Today, there are many fine business valuation textbooks available to the professional business appraiser for guidance and support. The purpose of these publications is to equip the readers with the methodology, techniques and models necessary to produce a credible valuation opinion and report.
One of the resources now available to the business appraiser is the recently published third edition of Business Valuation: An Integrated Theory (BVIT) by Z. Christopher Mercer and Travis W. Harms. While BVIT is also general business valuation textbook, one element which separates this treatise from the others is its emphasis on the theory that justifies the valuation methodologies it teaches.
More than just credible, appraisers want their work to be found persuasive. But, what makes a report persuasive? Certainly, correct usage of models, mathematical accuracy, and report organization and readability are essential. Without these elements, the report loses its credibility in the eyes of...