Business Valuation Body of Knowledge : Exam Review and Professional Reference
- Book Review,
by Shannon P. Pratt
Book Description
* Written by Shannon Pratt, one of the leading gurus in the business valuation field.
* Case study approach includes problems, solutions, and over 100-multiple-choice test questions.
* A reference and review of the core body of knowledge for those who need a grasp on business valuation even though they might not be seeking a professional designation.
The publisher, John Wiley & Sons
This review provides a focused overview of the entire body of knowledge necessary to pass the examination leading to a professional designation in the field of business appraisal. Written by one of the five leading gurus in business evaluation, this is a self-contained workbook in outline form comprising definitions, word problems, multiple-choice questions, and in-depth explanations.
From the Inside Flap
Business Valuation Body of Knowledge, Second Edition brings together the essentials of the core knowledge of business valuation as taught today by the leading professional associations. It provides both a study guide for those seeking business valuation certification (ABV, ASA, CBA, and CVA) as well as a reference guide for day-to-day use by practitioners. Shannon Pratt, one of the foremost authorities on the subject, emphasizes the valuation of closely held businesses and interests throughout, but much of the material is also applicable to publicly traded companies. The book begins by describing the legal and professional environment in which business valuation typically takes place, presenting a glossary of terms and the mathematical notation commonly used. The core of the book presents valuation approaches and methods, followed by company, industry, and economic analysis. Business Valuation Body of Knowledge also includes an extensive case study to demonstrate valuation practices in action and discusses how valuation methods may differ for different purposes–tax matters, employee stock ownership plans (ESOPs), shareholder disputes, etc. For the practitioner seeking accreditation, the book: Outlines the topics generally covered in accreditation exams, providing a review of the basics Identifies where topics are covered in each organization’s materials and reference books For the experienced practitioner, the book: Reviews the current rulings and professional positions on basic business valuation topics Provides a time-saving source to other references, with various views on basic topics Serves, in case of litigation, as a guide to help ensure that basic considerations have not been overlooked, and includes sources for positions on controversial issues For readers interested in further targeted study, the author includes references to Internal Revenue Service publications, professional standards, texts, and courses on each subject. Candidates seeking ABV, ASA, CBA, or CVA certification, as well as practitioners in need of a day-to-day reference, will find Pratt’s authoritative guide to be the premier resource in the field.
Back Cover Copy
Praise for the First Edition "The beauty of this work is that it points the reader to each professional organization’s writings on issues relating to business valuation methodologies and applications. I can’t think of an attorney who works with business valuation professionals who should not have this book." –Robert E. Kleeman Jr. CPA/ABV, ASA, CVA, CFE, Clifton Gunderson, LLC "Business Valuation Body of Knowledge will quickly become one of the foremost authoritative sources on the ‘body of knowledge’ for business valuations. It is well organized and written in a style which allows it to be used as both a teaching tool and a reference manual." –R. James Alerding CPA/ABV, ASA, CVA, Clifton Gunderson, LLC "When you simply need the answer, Shannon has it for you. The Body is a no-nonsense repository of information!" –Stephen J. Bravo CPA/ABV, CBA, CPF, PFS, Apogee Business Valuations, Inc. "This book is a ‘must have’ for every business valuation library. . . . [Shannon has] done an excellent job of compiling a core body of knowledge that is common to all of the major accrediting organizations in the business valuation profession." –Thomas E. Hilton CPA, CVA, Anders, Minkler & Diehl, LLP "The book is great. I especially like the cost of capital chapter. . . . It’s one of the few books where there is a succinct description of the different methods to determine the cost of capital. I thoroughly enjoyed reading it and it was a great refresher for me." –Mary McCarter ASA, CFA, Columbia Financial Advisors, Inc.
About the Author
SHANNON P. PRATT, CFA, FASA, MCBA, is a founder and managing director of Willamette Management Associates, one of the oldest and largest independent valuation consulting, economic analysis, and financial advisory firms, with offices in principal cities across the United States. Over a distinguished career of more than three decades, he has performed valuation engagements for M&A, ESOPs, and numerous other purposes. He has testified in a wide variety of federal and state courts across the country and frequently participates in arbitration and mediation proceedings. Dr. Pratt is one of the most successful and respected authors in his field. He is coauthor of several industry standards, including Valuing a Business: The Analysis and Appraisal of Closely Held Companies, Valuing Small Businesses and Professional Practices, The Market Approach to Valuing Businesses, and Cost of Capital. He is also editor in chief of Shannon Pratts Business Valuation Update®, the premier monthly newsletter in the field of business valuation.
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