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Toward A Generally Accepted Valuation Methodology Framework

Author/s: Bruce Mills

Date Published: 1/01/2007

Published in: Volume 13 - 2007 Issue 2 (pages 162 - 175)

Abstract

The valuation profession has long held closeted doubts about its professional status. The art vs science paradigm features regularly in the literature. This collective doubt is attributed in part to the discipline’s focus on practice rather than theory, and recognition of the endemic use of imprecise terminology. Responsibility lies with both practitioners and educators but the latter should guide the way forward. The International Valuation Standards address these issues but is it enough? A Generally Accepted Valuation Methodology Framework is proposed to improve levels of understanding by students, practitioners, related professions and clients, thereby contributing to the resolution of these problematic issues.

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Keywords

Methodology - Methods and Framework - Standards - Valuation Theory

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