 Copyright
Disclaimer Dedication About the Author Acknowledgements Preface Glossary of Defined Terms  Chapter 1 – Valuation Terms and Principles
Chapter 2 – Business and Financial Analysis
Chapter 3 – Asset Valuation Methodologies
Chapter 4 – Multiple of EBITDA Methodology
Chapter 5 – Determining Valuation Multiples
 Chapter 6 – Capitalized Cash Flow Methodology
Introduction Mechanics of the Capitalized Cash Flow Methodology Overview Normalized Discretionary Cash Flow Normalized Maintainable EBITDA Income Taxes Sustaining Capital Reinvestment Tax Shield on Sustaining Capital Incremental Net Trade Working Capital Capitalization Rates Present Value of Existing Tax Pools Undepreciated Capital Cost (UCC) Income Tax Loss Carryforwards Other Income Tax Pools Deriving Equity Value Example of the Capitalized Cash Flow Methodology Background Information Valuation Determination Assets vs. Shares Example The Capitalized Cash Flow Methodology vs. the Multiple of After-Tax Cash Flow Methodology Common Deficiencies in the Application of the Capitalized Cash Flow Methodology Capitalized Earnings Methodology Components of the Capitalized Earnings Methodology The Capitalized Cash Flow Methodology vs. the Capitalized Earnings Methodology Example of the Capitalized Earnings Methodology Tax Issues in Privately Held Companies The Small Business Deduction Scientific Research and Experimental Development (SRED) Tax Credits Prospective Tax Rate Changes Capital Dividend Account (CDA) Refundable Dividend Tax on Hand (RDTOH) Multi-Divisional Businesses Head Office Costs Income Taxes Foreign Entities Foreign Exchange Considerations Rates of Return Taxation Sum of the Parts Preferred Shares Retractable Preferred Shares Redeemable Preferred Shares Convertible Preferred Shares Voting Preferred Shares Preferred Share Liquidation Premiums Preferred Share Valuation Based on Dividend Yield Participating Preferred Shares Dilutive Securities Options and Warrants Calculating the Dilutive Impact of Options and Warrants Convertible Securities Summary Chapter 7 – Discounted Cash Flow Methodology
Chapter 8 – Cost of Capital
Chapter 9 – Valuing Minority Interests
Chapter 10 – Open Market Transactions
Appendix A – Risk Assessment Framework
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