ACC576 ... Shannon, Donald S.

VALUATION PRACTICES

COURSE SYLLABUS

 DESCRIPTION

TEXTS

 

PART I - LECTURES & CASES

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TOPIC

READING ASSIGNMENTS

1

Sources of Knowledge

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Business Valuation Overview

Text: 1.02, 1.03, SB-Ch1

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Using DePaul's Library Resources

  • Academic & Practitioner Journals
  • Tax Information & Cases
  • Relevant Valuation Information

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Importance of Valuation for Federal Tax

Text: 1.01 [1], [2], [3]

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Fair Market Value Defined

Text: 2.01 [1], [2], [3]

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Using the Internet to Obtain Information

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2

Relevant Revenue Rulings

Rev Ruls: RR 59-60, 65-192, 65-193, 68-609,77-287, 80-213, 83-120, 85-75, 93-12

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Fair Market Value Cases

Court Cases: ADAMS, DEES, FIRST NATIONAL, ITHACA, NECASTRO, PALMER, SERDAR, WEITZ, WILTSHIRE

3

The Income Approach

Text: 3.05, SB-Ch3

Lecture Notes: INCOME APPROACH

Practice Case: Starlites, Inc.

4

The Market Approach

Text: 3.03, 3.04, SB-Ch4

Lecture Notes: MARKET APPROACH

Practice Case: Jason Sport's

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The Asset Based Approach

Text: 3.02, 3.06, SB-Ch5

Lecture Notes: ASSET BASED APPROACH

5

Discounts & Premiums

Text: 4.01, 4.02, 4.03 [1], [3], [4], [5]

Lecture Notes: DISCOUNTS & PREMIUMS

Article: Pratt, Shannon, Discounts and Premia, 1989

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Discussion of Selected Cases

Court Cases: AHMANSON, BERG, BRIGHT, EISENBERG, FURMAN, JAMESON, JUNG, MANDELBAUM, NEWHOUSE, O'KEEFFE

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Discussions 1 & 2

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Discussions 3 & 4

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Discussions 5 & 6

Practice Case: Truck Bedliners, Inc.

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Discussions 7 & 8

See: Topics to be discussed.

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Discussions 9 & 10

See: Topics to be discussed.

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 PART II - DISCUSSIONS & PAPERS

 

PROTOCOLS

  1. SELECT THE TOPIC:
  2. On or before the second meeting of class each student will submit a brief written description of his or her proposed topic. Topics will be approved on a first-come, first-serve basis. As soon as a topic is approved it will be posted on the current schedule of topics.

  3. SEARCH THE LITERATURE:
  4. On or before the third meeting of the class each student will conduct a computerized literature search using a variety of the DePaul Library Research Tools.

  5. PROVIDE AN ANNOTATED BIBLIOGRAPHY:
  6. Provide the instructor with a computer readable, & printed, annotated bibliography in the same format as the selected annotated bibliographies shown on this web site. The bibliography should contain ten or more articles related to their topic. As soon as possible the new items will be added to the list of current annotated bibliographies.

  7. SELECT REQUIRED ARTICLES:
  8. The student, after consulting with the instructor, will select two articles as required reading for the entire class.

  9. PREPARE QUESTIONS AND SPECIAL INSTRUCTIONS:
  10. The student will identify a number of questions, which the other participants should focus on as they complete the required reading. Any special instructions, which might facilitate the effort of the other participants, should be included along with the questions. (Special instructions might include recommending the scanning or ignoring a particularly technical section of an article, or calling attention to a section, which might be especially clear.)

  11. DISTRIBUTE MATERIALS:
  12. The session before a particular discussion is scheduled the student will distribute to each of the other class members: (1) copies of the two required articles, (2) a copy of the annotated bibliography, and (3) the selected questions and special instructions.

    IMPORTANT > Sometimes articles downloaded from the web are not complete reproductions. DISCUSSION LEADERS MUST MAKE SURE THAT ALL ARTICLES DISTRIBUTED TO THE CLASS CONTAIN ALL THE FORMULAS, TABLES, GRAPHS AND OTHER EXHIBITS WHICH APPEAR IN THE PRINTED JOURNAL.

  13. LEAD THE DISCUSSION:
  14. The discussion leader(s) should attempt to lead a discussion, ... not make a presentation. Certainly, it is appropriate to introduce the topic. (This should include an explanation for the leaders' interest in the topic.) However, every effort should be made not to let the introduction take up the entire allotted time. The leader(s) should try to refrain from telling the class about the topic. The participants are sophisticated individuals attempting to digest sophisticated studies. Surely all of their impressions and interpretations will not be the same. All of them will not be in agreement. The leader(s) should ask various members of the class to express their views. After asking one question, follow-up questions should be posed, to bring out the differences of opinion and to press for clarification.

  15. WRITE AND DISTRIBUTE A PAPER:

The discussion leader(s) will distribute to each of the other class members a paper of about fifteen double-spaced pages. The author(s) should clearly identify the questions that motivated the paper. The author(s) should not focus only on the articles discussed in class but should offer a clear summary the content of all the articles shown in the bibliography. After capturing the views found in the professional/academic literature, the author(s) should end with a clear statement of their concluding opinions.

 

 

SOME POSSIBLE TOPICS

 

GRADING

 

CLASS PARTICIPATION

    1. the student does not complete, on a timely basis, any one of the seven steps for the discussion/ paper, or
    2. the student does not attend one of the discussions.

 

OTHER INSTRUCTOR RESPONSIBILITIES