Business Valuation
Business valuation is both art and science. There are parts of business valuation that are based on generally accepted techniques and principles. An example would be the build-up method for determining the appropriate expected rate of return. The long term interest rate and equity risk premiums are based on extensive history. Yet there is still debate about such topics as geometric vs. arithmetic means when computing a discount rate. There is even more subjectivity in determining company specific risk factors and discount rates. It requires experience, judgment, and objectivity to evaluate these factors and come up with a result that is reasonable. My experience both in industry, public accounting, and consulting has given me a broad perspective that drives my conclusions. I am able to describe what assumptions were utilized and how they impact the computation. After drafting my report I have my clients and/or their advisors review the document to confirm the assumptions used, understand the methodologies employed, and accept the conclusions obtained.
Joshua C. Feldman performs business valuations for a variety of situations including:
Gift & Estate Tax Planning and Preparation Mergers & Acquisitions
Employee Stock Ownership Plans (ESOP's) Succession Planning
Stock Option and Deferred Compensation Grants Divorce