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Tolley's Practical Share and Business Valuation

Tolley's Practical Share and Business Valuation

Author: David Bowes
Publisher: LexisNexis U.K.
ISBN: 9780754535362
Published In: November 2008
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

A basis for understanding the valuation of shares, businesses and intangible assets.

The valuation of businesses and business assets is a complex topic. Following recent changes to financial reporting standards, requiring accounting for cost of options and values of acquired intangibles, this task is also now more important to accountants, tax professionals and FDs than ever before.

This practical book provides a sound basis for understanding the fundamentals of valuation of shares, businesses and intangible assets whether for tax, commercial or financial reporting purposes. The author's extensive practical experience will enable all valuers to navigate the minefield that is share and business valuation, and embark with renewed confidence on those all important negotiations with HMRC.

Ensure that you are able to advise on the best possible approach to valuation for any purpose (company and business; IP and intangible assets; fair value or litigation support) and put the principles from statute and case law into practical application to the benefit of your company or client.

Section 1 - General;
1. Introduction;
2. Nature and types of shares;
3. Shareholders' rights and obligations;
4. Shareholder returns;
5. Voting influence and value;
6. Occasions of valuation;

Section 2 - Valuer's liability;
7. The present position;
8. Auditor standard v Specialist standard;

Section 3 - Methods of analysis;
9. Dividend yields and cover;
10. The Earnings bases - P/E ratio, Pre-tax multiple, EBIT, EBITDA, Discounted Cash Flow;

Section 4 - Mechanics of valuation;
11. Introduction - types of company and size of holding;
12. Yield basis;
13. Earnings basis;
14. Asset basis;
15. Industry rules of thumb;
16. Redundant assets & Hybrid valuations;
17. Unincorporated businesses;

Section 5 - Fiscal Valuation;
18. Statutory open market - IHT and CGT;
19. Information standards;
20. Fiscal valuations;
21. Employee shares - UMV and AMV;
22. Dealing with SAV;
23. Business Property relief;

Section 6 - Non-fiscal valuation;
24. Articles' valuations;
25. Shareholder disputes;
26. Quasi-partnership;
27. Valuations for Matrimonial purposes;

Section 7 - Fiscal and non-fiscal compared;
28. Statutory open market value v open market value;

Section 8 - Intangibles;
29. Goodwill;
30. Other intangibles;

Section 9 - International valuation aspects;
31. Cross border transactions;

Section 10 - The Expert Witness;
32. The expert's obligations and CPR Part 35 reports;

Section 11 - Valuation for accounts' purposes;
33. Share options - IFRS 2/FRS 20;
34. Intangibles - IFRS 3;

Appendices

David Bowes, Head of Share and Business Valuation, Vantis