The 2023 AICPA Business Valuation Conference and One Thought on Valuation Adjustments
Chris Mercer
NOVEMBER 15, 2022
I have heard many appraisers suggest that one should not normalize owner compensation when valuing minority interests “because the minority shareholder cannot change compensation.” Otherwise, the appraiser is not valuing the appropriate asset. million based on normalized EBITDA. million ($29.0
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