The Fair Commission Model of Goodwill: A New Business Appraisal Approach

Mike Sack Elmaleh

Michael Sack Elmaleh, Certified Public Accountant and Certified Valuation Analyst, is the author of Enterprise Goodwill in Small Service Businesses: Negotiating a Fair Price and Financial Accounting: a Mercifully Brief Introduction. Elmaleh has graduate degrees in accounting and philosophy and an undergraduate degree in psychology. He has served as an adjunct instructor at universities and colleges in Wisconsin and Maryland teaching accounting, mathematics, statistics and economics.

He has lectured for continuing legal education courses on business valuation topics. He has published several peer reviewed articles on valuation theory and serves on the editorial board of The Journal of Business Valuation and Economic Loss Analysis. He has testified as an expert witness in Wisconsin and Maryland courts. He operates a practice specializing in the appraisal of closely held firms in Miami.

He was principal and partner in a Madison, Wisconsin CPA firm, Porter & Sack, CPAs SC for seventeen years. He also developed and maintains an accounting education web site: Accounting: Mercifully Brief Explanations of Basic Concepts.

He is available as speaker, guest lecturer and expert witness. For specific availability use the Contact Me Form.

Michael Sack Elmaleh Peer Reviewed Articles on Valuation Topics

“The Florida Courts’ Errors on Professional Goodwill: Non-Compete Agreements and the Myth of Personal Goodwill”, Florida Bar Family Law Section COMMENTATOR, Volume XXX1, No. 4, Summer 2018

“Fairness in Negotiating an Equity Price” The Value Examiner, May/June 2017 “

ARIMA Forecasting: Variables without a Cause”, Journal of Business Valuation and Economic Loss Analysis, September, 2016.

“A Compensation-Based Method of Valuing Small, Closely Held Businesses.” Business Valuation Review, Winter 2014, Volume 33. No. 4.

“The Persistence of Rules of Thumb.” Business Valuation Review, Summer 2010, Volume 29, No. 2.

“Qualitative Judgments and Consistency in Business Valuation.” The Journal of Business Valuation and Economic Loss Analysis, Volume 13, 2009.

“Liquidity and Investment Class.” The Value Examiner, July /August 2009.

“Investing in a Better Job.” The Value Examiner, November /December 2008.

“Distinguishing Owner Compensation from Profit: In Search of a Responsibility Premium.” The Value Examiner, July/August 2008.

“The Effect of Sales Terms and Risk on the Value of CPA Firms.” The Journal of Business Valuation and Economic Loss Analysis, Volume 1, 2008.

“What Do the Ibbottson Historical Studies Really Prove about Firm Size, Risk and Return?” The Valuation Examiner, January/February 2004.

“The Subjectivity and Relativity of Risk Assessments in Investment Decisions.” The Valuation Examiner, September/October 2003.

“The Income Method of Valuation: A False Analogy between Bonds and Stocks.” The Valuation Examiner, July/August 2003.

Contact Me

This site is devoted to promoting a new model of business appraisal. I welcome constructive criticism and feedback. I also will try to answer questions related to specific business appraisal topics.

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