Fair Value Issues Among Auditors

As the use of fair value measurement has expanded, so has the need for professionals who have specialized capabilities related to the measurement of fair value and the resolution of fair value issues.

Janda v. Commissioner: The QMDM Appears in Tax Court Again

The Tax Court Memorandum demonstrated that the Court thoroughly studied and it appears well understood the QMDM. While the Court did not accept the expert’s 65.77% discount, the Court criticized the assumptions used, not the QMDM.

Fair Market Value vs. The Real World

The world of fair market value is not the real world. It is a special world in which the participants are expected (defined) to act in specific and predictable ways.

Is It Reasonable? Normalizing Adjustments

As part of the appraisal due diligence process, information is obtained from general partners and/or managing members as well as from a variety of other sources. Such information provides a basis for the appraiser to understand the composition, operations, strategy, and governance of the entity. This article focuses on the importance of analyzing, from a valuation perspective, the reasonableness of this information.