In THE REAL ESTATE CLIENT: VALUATION SERVES IMPORTANT MASTERS IN LITIGATION CASES, forensic accounting expert witness Richard M. Squar, CPA, CVA, ABV, CFF, MBA-Taxation, writes:
Before the business appraiser can focus on the specific value of the limited partnership interest, the value of the entire partnership based on the sum of the individual asset values less the partnership liabilities needs to be determined. The appraisal valuation date is critical, such date normally concurring with the date the transaction(s) regarding alleged effects upon the injured party occurred. The valuation date may be expanded to include the date of trial.
Some valuation concepts have evolved to the point of becoming standards of value. It is important that users of a valuation expert understand which standard of value the business valuation expert utilizes. Deciding the appropriate standard of value to use is where the expert often begins.