ISBN: 0071409920

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We have used realistic case studies to show how valuation is used in buying or selling a business to another individual, in business succession planning, in setting a price for an employee to buy into the company, in a financial settlement when a business owner gets a divorce, and in an acquisition by another company.

Owners and their advisors should know when to have a valuation, what are the pros and cons of different valuation methods, and how to answer the questions that a valuation analyst will ask about the company. This book helps the owner and his/her advisor to manage the valuation process in alignment with the owner’s strategic goals.

The first, practical guide for business owners on this most important topic! You will learn the answers to these questions:

• What is a business valuation?
• When should you have a business valuation done?
• How much should a business valuation cost?
• What are the pros and cons of different valuation methods?

Easy to read!

Easy to understand!

Easy to save money by following the helpful tips for owners included in this book.

Find out why the "valuation multiples for your industry" quoted by a local business broker can be dangerous to your financial health. Plus advice on:

• How to make sure the valuation is accurate; and
• How to use valuation information to manage your company better.

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Principles of Private Firm Valuation combines recent academic research and practical real-world experience to help readers better understand the multitude of factors that determine private firm value. For the financial professional serving private firms–who are increasingly being called upon to give advice on issues related to firm valuation and deal structure–this comprehensive guide discusses critical topics, including how firms create value and how to measure it, valuing control, determining the size of the marketability discount, creating transparency and the implications for value, the value of tax pass-through entities versus a C corporation, determining transaction value, and the valuation implications of FASB 141 (purchase price accounting) and 142 (goodwill impairment).

Dr. Stanley J. Feldman (Wakefield, MA) is Associate Professor of Finance at Bentley College, where he currently teaches courses in corporate finance with a focus on business valuation and business strategy at both the graduate and undergraduate levels. He is a member of the FASB Valuation Resource Group and is Chairman and cofounder of Axiom Valuation Solutions.