Determining a fair share.
Journal of Accountancy - Vol. 174 Nbr. 5, November 1992
Dennis, Anita
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Valuing businesses
Gary Trugman began a lucrative career as a business appraiser after his divorce revealed the need for a professional who is able to value businesses. Trugman's practice began as a standard accounting firm and is now able to support itself completely with valuation services, 80% of which concern divorce cases and the rest are damages litigation and stockholder disputes. Education in valuation sciences is important to establish credentials in court cases and the Institute of Business Appraisers and American Society of Appraisers offer courses while the AICPA is developing one.Determining a fair share.
Ferreting out a business's proper value is the basis for one successful CPA practice.
Gary Trugman's career in business valuation began during his own divorce. Trugman had worked for small CPA firms and as a company controller before buying a traditional accounting services practice in northern New Jersey from a relocating CPA. After he'd been in business two years, he went through a divorce and his attorney asked him how much his practice was worth. "I haven't a clue," Trugman admitted. The attorney explained the effect of the state's equitable distribution laws and strongly suggested that Trug...Try vLex for FREE for 3 days
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