Lucas Parris, CFA, ASA-BV/IA, senior vice president, was part of the working group that recently produced an updated International Valuation Glossary – Business Valuation for the benefit of the valuation profession.
Because more professionals are operating across markets and within markets and this Glossary is intended to create more consistency in business valuation around the world. This Glossary is an update of the 2001 Glossary publication.
A short description of the Glossary can be found below:
This Glossary was developed as part of ongoing efforts to harmonize definitions for terms used in business valuation. It is intended to be a reference tool to facilitate communication within the business valuation profession and with relevant stakeholders and users. This Glossary is designed to be helpful, but neither authoritative nor prescriptive.
To that end, the Glossary aims to provide a common understanding of technical terms used within the various sub-practice areas of business valuation, and for those operating in different markets. Users of valuation services are encouraged to familiarize themselves with the appropriate context, as not all terms are applicable to every use.
In a video announcement of the Glossary, Lucas states, “The new Glossary contains more technical terms and methodologies, some of which have emerged since the previous document was published in 2001. We [the working group] view this new Glossary as more of an update with modernizations.”
The working group that prepared the International Valuation Glossary -Business Valuation and the valuation professional organization (VPO) they represent is as follows:
- Catalina Miranda, CBV Institute (CBV)
- Steve Choi, Royal Institution of Chartered Surveyors (RICS)
- Jeffrey S. Tarbell, American Society of Appraisers (ASA)
- Lucas M. Parris, American Society of Appraisers (ASA)
- Alexander Aronsohn, International Valuation Standards Council (IVSC)
- Muath Alkhalaf, Saudi Authority for Accredited Valuers (TAQEEM)
- Omar Mohammad Zaman, Saudi Authority for Accredited Valuers (TAQEEM)
Lucas is the leader of Mercer Capital’s Financial Reporting Valuation Group, providing public and private clients with fair value opinions and related assistance pertaining to goodwill and other intangible assets, purchase price allocation, stock-based compensation, and illiquid financial assets. In addition, he has over 15 years experience providing services related to corporate valuation, gift and estate tax compliance, fairness opinions, mergers & acquisitions, shareholder transactions, and litigation support.
