Business valuation: an integrated theory

"The ""Business Valuation: An Integrated Theory"" manages to present the theoretical analysis of valuation from the first edition and expand on that discussion by providing additional guidance on implementing the relevant valuation theories, notably in its expanded discussion of the Quantitative Marketability Discount Model' - Dr. David Tabak, NERA Economic Consulting. Whether you are an accountant, auditor, financial planner, or attorney, ""Business Valuation: An Integrated Theory"" enables you to understand and correctly apply fundamental valuation concepts. Thoroughly revised and expanded, the book demystifies modern valuation theory, bringing together various valuation concepts to reveal a comprehensive picture of business valuation.With the implementation of new accounting pronouncements mandating the recognition of numerous assets and liabilities at fair value, it has become critical for CPAs charged with auditing financial statements to understand valuation concepts. With thoughtful and balanced treatment of both theory and application, this essential guide reveals: the ""GRAPES of Value"" - Growth, Risk and Reward, Alternative Investments, Present Value, Expectations, and Sanity; the relationship between the Gordon Model and the discounted cash flow model of valuation; the basis for commonly applied, but commonly misunderstood valuation premiums and discounts; and, a practical perspective on the analysis of potential business acquisitions."