Discounts in Marital Dissolution Business Valuations – To Discount or Not

After 15 years of marriage, Art and Wanda were getting divorced.  Among all the assets that had to be distributed was the family business, a heating, ventilation and air conditioning repair company.  Husband was the operator of the business.  Wife took care of the kids and managed the household.  Now Husband was faced with having …

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The differences between GAAP, cash basis and modified cash basis of accounting

Generally Accepted Accounting Principles in the U.S. (GAAP) are just that – generally accepted. However, it’s not the only choice of accounting basis available to nonprofit organizations, and many organizations select another basis of accounting. There could be many reasons for presenting a different basis, one being that it may be more in line with …

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