSIONAL PRACTICE
CHECKLIST 8.11: VALUATION INFORMATION REQUEST (VIR) MEDICAL PRACTICE
CHECKLIST 8.12: VALUATION INFORMATION REQUEST (VIR) CONSTRUCTION INDUSTRY
CHECKLIST 8.13: MANAGEMENT INTERVIEW—OPERATIONS
CHECKLIST 8.14: MANAGEMENT INTERVIEW—FINANCIAL REVIEW
CHECKLIST 8.15: MANAGEMENT INTERVIEW—INSURANCE AGENCY
CHECKLIST 8.16: MANAGEMENT INTERVIEW—PROFESSIONAL PRACTICE
CHECKLIST 8.17: MANAGEMENT INTERVIEW—MEDICAL PRACTICE
CHECKLIST 8.18: MANAGEMENT INTERVIEW—CONSTRUCTION INDUSTRY
CHECKLIST 8.19: MANAGEMENT INTERVIEW—LAW PRACTICE
CHECKLIST 8.20: MANAGEMENT INTERVIEW—ACCOUNTING PRACTICE
CHECKLIST 8.21: VALUATION INFORMATION REQUEST (VIR) COPYRIGHTS
CHECKLIST 8.22: VALUATION INFORMATION REQUEST (VIR) CUSTOMER RELATIONSHIPS