Shannon P. Pratt, CFA, FASA, MCBA, CM&AA, is the Chairman and CEO of Shannon Pratt Valuations, Inc. a premier business valuation firm located in Portland, Oregon, and is the founder and Editor Emeritus of Business Valuation Resources, LLC. Over a distinguished career of close to four decades, he has performed valuation engagements for M&A, ESOPs, gift and estate taxation, marital dissolution, shareholder oppression and dissent, and numerous other purposes. He has conducted numerous fairness and solvency opinions, has testified in a wide variety of federal and state courts across the country, and frequently participates in arbitration and mediation proceedings. Dr. Pratt is one of the most successful and respected authors in his field. He is the author or coauthor of several industry standards, including Valuing a Business: The Analysis and Appraisal of Closely Held Companies, Valuing Small Businesses and Professional Practices, The Market Approach to Valuing Businesses, Standards of Value, Business Valuation and Taxes, The Lawyer's Business Valuation Handbook, and Cost of Capital.

• Preface. Acknowledgments.Basic Formulas.Section One: Questions.PART I: BUSINESS VALUATION ENGAGEMENT ENVIRONMENT.Business Valuation Legal and Regulatory Environment.Business Valuation Professional Environment.Business Valuation Engagement.Litigation Service Engagements.PART II: TERMINOLOGY AND NOTATION.International Glossary of Business Valuation Terms.Notation System Used in This Book.PART III: VALUATION APPROACHES AND METHODS.Overview of Valuation Approaches and Methods.Income Approach: Cost of Capital.Income Approach: Discounting Method.Income Approach: Capitalization Method.Market Approach: Guideline Public Company Method.Market Approach: Guideline Merger and Acquisition Method.Prior Transactions, Offers, and Buy-Sell Agreements.Adjusted Net Asset Method.Excess Earnings Method.Discounts and Premiums.Reconciliation and Value Conclusion.PART IV: ANALYSIS OF THE COMPANY.Financial Statement Analysis.Using Economic and Industry Data.Site Visits and Interviews.PART V: SUPPORTING DATA.Sources of Supporting Data.PART VI: VALUATIONS FOR SPECIFIC PURPOSES.Tax-Related Valuations.Employee Stock Ownership Plans.Shareholder Buyouts and Disputes.Marital Dissolutions.Section 2: Answers.PART I: Business Valuation Engagement Environment.Business Valuation Legal and Regulatory Environment.Business Valuation Professional Environment.Business Valuation Engagement.Litigation Service Engagements.PART II: Terminology and Notation.International Glossary of Business Valuation Terms.Notation System Used in This Book.PART III: VALUATION APPROACHES AND METHODS.Overview of Valuation Approaches and Methods.Income Approach: Cost of Capital.Income Approach : Discounting Method.Income Approach: Capitalization Method.Market Approach: Guideline Public Company Method.Market Approach : Guideline Merger and Acquisition Method.Prior Transactions, Offers, and Buy-Sell Agreements.Adjusted Net Asset Method.Excess Earnings Method.Discounts and Premiums.Reconciliation and Value Conclusion.PART IV: ANALYSIS OF THE COMPANY.Financial Statement Analysis.Using Economic and Industry Data.Site Visits and Interviews.PART V: SUPPORTING DATA.Sources of Supporting Data.PART VI: VALUATIONS FOR SPECIFIC PURPOSES.Tax-related Valuations.Employee Stock Ownership Plans.Shareholder Buyouts and Disputes.Marital Dissolutions.CPE Self-Study Examination.Index.

Shannon P. Pratt, CFA, FASA, MCBA, CM&AA, is the Chairman and CEO of Shannon Pratt Valuations, Inc. a premier business valuation firm located in Portland, Oregon, and is the founder and Editor Emeritus of Business Valuation Resources, LLC. Over a distinguished career of close to four decades, he has performed valuation engagements for M&A, ESOPs, gift and estate taxation, marital dissolution, shareholder oppression and dissent, and numerous other purposes. He has conducted numerous fairness and solvency opinions, has testified in a wide variety of federal and state courts across the country, and frequently participates in arbitration and mediation proceedings. Dr. Pratt is one of the most successful and respected authors in his field. He is the author or coauthor of several industry standards, including Valuing a Business: The Analysis and Appraisal of Closely Held Companies, Valuing Small Businesses and Professional Practices, The Market Approach to Valuing Businesses, Standards of Value, Business Valuation and Taxes, The Lawyer's Business Valuation Handbook, and Cost of Capital.

• Preface. Acknowledgments.Basic Formulas.Section One: Questions.PART I: BUSINESS VALUATION ENGAGEMENT ENVIRONMENT.Business Valuation Legal and Regulatory Environment.Business Valuation Professional Environment.Business Valuation Engagement.Litigation Service Engagements.PART II: TERMINOLOGY AND NOTATION.International Glossary of Business Valuation Terms.Notation System Used in This Book.PART III: VALUATION APPROACHES AND METHODS.Overview of Valuation Approaches and Methods.Income Approach: Cost of Capital.Income Approach: Discounting Method.Income Approach: Capitalization Method.Market Approach: Guideline Public Company Method.Market Approach: Guideline Merger and Acquisition Method.Prior Transactions, Offers, and Buy-Sell Agreements.Adjusted Net Asset Method.Excess Earnings Method.Discounts and Premiums.Reconciliation and Value Conclusion.PART IV: ANALYSIS OF THE COMPANY.Financial Statement Analysis.Using Economic and Industry Data.Site Visits and Interviews.PART V: SUPPORTING DATA.Sources of Supporting Data.PART VI: VALUATIONS FOR SPECIFIC PURPOSES.Tax-Related Valuations.Employee Stock Ownership Plans.Shareholder Buyouts and Disputes.Marital Dissolutions.Section 2: Answers.PART I: Business Valuation Engagement Environment.Business Valuation Legal and Regulatory Environment.Business Valuation Professional Environment.Business Valuation Engagement.Litigation Service Engagements.PART II: Terminology and Notation.International Glossary of Business Valuation Terms.Notation System Used in This Book.PART III: VALUATION APPROACHES AND METHODS.Overview of Valuation Approaches and Methods.Income Approach: Cost of Capital.Income Approach : Discounting Method.Income Approach: Capitalization Method.Market Approach: Guideline Public Company Method.Market Approach : Guideline Merger and Acquisition Method.Prior Transactions, Offers, and Buy-Sell Agreements.Adjusted Net Asset Method.Excess Earnings Method.Discounts and Premiums.Reconciliation and Value Conclusion.PART IV: ANALYSIS OF THE COMPANY.Financial Statement Analysis.Using Economic and Industry Data.Site Visits and Interviews.PART V: SUPPORTING DATA.Sources of Supporting Data.PART VI: VALUATIONS FOR SPECIFIC PURPOSES.Tax-related Valuations.Employee Stock Ownership Plans.Shareholder Buyouts and Disputes.Marital Dissolutions.CPE Self-Study Examination.Index.