ASA Newsroom recently interviewed me about “Managing Risk with Appraisal Review,” a topic I addressed in a recent article published in the ASA ARM E-Journal™. The interview touches on the critically important role review contributes to risk management and mitigation for many clients/users of appraisal services, including attorneys, bankers & lessors, CPAs, Departments of Government,…Read More
Opening up Restricted Reports
This past year we did a number of Restricted appraisal reports. All of them were for business owners, of course, and mostly for buy/sell/exchange scenarios. One was a manufacturing facility to be transferred from a retiring father to his in-charge son; another was a food processing plant for the purpose of assisting with an internal…Read More
Lightening Complex: Fire Insurance Claims
The LNU, CZU, and SCU wildfire complexes and the River Fire in the Monterey area are ravaging California. In our area (LNU), many friends and neighbors have been evacuated; across the state, so many people have lost homes and businesses. Our hearts go out to everyone affected and we hope that these fires will be…Read More
Financial Reporting Appraisals: Acquisition Accounting
One of my favorite accounting professors, Dr. Larry Watkins, PhD, CPA, retired last year from Northern Arizona University, where I took many accounting courses before finishing up & graduating from Arizona St University in Tempe. In the years after I got my ASA and before he retired, we got together a few times for what…Read More
Appraisals in the Time of Pandemic
The evening of March 12, we were on a mostly empty flight back from Pittsburgh, PA where we’d spent 4 days inspecting a chain of grocery stores for a buy/sell agreement. The TP and hand sanitizer sweep began while we were there, as the Allegheny County Health Department confirmed COVID-19 cases in the area. On March 13, as you may remember, a…Read More
Appraisal Review Risks and Rewards
The American Society of Appraisers recently posted an excellent discussion of appraisal review practice by our ARM colleague Mark Penny, ASA, ARM-BV, BV-IA. Mark’s article is primarily for appraisers who perform review work or are interested in doing so. It’s also an interesting read for those who might need an appraisal review. Lawyers often need…Read More
Stories of Value: Appraisal Podcast from ASA
The American Society of Appraisers (ASA) released an interview with me for the fourth episode of their new podcast ASA Stories of Value. While appraisers do maintain confidentiality regarding clients and valuations, some stories are worth sharing. This appraisal podcast takes a look at the human side of the appraisal profession. Interviews with industry leaders…Read More
State Board of Equalization Equipment Appraisal Presentation
At the State Board of Equalization meeting Friday, December 6, 2019, I served as one of five panelists for a discussion of Assessment of Personal Property & Fixtures: Ensuring Accurate & Consistent Valuations & Application Methods. The other equipment appraiser on the panel was my colleague Garret Schwartz. Panelists affiliated with the assessor’s office were…Read More
Case Study: Purchase Price Allocation for a Legacy Food Processing Facility
In an equipment appraisal for financial reporting purposes, the initial rough numbers were almost twice the purchase price. Because the enterprise had been on the market for a number of years and the purchase was an arm’s length transaction, that big difference between the preliminary calculation and the purchase price didn’t make sense … until…Read More
ASA International Appraisers Conference 2019
At this year’s ASA 2019 Advanced Business Valuation & International Appraisers Conference, Appraisal Review & Management (ARM) is sponsoring some great presentations. I worked with attorney Angela Somers on a complicated case that recently settled, and I’m especially excited to hear her presentation on Valuation in Litigation: Destruction of the Company Damages. Other presentations from ARM How to Have More Influence…Read More
Case Study: Functional Obsolescence in Glass Coating Equipment
Functional obsolescence took center stage in a recent property tax appeal situation. In particular, we analyzed how the development of new technology influences the value of older, less advanced equipment–in this case, glass coating machines–and how the resulting loss of value due to functional obsolescence is calculated according to best practices, or valuation standard of…Read More
3 Red Flags in Machinery & Equipment Appraisal Reports
I recently submitted a few examples of Machinery & Equipment Review problems–along with a sample review report–to an overseas valuation organization that’s putting together an in-house manual for its members. What’s interesting to me is that although this organization follows IVS instead of USPAP, is governmentally regulated in a way that ASA equipment appraisers are…Read More
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