Valuing Small Businesses and Professional Practices (Irwin Library of Investment & Finance)

The classic bestseller on estimating the value of small businesses and professional practices is fully updated and enhanced. While continuing to take readers step-by-step through the valuation process, it now features timely new or significantly revised chapters on valuation for estate plans, employee stock ownership plans, and corporate partnership dissolutions/buyouts. Along with case studies, it also offers greatly expanded coverage of data sources and their availability to small businesses.

Dr. Shannon P. Pratt is a managing director and one of the founders of Willamette Management Associates. Founded in the 1960s, Willamette is one of the oldest and largest independent valuation consulting, economic analysis, and financial advisory firms in the country. It has regional offices in Atlanta, Georgia; McLean, Virginia; Chicago, Illinois; San Francisco, California; and Portland, Oregon. In addition to this book, Dr. Pratt is the author of Valuing a Business, third edition, with Robert Reilly and Robert Schweihs, and co-author of Guide to Business Valuation, seventh edition. Dr. Pratt holds a doctorate in finance from Indiana University. He is a chartered financial analyst and a fellow of the American Society of Appraisers (the highest designation awarded by that society). Dr. Pratt is also editor-in-chief of Shannon PrattÕs Business Valuation Update, a monthly newsletter. Robert F. Reilly is a managing director of Willamette Management Associates. He holds a master of business administration degree in finance from the Columbia University Graduate School of Business and a bachelor of arts degree in economics from Columbia College. He is an accredited senior appraiser (certified in business valuation), a chartered financial analyst, a certified public accountant, a certified management accountant, and a state- certified affiliate of the Appraisal Institute. Mr. Reilly serves in an editorial capacity for, and is a regular contributor to, such professional journals as The American Bankruptcy Institute Journal and The Journal of Property Tax Administration. As an appraiser and economist, he has testified both in domestic and international courts on well over 100 occasions regarding the valuation of assets, properties, and business interests, and regarding various economic damage issues. Robert P. Schweihs is a managing director of Willamette Management Associates. He holds a master of business administration degree in economics and finance from the University of Chicago and a bachelor of science degree in mechanical engineering from the University of Notre Dame. He is an accredited senior appraiser of the American Society of Appraisers (certified in business valuation). Mr. Schweihs is a frequent speaker to professional societies and an author of articles on various aspects of business valuation. He is often called upon to testify in court on contested business valuation matters.