June, 2021

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Pandemic Performance: Preparing for Financial Discussions

Business Sales M&A

As I speak to owners about selling their business this year, after sitting out from doing so during the pandemic, I tell them that based on how the business performed during the pandemic, they will have to confront two questions from buyers. 1. Your business decreased in 2020. If you think it was due to the pandemic, when do think they will return to 2019 levels?

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Transcending Value – Liquidation, Monetary, Financial, and Strategic Value

Value Scope

Transcending Value – Liquidation, Monetary, Financial, and Strategic Value Blog 2 of 4: This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.

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Trending Sources

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Five signs you’re ready to be your own boss

ThomsonReuters

Starting your own CPA firm may seem like a distant fantasy, but with barriers to entry lower than they’ve ever been, it could be closer than you think. If you’ve been wondering if it’s time to break free, here are five signs that you’re ready to be your own boss. You have the experience. Most small CPA firm owners have years of experience working for larger firms and find themselves wanting to utilize that experience to serve clients in their own way.

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Affiliate Website Valuation: What’s Your Affiliate Site Worth?

FE International

This article is part of our? Valuation by Business Model ?series, in which we provide you with information on what makes your particular business model unique when it comes to valuation. For more in-depth reading on valuation, see our post How to Value a Website or Internet Business. To get a valuation from our expert team,? click here. Affiliate Site Market Update .

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Pre vs. Post-Money Valuation: Definition & Example [Free Template]

Sharp Sheets

Valuing a startup is a challenging exercise, and an important one too. The result of a negotiation between founders, existing investors and new ones, setting a valuation for your startup will define the level of ownership you will keep after your fundraising. Yet, many entrepreneurs get confused by the difference between pre vs. post-money valuation.

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Media Mention: An M&A Talent Bubble Is Forming. What Happens When It Pops?

Cooley M&A

“The sustained surge of M&A activity, SPACs, de-SPACing and IPOs has major dealmakers scrambling to find enough associates to staff their deals, risking burnout for the associates they do have on staff.” Cooley partner and M&A co-chair Jamie Leigh was quoted in this American Lawyer article on M&A trends. Read the full article here (subscription required).

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More Trending

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Transcending Value – Liquidation, Monetary, Financial, and Strategic Value

Value Scope

Transcending Value – Liquidation, Monetary, Financial, and Strategic Value Blog 2 of 4: This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.

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Artificial Intelligence is Revolutionizing Schedule K-1 (Form 1065)

ThomsonReuters

Each year, more than 40 million Schedule K-1 (Form 1065) are sent to US taxpayers, reporting income and other financial information stemming from their participation in partnerships, S corporations, and trusts. Unlike W-2 forms and other IRS-mandated documentation, however, K-1s needn’t be produced in a standard format, so they come in a variety of formats and may include unstructured data, free-form text, footnotes, statements, and disclosures.

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Manolete appoints new chairman

Accountancy Today

Manolete, an insolvency litigation financing company, has announced the appointment of Lord Howard Leigh of Hurley as senior independent director and chairman designate succeeding Peter Bertram who will retire. Leigh is a qualified chartered accountant, he set up Cavendish Corporate Finance LLP in 1988 and still remains a senior partner. In 2000, he was appointed as the chairman of the faculty of corporate finance of the Institute of Chartered Accountants in England and Wales (ICAEW).

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Delaware Court of Chancery Decision Provides Guidance on M&A Earnouts

Shephard Mullin M&A

In Shareholder Representative Services LLC v. Albertsons Companies, Inc. , 2021 WL 2311455 (Del. Ch. June 7, 2021), the Delaware Court of Chancery (Slights, V.C.) provided key guidance on mergers and acquisitions (“M&A”) earnout disputes regarding contractual earnout language, the applicability of the implied covenant of good faith and fair dealing, extra-contractual discussions and promises and post-closing behavior of the acquirer.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Media Mention: Domestic M&A Retreats in First Quarter After Dealmaking Wave at the End of 2020

Cooley M&A

“During the first quarter, domestic M&A – where UK companies acquire other UK companies – was worth £3.8bn, a decrease of £5.3bn from the previous quarter last year, according to figures published by the Office for National Statistics.” Michal Berkner was quoted in this City A.M. article on M&A trends. Read the full article here.

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Mobile App Valuation: How Much Is Your App Worth?

Sharp Sheets

Whenever you are about to go meet investors to raise venture capital, you will be facing a very crucial task: finding a valuation for your mobile app business. The valuation, an agreement between you and your investors on how much your business is worth today, will ensure both parties get a fair deal. More importantly, it will dictate how much equity ownership you are selling to investors as part of the round, and therefore what is your corresponding dilution.

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Transcending Value – Liquidation, Monetary, Financial, and Strategic Value

Value Scope

Transcending Value – Liquidation, Monetary, Financial, and Strategic Value. Blog 2 of 4: . This is the second in a series of blogs that attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others.

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EEOC Gives Green Light to Employers’ COVID Vaccine Incentives, With Important Caveats

ThomsonReuters

What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws (May 28, 2021). Available at [link]. The EEOC has updated its guidance on COVID-19-related compliance issues under the ADA, GINA, and other employment laws. In addition to modifying and expanding earlier guidance on employer vaccination programs, the updated guidance adds six Q&As addressing ADA and GINA considerations for employer-provided COVID-19 vaccination incentives for employees and their fami

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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BHP Corporate Finance reveals two new promotions

Accountancy Today

BHP Corporate Finance has announced the promotions of Will Holmes and Juel Chowdhury to director and manager respectively. Holmes joined the firm in 2015, having worked his way quickly through the various levels. In his new role, he will lead transactions and provide proactive deal advice to clients. The promotion will now mean that the 20 strong team of advisers at the firm will consist of 12 senior personnel made up of six partners and six directors.

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Independence Matters Every Day in Business Valuations

Merrimack Business Appraisers

As July 4th approaches, Americans seem poised to celebrate Independence Day with more spirit than ever. Yet, here at Merrimack Business Appraisers, independence holds meaning for us all year long. In order to promote and preserve the public trust, our appraisal practice observes the highest standards of professional ethics, including an unwavering commitment to independence. […].

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Valutico wins SelectUSA Fintech pitching competition

Valutico

???????? Proudly announcing the 2021 SelectUSA Tech Pitching winners – our very own Austrian start-ups Tonio – tone with information for E-Commerce and Valutico for FinTech! What tremendous successes against fierce competition from more than 2??0??0?? start-up competitors worldwide. Congratulations Florian Novak , Stephan Karner , and Paul Resch, CVA for your innovative solutions are clearly poised for success in the U.S. market!

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Ecommerce Valuation: How To Value Your Ecommerce Business?

Sharp Sheets

In this article we explain you how to assess an accurate valuation for your business, whether you have a Shopify store, Amazon FBA business, or any type of e-commerce shop. The post Ecommerce Valuation: How To Value Your Ecommerce Business? appeared first on SharpSheets.

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The Rise of SPACs: IPO Disruptors or Blank Check Distortions?

Musings on Markets

For decades, the process that companies in the United States have used to go public has followed a familiar script. The company files a prospectus, providing prospective investors with information about its business model and financials, and hires an investment banker or bankers to manage the issuance process. The bankers, in addition to doing a roadshow where they market the company to investors, also price” the company for the offering, having tested out what investors are willing to pay, and

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Former Employee’s Recollection of “Christmas Card List” Was Insufficient to Defeat COBRA’s Small Employer Exception

ThomsonReuters

Gorman v. Acteon Networks, LLC, 2021 WL 2156359 (E.D. Pa. 2021). Available at [link]. As part of an employment discrimination lawsuit, a former employee claimed that her employer improperly discontinued her medical benefits in violation of COBRA. The employer asked the court to dismiss the claim, arguing that it did not have enough employees to be covered by COBRA.

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Del. Appraisal Case Awards 2.6% Premium to Merger Price

Appraisal Rights

This newest piece from Law.com [$$] analyzes the most recent appraisal decision from the Delaware Chancery Court, Regal Entertainment Group , in which the court awarded stockholders a 2.6% premium to merger price. The valuation determination followed from the court’s pegging Regal’s fair value to merger price less synergies, while adding back the increase in value arising between the signing and closing of the merger agreement with Cineworld that resulted from the reduction in the corporate tax

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Past Event: Venture Capital & Private Equity Conference Series Session 4

Cooley M&A

Partners John McKenna and Luke Cadigan joined PwC to discuss SPACs, tax, audit, legal, and other relevant topics for finance and legal professionals at venture capital and private equity funds. This event took place on Tuesday, June 22, 2021 at 11:00 AM PDT. Click here to register and view the recorded event. John McKenna. Luke Cadigan.

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EACT SURVEY 2021

Simply Treasury

Every year, EACT launches a treasury survey to identify top priorities for Corporates. It also aims at identifying challenges corporate treasurers of MNC’s are facing and technological innovations they intend to implement. As this survey is the first one post-COVID, it was interesting to see whether those priorities have changed and if they did why.

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Keys to Maximizing Value in Food & Beverage M&A Transactions

Shephard Mullin M&A

This article originally published on Food Manufacturing.com on June 1. 2020 was an up-and-down year for mergers and acquisitions in the food and beverage industry. With the onset of the COVID-19 pandemic in the first half of the year, deal making activity was largely put on hold. In the second half of the year, however, M&A activity resumed in force such that the total number of food and beverage transactions for 2020 actually ended up slightly exceeding 2019.

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Good buyers like having an M&A professional on the seller’s side

IBG Business

A steady hand on the wheel: Involving an M&A professional to represent the seller is good for both sides. Sophisticated buyers know that going in, and successful sellers learn that, to their lasting benefit, on the way to the finish line. Why? See Jim Afinowich’s 2-minute YouTube video. In today’s market, 70% of buyers are financial buyers – family offices, private equity groups, or perhaps synergistic buyers.

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Last Week in Payroll: Localization of Work

ThomsonReuters

Localization of Work. In May of 2004, the U.S. Department of Labor (DOL) issued Unemployment Insurance Program Letter (UIPL) 20-04 to state workforce agencies regarding the localization of work provisions. The UIPL discusses the principles for determining where wages should be reported when work is performed entirely in one state or in a number of different states.

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Real-Time Payments

Essentials of Corporate Finance

Many of you are probably familiar with near instantaneous money transfers using Venmo or Paypal. And while we discussed next-day ACH transactions in the textbook, in 2017, an interbank payment system was unveiled, the real-time payment (RTP) network. While only 130 banks out of the more than 9,600 financial institutions in the U.S. have adopted the system, these adopting banks cover 60 percent of demand deposit checking and savings accounts.

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Past Event: M&A Dealmakers Roundtable: Tech M&A Outlook for a Post-COVID World

Cooley M&A

How has dealmaking changed in the last 18 months? Have we developed new playbooks or best practices? Will the market continue to accelerate through 2021 and beyond? What does all of this mean for the wider tech sector? Seasoned M&A dealmakers met on June 30, 2021 for a discussion on current trends and what’s next in tech M&A dealmaking. Topics include.

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Hedging or de-hedging, that is the question…

Simply Treasury

Delay in FX hedging, accounting treatment. The accounting treatment of currency hedging (timing) mismatches remains a major problem that has become more acute in the wake of the health crisis. Many companies have suffered from the effects of the crisis and the drop in their sales, or sometimes they have simply experienced delays in delivery from their suppliers or payment from their customers.

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SPAC FAIRNESS OPINION

The Mentor Group

A SPAC is special purpose acquisition company designed to expedite a merger of a target seller into a publicly traded entity. The incredible expansion of SPAC funds has somewhat saturated U.S. markets; these funds are now broadening into foreign markets. In the first four months of 2021, more than 200 SPACs has raised nearly $90, billion already surpassing the prior record for all of 2020 at $82 billion.

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9 Factors that Influence Company Valuation

Quantive

Have you ever wondered what your company is worth and whether your […]

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May Employers Use Health Plan Claims Records to Determine Whether Employees Have Received COVID-19 Vaccinations?

ThomsonReuters

QUESTION: We require employees to submit proof of a COVID-19 vaccination before returning to work in our office. May our Human Resources Department confirm employees’ eligibility to return by checking COVID-19 vaccination claims submitted to our group health plan? ANSWER: The group health plan’s records generally should not be used to verify employees’ vaccination status for any employment-related purpose.

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Green Bonds?

Essentials of Corporate Finance

During 2020, a record $270 billion in green bonds were issued, and green bond issuance is on pace to surpass that record this year. And while we discussed covenants and the ability of bondholders to undertake legal action against the bond issuer for violating these covenants, as a recent article in the Wall Street Journal highlights, green bond investors have little to no recourse if the bond issuer does not use the bond proceeds for green projects.

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Influence 101: How to Drive Change in Your Tax and Accounting Firm

ThomsonReuters

If the pandemic has taught us anything, it’s that changing people’s minds and behavior is difficult. No one enjoys being told what to do or feeling powerless. How then can IT leaders in large tax and accounting firms best make their case for new technology? “Getting people to change is a huge hurdle with firms. For most people in accounting firms, driving change, and leading people through change is not a natural skill set for them.