Are you lying to me? / Valuation of intangible assets / Statement on Standards for Valuation Services No. 1

• Are you lying to me? "Honey, you look great in that dress." "Grandma, you look beautiful today." "You look like you lost some weight." Everyone lies. According to a 1996 study, 72 college students reported telling two lies a day. Other studies indicate that we tell seven lies a day. Such lies include harmless "white lies" such as those listed above and may help hold our society together (and perhaps a few marriages).
• Valuation of intangible assets: Intangible asset valuations are often required for a variety of purposes, including bankruptcy and reorganization analysis, transaction pricing, and structuring and litigation. The three main approaches to valuing an intangible asset are the income, asset, and market approaches. The income approach is the most commonly used approach and can generally be adapted to most types of intangible assets.
• AICPA issues Statement on Standards for Valuation Services No. 1: The Consulting Services Executive Committee of the American Institute of Certified Public Accountants (AICPA) has announced the release of a new professional standard on valuation services, Statement on Standards for Valuation Services No. 1 (SSVS No. 1) "Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset."