Resources for Business Valuation

The Appraisal Foundation is a multi-disciplinary organization and offers these resources for those practicing in the area of business valuation, intangible assets, and valuation in financial reporting (VFR).

For those looking for specific guidance on VFR practices, visit the Valuation Advisories webpage for more information on topics that were adopted and/or are currently in development. 

Business Valuation Resource Panel

The purpose of the Business Valuation Resource Panel (BVRP) is to provide a permanent assembly of representatives from diverse sub-specializations within the business valuation discipline so The Appraisal Foundation's Board of Trustees:   

  • has a centralized ongoing communication with representatives from the business valuers; and

  • benefits from information, advice and recommendations on relevant business valuation issues.

Activities of the BVRP include the agenda development for the Business Valuation Roundtable series, work with The Appraisal Foundation Consumer Affairs Committee, and other special projects.

The BVRP is currently composed of 12 members (listed below) who are elected to the panel and includes those currently serving on The Appraisal Foundation's Boards.  

2018 BVRP Members

Michael Binz, Chair 
 Deloitte Financial Advisory Services LLP
Chris Rosenthal, Vice Chair     Ellin & Tucker
Tom Ryan, Immediate Past Chair 
 USC Leventhal, Professor of the Practice
Tony Aaron  USC Adjunct Professor
Nancy Czaplinski  Duff & Phelps
Mark Hanson  Schenck SC
Lari Masten   Masten Valuation LLC
Cherin Mooradian  Strategic Valuation Advisors LLC
PJ Patel  Valuation Research Corporation
Andrew Pike  Pike & Zijlmans
Linda Trugman  Trugman Valuation Associates, Inc
Donna Walker  Columbia Financial Advisors. Inc.
Dayton Nordin  Ernst & Young, Board of Trustees Liaison 


Appraisal Issues Task Force 

The Appraisal Issues Task Force (AITF) is a voluntary group of valuation professionals who specialize in the field of valuation for financial reporting and who seek to improve the practice.  The Financial Accounting Standards Board (FASB) and the U.S. Securities and Exchange Commission (SEC) are increasingly looking for information regarding Fair Value or Fair Market Value, yet there is a lack of authoritative guidance on best practice in these areas.  The AITF is designed to help establish and interpret existing rules specific to valuation for financial reporting. Further, it works with the FASB and the SEC to evaluate proposals and recommend methodology, assumptions, and approaches.  This is an industry-wide consortium, and everyone's views are important and welcome.  The AITF usually meets annually in Washington, DC in January, May and September. 

The Appraisal Foundation provides administrative support to the AITF. For more information on AITF membership, please contact Arika Cole at

In 2006, the AITF developed the following resource for Business Valuers:  Illustrative Valuation Issues as developed by the Appraisal Issues Task Force (AITF).

Today's Business Valuation Community

In 2015, the Business Valuation Resource Panel performed a survey of the Business Valuation Community. The  results were compiled from the 1,151 individual responses. A summary of the survey results is available. Complete survey results may be reviewed by appointment at The Appraisal Foundation headquarters.