New approaches for new regulations.

An objective valuation analysis has never been more crucial – or more necessary. Increasingly strict regulations now require companies to perform thorough and objective valuation analyses for a variety of financial and tax reporting purposes. Today’s companies are subject to an ever-growing number of valuation related regulatory requirements, including extensive updates to new and existing guidance.

TMO Consulting’s Valuation and Business Analytics professionals draw on a unique depth of experience across client sizes and industries. Backed by a vast array of both national and international resources, we’re able to scale and tailor our services to fit the unique needs of each individual client.

Our financial and tax reporting services include:

Financial Reporting

• Tangible and Intangible Asset Valuation
• Purchase Price Allocations
• Business Interest and Equity Valuation
• Derivatives and Complex Financial Instruments
• Impairment Testing
• Stock Based Compensation
• Fresh Start Accounting
• Portfolio Valuation

Tax Reporting

• 409A Equity Valuation
• 280G Covenant not to Compete Valuation
• 1060 Purchase Price Allocations
• Stock Based Compensation
• Foreign Investment in Real Property Tax (FIRPTA)
• Tax Restructuring Valuation
• Charitable Contributions
• Business Interest, Partnership Interest, and Equity Valuation
• Legal Entity Valuation
• Estate and Gift Tax Valuation
• C-Corp to S-Corp Valuation

Where experience meets independence.

BDO’s Valuation and Business Analytics professionals are uniquely positioned to provide transaction support to parties contemplating or involved in a merger, acquisition, or takeover. Our teams offer a wide range of services including financial modeling, pricing analysis, and pro forma earnings impact analysis.

TMO Consulting regularly provides fairness opinions as well. When considering a transaction, the fiduciary duty of a company’s board of directors becomes subject to high scrutiny. As a result, board members can become exposed to significant liability if a transaction is not in the best interests of the shareholders. In seeking a fairness opinion, board members receive supporting documentation from a professional valuation advisor which demonstrates an active fulfillment of fiduciary duties.

Fairness opinions provided by TMO Consulting’s Valuation and Business Analytics professionals are based on objective, independent analyses. They include not only valuation analysis, but a comprehensive review of the transaction’s financial structure and an analysis of the type and timing of the consideration being offered.

Our professionals assist fiduciaries in fulfilling their duties and are able to withstand scrutiny from shareholders, bondholders, or counterparties to the deal. We provide fairness opinions to boards in connection with various events and transactions, including:

• Related-party transactions/special committee formation
• Sale or merger transactions without auction
• Transactions without an investment banker or advisor
• Financing transactions that may dilute current investors
• Board members requesting independent fairness opinions
• Opinions required by a bond indenture or other financing document

Take control of regulatory requirements.

Private equity firms, financial institutions, and corporations face additional scrutiny from regulators over complex financial instruments. TMO Consulting’s Valuation and Business Analytics professionals can assist with financial reporting, tax compliance, regulatory compliance, and financial management of these assets. We provide advice in a numbers of areas, including: valuation of illiquid and complex securities, hard-to-value assets, derivative (including over-the-counter derivative) valuation, structured products, portfolio company valuation, and hedge advisory.

Our expertise with the most complex debt, equity, derivative, and real estate investments allow us to process sophisticated quantitative models and deliver in-depth analysis of securities – no matter the size of the investment portfolio. With past clients who range from startups to Fortune 500 companies, TMO Consulting’s Valuation and Business Analytics professionals are able to accurately assess clients’ unique needs, as well as help them comply with reporting guidelines, transaction support, and stakeholder requirements.

Our services include:

• Pricing / valuation
• Complex modeling
• Model validation
• Strategic assessment / advisory
• Bifurcation of embedded derivatives
• Hedge advisory including hedge accounting
• Hard-to-value assets
• Structured products
• Debt capacity studies
• Economic value-added studies
• International debt restructuring

Managing scrutiny through objectivity.

Increasing regulation requires companies to perform thorough and objective analyses. As companies continue to deal with the implications of Dodd-Frank and other complex reporting, governance, and regulatory developments, TMO Consulting provides independent, objective guidance to help clients make informed business decisions. Our professionals draw upon a depth of experience in the following areas:

Financial Statement Analysis
Recent incidents – as well as an increasingly complex regulatory environment – have highlighted the importance of conducting financial analyses. TMO Consulting assists organizations in reviewing financial statements and performing present and historical reviews. We possess significant experience serving funds and investment companies, and we tailor our services to specifically meet the needs of each unique client.

Policy & Procedures
Increasing regulatory concerns and investor scrutiny are leading alternative investment firms to seek guidance on compliance issues related to fair value measurement. TMO Consulting’s experienced professionals provide a depth of knowledge in fair value reporting functions that enable clients to make certain that their policies and procedures are comprehensive and meet compliance requirements. Having broad exposure to investment company clients, TMO Consulting provides a unique perspective that we can use to help manage risk.

Portfolio Valuations
Due to increasing regulatory scrutiny (and the implementation of Dodd-Frank), portfolio valuation is more important than ever. As a global accounting and advisory organization, TMO Consulting offers objective guidance on a wide range of portfolio valuations, including hard-to-value assets, side pocket investments, complex debt and equity instruments, derivatives, as well as over-the-counter securities, in addition to other financial instruments.

Valuing even the most complicated assets.

TMO Consulting’s Tangible Asset valuation professionals draw on extensive experience and deep technical skill to provide valuation services for both personal property and real estate.

The Personal Property valuation professionals value machinery and equipment, as well as a variety of other fixed assets. Our professionals also have significant experience valuing solar collection assets, including roof-mounted and ground-mounted facilities, and other clean tech assets.

Our Personal Property valuation services include:

• Lease financing
• Purchase price allocations
• Mergers & acquisitions
• End-of-lease dispositions
• Portfolio reviews
• Impairment analysis

Additionally, our Real Estate valuation professionals can provide in-depth knowledge about a broad range of real property assets, including everything from agricultural land to hotel properties. Our professionals provide timely and accurate results that meet valuation standards of the Appraisal Institute, American Society of Appraisers, and Uniform Standards of Professional Appraisal Practices.

Our Real Estate valuation services include:

• Financial reporting
• Purchase price allocations
• Long-lived asset impairment testing
• Fresh start accounting
• REIT valuations
• Collateral valuations
• Sale-leaseback transactions