Recasting Income Statements in Valuations of Closely Held Businesses

Thomas Craig, PhD, CPA, is an associate professor of accounting at Illinois State University. Mr. Craig has provided expert witness testimony on business valuation matters, and has written numerous articles on accounting topics that have appeared in Journal of Accountancy, The CPA Journal, Journal of Applied Business Research, Accounting Enquiries, The Accounting Educators' Journal, and Journal of Accounting Education.

Timothy Hoerr, CPA, CMA, AM (ASA pending), is a Consulting Services Partner and firm wide coordinator of Business Valuation Services for McGladrey & Pullen. Mr. Hoerr has extensive experience in business valuation and forensic accounting serves on the AICPA Committee on Business Valuation, and has provided expert witness testimony in numerous valuation engagements.