The classic bestseller on estimating the value of small businesses and professional practices is fully updated and enhanced. While continuing to take readers step-by-step through the valuation process, it now features timely new or significantly revised chapters on valuation for estate plans, employee stock ownership plans, and corporate partnership dissolutions/buyouts. Along with case studies, it also offers greatly expanded coverage of data sources and their availability to small businesses.

Valuing Small Businesses and Professional Practices

Business & Money

Pratt, Shannon

Finance

McGraw-Hill Professional Publishing

Wholesale Trade (Industry Valuation Update)

Kruschke, Linda

Niculita, Alina

Twitchell, Doug

Alerding, R. James

Business Valuation Resources Llc

This guide addresses the nuances associated with valuing business in eating and drinking establishments for a variety of purposes. Written to assist business appraisers, business brokers, business owners, industry associations, and business buyers, early chapters provide an introduction to medians and means, reasons for valuation and tips for maximizing value.  Various approaches to determining valuation are described.  These include how and when to use each, analysis, court case abstracts and reference materials.

Eating and Drinking Places (Industry Valuation Update)

GORDON, NOAH.

Construction (Industry Valuation Update)

Software: Prepackaged & Systems Design (Industry Valuation Update)

ALLEN, TERRY

A compilation of articles from Shannon Pratt's Business Valuation Update and Judges and Lawyers Business Valuation Update newsletters that will help your valuation ideas become clearer, more contentious, and targeted. Topics include standards, education, control premiums, cost of capital, CLOM, family limited partnerships, lawyer's view from the appraisal chair, litigation issues, reflection articles and valuation approaches.

The Best of Shannon Pratt: A Compilation of Articles

This classic reference continues to serve as the ultimate guide for every professional and small business owner involved with business valuation. Beginning with the fundamentals, Shannon Pratt takes readers through the entire valuation process, with new information: Cash value analysis; Valuing minority interests; Court decisions affecting the valuation of specific types of professional practices.

Management & Leadership

Irwin Professional Publishing

Cost of capital is arguably the most important concept in all of finance, as it is the expected rate of return that market participants require to attract funds to an investment. The cost of capital estimate is the essential link that enables a business to convert a stream of expected income into an estimate of present value. The Lawyer's Guide to the Cost of Capital provides the most comprehensive survey of cost of capital case law across jurisdictions and venues. Cost of capital is a key topic in the valuation of business interests, particularly interests in closely held entities, and this book provides offers attorneys, judges, and valuation experts with a comprehensive sourcebook for understanding the basis of a business valuation and for background in examining and cross-examining expert witnesses. Authors Shannon Pratt and Roger Grabowski, both nationally recognized experts on all aspects of business valuation, explain the concept of "cost of capital" in a manner that is both logical and understandable. They present the basics of the cost of capital in almost any situation, including valuing equity versus invested capital; net cash flow; discounting and capitalizing; estimating the cost of equity capital; adjusting a discount or capitalization rate for another economic income measure; weighted averages; excess earnings method of valuation; and handling discounts for lack of marketability and liquidity. Subsequent chapters consider specific legal and economic contexts in which the cost of capital is a significant factor, including family law and estate planning; corporate restructuring; federal taxation; damage claims; intellectual property disputes; bankruptcy; appraisal and fairness cases; regulated industries; and ad valorem taxation. Finally, the book provides information for understanding and evaluating an expert's report, presenting frequently encountered errors in valuation reports and providing key questions to ask when examining witnesses in litigation.

The Lawyer's Guide to the Cost of Capital: Understanding Risk and Return for Valuing Businesses and Other Investments

Grabowski, Roger

American Bar Association]

Highly technical and often difficult to understand, business valuations are a critical subject for lawyers in many areas, such as divorce, bankruptcy, corporate and tax law, and estate and financial planning. The authors of this book, who have over 40 years of combined experience in transactional matters and litigation, present and discuss key concepts in valuation. At the same time, they explain how to dig beneath the surface of expert opinions and show how to find the most pertinent facts, interpret the data, and evaluate the quality and comprehensiveness of evidence. This easy-to-use manual covers all aspects of determining the value of a business, including definitions of value; personal versus enterprise goodwill, valuing professional practices and small businesses, cross-examination, commonly used terminology and bodies of evidence, professional credentials and standards; and recognized and accepted valuation methods. Adding to the book's usefulness are "Questions to Ask" for most sections, extensive case citations throughout to courts' positions on many issues, and appendices that include a glossary, bibliography of business valuation databases, and other useful tools.

Shannon Pratt's The Lawyer's Business Valuation Handbook: Understanding Financial Statements, Appraisal Reports, and Expert Testimony, Third Edition

Business

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Books by Pratt, Shannon