I’ve been thinking about the meaning of a simple word, margin, in our lives. Last week, I wrote the first in what will be a series of posts on this topic. It was titled Do You Have Margin in the Important Areas of Your Life? And so we continue a discussion of the concept of margin in life, this time, focusing on early lessons from my father.
We live life now, at the margin between the past and the future. What we do at this margin impacts our futures. What we have done or have not done in the past influences, or creates, the options we have now in our lives, or at the margins. In other words, the margins that we create in various areas of our lives impact or influence what we can, will, or won’t do each day.
On November 4, 2016, I will be speaking at the AAML Annual Meeting addressing a topic that is near to my heart as a business appraiser: An Integrated Theory for the Major Valuation Issues of Today. While each of these issues is worthy of hours of coverage, I provide an overview these issues in my post today.
Finishing the series on a growing professional, we continue our discussion using the acrostic of “RISK.”
We introduced the concept of what I call the growing professional last week. But what does a growing professional look like compared to other professionals? And what is the mindset of a growing professional, which informs the active steps he takes?
I was asked to prepare a short talk for the celebration of the 500th webinar event of Business Valuation Resources. I chose the topic, “Expectations of a Growing Professional.” This is a topic I’ve addressed before in a few outside talks and internally at Mercer Capital. In this post and two more in the near future, I’ll share the gist of my thoughts on the webinar yesterday.
Recently, an attorney and financial planner called me to talk about a client who was discussing his ownership, management succession plans, and the life insurance associated with his “planning.” During our two-hour discussion, I learned about the client’s situation and was able to offer potential modifications to his current transition plan.
Last week, I attended the joint AICPA/AAML and spoke on Friday. I spoke on the topic of buy-sell agreements and related the subject matter to divorce, as divorce is a frequent trigger event in buy-sell agreements. I also participated in a panel labeled the Battle of New Orleans 2016. This post recaps some speaking highlights of my time in New Orleans.
When I began testifying, I looked for guidance, which I found in the booklet, “Testifying with Impact,” by a former professor and speech coach. Foremost, I learned the objective of testimony is not to read words or testify without notes, but to communicate thoughts, ideas, and knowledge. In this post, I reflect on the other simple but powerful lessons I learned from this booklet.
We continue with our discussion of getting command of the numbers by discussing income statement adjustments. Normalizing adjustments are made in valuations to separate unusual or non-recurring or management discretionary items of income or expense on the income statement. The objective of normalizing adjustments is to develop historical, adjusted income statements and percentage income statements that can be used in the valuation process.
The following ten comments should provide a good overview of the concept of income statement (normalizing) adjustments for business appraisers and for attorneys.
