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CVA > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

What is RR 59-60 about?

A

Valuing closely held stock

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2
Q

What is RR 83-120 about?

A

Valuing preferred stock

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3
Q

What is RR 93-12 about?

A

Allowance of minority interest discount in family owned business

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4
Q

What is ARM 34?

A

Issued in 1920 (time of prohibition) method of determining intangible value. Formula method

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5
Q

What 2 key concepts did ARM 34 introduce?

A
  1. Goodwill exists if a business has excess earnings

2. Goodwill value is determined by capitalizing the excess earnings

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6
Q

What are the 4 key 59-60 methods?

A

Comparable price methods (market approach)
Asset method
Income method
Combined method (uses asset and income method)
no useful purpose is served by taking an average of several factors

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7
Q

What is RR 65-193 about?

A

Appraised value of the tangible assets minus the net book value of
such assets equals intangible value

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8
Q

What is RR 66-49 about?

A

Requires property prepared appraisals by qualified individuals

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9
Q

What is RR 68-609 about?

A

Excess earnings/treasury method, or safe rate or reasonable rate

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10
Q

What is RR 77-287 about?

A

Discounts for lack of marketability

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11
Q

What is RR 98-34 about?

A

Compensatory stock options

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12
Q

What is IRC 2703 about?

A

Outlines valuation rules for estate, gift, and other tax purposes

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13
Q

What is ASC 350 about?

A

Intangibles

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14
Q

What is ASC 805 about?

A

Business combinations

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15
Q

What is ASC 820 about?

A

Fair value measurement

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16
Q

What is IRC 338 about?

A

The 7 classes of assets (cash, A/R, inventory, goodwill, etc)

17
Q

What is IRC 6662 about?

A

Accuracy related taxation penalties

CVA (3 decks)

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