A Field Guide to Business Valuation : For Owners and Leaders of Private Companies.

Format:

Book

Author/Creator:

Karlsen, Casey.

Contributor:

Webber, Seth.

Language:

English

Subjects (All):

Business enterprises--Valuation.

Business enterprises.

Corporations--Valuation.

Corporations.

Physical Description:

1 online resource (387 pages)

Edition:

1st ed.

Place of Publication:

Portland : Business Valuation Resources, LLC, 2022.

Summary:

"This book is intended for business owners and their advisors who would like to learn more about how to estimate what a business is worth, what factors affect value, and how to make businesses more valuable. After reading this book, one should be conversantin business valuations and comfortable with the overall valuation framework. It is not an exhaustive dissertation on business valuation. Many other (very thick) books get into the details, picking up where this book leaves off. This book is for people who want an understanding of how businesses are valued but don't have the time to read heavy textbooks"-- Provided by publisher.

Contents:

Intro

The Complete Guide to Fair Market Value Under the Stark Regulations

Dedication

Acknowledgements

About BVR and AAPCP

About the Editor

About the Authors

Part I. Introduction

Editor's Introduction: How to Use This Guide

1. Introduction to This Guide

2. The Role of the Public Comments in Developing the New Stark FMV

3. Approaching the New Stark FMV Thematically and Holistically

4. An Educational and Desk Reference Resource

The History of FMV in the Stark Regulations

1. Introduction

2. CMS' History of the Stark Regulations

3. CMS' Update to the Stark Regulations (2020)

4. The Historical Development of the Definitions of FMV and GMV

Part II. Public Comments and CMS Responses

Chapter 1. Comments on the Definition of GMV: Buyers and Sellers Without Business Relationships

1. Background to the Public Comments: CMS' Proposed Regulations

2. Public Comments to CMS

3. CMS Response to the Comments

Chapter 2. Comments on Fair Market Value and Practice Losses

3. CMS' Response to the Comments

4. CMS' Commentary on Losses and Commercial Reasonableness

Chapter 3. Commentary on Market Value and Valuation Methodology

Chapter 4. Usage of Survey Data

Chapter 5. GMV vs. FMV Under Business Valuation Principles

Chapter 6. Commentary on Requests for a Rebuttable Presumption

Part III. CMS Revisions and the Public Comments: The Hidden Story.

Chapter 7. The Retracted Definition of FMV: We Don't Like 'Likes'

2. CMS' Retracted Definition of FMV

3. Public Comments on the Definition of FMV and 'Likes'

Chapter 8. The Retraction of FMV as a Hypothetical Transaction Value

2. CMS Commentary on FMV as a Hypothetical Transaction Value

3. Public Comments on FMV as a Hypothetical Value

Chapter 9. Contributors to Buyer Neutrality and the Economics of the Subject Transaction

2. The Economics of the Subject Transaction

3. Buyer Neutrality

Chapter 10. Sec 3. Valuation Practice Under the Current Regulations: A Perspectival White Paper

I. Introduction

II. Fair Market Value under the Current Regulatory Definition

III. Valuation Practice under Current Stark Preamble Commentary

IV. Conclusion

Part IV. Topical Discussions

Chapter 11. The Fair Market Value of the Subject Transaction

2. 'Of the Subject Transaction' in the Stark Regulations

3. Analysis and Evaluation of the Regulatory Text and Commentary

4. Application and Implications for Valuation Practice

Chapter 12. How Stark FMV Functions as a Standard of Value

2. How a Standard of Value Functions in Valuation

3. Identifying the Elements in the Stark Definition of FMV

4. Analyzing the Stark Definition of FMV as a Standard of Value

5. Implications and Applications for Valuation Practice

Chapter 13. Making Sense of the Commercially Reasonable Method Standard

2. CMS' Discussion of a 'Commercially Reasonable' Valuation Method

3. Analysis and Evaluation of the Commercially Reasonable Method Standard

4. Implications and Applications for Valuation Practice

Chapter 14. Precluded Reliance on Market Data From Business-Related Parties

1. Introduction.

2. The Doctrine of Precluded Reliance

3. Analysis of the Precluded Reliance Doctrine

4. Implication and Applications for Valuation Practice

Chapter 15. Methodological Neutrality

2. Historical Background: 'CMS Favors the Market Approach'

3. New Stark Regulations: CMS Policy Is FMV Methodological Neutrality

4. Analysis and Evaluation of CMS' Commentary

Chapter 16. Using Survey Data for Stark FMV-Part 1

2. CMS Commentary on Survey Data Usage

3. Analysis and Evaluation of CMS' Commentary

Appendix. CMS on 'Survey Says' in the Halifax Case

Chapter 17. Using Survey Data for Stark FMV-Part 2

2. Using Survey Data Consistent With the Precluded Reliance Doctrine

3. Meeting the Stark Criteria for Valuation Methods

4. Addressing Practice Losses

5. Conclusion

Chapter 18. On the Concepts and Principles of the Valuation Community

2. The New Status of Valuation Concepts and Principles for Stark FMV

Chapter 19. The Economics of the Subject Transaction

2. CMS Commentary on the Economics of the Subject Transaction

Chapter 20. Buyer Neutrality

2. CMS' Commentary on Buyer Neutrality

5. Evaluating the Willing Buyer in Stark and Traditional FMV

Chapter 21. Losing Money as an FMV Issue

2. CMS Commentary on Losses as a FMV Issue

3. CMS Commentary on Losses as a CR Issue.

4. Analysis and Evaluation of CMS' Commentary

Chapter 22. Understanding the Compensation Examples

2. CMS' Background for the Compensation Examples

3. The Orthopedic Surgeon

4. The Family Physician

5. The Cardiothoracic Surgeon

6. Key Takeaways From the Compensation Examples

Chapter 23. The New Valuation Date for Stark FMV

2. The Valuation Dates in the New Stark Regulations

3. Analysis and Evaluation of the New Valuation Dates for FMV

Chapter 24. Reflecting on Recent Regulatory Changes to the Stark Law: A Real Estate and Equipment Valuation Perspective, Part 1

2. Previous Definition of Fair Market Value (42 U.S.C. 1395nn)

3. Current, Three-Part Definition of Fair Market Value (42 C.F.R. 411.354)

4. Current Definition of General Market Value (42 C.F.R. 411.354)

Chapter 25. Reflecting on Recent Regulatory Changes to the Stark Law: A Real Estate and Equipment Valuation Perspective, Part 2

2. Subject Transaction

3. Buyer-Neutral

4. Conclusion

Part V. Arrangements Not Subject to FMV

Chapter 26. An Overview of Compensation Plans That Do Not Require FMV Compliance

1. In-Office Ancillary Services Exception (IOASE)

2. Value-Based Payment Exceptions

Chapter 27. Value-Based Activities Compensation: Can We Throw Fair Market Value Out the Window?

2. The VBE Final Rule

3. VBE Compliance

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Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781621502432

1621502430