Organization

The study by Benjamin Hammer, Nils Janssen, and Bernhard Schwetzler is based on a dataset of 1,149 global private equity transactions. They find that cross-border buyouts are associated with significantly higher valuation multiples than domestic ones.

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The article by Achille Ekeu is about the newly created accounting metric called EBITDAC (Earnings Before Interests, Taxes, Depreciation, Amortization, and Coronavirus). This non-GAAP accounting metric is used by some companies to raise more debts from lending institutions by adjusting or recasting their financial statements to account for lost earnings incurred due to the coronavirus.

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The third Perspectives Paper is the final paper in its series looking at the subject of “Goodwill-Amortisation”.

The paper offers suggestions for enhancing the goodwill impairment framework in order to improve the information content.

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Part 1: Is goodwill a wasting asset with a readily determinable life, or an indefinite lived asset? (Link)

Part 2: Information Value of the Current Impairment Test: Leading or Lagging Indicator? (Link)

Newest edition of the Valuation Insights with a fokus on COVID-19.

Content:

• Cost of Capital and Other Valuation Considerations in the Current Environment
• Goodwill Impairment in the COVID-19 Environment
• Measuring Fair Value in Times of Significant Uncertainty
• Transfer Pricing and Supply Chain Planning During and After COVID-19
• Rethink Your Risk Assessment During COVID-19

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