Understanding Business Valuation: A Practical Guide to Valuing Small to Medium Sized Businesses - Third Edition

Now in its third edition, Understanding Business Valuation, 3e provides a comprehensive treatment of business valuation basics and delivers practical applications for using business valuation theory in your practice. Topics include valuation standards, theory, approaches, methods, discount and capitalization rates, S corporation issues, and much more!

New to this edition:

• Two new chapters on Business Valuation Standards and Valuing Intangible Assets address common industry standards and the emerging topic of intangible asset valuation.
• A new annotated version of AICPA Statement on Standards for Valuation Services No. 1 identifies practical applications and explanations for all sections of the standard.
• Greatly expanded discussion on S corporation issues and how to address them when valuing closely held entities.
• New and revised exhibits, tables, boxes, and figures illustrate and highlight the most important topics discussed in each chapter.
• New two-color interior design strengthens your understanding and makes learning business valuation easier and more convenient than ever.
• Author’s Note boxes throughout the text draw on the author’s veteran, practical experience to identify critical points in the content.
• The accompanying CD-ROM includes several new sample reports and one of the most comprehensive bibliographies in business valuation practice.

Praise for the new third edition

“Gary Trugman has done it again. The third edition of his Understanding Business Valuation provides a wide-ranging and practical introduction to the field. What I like best about the book is that Trugman tells the reader what he thinks. And he does so in typical Trugman style—his humor shows through some of the thickest subject matter. And the book provides many practical examples and suggestions for a broad range of business valuation engagements. You’ll be glad this book is in your library.”

Z. Christopher Mercer, ASA, CFA
CEO
Mercer Capital

“Mr. Trugman’s third edition of Understanding Business Valuation is packed with useful information that is written in Mr. Trugman’s usual easy-going style. He presents difficult technical material in basic language that is actually fun to read. No easy task. However, that is one of Mr. Trugman’s talents, and it comes shining through here. In addition, he includes many examples that guide both the novice and experienced valuation analyst through the process, from the engagement letter to the report. Very well done.”

James R. Hitchner, CPA/ABV, ASA
Managing Director, The Financial Valuation   Group
President, The Financial Consulting Group
Editor in Chief, Financial Valuation and Litigation Expert