Standards of Value: Theory and Applications [Hardcover]

Written by Jay Fishman, Shannon Pratt, and William Morrisonthree renowned valuation practitionersStandards of Value, Second Edition discusses the interaction between valuation theory and its judicial and regulatory application. This insightful book addresses standards of value (SOV) as applied in four distinct contexts: estate and gift taxation; shareholder dissent and oppression; divorce; and financial reporting. Here, you will discover some of the intricacies of performing services in these venues.

• Features new case law in topics including personal good will and estate and gift tax, and updated to cover the new standards issued since the first edition
• Includes an updated compendium discussing the standards of value by state, new case law covering divorce, personal goodwill, and estate and gift tax, and coverage of newly issues financial standards
• Shows how the Standard of Value sets the appraisal process in motion and includes the combination of a review of court cases with the valuator's perspective
• Addresses the codification of GAAP and updates SOV in individual states

Get Standards of Value, Second Edition and discover the underlying intricacies involved in determining value.

Foreword xiii

Preface xvii

Acknowledgments xxi

About the Authors xxv

Introduction 1

Purpose 1

Every Appraisal is Unique 3

Fair Value versus Fair Market Value 4

Historical Perspective 5

Chapter Preview 8

Chapter 1: Common Standards and Premises of Value 8

Chapter 2: Fair Market Value lóZ