At Greene Valuation, our experience working with and in CPA firms runs deep. Our principal has served as the director of business valuations for a large regional New York CPA firm. Responsibilities included reviewing outside appraisal reports for attest clients, since CPA firms can be prohibited from preparing valuation report for their own attest clients. These reports presented for review include those submitted for approval by other appraisal and CPA firms including “Big Four” CPA firms.
We have developed audit programs that apply AICPA standards and have submitted reports to other CPA firms including the “Big Four.” In this capacity, we have worked closely with quality control and review departments. Some appraisal firms suggest they have insight into what auditors expect in their reports. We, however, feel truly and uniquely qualified in this role because of our experience.
When the impact of the changes in ASC 802 (formerly 141R) were first being considered for 2009 year-end audits, the quality control departments of the major midsize New York City CPA firms called on Greene Valuation to advise them on these changes.
We provide the following financial reporting services:
- Purchase price allocation ASC 805 (formerly SFAS 141R)
- Goodwill and intangible asset impairment testing ASC 350 (formerly SFAS 142)
- Long-lived asset ASC 360 (formerly SFAS 144)
- Stock based compensation ASC 718 (formerly SFAS 123R)
- Computation of complex capital structures including series of preferred stock
- Valuation of investments
Goodwill and intangible asset impairment testing ASC 350 (formerly SFAS 142)
Generally, business appraisal reports will only present a single value to show that the client’s market value exceeds its book. At Greene Valuation, we can provide a probability weighted conclusion associated with our appraisal to show the likelihood that the company market value could exceed the book value. For example, if book value is $6 million and our appraisal is $6,500,000, what is the likelihood that the company exceeds the book value? This more sophisticated reporting is actually addressed by the SFAS, but frequently ignore.
