International Valuation Glossary - Business Valuation (‘Glossary’)

The AICPA collaborated to develop and publish the International Valuation Glossary - Business Valuation ('Glossary') as part of a joint effort with the ASA, CBVI, RICS and TAQEEM. This Glossary has been developed as part of ongoing efforts to harmonize definitions for business valuation and intangible asset terms, and its aim is to include technical terms that are likely to be helpful to both valuation professionals to users of valuations.

The definitions included in the Glossary are intended to be a resource for business valuation professionals and are not meant to be prescriptive. The use of the appropriate definition relies on the professional judgment of the valuation professional. This Glossary presumes that the valuation professional consulting this Glossary has appropriate training and competence in business valuation.

The Glossary will replace Appendix B (International Glossary of Business Valuation Terms) in the AICPA’s Statement on Standards for Valuation Services - Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset (VS Section 100).  

Due to the broader scope of the Glossary, Appendix C in VS Section 100 (Glossary of Additional Terms) has also been modified to make the two glossaries consistent and eliminate any duplication of terms.

This Glossary and updates to Appendix C are being issued in the form of an exposure draft to invite public comment before a final Glossary is issued. The consultation period is now open, and the AICPA requests comments within the 45-day consultation period ending January 30, 2021.

Please provide feedback to:

Mark Smith – Senior Manager FVS section at: