Filling the apparent gap in the existing collection of valuation and corporate finance textbooks, this book systematically goes beyond total business value assessment and addresses the practical issues regarding total asset value allocation which have huge tax, duty and commercial consequences. The 2nd Edition of this book contains two new chapters, one of which evaluates the implications of the landmark High Court decision in Commissioner of State Revenue v Placer Dome Inc [2018] HCA 59 for the topical issue of goodwill valuation. The new edition also includes updates on the existing chapters to reflect new relevant valuation developments.
The conceptual frameworks developed in this book, despite their focus on capital intensive businesses employing specialised fixed assets, can also provide guidance for value assessment and apportionment in different types of businesses or in different tax contexts.
Many of the issues raised in this book are at the cutting edge of valuation thinking. They reflect the evolving nature of the valuation body of knowledge and the need for valuers to continuously re-evaluate the existing body of knowledge, particularly in the face of diverse practical circumstances, and apply the broadened or updated knowledge to re-assess and improve existing valuation practices.
