International Business Valuation Glossary

Business valuation providers and users benefit from common understanding of terms with clearly established meanings and consistent application throughout the profession. To this end the following societies and organizations have worked collaboratively to compile definitions for the terms included in this Glossary:

• RICS – Royal Institution of Chartered Surveyors
  
• ASA – American Society of Appraisers
  
• CBV Institute – Chartered Business Valuators Institute
  
• TAQEEM – Saudi Authority for Accredited Valuers
  

This Glossary updates the International Glossary of Business Valuation Terms originally published in 2001.

This Glossary was developed as part of ongoing efforts to harmonize definitions for terms used in business valuation. It is intended to be a reference tool to facilitate communication within the business valuation profession and with relevant stakeholders and users. This Glossary is designed to be helpful, but neither authoritative nor prescriptive.

February 24, 2022:

In response to market feedback received since the publication of the International Valuation Glossary - Business Valuation (the “Glossary”) in November 2021, the working group updated the Glossary on February 24, 2022. Substantively, the document was revised to include three (3) terms which had been inadvertently omitted from the November 2021 publication, as well as to address minor editorial corrections. The additional terms are Valuation Method, Valuation Model, and Value in Exchange.