may/june 2021
TRANSCRIPT
MAY/JUNE 2021
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A P R O F E S S I O N A L D E V E L O P M E N T J O U R N A L f o r t h e C O N S U L T I N G D I S C I P L I N E S
the value examiner MAY | JUNE 2021 3
on the cover in this issue…
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COVID-19 and Divorce: Dealing with Financial Uncertainty in Marital “Portfolios” (Part II of II)By Josh Shilts, CPA, ABV, CFF, CGMA, CFEMarket and asset volatility, and the resulting economic uncertainty, creates significant challenges for professionals assisting their clients in determining equitable distribution and spousal support. In Part II of this two-part series, the author presents practical tools—based on his experience providing litigation support services during the pandemic—for financial professionals to consider as they grapple with these issues.
A Call for Industry Specialization: An Academic Perspective on the Importance of Qualitative ResearchBy Kipp A. Krukowski, PhD, CVA, ASA (retired), and Lawrence Justin White, Jr., PhD, CVAThe intent of this article is to show how academic methodology adds value to our industry by explaining the importance of connecting qualitative and quantitative analysis through mixed methods triangulation.
Measuring Damages: Lost Profits versus Diminution of Business ValueBy William W. Thomsen, CFA, ASAThis article highlights key differences between two common measures of damages: loss of profits and diminution of business value. It also illustrates how the practical application of these techniques may result in significantly different conclusions, including the counterintuitive situation in which a lost profits calculation exceeds total business value.
Valuing Brands in the Tech Sector Using an Apportionment
Framework
By Doug Bania, CLP, and Brian Buss, CFA, CPVA
To develop an accurate and meaningful brand valuation for a tech company, valuation analysts need to consider earnings-based valuation approaches, understand the interconnection of technology and brand assets, and deploy various analytical tools to uncover important information that is not always obvious. In this article, we present a case study to illustrate the use of a profit apportionment analysis to quantify the financial contributions of the subject company’s brands.
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A P R O F E S S I O N A L D E V E L O P M E N T J O U R N A L f o r t h e C O N S U L T I N G D I S C I P L I N E S
4 MAY | JUNE 2021 the value examiner
E D I T O R I A L S T A F FCEO & Publisher: Parnell Black
Editor: Daniel Shiffrin, JDAssociate Editor: Lynne Johnson
E D I T O R I A L B O A R DChair:
Lari B. Masten, MSA, CPA, ABV, CFF, CVA, ABAR, MAFF
Past Chair: Michael Goldman, MBA, CPA, CVA, CFE, CFF
Ashok Abbott, MBA, PhDJohn E. Barrett Jr., MBA, CPA, ABV, CVA, CBA
Gary W. Baum, MBA, CPA, CVA Neil J. Beaton, CPA, ABV, CFF, CFA, ASA
Rod P. Burkert, CPA, CVALorenzo Carver, MS, MBA, CVAWolfgang Essler, CVA (Germany)
Richard W. Goeldner II, ASA, CBA, CVADorothy Haraminac, MBA, CFE, MAFF, PI Hubert Klein, CPA, ABV, CVA, CFE, CFF
Andrew M. Malec, PhDMichael J. Molder, JD, CPA, CFE, CVA, MAFF
Judith H. O’Dell, CPA, CVAMichael D. Pakter, CPA, CFF, CGMA, CFE,
CVA, MAFF, CA, CIRA, CDBVDanny A. Pannese, MST, CPA, ABV, CVA, CSEP
Kevin A. Papa, CPA, CVA, ABV, CVGADonald Price, CVA, ASA
Angela Sadang, MBA, CFA, ASA, ABVKeith Sellers, CPA, ABV
Todd Zigrang, MBA, MHA, FACHE, CVA, ASAThe Value Examiner® is a publication of:
National Association of CertifiedValuators and Analysts® (NACVA®)
1218 East 7800 South, Suite 302Sandy, UT 84094
Tel: (801) 486-0600, Fax: (801) 486-7500E-mail: [email protected]
NACVA members are automatically provided a subscription to The Value Examiner with membership.
If you do not want to receive this publication, upon request, we will reduce your annual dues by $25.
The Value Examiner® departments
S U B M I S S I O N D A T E SIssue Submission Publish Dates DatesSept./Oct. June 18 Oct. 1, 2021Nov./Dec. Aug. 18 Dec. 1, 2021Jan./Feb. Oct. 19 Feb. 1, 2022
A L L S U B M I S S I O N SThe Value Examiner is devoted to current, articulate, concise, and practical articles in business valuation, litigation consulting, fraud deterrence, matrimonial litigation support, mergers and acquisitions, exit planning, and building enterprise value. Articles submitted for publication should range from 800 to 4,000 words. Case studies and best practices are always welcome.
S U B M I S S I O N S T A N D A R D SManuscripts should be submitted via the Scholastica professional journal management platform. For more information, or to submit an article, please visit: https://www.nacva.com/tveauthors. By clicking on the "Submit via Scholastica" button, you can view detailed editorial and submission guidelines. If you have questions, please contact Dan Shiffrin, Editor, at [email protected], or Lynne Johnson, Associate Editor, at [email protected].
R E P R I N T SMaterial in The Value Examiner may not be reproduced without express written permission. Article reprints are available; call NACVA at (800) 677-2009 and/or visit the website: www.NACVA.com.
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P R A C T I C E M A N A G E M E N T
Practicing Solo: Malcolm McLellandBy Rod P. Burkert, CPA, CVAThe author interviews sole practitioner Malcolm McLelland, PhD, CPA, from São Paulo, Brazil.
D I V E R S I O N S
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A C A D E M I C R E V I E W
Academic Research BriefsBy Peter L. Lohrey, PhD, CVA, CDBV
This column provides readers with summaries of contemporary research in valuation and forensic accounting. Summarized manuscripts—selected from numerous academic research outlets—cover significant developments that affect the ever-changing valuation and forensic accounting landscape. The objective is to increase awareness of recently completed research that advances knowledge of these subjects.
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