Financial Valuation of Employee Stock Ownership Plan Shares - Hardcover

Über die Autorin bzw. den Autor

LARRY R. COOK, CPA, ABV, CBA, is a financial advisor actively engaged in providing business valuation and succession planning, including wealth management, asset protection, and related services, to the private business owner. He has participated as a course instructor on a wide range of subjects in the valuations area and has participated as a speaker at national conferences on programs specific to business valuation. He currently serves as a committee member on the AICPA Business Valuation/Forensic Litigation Services Executive Committee, and on the North Harris-Montgomery County Community College advisory board. He is former president of the Financial Consulting Group and former chair of the Accredited in Business Valuation (ABV) Credential Committee for AICPA, as well as a member of the Board of Directors of the Texas Society of CPAs. He has provided expert testimony in a variety of areas and has engaged clients in the sale, merger, and acquisition of business and business interests. He is the author of the "ESOP Valuation" chapter in Financial Valuation: Applications and Models (Wiley).

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An indispensable road map to the financial valuation of ESOPs

A must-read for accountants and professionals with a business valuation accreditation or certification, pension actuaries, ERISA lawyers, Financial Valuation of Employee Stock Ownership Plan Shares identifies, explains, and explores:

• The ins and outs of ESOPs, with a focus on what benefits a company/shareholder/plan participant would receive by transacting shares of stock with an ESOP
• The formula for an Employee Stock Ownership Plan
• Stock incentives and their attractiveness to employees
• The nature and function of ERISA, Department of Labor, and IRS, including training material and the full text of Department of Labor proposed regulations
• Details of important court cases, with differences in methodologies and interpretations evaluated by their respective pros and cons
• Various examples and illustrations to be used as reference and research tools for the experienced and trained valuation professional

Aus dem Klappentext

It is estimated that more than 20 million employees currently hold stock in their companies through a variety of benefit options, including employee stock ownership plans (ESOPs), broadly granted stock options, or 401(k) plans with heavy concentrations of employer stock. As more companies offer these valuable opportunities to employees, it is important for business appraisers, accountants, pension actuaries, Employee Retirement Income Security Act (ERISA) lawyers, and business leaders to understand both the implications of such processes and the valuation of companies with employee stock ownership plans.

Financial Valuation of Employee Stock Ownership Plan Shares explains the unique considerations specific to the valuation of equity interests for ESOPs of private companies, including:

• Entity structure
• Tax incentives
• Put rights
• Repurchase obligations
• ESOPs with debt
• Adjustments for voting power and market liquidity for shares

Financial Valuation of Employee Stock Ownership Plan Shares is a complete reference and research guide to valuation of transactions with stock incentives and ESOPs. It's packed with useful and practical coverage of:

• The ins and outs of ESOPs, including company and shareholder benefits of selling to an ESOP
• Thorough descriptions of stock incentives and their attractiveness to employees
• The nature and function of ERISA, Department of Labor, and IRS, including training material and Department of Labor proposed regulations
• The pros and cons of different methodologies and interpretations used in important court cases

Useful, complete, and thoroughly practical, Financial Valuation of Employee Stock Ownership Plan Shares provides business appraisers with the underlying logic, theory, laws, and principles for the financial valuation of private businesses.